How The Rise Of Technology Is Tapping Out Today's Land-Based Gaming Industry

With more focus on social interactivity in online gaming, hitting the jackpot in your nearest go-to casino may soon be a distant memory. But how is the Web 3 world changing the gaming landscape for good? After sitting down with investment mogul David Subotic, I learned that the future of gaming and betting sectors worldwide is transforming more quickly than we think.

There's nothing quite as enchanting as the extravagant glitz and all-around opulence of a night out at the casino. But as humanity dives deep into the new world of Web 3, many experts in the field have seen a dramatic surge in the number of gaming clubs being played online since the pandemic.

From brick-and-mortar locations to the virtual sphere, could this be the rise and fall of in-house gambling dens? No need to roll the dice as today, the online gaming industry, represented mainly by online casinos and sports betting portals, is growing at an annual rate of 11%.

Of course, not all online casinos have jumped aboard this growing trend just yet. After all, where would spotlight resorts or iconic locations like Las Vegas be without their ultimate adult playgrounds – places where you can play poker or spin the roulette wheel to your heart's content?

It's no doubt that land-based gaming, in general, has become a commodity. They are everywhere and, over time, have opened up the chance for buildings to erect at a rapid rate. Cultural and legalization approval, easy access to online gambling, celebrity endorsements, and corporate sponsorships are also helping market growth.

It is still classified as the industry's most significant sector, with "the global online gaming market expected to reach $525 billion by 2023.

But, like the reels that spin and stop, our world is changing. As we become more rooted in the metaverse, those in favor and who have adapted quickly are sure to prosper. We are undoubtedly seeing a flurry of online houses clamoring to get up to speed to retain their most high-rolling clients.

It just might look and feel a bit different.

To gain more insight into these transformations, business mogul David Subotic, the co-founder of the multistrategy investment firm Greywood Capital, shared a valuable eye-opening reality. With over a decade of experience investing in gaming, David Subotic has seen the heavily changing landscape flourish.

"There has been an enormous decline in the next generation of gambling," shares Subotic. "I think that land-based casinos like gaming floors and slot machines will be obsolete in 10-15 years. Instead, I think games of skill will explode where you play against each other and bet."

Still, thanks to the introduction of live dealers and interactive experiences, even though more people can now enjoy all the edge-of-your-seat action from the comfort of their home { the sun lounger of their luxury yacht – whichever they prefer} one thing that will never go away is social interaction.

The social part of gambling has always overshadowed the fear of losing. Still, the emergence of social media gave an alternative for people who just want to have fun, make some friends, and build connections while playing cards, sharing, and updating their progress.

As we continue to see this in today's new world, different strategies are being implemented to accomplish a more social repertoire – one of them being influencers.

"The new world is the influencer world, and they're the ones driving everything," says Subotic. "They are making it fun or exciting. People like to do things in groups or go against another group of people. It can be engaging, like chat rooms or talking to each other."

A few social media platforms like Youtube, Twitch, Discord, and even Facebook have given way to creators uploading competitive video experiences for millions of subscribers to see. For example, a new type of online gambling called live dealing is taking off in the U.S.

It may look like a casino floor, but there are no chips, changing hands, or free drinks. Instead, games are broadcast to players' phones or laptop screens. In live dealer games, real-time results of a dealer's actions are streamed to each player.

Here, players can chat with the dealer, and the dealer can respond verbally. Studies show that one of the benefits of this "unconventional method of communication helps foster connections while building the skills and confidence necessary to interact face-to-face."

Even sports betting has taken on a new lease of life for mobile devices for those who like to gather in person. It's now possible to bet on all sorts of propositions through "in-play" betting. From horse racing, soccer, American football, basketball, baseball, cricket, combat sports, and more, having a shared or competitive experience with others is all the trend.

Everyone wants online gaming to be as exciting as gaming in a physical casino which explains the significant increase in players seeking exhilarating experiences. And that's not all. The gaming and betting industry also sees an influx in the Augmented Reality (AR) and Virtual Reality (VR) sphere and the Bitcoin and Cryptocurrency space.

Overall, no one can deny the industry's changing landscape or could have anticipated how quickly online casinos would gain popularity. So, watch for further developments in the gaming and betting space – as technological advancements are just getting started.