Economic Influence of Online Casinos in the UK

Gambling industry in the UK, as well as globally, is undergoing a shift towards online gambling, as land-based casinos attendance continues to drop. The main reason for this is that online casinos are more accessible: you can gamble whenever and wherever you are, provided you have a PC, tablet, or a phone and an internet connection. The staggering growth of online gambling in the UK was enabled by the liberalization of gambling laws in the Gambling Act 2005, which legalized online gambling.

Gross gambling yield in the UK reached £13.8bn in September 2016, a 65% increase compared to £8.36bn in April 2008, mostly thanks to online gambling, FOBTs and National Lottery.

Currently, online gambling makes up for more than a third of the industry’s income in the UK and has reached £4.5 billion last year. In comparison, the income from remote betting was only £817m in 2009. The most popular type of online gambling are online slots, amounting to around £1.8 billion of total income.

The most immediate positive effect on the economy is through taxes: as online gambling is growing, so is the amount the companies are paying to the Treasury. Also, the gambling industry is creating more and more jobs, as new startups continue to pop up.

The main negative effect on the economy is an overall increase in risky gambling behaviour, leading to more people losing money and suffering consequences of gambling addiction. This might also lead to a bigger demand for state-funded gambling rehab programs since people with lower levels of income are generally those most exposed to risk. Also, the demographics of gamblers is shifting to include more young people and there has been a 5% increase in gambling among 16- to 24-year-olds and a 10% increase among 25- to 34 year-olds.

This, together with the bad reputation of gambling as problematic behaviour, might lead UK authorities to turn against the online gambling, but bookmakers’ associations are warning that restricting the industry would cause thousands of jobs to be lost, in a move that would cost the Treasury billions of pounds.

With so many online startups, the competition is fierce, making the market riskier for investments. More than ever, casinos must stand out and offer fair deals to customers. The awareness is increasing about the importance of responsible gambling, and casinos often advocate for it themselves. Thus, the effects of gambling liberalization might not be as catastrophic as gambling opponents are predicting.

Although there are some downsides to it, the online gambling industry is expected to keep growing. Teaching people how to gamble responsibly should be the top priority of both the gambling companies and the government.    

Does VR Have a Future in Online Gambling?

VR casinos are slowly making their way to the mainstream of the gambling industry.

Currently, there are not many VR casinos that let players gamble with real money, but we can expect more of them very soon. 2016 report by Juniper predicts that the total amount of bets in VR casinos will reach $520 million by 2021, amounting to an 800 per cent rise over the next few years. In comparison, in 2016 total amount of bets in VR casinos was $58.5 million. Even for sports betting the virtual sports market is on the rise, with the Mobilebet voucher code making it easier than ever to start the process. Early adopters are expected to be millennials, high rollers, with advanced VR headsets or smartphone-based ones.

Some online casinos, like SlotsMillions, already made first steps by offering gambling on virtual slots. You can walk around their virtual casino freely, experience incredibly realistic environment, sit in the lounge, see other players, and try one of a dozen slots currently on offer either in VR or in 3D mode. Top developers like NetEnt and Microgaming are already investing in this new market and have created VR versions of their most popular slots, that you can try out at SlotsMillions. All you need for the VR experience is to plug in a VR headset. You won’t be able to gamble with real money at the moment, because SlotsMillions are currently developing a new platform for this purpose.

Why would anyone want to gamble in a VR casino, rather than at a regular online or land-based casino? The main reason is that VR gives online gamblers what they were lacking before, an experience of being at an actual casino, from the comfort of their home. The social factor is also significant because VR enables players to interact with each other in a more lifelike manner. One could say that a VR casino is the next best thing to visiting the real one, but in some ways VR casinos can offer even more than real ones. What if you want to play poker in the Wild West or gamble in outer space? You could also give your avatar a cowboy hat, elf ears, or completely change your looks. In Social Club VR: Casino Nights you can play privately with friends and even challenge them for a fencing or a shooting match. The opportunities are countless.

VR holds promising prospects for casinos, as the entire gaming sector rapidly develops in that direction. There are already headsets that allow for a fully immersive experience, we can only expect the technology to improve in the following years. With VR market expected to reach over $50 billion by 2021, and as VR gaming platforms are already becoming more affordable, non-VR games might even become obsolete.

All things considered, the future is looking bright for VR online casinos.

Best Cryptocurrencies for Gambling Online

With every passing day, there are more cryptocurrencies coming out. One such currency is called Fun and it is dedicated to online gambling. This one has been existing for a while, it is an RC20 token that came out of the Ethereum network and it is also based on Ethereum technology as well. While this is a specialized currency for a very specific purpose, others are broader and not for the specific purpose. Such a currency is Bitcoin.

Bitcoin

This is the most accepted cryptocurrency in the world. It is also the most recognizable. This is the first and leading currency among the other 1,600 who came after it. It was developed and put to work by a person or a team of people who call themselves Satoshi Nakamoto. It is for this reason that the pennies of a Bitcoin are called satoshies. Pennies for any other cryptocurrency are also called satoshies. With many exchanges around the world successfully accepting and trading Bitcoin, there is a lot of things you can buy with Bitcoin- from housing to food to cars (Lamborghini accepts Bitcoin) in all parts of the world. Bitcoin is taking off. This currency is probably the safest to own because others might be less traceable, they are called privacy coins. You will find the largest range of casinos and other gambling sites accepting Bitcoin the most.


