Whenever you cross the threshold into the digital realm these days, you are sure to encounter references to the Metaverse. Many think this is a new concept that only recently popped up. The truth is that the Metaverse has been evolving for years.
Some industries, such as the gaming and online gambling markets, experiment with and use aspects of the Metaverse to enrich virtual experiences. Big tech enterprises, such as Google, Apple and Meta, continually explore Metaverse possibilities and vie for the top spots in developing technologies.
Mark Zuckerberg, founder and CEO of what was previously known as Facebook, renamed his company ‘Meta’, acknowledging his quest for a digitalized realm. Microsoft recently took over Activision Blizzard for a mind-blowing $68.7bn, citing the evolution of the Metaverse as the reason for the acquisition.
The Metaverse is causing a storm on many levels and is likely to affect every aspect of our lives in the future. Despite the buzz it’s causing, many are still baffled and even scared of what it entails.
Defining the Metaverse
The word ‘metaverse’ blends together the words meta and universe. Experts define it as a graphically rich virtual arena with a ‘real’ feel. It focuses on people being ‘present’ in this virtual world and interacting with others who are equally ‘present’.
Those who embrace the concept see it as a digital parallel space where we do business, shop, work, play and socialize as we do in real life. Gamers all over the world have dipped their toes into the Metaverse in one way or another via augmented and virtual reality gaming devices.
Forbes aptly pinned the Metaverse as an imaginary sphere filled with gamers spending hours in front of screens or wearing headsets. They engage in alternative realities where they create and play games while interacting with others worldwide.
This prominent media company further described the Metaverse as a potential network of 3D virtual worlds intended to be highly social. It means users will have virtual identities or avatars with unique characteristics. Essentially, it’s a space where our virtual personas blend seamlessly with our physical realities.
The Metaverse and online gambling
Online gambling is not a newcomer to the digital realm. Microgaming claimed to open the virtual doors to the first online casino – called the Gaming Club – in the mid-90s. As others also laid claims to this ‘top spot’, it’s difficult to pinpoint exactly which company can be credited with establishing the first online casino.
Despite the ‘who-came-first’ squabble, it is certain that digital gambling rapidly grew into a booming and competitive enterprise. Today, avid gamblers can indulge in slots, table games and sports betting where and whenever they want.
Online casinos attract their customers with stunning graphics and interactive games and experiences. Since the establishment of online gambling, game makers and developers have progressed in leaps and bounds to improve the industry and gain more interest.
One of the biggest breakthroughs in this market has been live dealer games, which offer table game fans the opportunity to join live games in real time. Live dealer games touch on the Metaverse and aim to include players in the real-time thrills through streaming. As technology continues to progress, can the metaverse revolutionize online gambling as we know it?
This industry constantly grapples with four main challenges: game selection, player reality, traditional gambling traits and paying methods. The Metaverse addresses these concerns on different levels, promising to make online gambling as ‘live’ as possible.
Online gambling has always had the potential to offer extensive gaming libraries. Some of the best online casinos host countless slots and table game titles. They can do this because they’re not limited by floor space. Megabits are much more accommodating than physical square metres.
Metaverse casinos take available game selections to a new level. Developers and hosting platforms must keep in mind that large selections draw large crowds. Games, which include slots, table games, live dealer games and sports betting, will become truly immersive and interactive with the use of gadgets such as virtual reality (VR) headsets.
An essential consideration is the required computer power needed to provide experiences that don’t lag and buffer. The presentation of an interactive, real-time casino can also allow players to stroll between games and lobbies. Some might prefer to have the ambient add-ons fade out once they sit down to a specific game, while others may like the hustle and bustle around them. Social interactions with other players are another possibility.
Metaverse gambling means players may need to create an avatar or use an existing one when signing up. An entire casino experience will be delivered through a headset. That means no more sore necks and stiff backs from sitting for hours on end in front of a screen or holding up a mobile device.
These real-life gambling experiences will transport players to casino floors. It would be like they actually push the button on a slot or flip the cards around a poker table through their characters or avatars. This is possible because their bodies would perform the functions and their avatars would execute them.
Traditional gambling traits
Not being able to read another player is one of the drawbacks of online gambling, with poker in particular being troublesome. Many felt this inability to refer to the body language and gambling intentions of fellow players broke down essential gambling traits. For example, one cannot read a poker player’s ‘tell’ in an online game, while it may be easily spotted in a land-based poker tournament.
However, the Metaverse aims to solve this interactive problem. People are virtually linked to their avatars through their devices. So, when they frown or wipe their foreheads, their avatars would do the same in the digital universe. In this way, Metaverse gambling makes it easier for people to read games and make informed decisions.
Presumably, people will deal with cryptocurrencies in the Metaverse. This will eliminate many concerns of online gamblers.
International banking transactions are costly and often leave loopholes for fraudulent activities. Digital transactions are quick and decentralized. Deposits and withdrawals can be processed much quicker, with lower transaction fees.
The Metaverse undoubtedly holds endless possibilities for the online gambling industry. Be sure to check out the best Metaverse casinos to experience this new world.