How The Metaverse Will Impact The Casino Industry

The phrase “metaverse” has steadily become more and more a part of the world’s collective lexicon when it comes to the future. For decades now, tech shows and reporters have been talking about the online future that the world is moving toward, and we are finally beginning to see the real-world version of that dream. If you’re unsure, here’s a simple description of what the phrase “metaverse” really means:

“The metaverse is a loosely defined term referring to virtual worlds in which users represented by avatars interact, usually in 3D and focused on social and economic connection. The term metaverse originated in the 1992 science fiction novel Snow Crash as a portmanteau of “meta” and “universe”- Wikipedia.”

Stepping into a world where this concept becomes a workable reality brings a lot of potential changes and improvements for a number of industries- the gaming sector among them. Our digital landscape is transforming, but what does that mean for products of the current digital landscape? Both in-person gambling and online casino sites can and should be evolving to stay in line with the most current tech and the direction that the metaverse will eventually take them in. Here is a breakdown of what we see as the impact of the metaverse on the gambling industry at large.

Gamblers Will Need New Tech

If you’re going to gamble in the metaverse, you’re going to need to get yourself a set of tech that will allow you to step into an entirely new world.

• VR Headset. This gadget will allow you to see and hear into the metaverse. It’ll bring you into the online world as if it’s real life.
• AR GLasses. Augmented reality tech like glasses does the opposite of the VR headset- it brings the metaverse into the real world with displays and other features.
• A Capable Computer. All of this tech requires a lot of computing power, as do metaverse-compatible sites and programs. 
• Fast Internet. A stable, fast internet connection is a must for joining the metaverse.
• Online Currency. NFTs, online services, and experiences must be paid for with something! Be it regular currency or crypto, you need online access to your finds.

Much of this tech is still in its infancy, with costs prohibiting a large chunk of the tech-savvy population from purchasing it. The cost-prohibitiveness helps to delay the true metaverse and our integration into it, which creates something of a circular issue, but tech is becoming more and more affordable as its creation and implementation are refined.

Laws Will Need To Catch Up With Tech

The current regulations that govern both online and physical gambling will be facing a few new inclusions. The metaverse is going to mean that gamblers can gamble in person by means of VR or AR tech while not really being in a physical casino, which may require some new regulations. Things like jurisdiction, age determination software, and fair play concerns will all have to be addressed before the gaming industry can truly step into a metaverse space. The European Commission has already kicked off this process by beginning discussions on regulation in this digital landscape.

Gamblers Are Going To Have More Immersive Experiences

If going to a physical casino to immerse yourself in a casino environment is not an option for you, for one reason or another, you’ll be able to get a similar experience by gambling in the metaverse. All of the tech we mentioned earlier is going to erase the days of sitting behind a screen and looking at a card table or slot game on a flat surface. Instead, you’ll be sitting in your home looking at a card table in your sitting room or find yourself transported to a virtual casino floor to gamble shoulder-to-shoulder with other players.

As the metaverse becomes a reality, things like body suits and gloves will come into play, offering you the feeling of the felt on a card table, the brush of another player’s jacket against your arm, and the shape of virtual chips in your hand. Gamblers will get the full casino experience without having to leave the comfort of their own home. They may also get a window into world-famous casinos (through virtual reality) in far-flung places across the globe that they may otherwise never have been able to see.

Social Parameters Expanded

Socialising online is hardly a new idea. For gamers, gamblers and members of all kinds of communities all over the world, apps like Skype, Whatsapp, Discord and the like are connectors that allow relationships to flourish from halfway across the world. Gambling can be an incredibly social affair- if you want it to be. Gamblers who play live games or slot games alone at home aren’t getting access to this fun side of gambling, but the metaverse will change all that. You’ll likely be able to chat with and look other players in the eye around the blackjack table or exchange small talk while pulling the virtual lever of an exciting slot game. Realistic rendering and full immersion in a digital world will open up doors that we never even dreamed of.

There are many reasons that people may not want to or be able to leave their homes to engage in their favourite hobbies and socialise at the same time. Erasing some of the separation that these people experience will enhance not only their casino experience but their feeling of satisfaction in general- a win-win.

Our Metaverse Thoughts

The meeting point of the metaverse and the casino sector will redefine entertainment entirely. As the metaverse becomes more and more of a reality, as the tech needed to access it becomes more affordable and accessible, the line between the virtual and physical worlds blurs further and further. This poses challenges, certainly, but none that the industry isn’t capable of rising to meet. Innovation and economic growth can really walk this path hand in hand if the opportunity is taken. This unchartered territory will have to be navigated with great care and consideration to ensure that current industry stakeholders and those currently enjoying gambling as a hobby retain their economic safety and stability, are safeguarded against all potential harm and get access to the best possible experience.

As gambling and the metaverse evolve and grow together and the landscape comes into sharper focus, we’ll begin to experience new things in a way that’s more immersive than we ever thought possible. Ownership, experience and entertainment are changing, and the casino industry is changing with them. 

Which aspect of the metaverse are you most looking forward to experiencing?