7 Exciting Tech Innovations in iGaming

Over the last few years the iGaming industry has undergone a phase of unprecedented bettor-centric product innovation thanks to the introduction of new technologies. We created this article to go over a few of our favorites, some of which are now widespread, while others are just starting to penetrate the market. Continue reading to learn more about some of the new products for online casinos and sportsbooks.

1. Mobile Design

Casinos and sportsbooks used to be clunky, with some operators requiring cumbersome downloads and generally poor user experiences. Trying to play on a mobile device in the early-mid 2010’s? Good luck. The industry standard for iGaming technology now is to provide a betting experience that requires no downloads, and increasingly trends towards platforms and games that are easy to use on mobile devices. Especially in regions where mobile devices are the main method of accessing the internet, a product that is designed for mobile is essential to the success of iGaming operations. To learn more about the importance of mobile-first iGaming technology,?visit?our?article here.

2. Provably Fair Casino Technology

One of the innovations Lion Gaming is most excited about is?Provably Fair?wagering technology. Traditionally, online casino games have had their games certified by 3rd parties in order to assure bettors that they are playing a fair game, and are not being cheated. However, the bettor is not able to confirm on their own that the game is fair. Thanks to Provably Fair technology, bettors are now able to independently verify the results of the casino games they played, thus providing peace of mind. Read our article?What Is?Provably?Fair Wagering??for a deeper dive into Provably Fair technology.

3. Live / In-Play Betting

In-Play, also known as Live Betting, is now a must-have feature for sportsbook operators. Live Betting is a great engagement tool for operators, because it enables bettors to place bets throughout the course of an event. Since live betting occurs during events that are in progress and will thus settle in the near future, live betting offers bettors some of the “instant gratification” that traditionally only casino games were able to offer.

4. Social Engagement

One of the challenges iGaming operators have faced in providing the best user experience possible has related to social capabilities. Unlike brick and mortar casinos, where the casino floor is lively, online betting has long been relegated to a “single player” type experience. Thanks to the advent of multiplayer games such as?Crash, bettors are increasingly able to interact with other bettors. In the near future, casino and sportsbook operators will have even greater ability to engage with customers thanks to the adoption of?metaverse?technologies. Bettors will be able to wear VR headsets and sit down at a casino table game like Roulette or Blackjack and play with their friends, helping bridge the social chasm between traditional and online casinos.

5. VR & Metaverse

Virtual reality technology is still in its infancy, but it is quickly growing and impacting countless industries like healthcare, architectural design, and now even iGaming. Predictions have been made for years and years about the way players will be able to sit around a virtual roulette table or virtual slots machines and enjoy an immersive iGaming experience. We're starting to see some of this technology come to fruition, and Lion Gaming is at the forefront of the VR innovation in the iGaming industry. Just wait to see what we have in store!

6. Cryptocurrency

Cryptocurrency?is an excellent payment rail for iGaming businesses. Bettors are able to deposit and withdraw immediately, and operators do not have to worry about fraudulent transactions nor do they have to rely on (and pay) 3rd party payment processors. The faster transaction speeds and lower transaction costs are also not the only benefit. Bettors also have an additional layer of privacy, as the use of cryptocurrency means there is no bank or credit card statement showing they deposited at “x” casino/sportsbook.

Cryptocurrency is also coupled with blockchain technology, and the right betting technology provider can give online casino and sportsbook operators the ability to offer?on-chain?wagering solutions for their players. On-chain wagering produces public receipts of all wagers, and when combined with the utilization of smart contracts and Provably Fair game mechanisms, results in a?trustless?environment?for the bettor. A trustless environment means that the bettor does not need to trust the operator they place their wager with – as the smart contract will self-execute and thus automatically return any winnings, while the Provably Fair nature of the game ensures that the results were fair.

7. Esports

Esports?started taking hold over the last decade, with massive tournaments that garner audiences that rival the largest traditional sporting events. Now with a global fanbase north of half a billion people, who are predominantly under the age of 35, Esports are set to become a major force in the sports betting industry. Esports and live-streaming capabilities are increasingly available from white label sportsbook providers. Tying into the social engagement innovations, Esports offer operators a unique ability to capture their customers attention — live-streaming. Unlike traditional sports, operators are able to stream Esports events on their website, meaning their customers never have to leave their platform during the event.

At Lion Gaming Group, we pride ourselves that our betting technology incorporates all seven of the innovations discussed in this article. If you are looking for a white label casino solution, white label sportsbook solution, or a dual casino & sportsbook solution, contact?[email protected]?to get started today.