Trends And Predictions For The Future Of Fintech And Crypto Casinos

Republished By Plato

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March 1, 2024

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The iGaming industry is one of the biggest and fastest-growing industries in the world and is constantly being shaped by the latest advancements in technology.

One of the key areas helping to revolutionise the experience for players is the Fintech (financial technology) sector, which has transformed how people deposit and withdraw on Canada’s most trusted iGaming sites.

Let’s dive straight in and take a closer look at some of the latest trends and emerging Fintech innovations that are helping to shape the future of iGaming websites.

How are the latest emerging innovations and trends in the Fintech industry changing the iGaming industry?

The global Fintech industry is changing the iGaming industry for the better in many ways. It has opened up the online gambling experience to a broader audience, making payments more convenient, quicker, and far more secure than ever.

Here are several Fintech solutions, technologies, services, and tools that are impacting several key areas of the global iGaming industry and helping take it to the next level:

The mass adoption of blockchain networks and cryptocurrency payments is opening up the iGaming industry and making globally renowned sites like the official com online casino and sportsbook in Canada more accessible to a much broader audience. Crypto payments are decentralised, transaction times are faster, and higher levels of encryption make payments more secure
Artificial intelligence (AI), Machine Learning (ML), and the implementation of financial transaction analytics help in the fight against money laundering and other fraudulent activities
Big data analytics AI is now heavily relied upon for various safeguarding and security measures and monitoring patterns in player behaviour to help personalise/tailor the experience on an individual level
A broader range of online payment solutions are now available to players and will continue to arrive over the coming years
Fintech solutions will continue to help improve legal frameworks and standardise regulatory compliance. Forced compliance processes and regulations required in the Fintech industry, like AML (Anti-Money Laundering) and KYC (Know Your Customer), lead to a safer and more transparent environment for players through stringent verification processes
Responsible gambling is now a top priority, and a range of ‘safer gambling tools’ will soon become mandatory to keep players safe at all times. Examples include deposit limits tools, session time reminders, win/loss limits, real-time net loss statistics, spending limits, self-exclusion tools, and more

What other emerging technologies and trends are expected to help take the global iGaming industry to new heights?

The iGaming industry is also being shaped by many other emerging technologies and exciting new trends, one of which is virtual reality (VR). It’s expected to become more mainstream over the coming years.

Players will soon be able to enjoy an even more immersive experience in today’s most sophisticated live dealer casino environments via their wearable VR headsets, such as the Apple Vision Pro, Meta Quest Pro, Meta Quest 3, Magic Leap, Google Glass, Google Daydream View, and HTC Vive XR Elite devices.

This kind of experience is also made possible thanks to the huge advancements in live streaming capabilities, faster and more efficient web browsers, and ever-increasing internet speeds. This also helps enhance the experience by delivering unique content in stunning high-definition and eliminating annoying issues like buffering, lagging, and being disconnected.

Another key technological area propelling the iGaming industry into the future is cloud gaming/computing capabilities, which allows operators to offer an almost unlimited number of games and means players are literally spoilt for choice.

Crypto casinos are also starting to add what are referred to as ‘provably fair games’ that basically assure randomness and fairness. Blockchain smart contracts create a transparent environment and use highly sophisticated mathematical algorithm programs, meaning the games are verifiable by all players.

Players today can find out exactly how the outcomes/results in the computer-generated games were produced.

Final thoughts

It’s hard to predict what the iGaming industry might look like in the future because it’s constantly changing rapidly, thanks to emerging technological developments and trends.

What is certain is that online casinos and sports betting sites in Canada, like 10bet, will become even more secure, provided the reputable operators of these sites continue to embrace new technologies such as blockchain technology and crypto payments.

The future of iGaming sites will be more secure, operators will be more responsible and accountable, and the experience for players will be immersive, entertaining, and interactive.

The games will continue to improve, and the jackpots will reach astronomical amounts as iGaming sites become more popular. Additionally, we will likely see more game development studios bringing their new content to the market.

Finally, thanks to developments in mobile phone and desktop technology, depositing, playing games, and withdrawing winnings will become more convenient and enjoyable for players.

See: Walmart Files Several Crypto, NFT and VR Gaming Patents

All this combined will lead to even more revenue growth and the continued expansion and evolution of the iGaming industry.

Sources:

10Bet Online Casino
The Verge Tech and Innovation
Lloyds Banking Group

The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada’s Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org