iGaming/Gambling: Overview of the virtual betting industry in IT

Introduction to iGaming/Gambling

Let's first understand the terms to be on the same page:

Gambling

The concept of Gambling includes everything related to gambling. Please note that we are talking not only about online gambling but also about games that are held offline: poker clubs, bookmaker's betting shops, casino halls, land-based sweepstakes, and more.

IGaming

iGaming is an umbrella term for the industry that covers all forms of online gambling. The term iGaming means “Internet gaming”, the synonym is online gambling.

That is, gambling is a general concept for gambling, and gaming is a specific definition for online games. Also, IGaming looks less negative as gambling  ¯\_(ツ)_/¯.

Glossary of Terms in iGaming

• RNG (Random Number Generator): A generator used to ensure the randomness and fairness of game results.
• Betting Platform: An online system or website that provides the ability to place bets on various games and sports events.
• Casino Operator: A company that manages an online casino and offers gaming services to users.
• Affiliate Marketing: A marketing strategy where affiliates earn a commission for attracting new customers.
• Payline: A line on a slot machine where winnings are paid out if certain combinations of symbols appear.
• Bonus: An amount of money or other advantage given to players as an incentive for registration, deposit, or participation in games.
• Wagering Requirements: Conditions that a player must meet to withdraw bonus funds or winnings from their account.
• Jackpot: A large prize in a game, often accumulated from many bets and awarded for a certain winning combination.
• Free Spins: Free games or spins are given to players as a bonus or part of the game.
• Live Dealer Games: Online games where a real person conducts the game in real-time, streamed via video.
• Mobile Gaming: Games optimized for play on mobile devices through apps or mobile browsers.
• eSports Betting: Betting on the outcomes of video game competitions.
• Responsible Gaming: Initiatives and policies aimed at preventing gambling addiction and ensuring a safe and responsible gaming environment.
• KYC (Know Your Customer): A procedure used by companies to verify the identity of their customers and prevent fraud.
• AML (Anti-Money Laundering): A set of procedures and laws aimed at preventing money laundering through gaming platforms.
• Scatter Symbol: A symbol in slot games that can trigger bonuses or free spins when it appears.
• Wild Symbol: A symbol that can substitute for other symbols to create winning combinations in slot games.
• Progressive Jackpot: A jackpot that increases with each bet made in the game or network of games until it is won.
• Return to Player (RTP): The percentage of bets that a game returns to players over the long term.
• House Edge: The percentage of a bet that, on average, remains with the casino as profit.
• Multiplayer Games: Games where multiple players can participate and interact simultaneously.
• VR iGaming: Games that use virtual reality technology to create an immersive gaming experience.

Key technologies and tools in iGaming

iGaming is based on various technologies, the most common are the following:

Real-time servers

Real-time servers are used to process huge amounts of data coming from players all over the world. This allows for a smooth and fast gaming experience, which is critical to satisfying user needs.

Databases

Databases are needed to store information about users, including their gaming history, account balance, preferences, etc. This data is then used for analytics, targeted advertising, and personalization of the user experience. Most often in iGaming, data flows like a river. Therefore, challenges to building databases are typical for other Big Data projects. The data set is often unstructured, which is why NoSQL and other solutions that can provide good performance are very popular.

Security systems

Security systems ensure the protection of users' personal and financial data. This includes data encryption, user authentication, DDoS protection and other security measures.

Payment systems

Payment systems allow users to safely and quickly add money to their accounts and withdraw winnings. They can support payment methods including credit/debit cards, e-wallets, and cryptocurrencies.

Blockchain technologies

Blockchain technologies can be used in iGaming to ensure transparency and fairness. The use of blockchain allows you to verify the results of games without intermediaries, which increases user trust.

Key players and products in iGaming

Bet365 - this company is one of the leading companies in the online betting industry. It offers a wide range of services including sports betting, casino, and poker. Through its products and services, Bet365 reaches millions of users around the world.

