While companies have made forays into virtual reality (VR) many times in the past, it finally looks like VR technology will infiltrate various forms of entertainment. And one of these forms of entertainment is online gambling, which will get a big boost from virtual reality. That said, let's look at some of the reasons why VR is the next big wave in internet gaming.
The big reason why virtual reality excites players so much is because of how it figures to change the experience. Currently, you play slots and table games through your PC or mobile device, which is fun thanks to improved graphics over the years. But VR headsets figure to take this to a new level.
For starters, virtual reality can transport you to new places, such as Las Vegas, Macau, and Monte Carlo. You'll be able to visit fabulous casinos in these destinations thanks to your headset.
Another cool thing is that when your head moves, the headset will move to replicate natural motion. This helps you feel more like really present in the virtual world. It's also worth adding that modern VR technology has removed lag from the experience, which successfully tricks your mind into thinking that this is reality.
One previous holdup to VR gambling is the fact that headsets have never been commercially viable. But that's now changed since Samsung's Gear VR, Sony's Project Morpheus, and the Oculus Rift are widely available.
According to Juniper Research, VR is one of the world's fastest-growing technology markets. Within the next 5 years, Juniper expects an 800% increase in virtual reality revenue, jumping from $58.5 million in the current year to $520 million by 2020.
By 2021, the total amount spent on VR goods and services is expected to balloon to $1 trillion. This is a big reason why Facebook's Mark Zuckerberg poured $2 billion into an Oculus Rift investment.
Big tech companies like Facebook, Samsung, and Sony aren't the only ones getting into virtual reality. Noted casino software developers Microgaming and NetEnt are also investing big in VR gaming.
NetEnt launched a 360-degree product called Jack's VR World to give players an idea of its fairy-tale landscape and unique virtual look. Microgaming is developing software and games for a new virtual online casino called SlotsMillion.
Thanks to these investments, "The Consumer Virtual Reality State of the Market" report suggests that one should expect 3D casino games and VR experiences to be profitable within the next few years. Another report by Gamasutra predicts that the VR gaming market will reach $130 billion by 2025, provided everything develops as expected.
If there's one thing that can stop the growth of VR online gaming, it's the cost of headsets. While the Oculus Rift is expected to be the market leader with over 10 million headsets sold by 2017, the average consumer is expected to buy the device right away.
That's because the Oculus Rift costs $350, which is a high price to pay for anybody who's not a hardcore VR enthusiast. Many who are into virtual reality will find the price worth it because these devices are high quality. But the average consumer may wait until the headsets become more affordable.
Regardless of how quickly virtual reality takes off, it's still expected to be the wave of the future with regard to internet gaming. And given the type of experiences that virtual reality can give players, it's very likely that online gambling will become even more popular than it is right now through smartphones and tablets.