Technavio’s 2020 gambling report predicted a 53.1 percent compound annual growth rate (CAGR) for the VR casino sector between then and 2025. This impressive growth rate has likely been sustained by the technological advancements that have defined the entire industry over the same period, including cloud gaming and 5G internet. But VR gambling is far from fully formed. While bigger than five years ago, it remains a nascent industry with immense untapped potential. Below, we look at some of the reasons VR is not yet as big as it should be in 2025:
Barriers to access
Although VR technology has advanced significantly in the last decade, headsets are still heavy and expensive. The equipment required to set up a virtual room in the Betway Casino is not accessible to most people. As it stands, a VR headset costs, on average, $421. Statista predicts that this number will only fall by $1.5 by 2029. This does not consider any special equipment operators like Betway might need to set up fully functional virtual casinos.
Graphics quality
VR experiences are immersive. But impressive as the graphics may be, their quality is still years behind the most advanced video games today. This factor has limited the uptake of virtual casinos because players already access high-definition, 3D graphics and surround sound gaming environments on platforms like Betway.
Regulatory uncertainty
There’s also the matter of regulation. VR is a fairly nascent sector, so regulation around it is still in its infancy. Despite several years of efforts, regulators still view VR casinos as the Wild West of gaming. No state or federal laws currently license, define, or monitor virtual casinos.
Because of this, operators face a hard time trying to set up operations. In 2022 alone, the US came down on two operators, Slotie and Flamingo Casino Club, for allegedly “luring investors into an illegal gambling operation in the metaverse.”
How can VR casinos overcome these challenges?
To gain mainstream acceptance, the VR casino industry must address all the challenges that make it inaccessible to players and undesirable to regulators.
For VR tech innovators and development companies, this means making VR technology lighter and more accessible to a wide range of players across different economic backgrounds. The goal is to get a VR headset in as many homes as the PS5 or Nintendo Switch.
For operators like Betway, there is a need to win over a larger demographic of bettors. This can be done by expanding the quality and quantity of offerings at VR casinos. VR titles and betting options must be diverse and immersive enough to capture the attention and loyalty of casino fans.
Finally, regulation-wise, it still falls to operators to prove their reliability to regulators. They might need to undergo rigorous testing and audits to ensure that VR casinos are safe, secure, and fair for players.
What is the future of VR casinos?
While still a very niche part of the online gambling world, VR gambling is slowly but surely gaining more mainstream acceptance. VR headsets are becoming lighter and more accessible to the public, lowering the barrier to access. Regulators are familiarizing themselves with the VR landscape and implementing stronger, more comprehensive policies. Industry-wise, operators like Betway are exploring new and exciting ways to incorporate VR experiences into their offerings. With all these parts working together, fully virtual VR casinos will be a reality sooner than expected.
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