A new study from Juniper Research claims that virtual reality (VR) will become a much greater part of online gambling by 2021. And given that slots make up the bulk of online gaming, VR technology will play a huge role in slots moving forward.
Juniper examined online gambling trends and where the activity will be in five years. One of their biggest findings is that total online gambling wagers will increase from $550 billion (2016) to over $1 trillion by 2021.
The reason why online gambling wagers have climbed to $550 billion, Juniper found, is the convenience that mobile slots offer.
But what’s exciting is that the research company also believes that VR technology will account for almost half of all betting in five years.
We discussed the potential of VR slots, and online casinos in general, earlier this year. One of the most-exciting things about VR slots is that you’ll not only get to play some life-like games, but also experience more of a realistic casino environment – one where you visits bars and social lounges within the casino.
Going back to the Juniper study, another thing to look forward to is more customized offerings in an effort to retain customer loyalty.
“User engagement goes a long way towards drawing in return business,” says Lauren Foye, who headed the study. “Providing features such as news and media on favorite teams, as well as personalized offerings based on past betting activity, enables greater engagement and is likely to reduce churn.”
One more significant finding from Juniper is that the cryptocurrency Bitcoin has and will continue helping online gaming grow. The benefits to Bitcoin include that it can be accepted anywhere (no government or bank regulation), and withdrawals are processed immediately.