Are Virtual Reality Casinos the Future?

Virtual reality is really a new medium, that is why it inspires as a lot mistrust because it does awe. Some view it because the stuff of dystopian science-fiction, and also the idea of adding gambling into the mix will horrify politicians and anti-gambling pressure groups alike.

It’s clear that a future virtual reality on-line casino business, if such a thing develops, will face many regulatory hurdles.

Some gambling jurisdictions are likely to prohibit it completely, while other people might impose restrictive regulations, which could stymie the improvement of a marketplace and limit the consumer reach.

And yet, for all its creative potential, the usage of virtual reality for on-line gambling is perhaps as inevitable and unstoppable as its user for the consumption of pornography.

In fact, VR casino gambling is currently right here and prepared to launch.

Regardless of the truth that the Oculus Rift headset is unlikely to turn out to be commercially available at least till Q1 of 2016, on-line gambling company SlotsMillion has spent the past seven months rendering its on-line casino experience in VR.

The outcome is really a casino lobby within the clouds, around the 80th floor of a skyscraper inside a futuristic, Blade Runner-esque cityscape. Here, you can prop up the bar, select to play any number of immersive 3D slots games, interact with other players, and encounter extremely genuine vertigo whenever you lean against the windows and look down.

While developing our on-line casino, SlotsMillion worked closely with its personal regulator, the licensing jurisdiction of Malta, because it sought to develop a brand new set of very best practices to get a totally new medium.

Interestingly, Malta insisted that, in contrast to most land-based casinos about the globe, clocks should be visible on the walls, so that players can’t ‘lose’ themselves in the games. It also imposed restrictions on a multi-player tournament games feature SlotsMillion wanted to create, in which a player’s money balance were visible. The regulators ruled that a customer’s wins and losses should stay private.

The online casino industry is facing higher regulatory controls than ever before, as more and more nations about the world opt to license and tax online gaming, and also the watchword for operators is compliance.

But, of course, a large unlicensed ‘offshore market’ exists, unbound by the rules of governments. Thus, just as within the genuine globe, we’ve the intriguing prospect of the emergence of both safe, licensed VR casinos – and edgier, illegal VR gambling dens, where anything goes.

But while the augmented reality on show at SlotsMillion is undeniably impressive, here is really a item with, as however, no market and no customer-base.

Is this, then, a mere gimmick or a genuine glimpse of the way gamblers will interact with casino operators in the future? And when a customer-base develops, what will it look like? How large will it be?

With regards to marketplace, the Oculus Rift will retail at upwards of $350. All extremely inexpensive, however the goggles won’t function with out a serious gaming Pc, pushing the expenses up to a great $1,500.

Thus, the very first users of virtual reality casinos will most likely be gamers of the millennial generation, and not the casual or traditional gambler. SlotsMillion itself has said that the vast majority of clients will experience the project via the no-goggles-required, in browser 3D version, rather than the Oculus Rift.

The casino giants of Nevada have long lamented the millennials’ reluctance to embrace traditional casino games. Reared on console gaming, they naturally get their buzz from Halo five instead of staring hypnotically at spinning reels.

Meanwhile, the unstoppable rise of esports has not gone unnoticed by a casino business that is becoming increasingly desperate to appeal to a younger generation.

Each Nevada and New Jersey amended their gaming laws this year to permit “variable payouts” on their gaming machines, to be able to pave the way for the presence of slots that incorporate some form of video skill-gaming.

For instance, gaming law generally dictates that payout odds should be exactly the same for all players, but variable payouts will permit better odds for players who are in a position to acquire proficiency at a skill-based bonus game.
Blurred lines

The lines in between video gaming, esports, and gambling are already becoming blurred. And the advent of virtual reality will increase the require for additional crossover.

Social casinos are most likely to become a large hit in virtual reality. The business is currently worth some $3.four billion, based on Eilers Study. A figure that is set to become $4.four billion by 2017, as this business, as well, seeks to expand its demographic via the introduction of much more skill-based elements.

Social casinos may be used effectively by land-based casinos as a marketing tool, and virtual reality recreations of large Vegas casino resorts are most likely future projects. MGM Resorts has already done this in 3D with its MyVegas social casino, which allows players to discover MGM properties around the Las Vegas strip.

Adam Krejcik, analyst at Eilers Research, recently told Venture Beat that he believes social games may be the very first genre to monetize the Oculus Rift.

Once more, although there is undoubtedly some crossover, social casino customers are not exactly the same as traditional online casino customers. They think like gamers, not gamblers, and their issues are to beat the game rather than experience the thrill of risk-taking.

Thus, the virtual online casinos of the future are most likely to become hybrid hodge-podge of ability games, video games, social games, and conventional casino games – geared towards the millennial generation.

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