The online gambling industry, daily fantasy sports and eSports continue to grow at a rapid pace as the advancement in technology has allowed gaming providers to consistently innovative and improve their gaming offerings. Virtual Reality (VR) is arguably going to be the biggest game changer in the online gambling industry as gaming software developers like Playtech and Microgaming continue to invest heavily into developing VR games, especially online pokies like the ones being introduced at au.slotsheaven.com.
MarketsandMarkets have estimated that the PC VR market in 2016 to be around $3.5 billion and will grow exponentially to reach $16 billion by the year 2020. Online gambling has grown at a rapid pace over the last 5 years but land based casinos continue to do well as the online experience limits their overall gaming experience.
This has resulted in a number of providers such as GameAccount Network (GAN), Casino-VR and Oculus Rift developing VR products and services that will assist online gamers to experience the full casino effect while gaming from their home. Some of the innovative VR software products include 3D gaming technology, VR headsets, VR online casinos, VR mobile apps, VR gaming consoles and VR glasses.
In a statement, Dermot Smurfit, GAN chief executive said “Playing authentic casino games in VR for real money will dramatically close the gap between the live gaming experience available on-property and the flat two-dimensional experience available at home on traditional personal computer or mobile devices.”
VR technology can be easily used in online pokies games which are similar to video slots. While a number of casinos are experimenting with VR in online casino games, they are yet to become a mainstream offering in the global gambling industry. However large corporations including Sony PlayStation VR, HTC Vive and Samsung’s Gear VR are all in the process of developing and releasing a number of VR products that target the gaming industry.
The biggest concern for VR products targeting the gaming industry could be the cost price. Most VR products are costly and generally upwards of $300 depending on the product and brand. As a result, the majority of gamers are restricted from trying out VR technology and only a select few are investing in VR products.
A recent report by Goldman Sachs confirms that in the coming years all that will change as VR technology gets less expensive and attracts a bigger global market. The report estimates that the global VR market will be around $110 billion by 2025, where PC VR will contribute $62 billion and VR gaming consoles will generate $14 billion. Gambling providers investing in VR technology are expected to target gamers in the age group of 20 to 35 in the next few years.