Virtual reality is starting to become something that will take over. It is something that awes many, but however is kind of scary for some. Just the thought of this coming into the gambling industry is a concern for some, especially politicians. This would also be a huge concern for those who are against gambling.
Virtual Reality Online Casino- It looks like as of now virtual reality has a pretty good chance at entering the online casino industry. If this does end up existing, there will be some regulations for it. There will be some jurisdictions that will likely prohibit it. Some others might put restrictive regulations on it. Some of the regulations could limit the customer’s accessibility to it. It could also stymie the development for this kind of market.
However because of the creative potential, the use for this type of technology in the online gambling industry is still inevitable and unstoppable just like how the porn industry is. The virtual reality casino industry as a matter of fact is already ready to launch and it is already here.
Making the VR Casino Industry- Ocolus Rift has already been released. It was released in March of this year. Before and after its released, SlotsMillion has already been making attempts in entering the VR world. The result of this combination is a lobby for the casino, on a skyscraper in a futuristic type of Blade Runner –esque cityscape. In this type of atmosphere, players are able to prop up the bar, choose whatever number of machines they want to play, have interaction with other players, look down and experience real vertigo when windows are being leaned on.
The Licensing Jurisdiction of Malta- When the casino was being built, SlotsMillion worked with their own regulator, which was the licensing jurisdiction of Malta. They were doing this while they had sought to create a new set of practices for a new medium.
Malta- Malta insisted that clocks will be available on their walls, unlike most other land-based casinos around the entire world. They want players to see a clock so that they will not lose themselves in the games. It has also been imposing restrictions on multi-player tournaments that feature SlotsMillion that had been planned to be developed. In these type of games, player’s balances are visible. Regulators have ruled that it is best for the player’s wins and losses to be private.
The Online Casino Industry- The online casino industry has an even larger amount of regulations towards them more than ever before. This is because of more and more countries around the world have been opting to license and tax online gaming. Also, the watchford for operators is compliance.
There are many unlicensed offshore markets. Just like with a lot of other businesses, there has been a balance of struggle when it comes to illegal and legal products online. Many people like to find loopholes in being able to receive a product for free.
The Gambling Industry Changing- Even though SlotsMillion is impressive, it still does not have a market. They do not have a customer base yet either. In the market, Oculus Rift will be retailing at an upwards of $350. This amount is very affordable. However, its goggles will not be able to work without a gaming PC. This would push the cost up to $1,500. More than likely, gamers in the millennial generation will be the first users of virtual reality casinos.
SlotsMillion has announced that the large majority of customers will be experiencing their project without goggles being required.
Casino giants have took noticed of the millennials lack of interest for the slot machines. A lot of millennials prefer to play Halo 5 than the slot machines. The casino industry has been putting a lot of focus on finding ways to attract the millennials. Also, the unstoppable rise of escorts has not been going unnoticed.
Nevada and New Jersey have made amends to their gaming laws earlier this year to prevent different payouts on their machines. This was done to pave the way for video gaming based slot machines.
Gambling laws usually states that payout odds have to be the same for all players, but however, variable payouts will give better odds for the players who are able to gain some type of knowledge at a skill based bonus game.
Lines Being Blurred- Lines between escorts, video games, and gambling have already been becoming blurred. Virtual reality would cause for more of a crossover to be needed. Social casinos are expected to be a huge success in virtual reality. If this ends up happening, expect for there to be big changes within the industry.