The IoT (Internet of Things) industry is a multi-trillion dollar market that is defined as connected products, services and devices that operate and revolve around the Internet. Ranging from connected smartphones, software, IT applications, and smart living concepts all the way to gaming, this market is extremely vast. Within IoT lies many opportunities for developers to expand their business outlook, but does this include the online casino industry?
We believe online casino platforms will in fact benefit greatly from such developments. More connected devices means more access to information including entertainment, which can translate into increased profits for developers provided they provide updated compatibility and easy access to their platforms. The trends show that people want information in a variety of ways that cater to their specific tastes and location, so compatibility will be the biggest factor for casino platforms to consider moving ahead throughout 2015 into 2016.
Currently, online casinos are a bit behind on the device compatibility spectrum. If we look at recent device releases such as Google Glass, virtual reality gear such as Oculus Rift or even smart devices including wrist bands and smart watches we can see that almost all casino developers have not reacted to these new trends fast enough. Online casino platforms are not entirely to blame for this, however. Many smart watches such as Apple Watch do not support third-party app downloads, although this is expected to change, and there are also legal implications that some vendors consider before allowing a certain brand to promote their content and services.
There are apps however in the VR world that operate on a non-regional basis and could be downloaded for real money playing if vendors took the chance. VR users have become accustomed to using alternative currencies like BitCoin for other games since the technology has operated on its own type of niche market for years, hence needing the demand for niche currencies to conduct transactions for activities such as real money game playing. Online casino makers have not jumped on this trend yet even though all the market trends point to connectivity and gaming experience through VR devices in the future.
Casinos could provide compatibility for smart TVs, which currently have high penetration rates in the market. Casinos such as Spin Palace should be looking into the way TV users browse and download information, and how it further is accessed while on the go through other mobile devices such as smartphones. The platform could also look into offering financial incentives to hardware providers for promoting its services and team up with other sports/gambling news providers online. Very few of these actions are taken and it is not doing the online casino world any favors.
The future of IoT will also extend into vehicles and all aspects of smart home living. As people aim to connect their smartphones with displays linked throughout their homes and into their cars, any type of software that people desire to play should be customized for that screen. Whether it is virtually pressing a button or doing so through an advanced touch OLED screen on a wall, software developers will be able to profit. This also includes casinos online that are looking to make the online gaming experience fully integrated and reflective of land-based facilities.
The biggest threat to online casinos such as Spin Palace lies not in their services but the lack of market forecast and foresight. Falling behind the trend of connectivity will only hurt such casinos, as some others such as Royal Vegas have already begun to customize smart watch casino apps in addition to new resolution compatibility such as 4K. The gambling circle online needs an edge and lucky for them they can feed off trends in the market. However, if these providers do not even consider formulating a team that is planning how a casino such as Spin Palace can adapt to such situations then the IoT market may be of no opportunity whatsoever.
The new digital landscape is determining who is the fittest to survive. Adaptation to trends, innovation in regards to new gaming types as well as increased cooperation between cross platforms will bring the most opportunities for online casinos in the IoT sector moving forward provided these gambling hubs react accordingly.