The US iGaming market reached $8.5 billion in 2021 and is forecasted to grow at 8.7% year-to-year to reach $14.7 billion by 2027. In the past few years, regulated iGaming has been expanding across the US as more states go online and more sportsbooks launch in the country. Mobile wagering is a fast-growing trend thanks to expanding iGaming technologies. Advanced online security, blockchain, and 3D video are some of the technologies that have transformed the sector.
Mobile technology has made one of the greatest impacts on the growth of the iGaming industry in the US. It made internet gambling popular in the country and was useful in its fast spread. One of the breakthroughs was the development of mobile gambling apps. Users gained access to iGaming products from their homes and many other places. Mobile payment applications were developed, which made making payments and withdrawals easier.
Artificial intelligence is influencing iGaming in different ways. Virtual casinos use AI to gather data that help them learn user behavior and preferences. The data helps in the development of customized gambling options. They develop new games with features that users want.
Improved online security
Gamblers are often keen to know how online casinos work and how they guarantee their online security. To offer confidence in iGaming, stakeholders have developed modern online security solutions using the latest technologies. They use SSL encryption to protect gamblers and keep their data safe.
Blockchain is a recent technology that has made it possible to use cryptocurrencies in gambling. Developers are using the technology to develop a Random Number Generation system that offers greater transparency and fairness. Blockchain is offering players a system that promotes anonymity, security, speed, and affordability.
3D video technology
3D video technology has transformed the way people use online slot games. Technology has changed the way video slot graphics are designed. Developers have added exciting videos, music, colors, and sounds. The technology has helped attract more players. Due to 3D technology, slot games have become a major revenue earner for the iGaming industry. The technology is helping in the development of VR in iGaming.
Regulation of Michigan online casino industry
In December 2019, Governor Gretchen Whitmer signed the online gambling legalization laws. The laws resulted in the launching of online casinos in 2021, which give Michigan bettors access to 14 wagering apps now. In April 2021, Michigan Gaming Control Board authorized a partnership between Parx Interactive and Gun Lake Casino to offer iGaming and sports betting services in the state. Named as Play Gun Lake, the Parx Casino Michigan website was launched in August 2021.