Futuretech iGaming in Australia

Futuretech iGaming in Australia

The scramble to create something new has always driven people to advance their favorite industry faster and faster.

No industry has been an exception to this and with the gambling industry being as popular as it is, it has become one of the main industries to see high-speed advancement over the years, especially in the hotpoints for the industry across the world.

Australia is one of these hotspots and gambling technology is quickly changing within the country to adapt to the regulation that keeps getting stricter with time. Now that Australian casino online games are having trouble with existing in Australia, it is imperative for them to adapt and become more advanced in order for users to be more attracted to the games.

The casino’s games also have to address the issues of transaction speeds and, most importantly, the issue of having to come from a country other than Australia in order to be allowed to operate within the country.

As a result, the casino companies in Australia are quickly learning how to switch from physical locations and simple internet locations to new technologies. These companies are pretty much inventing the future of the gambling industry, and the way they are doing it is both impressive and interesting.

“Futuretech” or how blockchain is changing the game

Blockchain has for a long time been incredibly popular with the Australian people. The country is known internationally as one of the hubs for the development of the technology and many startups and ICO have originated on the continent. The love for blockchain tech has also started to translate into the Australian love for iGaming, and now we have a number of companies working on developing new ways to apply the blockchain tech to the concept of online casinos and online gambling.

After all, the demand for the product is there, but the supply is bare to non-existent. And the demand is only going to start increasing: currently Australia is going through a social backlash against the concept of gambling. More and more people are saying that gambling is an issue and that it is causing a problem for the general population. As a result, many physical slots locations are being told to shut down. The casual pokies pubs that seem to be so popular with the locals are slowly seeing more and harsher regulation applied to them, while some municipalities are looking into getting rid of them altogether. All of that demand for slots has to go somewhere and one of the places it will be going is online.

In order to be able to capture the market, without having to violate the laws and regulations related to the industry, local entrepreneurs are looking for ways that might allow them to participate in the industry. Some of them have decided that the best way to do so is, instead of becoming casinos themselves is to become game providers. And many of them are basing their games on blockchain technology.

It might seem strange, but while blockchain might be a little slow when it bulks up too much, recent developments in the tech have allowed it to become faster. This speed has been utilized in order to create some new slots games, with a much more reliable random number generator then with your average online slots game, while keeping up with the same speed that is offered by most of the conventional casinos. This brings hope to the Australian game producers – if they can offer new technology in gaming, they are able to stay within the industry and reap the benefits.

Others still have decided that the best use of blockchain remains as a payment system. While some are introducing cryptocurrency into some of their payment systems, others still are trying to figure out if they can create their own blockchain networks and coins unique to their casinos, in order to allow their users to play. The technology is still in its beginnings, but there are already some casinos who are providing the service quite successfully. What is most interesting is the fact that the expectations for the creation of the service are already becoming high, so much so that it proved to be a problem in 2017 and 2018.

The problem was that there were a whole lot of cryptocurrency scams related casinos. Australians, in general, lost a lot of money to said scams, which has resulted in the government in being more vigilant towards the issue. This vigilance might be a danger to the industry as a whole, as it might cause a ban on such services being imposed countrywide, which would seize all kinds of blockchain developments within the industry.

Even the companies that are already relatively advanced in their research will have to seize their activity or move out of the country, which might be a big issue for everyone.

Nick comes from the financial services area. He is an expert in currencies and stock trading, yet gambling has always been his passion. At CasinoPlayersReport Nick is overviewing the financial health of listed companies within the iGaming sector, recent regulatory updates, and other major news.


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