Privacy Coins

These are the coins where any transaction cannot be linked to a person. In other words, you can never find out who sent money to who and how much. Such a currency is Monero, another is Zcash. Both are respected privacy currencies. These currencies exist because the people using them and maintaining them believe that your transactions should remain private. In the early days, Bitcoin was considered private but today it is only considered semi-private. This is because you can see all the transactions made since its inception in 2009. If you would want this bad enough, you could track every bitcoin as it changed hands over the years.

Downsides of Using a Cryptocurrency for Gambling

The price of cryptocurrencies can change in a matter of minutes. In hours they can double or triple their value, but they can also lose their value. For this reason, you should never invest more than you can afford to lose in cryptocurrencies. Nobody can guarantee the value of Bitcoin or any other currency unless they are specifically created to mimic real-life value. Such a currency as Tether- this currency is tied to the value of dollars. 1 Tether is 1 dollar and this value never changes. But Tether is not truly accepted on a lot of places, and as such, it’s not ideal to use for gambling or general use.

Positive Sites of Cryptocurrencies

Only you have the access to your funds. No bank or anybody else can take them away from you. You can also send them anywhere with a click of a button. Funds are almost instantly transferred for a minimal cost per transaction.

Smartphone Trends

There are always ways to improve upon and keep great updates for new phones to come. For instance, we can learn if an experiment on older phones were good and how much the customers liked them. If they did, they can keep using that strategy for better usage and even upgrade it to make it even better. This is why we always see better phones in the making each year, because they learn from past failings and successes. They always get better.

Bezel-less Trend

It may seem so little, but in fact, it makes everyone much happier. It’s where the phones no longer have a pointy edge, but trimmed. This way it doesn’t poke your hands while trying to hold it and it feels much better. It literally just sets itself in your hand almost perfectly. The screen looks much better and fluent too. This trend started in the year of 2016 – where phone screens get bigger and their edge is soft.

The Notch

You may think that this trend is quite annoying sometimes as anything on the screen would be, but it serves a genuine good purpose. That permanent piece of black that is definitely not part of your screen is your source of “TrueDepth” cameras that are what signifies the success for the facial I.D. to work. You can find this cool feature in the iPhone X and it lets you in only if you look into the camera. So you see, it will be locked until it can recognize your face.

Artificial Intelligence

Have you ever spoken to a robot on your phone that sounds vaguely like an absent-minded human being? That would be artificial intelligence. So instead of looking for things on your phone or on the internet by yourself, all you simply do is tell the phone what you are looking for. However, I haven’t been too impressed because usually the phone doesn’t hear me correctly or can’t find the specific subject I was looking for. If I have every single detail then yeah, sure, that could have made it but seeing as how it was probably less energy to just do it myself I don’t really bother with talking to the robot in my phone. The creators know that it has a long way to go before it’s smooth and with almost no complications, but they are getting there and within time they will. With more criticism and praise, this world will become more advanced.

The Influence of Artificial Intelligence on Online Gambling

How much does Artificial Intelligence have an impact on online gambling? As of right now, we know that it’s been a non-negative experience for most and especially if you keep your wits about you. All you have to do is a search on the World Wide Web and it will give you a huge list of options to choose from. From there on you can do just about anything, even do a live version of gambling. Some online casinos have the ability to let you play with other people via your webcam. This all sounds like a lot of fun, but what happens when you put Artificial Intelligence in there too? Some think that the outcome would not be good and that online gambling will fade away. Here’s why.

What is Artificial Intelligence Capable of?

I would say that over time, they will all get smarter. It also is always changing and adapting to the current times and how advanced technology has become compared to in the past. It’s where a robot will sense its surroundings and then even act upon a certain situation to get to what they think is what they need to do. There’s no telling of how much more smart computers and robots can get as technology gets better. They might even become smarter than us humans.

Your phone is even artificial intelligence. That robot you can talk to who’s name is Siri is exactly that. It can recognize your voice and your language and talk to you accordingly. It will answer your questions, give you searches, make plans and even talk to you as if it were a person too. If we’ve gotten this far already, I wonder what it will be like in just 10 short years. Now that thought is kind of scary. There is really no knowing where it could end up.

There was even news being broadcasted around that Artificial Intelligence has beaten a human being at the game of chess. People have also created somewhere they can learn things on their own as they experience what they do and the world around them. If you talk to a robot they can look at you and learn from your facial expressions and tones of voice and so on.

There will come a time when they will experiment with the Artificial Intelligence and see if it can win a game in the online casino I am sure. If not being told how to play it will play on its own and over time it will remember winning numbers or matches or other things that will educate it. People say that the Artificial Intelligence can figure these kinds of things out much faster than the human brain can. But it’s probably true because humans have so many emotions and they process many things all at once that it can be so confusing. Robots only think about just one thing- learning. They can probably find out the winning end to the casino games too. This could lead to people using it for bad use. Even without telling the machine what to do, they will do it on their own to learn. The games could be cheated by using Artificial Intelligence and this would make it so that they would probably shut down. There could be other robots to help stop this or we could create new games with different strategies that would not let these sort of things happen too. There’s really no way to know for sure about anything. But you can be sure there is a chance they might not fool the machines.