William Hill - is a company with a long history in the betting industry. It has successfully adapted to the digital age, offering online sports betting as well as casinos and other types of games.

PokerStars - The world's largest online poker room that offers a variety of poker options, as well as casinos and sports betting. PokerStars is known for its big tournaments and big prize pools.

888 Holdings - is a global company that owns several popular iGaming brands. It offers a wide range of products including casino, poker, sports betting, and bingo.

Features of domain development in iGaming

Regulation

Strict regulations and standards are quite predictable in the iGaming domain. Different jurisdictions have different laws and regulations, and every company operating in this area must be aware of and comply with all requirements. This can cover areas such as data protection, fraud prevention, advertising, reporting, and many others.

Big Data

A large amount of data requires appropriate solutions for processing and analysis. This may include big data, analytics, machine learning, and other technologies that help understand user behavior, predict trends, and improve the overall user experience.

High load and fault tolerance

Systems used in iGaming and Gambling must be able to cope with high load levels and ensure service continuity. This requires the use of advanced architectural solutions that provide scalability, fault tolerance and rapid recovery from failures.

iGaming Trends and Future

Artificial Intelligence and Machine Learning

The development of artificial intelligence (AI) and machine learning (ML) opens up new opportunities in the iGaming field:

• Personalization: AI can be used to analyze player behavior, preferences, and betting habits to create a personalized gaming experience. For example, systems can suggest games to players that they are likely to enjoy based on their previous experiences.
• Decision Automation: ML can help automate decision-making processes such as offering certain bonuses or betting options.
• Fraud Detection: AI can be used to continuously monitor transactions and user behavior patterns to quickly detect and stop any fraud attempts.

Blockchain technologies

Blockchain technologies also present new opportunities for the iGaming industry:

• Transparency: Blockchain can provide continuous auditing and documentation of every bet and its outcome, improving transparency for players and regulators.
• Fairness: The use of blockchain technology allows the use of smart contracts to automatically execute game results without human intervention, which increases the fairness of games.
• Decentralized games (dApps): Games built on blockchain platforms can offer the user much more control and transparency than traditional online games.

Virtual and augmented reality

Virtual reality (VR) and augmented reality (AR) technologies also offer new opportunities for the iGaming industry:

• VR casino: VR technology can recreate the atmosphere of a real casino, allowing players to fully immerse themselves in the gaming experience without leaving home. For example, the SlotsMillion company already offers a full-fledged VR casino.
• AR Games: AR can be used to bring game elements into the real world, creating interactive and engaging games. A famous example is the game Pokemon Go, which could be adapted for the iGaming sphere.

Mobile technologies

Can we talk about the future of iGaming without mentioning mobile technology? Of course not

Mobile applications

The trend is that the number of mobile players is growing, including in gambling. You can play poker or place a bet on sports without even leaving the couch. For companies, this means one thing: you can’t go anywhere without a mobile app.

Using geolocation

Geolocation technologies are used to offer the user a more personalized experience. For example, users receive notifications about local events that they might be interested in betting on. You always need to be on the wave of events ;)

Ethical issues

Last but not least thing I would like to emphasize: that the gambling business is not only about money and technology. These are also issues of ethics and social responsibility.

Fighting gambling addiction

Large companies today are actively addressing the problem of gambling addiction. And it is right! Various tools are provided for self-control and self-restraint: setting limits on bets, the possibility of temporary or permanent self-exclusion, and so on.

Fraud Protection

Of course, we don’t forget about protection from scammers. After all, where there is money, there are scammers. Here various security and data encryption systems come to the fore.

Conclusion

iGaming/Gambling is a fast-growing industry that continues to attract a lot of investment and innovation. At the same time, they present several unique challenges and issues that require careful consideration and discussion. This includes safety, regulatory, social, and other issues. However, the future of these domains looks very promising and they will certainly play an important role in the evolution of the gaming industry in the coming years.

Anything to add? Write your opinion in the comments.