The metaverse has been in the news lately and remains a trending topic, especially regarding online casinos. As technology continues to develop and impact various industries, the online casino industry is not immune to these transformations. The metaverse is contributing to this transformation in no small measure.
What is the Metaverse?
The metaverse is an alternate reality, a universe where people utilize different aspects of technology to interact with one another and objects within the virtual world. The metaverse utilizes technology very similar to what is currently recognized as VR headsets.
In simple words, the metaverse is the virtual universe for socializing, playing, and working. Anything that happens in the real world can be replicated digitally within the metaverse. Furthermore, finance and commerce can take place within this virtual world, thanks to the adoption and use of the metaverse’s currency: cryptocurrencies powered by blockchain technology.
But how is the metaverse impacting the online gambling industry? Some thriving online gaming platforms are already implementing several measures in readiness for the metaverse. This shows how impactful the metaverse has been – and will be – in the online casino industry.
The impact of the metaverse on the online casino industry
The metaverse has impacted the online casino industry in 4 significant ways:
Improved game selection
Online casinos offer gamblers more games since physical space doesn’t limit them. As a result, more are expected in the virtual universe of online gambling. Casinos within the metaverse are expected to have many more offerings than the regular online gaming platforms today.
The primary difference between a metaverse casino game and a typical online gaming platform is the level of interaction the VR technology offers. Players can interact with each other, place wagers using gestures and voice commands, and discuss issues with live dealers as if they are in the same room. The possibilities in the metaverse are practically limitless.
One of the long-standing issues in the online casino industry involves secure cross-border payments. Unfortunately, many payment systems are unreliable and fraudulent. In contrast, the few reliable ones charge gamblers outrageous processing fees when depositing or withdrawing from international online casinos.
Using digital currencies like cryptocurrencies is the only mode of payment in this virtual world because they are fast, decentralized, and secure, with incredibly low transaction fees. Furthermore, no single authority controls cryptocurrencies. The metaverse solves this problem via blockchain integration.
For instance, Bitcoin, Litecoin, and Ethereum have high-security protocols and low transaction fees. Although secondary payment methods – such as eWallets – are available at metaverse casinos, most gamers prefer digital currencies.
Addresses posture concerns
Most players sit for hours in front of a PC playing casino games. But a sedentary lifestyle can take a massive toll on the human body. Only a few gamblers can even boast of having and using ergonomic chairs that provide the maximum support.
But the metaverse has solved this issue because as soon as you log into your casino account, the experience gets delivered via your VR headset. This means you do not have to remain fixated on one spot playing your favorite games in this online casino because you can move around while interacting with the virtual universe.
You can control your avatar with your body movements or gestures. This provides a more immersive gaming experience and eliminates that sedentary lifestyle for good.
100 percent provable fairness
The online casino industry within the universe will run on blockchain technology. Every player’s profit belongs to them as they get paid in digital currencies. In addition, the blockchain will readily verify game-winners and losers, engendering great trust and transparency in metaverse gaming casinos.
AI technology will play a role in monitoring the activities of notorious players in the metaverse gaming universe.
Bonus point: Mimic brick-and-mortar casinos
Playing poker at online casinos can be challenging since reading the opponents’ facial expressions and body movements is essential and part of the game. But the metaverse has eliminated this problem by making it something of a reality.
Poker players in the metaverse are assigned an avatar that mimics the players – and their opponent’s movements. Watching an opponent’s avatar will inform you how they feel and even guess their hand gestures.
It may not be as good as what transpires in the real world, but it is much better than typical online casino offerings.
Is the metaverse truly the future for online casinos?
The metaverse will likely gain more traction in the future due to the remarkable benefits it has brought to the online casino industry. As a result, VR technology will continue to gain traction in more homes, and more gamblers will naturally gravitate towards metaverse casinos.
The attraction to metaverse casinos will be due to the variety of gaming options and level of immersion these new gaming establishments offer.
The metaverse, a.k.a. the virtual world, is becoming popular among gamblers and is undoubtedly the future for online casinos. This is because VR headsets are becoming more affordable, allowing players to experience and enjoy the metaverse. Therefore, it is expected that online gamblers will gravitate toward this technology as more and more online casinos adopt the metaverse.