The gambling industry has witnessed an exponential transformation since it first moved online in the early 2000s. Fast forward to 2021, the online casino and gambling global market size surged to a staggering $231bn. The rise of online gambling is all thanks to the internet, and advancement in technology. This piece explores the various technologies that power online gambling platforms.
1. Random Number Generator (RNG)
A random number generator (RNG) is a device that generates a sequence of numbers or symbols that forms the game outcome. Random number generators determine the result of games of chance, such as slot machines and lottery tickets. For more details on RNG, see guides from Indiacasinos.com. The levels of precision and the nature of the underlying physical processes vary dramatically between different RNGs. In many cases, an RNG must pohttps://www.indiacasinos.com/guidesssess high statistical quality, meaning that each output should be equally likely to occur except in a few cases, such as generating passwords.
2. Cryptocurrency
Cryptocurrencies are person-to-person digital assets for making transactions. This payment method is not controlled by the government or any central agency. Instead, it is controlled by the free market. They find relevance in the gambling industry due to their fast nature making it possible to facilitate instant deposit and withdrawal.
Cryptocurrency payments are also transparent and since it is a global form of money, it solves the problem of currency conversion on gambling platforms. What’s more, crypto transactions are also encrypted and users do not need to go through any KYC to use them. Common examples of cryptocurrencies are Bitcoin, USDT, BUSD, Ethereum, Shiba Inu, etc.
3. Artificial intelligence
Artificial intelligence is a technology that’s often used in online gambling platforms. AI is a computer system capable of intelligent behavior, such as learning from experience and solving problems independently. In online gambling, AI is used for customer service and security purposes to prevent cheating and monitor underage gambling
4. Virtual and Augmented Reality
Virtual reality (VR) is a computer-simulated environment that can be explored and interacted with by a person. Augmented reality (AR) integrates digital information with the user’s environment in real time. VR and AR technologies are used in online gambling to create immersive experiences for players.
By creating a simulated but realistic world, VR allows players to see their surroundings as they appear in real life. It means that players can interact with objects but can’t touch them physically.
5. Encryption Technology
Encryption is more than just a way to hide messages from prying eyes. Encryption can be used for anything from securing your email to protecting sensitive information online. Encryption protects private data and communications between players and back-end servers in online gambling. In this context, the most common form of encryption is SSL/TLS (Secure Sockets Layer/Transport Layer Security). It’s what protects your online activities on a web that wasn’t built for privacy, where hackers looking for credit card information or other sensitive data are everywhere.
6. Risk Management Systems
Risk Management Systems are the most crucial aspect of any online gambling platform. These systems allow you to manage your risk before, during, and after the game has been played. Risk management systems help detect fraud and prevent money laundering. They also help detect underage gambling and problem gamblers to prevent them from ever entering a casino again. Examples are the reality checker, account monitoring system, etc.
Conclusion
Online gambling has benefited from technological growth immensely. Chatbots provide quick solutions to players’ challenges, and cryptocurrency makes it possible to make deposits and withdraw instantly from crypto-friendly casinos. Let’s not get started on the significant role suggestive AI plays in recommending games for users and facilitating safe gambling. As the technology space witnesses even more development, there is a lot to look forward to.