The Internet of Things is a technology that has gained much attention in recent years. The technology has been adopted across various industries and is synergistic with artificial intelligence, cryptocurrency, and blockchain technology. It’s evolved from something theoretical to something that’s having a profound impact across multiple industries.
The Internet of Things is expected to have 41 billion devices by 2027, with 127 added every second. There are many types of connected devices, including mobile devices, computers, watches, cameras, heaters, and smart devices. But what exactly is IoT and how is it affecting online gambling?
The Internet of Things: A Definition
The Internet of Things is a digital network that connects objects over the Internet. Devices with such software and sensors typically connect and exchange information over the internet with other devices. The “smart home” concept, for example, uses IoT extensively. It is possible to connect and control devices and appliances like refrigerators, televisions, sound systems, lights, alarms, thermostats, and more via associated devices. With a smartphone or smart speaker, you can switch things on and off, set timers, and do many other things.
The Application of IoT in Online Gambling
The Internet of Things is also finding its way into the gambling industry. Many online casinos in Kuwait and over the world have started utilizing IoT to enhance the experience. Using the technology, online players can play simultaneously with brick-and-mortar casino players by connecting to them via the Internet. Besides users at a physical casino, it can also connect remote users.
Further, it can enable greater personalization by collecting more analytical data on individual players. As a result of IoT, an operator can create a customized space full of games, themes, and offers that are specially tailored to players across all their connected devices. As IoT, AI, and Big Data cross over, operators will be able to provide better services to players.
Smart devices will also allow players to place bets, deposit funds, withdraw funds, and check sports betting odds. It is possible, for example, to play a hand of poker while cooking dinner or bet on an upcoming eSports tournament! Additionally, winnings could be withdrawn to their bank accounts with one sentence.
A very advanced gambling environment can be created by combining these possibilities. Virtual reality and augmented reality will be used in games to make them more high-tech. IoT devices and voice control will be used to control the game, what’s in it, and how the player plays. Additionally, voice commands will be used for micropayments.
A Legal Perspective
Incorporating IoT into operations may have crossed your mind if you are an online casino startup or an existing casino. To use this technology, there are no particular laws or licenses required. The only license you will need is your online gambling license, as well as any other licenses you may be required to obtain by your jurisdiction.
Regulating AI is in the works in some countries, such as Malta. Thus, you may need to meet certain requirements if you use AI and IoT together. Cryptocurrencies and blockchains fall under the same category.
There is no denying that the Internet of Things is here to stay. It is likely that many of us interact with these devices daily or weekly. The market is expected to generate 1.1 trillion dollars in spending by 2023, with consumers spending $115 billion on smart home devices. In addition to being able to connect with customers, gambling companies can benefit greatly from being able to connect with their devices. Moreover, you will be able to offer better service to your clients and stay on top of the trends.
As of right now, the Internet of Things and digital gaming are only in their infancy. However, they have already led to fantastic results – mobile gaming on smart devices, enhanced security, and targeted marketing aimed at attracting and retaining customers.
According to experts, IoT applications in iGaming are still in their infancy, and their true potential has yet to be seen. As for IoT and gaming in the future, it remains to be seen. However, it has already begun to change the gaming scene and improve the gambling experience for both land-based and online casinos.
