Innovations and Their Impact on the Entertainment Niche

Today, the online casino sector has evolved from a narrow market to a global iGaming centre, quickly adapting to technological advances and changing the audience’s needs. Innovations have played a significant role in this conversion.

The Impact of Innovations on the Gambling Industry

According to Statista forecasts, by the end of 2024, the projected revenue in the online entertainment sphere will reach $97.27 billion. By 2029, this figure will already be $133 billion, with an average annual growth rate of 6.46%.

The capitalisation of the niche is affected by many factors but innovations are the key one. They increase the security of virtual casinos, improve user’s impression, and make projects more resilient to various types of risks. Today, technology is an opportunity for entrepreneurs to maintain market position and stand out from the competition.

Blockchain and Safe Payments

Distributed ledger is a peer-to-peer chain of units that contains information about millions of transactions that have already been made and are only planned. The data inside these blocks is encrypted using cryptography, so it is theoretically impossible to delete or forge such details.

In just 5 years (from 2019 to 2024), the cryptocurrency gaming sphere has grown from $50 million to $250 million and continues to gain momentum. 65% of the market is occupied by bets through mobile applications, while only 35% of revenue is accounted for by desktop sites.

How Blockchain is Used in the Casino Sector

Let us consider the main ways to apply the technology:

1. Safe transactions. Distributed ledger guarantees reliable encryption and the ability to manage all operations on the platform. This reduces the risks of fraud, hacking, and disputes between players and operators. Customers gain full control over their digital assets.
2. Transparent and fair game. In blockchain-based slots, the history of transfers is recorded in a decentralised register. It is as immutable and safe as possible. There is no possibility of manipulation, and users are reliably protected from any unethical practices and the risk of non-payment of prizes.
3. Ownership. The technology allows clients to become legal owners of many game assets, such as skins, tokens, or collectable items. They will be stored and will be able to be transmitted or sold through specialised exchanges. All this enriches the digital economy and increases the value of blockchain in the casino environment.
4. Simple settlements. The solution supports micro- and macro-transfers with minimal commission fees and provides anonymous and secure access from anywhere in the world. All a person needs is to create a digital wallet.

Cryptocurrency in the iGaming Niche

Operators integrate virtual money into existing portals and can create projects from scratch, which are based entirely on the blockchain.

Among the popular digital tokens, it is worth highlighting Bitcoins, Litecoins, Ethereums, etc. As a rule, providers offer a variety of convenient and reliable payment options.

The main advantages of using cryptocurrency:

• high speed of operations;
• access from anywhere in the world;
• global transactions without restrictions;
• low commission fees;
• complete security of transactions.

The use of digital units ensures decentralised work of entrepreneurs. Their activities do not depend on government policy, banking rules, and requirements of financial organisations. Everything is as simple, fast, and safe as possible.

Provably Fair Practice

It confirms the honesty of results, the algorithms of which operate based on the blockchain. The outcomes of the rounds are pre-coded using the SHA-256 cypher, so they cannot be faked or changed.

The BGaming European provider was the first to release content with the Provably Fair function. Today, this algorithm is supported by many software vendors. Gamblers trust such slots, are more willing to bet large sums of money, and are happy to share the results of successful sessions.

Biometrics and Identity Verification

This is a method of user authentication based on unique physiological characteristics: face, voice, the location of veins, fingerprints, and the iris of the eye. Biometric data is used in a wide range of industries, and the iGaming sector is no exception.

How Personality Recognition Works

The most common method of applying the technology is multi-factor verification.

It normally consists of 2 stages:

• entering a username and password;
• proof of identification via biometric scanning.

Most often, if we are talking about visiting an online casino or a mobile betting application, this is a photo from the personal device’s camera.

An independent organisation, the Age Check Certification Scheme, was created to certify providers that carry out biometric verification. ACCS tests and evaluates the compliance of virtual and offline systems that confirm the age and identity of customers using a passport scanner, special technologies, and software.

Today, owners of iGaming platforms are eager to buy program components that contain such solutions. They can be found in the range of Yoti, iovation, Featurespace, AcuityTec, and other certified developers.

Advantages of Biometrics

The key benefit is the automation of identity verification, which ensures more accurate and reliable authentication with minimal human intervention. If a standard check by entering a password and SMS confirmation can take from several minutes to half an hour, then biometric scanning happens instantly.

The occurrence of errors and inaccuracies during the procedure tends to zero. Thanks to this, the load on the support service is reduced. Simple requests can be processed automatically, while more complex ones can be transferred to a dedicated VIP manager.

Additional features of biometrics include:

• implementation of anonymous age assessment;
• identification of vulnerable players;
• provision of personalised advertising.

The technology helps operators ensure compliance with industry requirements in the field of security and KYC verification (Know-Your-Customer). Thanks to this, only adult clients without ludomania are allowed to place bets.

The introduction of biometrics increases the effectiveness of the fight against fraudsters and bots. Even if intruders get hold of a player’s phone, they will not be able to enter their account and steal confidential data. Already at the verification stage, the system will block it since unique details will not match the previously created digital profile.

AI and Security of iGaming Portals

The concept can be described as a set of programs and services that imitate human behaviour. It is based on a neural network, which explains the ability to self-learn and expand capabilities. For this reason, such an innovation is used in a wide variety of economic sectors.

The implementation of the solution is a worldwide trend. According to the Mordor Intelligence online publication, the volume of the global AI market in the security sector will increase from $21.19 billion in 2023 to $50.61 billion by 2028, with a compound annual growth rate of 19%.

About 44% of organisations are already implementing applications based on the technology in their work, mostly to detect and prevent hacker attacks.

How AI Improves the Reliability of Online Casinos

Let us consider the main areas of the concept’s application:

1. Fraud detection systems. According to the results of the past year, cybersecurity is among the top 5 divisions with the largest investment in AI. Security software based on this innovation helps control the level of user access to iGaming sites and identify unauthorised actions. Another option is scanning the system for vulnerabilities and eliminating them.
2. Fighting bots. AI can quickly identify hidden associations that may indicate fake accounts. Operators will be offered various methods of combating robots, including instant blocking of accounts with freezing of funds and received bonuses.
3. Identification of people with ludomania. Artificial intelligence can record behavioural patterns, as well as any deviations from the norm. They often signal the development of addiction to the placement of bets, so such players should be advised to take a break from gambling.

AI and Personalised Experience

Applying a neural network allows to collect information about user preferences and habits, which include:

• favourite type of content (slots, cards, and bingo);
• popular topics (action, holidays, and animals);
• game model (all-in bids or spins at micro limits), and much more.

Based on the data received, AI generates individual offers of products, bonuses, and tournaments that are sure to interest people. This increases audience engagement and retention, which helps business owners increase their profits.

The Main Things about Technologies in Gambling

They have a positive effect on the reliability of digital casino portals.

Key aspects that operators need to take into account:

• The use of a distributed ledger ensures the high speed and safety of payments. Technology also plays a key role in the system of provable fairness of results.
• The main direction of ​​biometrics is to quickly and accurately identify a person. With its help, it is possible to find bots or fraudsters and reduce the number of requests to the support service due to false blocking of accounts.
• AI is aimed at improving the cybersecurity of online casinos. Such apps can detect changes in the behaviour of customers, which often indicates the development of ludomania.

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• creation of HTML5 slots according to individual sketches;
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