VR Expected To Be The Next Big Boom

Tia Winter | 24 June 2019

Virtual Reality tech has been around for quite some time and yet is only now anticipated to be the next market boom, after the sports betting explosion. But why now? Haven’t we heard this all before? The answer to the question is a simple one: money. Thanks to various advances in the manufacturing of VR tech, companies are now in a position to offer their hardware stacks at much more affordable rates than what was previously possible. The result is that more players are now able to acquire the gear than before.

In fact, the change is expected to be revolutionary and the iGaming industry’s VR segment is expected to grow by at least 21.7% over the course of the next 12 months. It makes perfect sense too. Who in their right mind would prefer playing one-dimensional games when they could be fully immersed into a virtual world, whether its as a court-side spectator at the NBA play-offs, or jet-setting off into a magical land of sand and sea where the sun shines bright all year round.

More Available Funds

The rise of the online casino industry has had a lot to do with freeing up the resources needed to slash the prices of VR hardware. Industry players soon discovered that an online presence was more beneficial than just a wider audience; they found that they were saving millions every year thanks to the fact that they suddenly had very few overhead expenses to speak of.

As a result, businesses started to dabble more in alternatives and add-ons to their existing entertainment offerings. Virtual Reality tech and hardware was one of the industries that had started to enjoy a lot of attention in terms of cutting down on production costs. This was achieved thanks to a combination of the development of cheaper tech and freed up financial resources that had become available to spend on actual games development.

Complementary Combinations

The fact that players are constantly looking for more intense engagement with games has helped a great deal and has catapulted the VR industry to the brink of a major take-off, which is where the market is currently at. The rise of the live casino industry has packed a stimulating punch too. Its now possible, thanks to VR combined with live casino games, to enjoy the full experience of an actual casino without even having to leave the house.