Huge growth expected in North American casino equipment
A recent study by Report Linker further emphasizes the growth potential of the online casino market in North America. According to the study, the market for casino gaming equipment in North America is expected to grow at a Compound Annual Growth Rate (CAGR) of 5% between now and 2024. What’s fueling that growth is a continued demand for gaming equipment that will reach the mass market, especially electronic gaming tables as well as the adoption of both Virtual Reality and Augmented Reality in online gambling. This will provide a live-like experience to players as they play online. In addition, continued innovation and design in new slot machines and online slot games is expected to contribute to the substantial growth in the market.
AR and VR in online gambling
Perhaps the next biggest development in online casinos is the continued creation and implementation of AR and VR in innovative ways. Live Casino games — those where players experience casino gambling at table games such as blackjack and roulette with a real live dealer — are gaining in popularity. The technology that fuels Live Casino gaming is a combination of AR and VR.
The next development in this arena is further building out an online casino experience that feels even more like the player is physically in a land-based casino. The use of VR in this realm allows players to see a 360-degree view of the casino studio from their computer or mobile devices. This allows the players to check out all the table games they could play and then make a final decision on where to “sit” — just as they would if they were in a physical casino.
In North America, this is an increasingly in-demand tool, as casino operators are looking to offer a gaming experience that is seamless whether the player is playing at one of their land-based casinos or is playing online. And with the continued adoption of smartphones and other smart mobile devices from all generations — as well as the expansion of high-speed connectivity — this will continue to become ever more important in the casino marketplace. If you want to test this area, you can have a look at the following site.
The market is strong in North America
Not surprisingly, North America experienced the largest growth in revenue for new casino gaming equipment in 2018. This is in large part to the expansion of the legality of online casinos and sportsbooks in the United States and Canada. As both countries’ governments continue to relax federal rules prohibiting the practice of online gambling, and gambling in general, the demand from players in these countries have fueled private iGaming companies to come to market.
In fact, the study found that North America is actually the largest market in the entire world for vendors to earn revenue on a recurring basis from leasing out casino equipment. Las Vegas in Nevada was already one of the world’s leading gambling destinations, and now that rules in the U.S. have become relaxed, there are other emerging markets such as New Jersey and New York on the East Coast of the country.
In Canada, the push is for similar relaxation of gambling rules as it pertains to both online gambling and single sports gambling as well. New candidates for government positions are pushing hard for just this, with models that would closely resemble those of the United States. As these laws become more relaxed, more possibilities will open for iGaming developers to capitalize with gambling equipment. To get in on the action now, check out the online casino below.