Online gambling continues to grow at an alarming rate. There’s no question Silicon Valley has influenced that growth. Now, online gambling looks to Silicon Valley for future inspiration.
Online casinos are not legal in California despite the state’s massive influence on the industry. Props 26 and 27 on November’s ballot would legalize sports betting in the state. If one or both of the competing initiatives pass, it could open a door to legalizing online casinos in the future.
The growth of California online gambling
From small beginnings, online gambling in California has swelled into a multi-billion-dollar industry. It has been around almost as long as the internet. At first, inconsistent state and federal laws had kept it from really taking off in most states. Once those impediments were removed, there’s been no stopping it.
The greatest advantage of online gambling is that it offers one the flexibility to place a wager from anywhere, at any time. In addition, online platforms are scrambling over each other to provide customers with exciting new bonuses and promotions.
This is partly because in the business of online gambling, keeping the customer engaged with splendid new gambling experiences is the bottom line. In order to accomplish this, the online gambling industry is compelled to rely on top-notch technology to develop games and gambling platforms.
Now, online gambling looks to Silicon Valley for future inspiration when it comes to new technological advancements in the field.
Silicon Valley technology will drive industry
Tech giants in the Bay Area continue to lead the way by using artificial intelligence and virtual reality to personalize online experiences. Many online entities also prosper from this technology.
Now, sportsbook operators are trying to copy the same user experiences people are comfortable with. Online sportsbooks are taking cues from popular consumer apps, social networks and gaming platforms to enhance one’s online experience.
As a new generation of players discovers the market, operators and game providers also need to also find ways to outpace the competition.
The most prominent technology blazing the trail in online betting is virtual reality. By generating simulations of surroundings, operators allow users to interact with their environments.
VR allows gamblers to connect with other bettors and dealers to offer a more realistic gambling experience. VR can provide better sound quality and also a more realistic game design.
It also opens up new growth opportunities.
There’s no question that artificial intelligence is one of the most significant technological developments in recent times. Its impact on the world of online casinos has been pivotal in improving the gambling experience.
For instance, operators who employ AI can gather massive data that in turn enables them to offer tailored deals and promotions. AI can quickly sift through all that data and recognize patterns and offer helpful predictions.
This valuable tool helps operators understand their customers’ gambling behavior through high-level data analysis. This also allows operators to offer players tips to better their play.
The integration of blockchain technology continues to have a positive effect on market growth. The goal of blockchain in online gambling is to provide users with additional protection through transparency. Databases record all transactions and also store the information in a decentralized ledger.
Blockchains also provide some key features.
- A degree of anonymity
- Eliminate intermediary requirements, including verification and authentication processing
- Enable fair and trustworthy transactions
Betting on personalization
Tech companies are compelled to modernize their digital marketing efforts to meet the demand for more individualized experiences. One of the many challenges often faced by bettors is breadth of choice.
They can be overwhelmed by the vast amount of choices. The solution moving forward is personalization.
Personalization ensures that the content displayed to an online casino customer or sports betting site is relevant and helpful. There’s dual aim of personalization.
- Casinos can drive growth in revenue and profit through conversion improvements and acquisition cost savings as well as increased player retention.
- Players can enjoy a more pleasurable on-boarding and gaming experience.
In four years, FanDuel CEO Matt King turned the company into one of the most respected global daily fantasy sports and gambling brands. In 2021, he switched to Fanatics to help navigate that company’s entrance into the online sports betting business.
“Daily fantasy sports massively increased the size of the fantasy business because we created new game mechanics that were more millennial-focused and more mobile-first. We think that opportunity exists in sports betting as well.”
He also noted that personalization is an area that operators need to be explore much more. Learning exactly what customers want to bet on is gold in the online gambling industry.
Silicon Valley produced key iGaming companies
For decades, Silicon Valley has represented one of the largest hubs for video games, gaming hardware and software. Some of the biggest and most influential companies in the industry can be found there.
The list includes companies like Corsair Gaming, AppLovin and AMD. These highly-innovative iGaming companies are benefiting tremendously from the online gambling industry.
Fremont-based Corsair creates top-of-the-line gaming gear, including gaming PCs and components, streaming gear and also other gaming accessories. The peripheral manufacturer offers a wide range of ultra-fast and efficient products that help gamers and streamers to perform better.
Earlier this year, Corsair launched a new optical-mechanical keyboard, the K70 RGB TKL Champion Series. The keyboard targets gamers and features a 10-key-free design and quick response times.
Headquartered in Palo Alto, AppLovin is a mobile app technology platform. A comprehensive suite of tools works to get operator mobile apps discovered and also downloaded by the right users.
Other significant features include optimizing market spending and maximizing monetization of engagement. The company has been around since 2013. Its software reaches a total of 410 million users a day.
Advanced Micro Devices, Inc. operates as a global semiconductor company. AMD’s revolutionary processing and graphics technology power the gaming industry and can be found in PCs from several top manufacturers.
Its technology is designed with specific purposes and also power capabilities in mind to allow users to tailor their hardware to their particular requirements.