NEWS
20
2023
Jun.
Technology
Technology
Is Virtual Reality Casino A Trend or A Fad? (Part 1)
Virtual reality is considered by many people to be the next great chance in the gaming industry. Compared with physical games, VR games go one step further and allow players to use VR glasses and sensory devices to fully immerse themselves in an online environment.
Without leaving home, players can enter a virtual casino with visual and auditory effects from real casinos. In this space, players can interact with other users through life-like games in which the dealers distribute the cards and slot machines.
However, for this industry, is VR casinos a developing trend or is it just a short-term fad? This article uses the following points to explore:
Overview of VR Gaming Market
According to Technavio’s VR gaming report, the compound annual growth rate (CAGR) of the VR gaming market will reach 53.1% from 2020 to 2025.
This result is largely attributable to the casino’s continued growth online. The popularity of online live games, streaming media, and e-sports, as well as the booming of new and promising markets in Europe, North America, Latin America, Asia-Pacific and Africa, make this development trend clearer.
However, there are still many potential obstacles to overcome in the development of VR casinos, including the high cost of VR glasses and peripheral hardware equipment, privacy issues, and supervision uncertainty. These issues will limit the growth of the VR market and the willingness of online players.
VR Hardware and Software Market
At present, VR casino games don’t make up much of the online gaming world. Our goal is to make VR casinos go beyond the previous 3D lobby and create a fully immersive gaming room where users can interact with players and live dealers just like they would in a physical casino.
As virtual reality hardware evolves, we expect these experiences to become even more thrilling. For example, players can walk in the 360-degree simulated environment of the Las Vegas Strip without going out, or enjoy the additional experience brought by the VR game -immersive role-playing game (RPG) etc.
If the number of people buying VR glasses increases, it can easily be expected that VR will become the mainstream of the gaming industry. However, whether this assumption can be true is full of uncertainties. In addition, in the development of VR hardware devices, can developers accurately predict players’ ideas? Or will they face more diverse voices in the market? These are variables that affect the popularity of VR devices.
On the other hand, according to recent data released by YouGov, due to the high price of VR glasses and lack of compatibility, 32% of American players and 24% of British players believe that VR has not achieved its potential. This makes it impossible for developers to obtain corresponding economic rewards on hardware devices; therefore, it is unlikely that software compatible with hardware will continue to be developed; and users will be further reduced because of the difficulty of obtaining software. Whether this vicious cycle can be overcome remains uncertain.
Although the development of VR has been arduous, there are still signs that this market is promising. According to research published by Statista, the global VR market is expected to grow from “less than $12 billion in 2022 to over $22 billion in 2025.”
Without leaving home, players can enter a virtual casino with visual and auditory effects from real casinos. In this space, players can interact with other users through life-like games in which the dealers distribute the cards and slot machines.
However, for this industry, is VR casinos a developing trend or is it just a short-term fad? This article uses the following points to explore:
Overview of VR Gaming Market
According to Technavio’s VR gaming report, the compound annual growth rate (CAGR) of the VR gaming market will reach 53.1% from 2020 to 2025.
This result is largely attributable to the casino’s continued growth online. The popularity of online live games, streaming media, and e-sports, as well as the booming of new and promising markets in Europe, North America, Latin America, Asia-Pacific and Africa, make this development trend clearer.
However, there are still many potential obstacles to overcome in the development of VR casinos, including the high cost of VR glasses and peripheral hardware equipment, privacy issues, and supervision uncertainty. These issues will limit the growth of the VR market and the willingness of online players.
VR Hardware and Software Market
At present, VR casino games don’t make up much of the online gaming world. Our goal is to make VR casinos go beyond the previous 3D lobby and create a fully immersive gaming room where users can interact with players and live dealers just like they would in a physical casino.
As virtual reality hardware evolves, we expect these experiences to become even more thrilling. For example, players can walk in the 360-degree simulated environment of the Las Vegas Strip without going out, or enjoy the additional experience brought by the VR game -immersive role-playing game (RPG) etc.
If the number of people buying VR glasses increases, it can easily be expected that VR will become the mainstream of the gaming industry. However, whether this assumption can be true is full of uncertainties. In addition, in the development of VR hardware devices, can developers accurately predict players’ ideas? Or will they face more diverse voices in the market? These are variables that affect the popularity of VR devices.
On the other hand, according to recent data released by YouGov, due to the high price of VR glasses and lack of compatibility, 32% of American players and 24% of British players believe that VR has not achieved its potential. This makes it impossible for developers to obtain corresponding economic rewards on hardware devices; therefore, it is unlikely that software compatible with hardware will continue to be developed; and users will be further reduced because of the difficulty of obtaining software. Whether this vicious cycle can be overcome remains uncertain.
Although the development of VR has been arduous, there are still signs that this market is promising. According to research published by Statista, the global VR market is expected to grow from “less than $12 billion in 2022 to over $22 billion in 2025.”