As technology moves the world forward into new frontiers, the iGaming industry has continued astride. From Internet gaming to mobile entertainment, advanced systems, and apps have interfaced with its protocols.
When PayPal led the e-commerce platforms with fast and secured payments, top casinos were pioneers. The result slapped Paypal with a $5 million fine from the US Treasury Department. PayPal abandoned the casinos, and they looked elsewhere.
Article Breakdown
The iGaming Payment Gateway Era
Even as PayPal advanced its e-commerce interface, the iGaming industry was seeking alternatives. Soon, companies like Realtech and Inet were introducing payment apps and gateways into their software. This would seamlessly allow end users to manage funds without leaving their dashboards
Within a decade players were able to use multiple e-wallets including checks and bank accounts. The iGaming e-commerce experience was now fast, secure, and multifaceted. Many new gateways had joined the market. Some of the most popular were
- 2Checkout: This e-wallet came to the market in 2006, even though the service existed as part of the market group GEAD. The company operates a one-stop central for credit cards, checks, and PayPal. Although it did not officially promote iGaming, it is now one of the premium options available.
- Skrill (Then Moneybookers): In 2001, a European company changed the e-payment market with a three-phase digital system. The company provides money transfers to and from merchants while providing multiple e-wallet options.
The company includes more than fifteen payment options including Neteller and 2Checkout. This makes it a one-stop shop for all types of payment processing.
- Authorize Net: Authorize Net was founded in 1996 and worked with the iGaming industry for 4 years. It was acquired by Pauk Allen, co-founder of Microsoft in 199 and ceased services to gambling outfits in 2,000.
- Neteller: This e-money service was created in 1999 by two Canadian citizens. The company quickly converted into the principal e-wallet of the online gambling industry, especially offshore companies.
However, the company soon followed a similar fate as PayPal, only that one of the founders spent time in a US jail. Neteller withdrew its support from the US-based players and turned its focus to the EU market.
As the 90s faded into history, so did most of the old technology and modernization became a trend. Apps were popping up everywhere, and suddenly there was a quick software for any task. This also, made the former gateways less secure and frequent to fraudulent spasms.
The world needed a better, safer way.
iGaming in The Blockchain Era
The creation of the private ledger system changed e-commerce. Merchants had no frontiers and no regulating body. The Internet finally found financial freedom.
Businesses were quick to integrate the various cryptocurrencies into their payment methods. So did the top iGaming companies. Casinos were now able to offer users a new gaming experience.
Some of the key features include:
- Blockchain gaming software that improves Fairplay
- New payment gateways with secure and fraud-free capabilities.
- A completely anonymous payment platform that protects user data
- Bets are stored in an encrypted format which makes it impossible for any third party to adjust them.
One of the most important benefits of a blockchain betting system is the privacy it provides. Users can participate in complete incognito on gaming platforms if they so desire.
In addition, their financial data is no longer presented to third-party platforms such as betting houses or cryptocurrency exchange centers While monetary transfers are encrypted to a private ledger, no one really has access to it..
Mobile Technology
Smartphones opened the world to new gadgets and the world of Apps. Payment gateways were fast to add their downloadable extensions. Users abandoned Internet cafes and thumbed their fun to mobile platforms.
iGaming refused to stay behind and led by a top casino, created its app. People were able to stay connected to a betting platform for longer periods by downloading the software. They could then play all day with an Internet connection.
Nonetheless, the industry moved beyond downloadable apps. iGaming is now available on mobile using stream technology. Players can enjoy their favorite games without reducing storage space. No download necessary.
Automated Betting Powered by AI
Another factor is the possibility of automated betting or AI-powered gaming. This is the process where a bot places wagers on behalf of the player. The AI system is able to interpret the player’s tendency and place calculated wagers based on viable outcomes.
Notably, bots are very efficient, especially in live betting. They can place more wagers simultaneously, and calculate better probabilities.
Artificial Intelligence, however, is now utilized in all aspects of the industry. They are used by oddsmakers in Las Vegas to compute betting lines, or by handicappers to establish winning picks.
iGaming operators are also excited about AI technology. Lines adjustment can now be an automatic process. As a matter of fact, the entire process now is. Setting up the lines, bet processing, and game grading – all done by bots.
Handicappers and punters eagerly post daily picks for their dwindling fans. They have been hitting better rates and higher win percentages. However, fewer fans are using their services, even if they have 100%.
Players are using the automatic AI bettor that does it all – picks and places bets. Some bettors are not even aware that they placed some of their winning bets. In the first place, they would not have bet them anyway
Notably, these AI bots tend to place so many bets, that bettors can hardly keep up. Even if they can place restrictions on AI activities, they prefer to go wild. Allowing the AI to risk and win when it can. After all, AI wins more bets.
The World Is Technology
Without technology, the world would cease to exist. All that we hold dear would make no sense. So it is with the iGaming industry. Unless they keep pace with the IT trend, they become obsolete.
Notwithstanding, it has been doing a great job. It has adapted to each technological change from e-commerce gateways to Artificial Intelligence.