Will VR Really be a Driver for Online Casino Growth?



The Growth of the VR Industry

According to Analyst firm Technavio, there’s little doubt that the global VR market is poised for incredible growth between now and 2022.

More specifically, it’s expected to grow at a compound annual growth rate of nearly 55% during this time, equating a value increase of $360 million in the same period.

Now, it may be important to note that this figure is based primarily on perceived levels of technological advancement during the aforementioned period, as well as projected adoption rates within specific marketplaces.

One of these is undoubtedly the virtual gaming market, which includes all online gambling channels and casino platforms. In fact, it was adoption in this market that many believed by prove crucial to its emergence as a mainstream technology, and one that customers would across a host of demographics would fully embrace.

Adoption has Been Slow – But will this Trend Continue?

While this makes perfect theoretical sense, the only potential issue is that the initial adoption rate has not matched the expectations of those behind the technology. Technavio themselves revealed that while operators such as William Hill and 888 has embraced some basic VR technology and gambling services, such innovations have not embraced on a wider scale.

But why should this be the case? Most pointedly, gamers themselves remain uncertain about VR technology, with many still striving to understand how this can be leveraged to enhance their gaming experience. This is particularly true in the case of virtual gambling, where players must balance the quality of the gameplay alongside their ability to make money.

Similarly, the burgeoning VR market is saturated with a host of alternative headsets, with many customers struggling to identify key features and determine which product is best-suited to meet their gaming needs.

However, experts expect this to change considerably over the next few years, as the technology becomes increasingly refined and operators immerse themselves further into the market. These two developments will be inextricably linked; with further innovation and advancement creating greater clarity in terms of the features available, and operators leveraging these to benefit the needs of their customers.

The Last Word

Arguably, this will be the year that this trend begins in earnest, with prominent development team NetEnt on the cusp of releasing the world’s first, real money virtual slot game.

This will be based on the popular Gonzo’s Quest franchise, while providing customers with the very first practical insight into how VR can augment a traditional gambling experience.

This will undoubtedly blaze a trail for other developers and operators to follow in the future, while laying the foundations for a relationship that will enable both markets to thrive.
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