Can VR Gambling Be the Next Big Money Maker?
Virtual reality (VR) is a computer-generated environment that can be used to simulate different environments, including those of iGaming and online casinos. A new GoodLuckMate gambling study showed that only 26.51% of participants tried VR gambling, while 62.72% have not tried it, and 10.78% didn’t even know about virtual reality gambling.
Even though VR is still in its early days, some industry professionals believe it could be the next big money maker for online gambling. VR casinos are already starting to pop up in the Metaverse, and experts believe they could eventually overtake traditional online casinos.
What Makes VR Gambling So Popular?
There are a few reasons why VR casinos could be such a big hit. First off, virtual reality provides an immersive experience that traditional online casinos can’t match. Players can actually feel like they’re in a real casino, making the experience much more enjoyable. This makes it much more exciting and engaging than traditional gambling methods without needing to leave their homes. It combines the experiences of physically being in a traditional brick-and-mortar casino with the easy access of online casinos.
Additionally, VR casinos can offer new and innovative games that traditional casinos can’t provide. This could help to attract new players and keep them engaged. It also opens the doors to providing new bonuses and promotions to entice new customers to join.
Next, VR gambling is relatively new, so there’s still a lot of room for growth. At the moment, only a handful of VR casinos like SlotsMillion and PokerStars VR offer this 3D experience. Some Oculus Rift VR games offer social casinos, but even that option is limited. However, people are attracted to this technology and want to try it. As time goes on, it’s likely that the number of VR casinos will increase significantly.
Lastly, the potential for profits is huge for virtual reality gambling. It will increase earnings for online casinos for sure. Plus, game developers will need to supply new adapted platforms and games, thus creating new job opportunities.
VR Online Casino Gambling Challenges
Let’s not paint the perfect picture without mentioning some possible drawbacks, too. One of the biggest challenges VR gambling faces is software game providers getting proper licenses. These include approvals from gambling authorities like the Malta Gambling Commission (MGA) or the UKGC for virtual reality casino games and platforms.
Another big challenge is the cost of VR headsets. Many people can’t afford to buy a VR headset. As the gear price decreases and the amount of VR casino games increases, more people will be tempted to try this new type of gambling entertainment.
Game developers also have the challenge of replicating real-life casinos in the 3D world for an authentic casino experience, like the Las Vegas strip. They need to create complex systems that satisfy the need for a customer to be able to gamble in a 3D casino, but also to open the door to a whole new immersive role-playing game (RPG) where people interact with other players in fantasy worlds. Not only is a project of this size complex and time-consuming – it’s also very expensive.
Overall, VR has a strong potential to become a significant vertical in the iGaming industry. As virtual reality headsets and software improve and the demand increases, they will become more common in households. When that happens, creating VR table games, slots, poker, and other gambling products will be more cost-effective and in greater demand from online casino operators.
Well, have you bought your VR headset and found your favorite VR gambling destination yet?!