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Companies That Will Disrupt The iGaming Industry

 

26.05.21

         

Disruptive innovation is a term often used in academic business management circles and it applies as much to the iGaming sector as any brick-and-mortar industry. This article will introduce you to some iGaming companies that are on the cusp of disruptive innovation. However, we first need to spell out what is disruptive innovation.

Example of disruptive innovation  =>  INNOMPIC GAMES

Clayton Magleby Christensen was the originator of the disruptive innovation business theory. In simple terms it refers to a new process that takes root and over time completely replaces the earlier mechanisms. The classic example is the assembly line manufacture of automobiles at Ford that led to the production of cheaper products and revolutionised the transport market. Within the online gaming industry, the best example of disruptive innovation is live dealer casino games. These games are conducted in actual casino settings and relayed to the players’ devices via fast speed Internet. The experience is so realistic that the simulated roulette and blackjack games at online casinos have become relics of the past.

NetEnt and VR Slots

What Are VR Slots?

Virtual reality (VR) creates an environment that can be experienced as real, but is in fact illusionary. The most common form of VR today is in sports. In VR tennis, for example, once you put on the head set you feel that you are actually hitting the ball with a racket, whereas you are only moving your arms. VR slots create a similar experience. You feel that you are in a console of a slot machine as in a land casino. You can change bets and spin the reels, getting the full immersive experience sitting at home. VR slots are written in a different code from the normal online casino games and you will need the specified headset.

How VR Slots Can Disrupt Existing System

You can play slot games at online casinos from home. No matter how advanced the software is, you cannot get the same experience as spinning slots machines in a brick-and-mortar casino. The latest slot consoles have gigantic double screens and a host of features that just will not work on desktops. VR slots will change this completely. You will get the full audio-visual immersive experience of playing “land casino” slots from home. Just like no one wants to play simulated casino table games now that live dealer games are available, no one will want to play the present online video slots when given a chance to play VR slots. This innovation will be disruptive for land casinos as well, at least to a measurable extent. When you put on a VR headset and connect to the VR slot game you virtually enter the 3D environment of a casino. You can move around and activate the buttons of the slot machine as you would when sitting at the console of a Vegas casino. When you get exactly the same joy from home, why pay to travel to another city to play in a casino.

The Hindrances to Acceptance of VR Slots

There are multiple reasons why VR slots have not become mainstream yet, but NetEnt think they can change that.

The biggest stumbling block is the headset. The Oculus Rift VR headset, or equivalent models, is extremely high priced today. These prices will not support VR slots at a widespread level. Laptops that can support VR software are also priced at the top end. Prices will fall, but the process is likely to be a slow one.

By the time prices of the hardware reach acceptable levels, players must have a reasonable base of VR slots to choose from. Here NetEnt has indicated that it is more than prepared. Some of the most popular online video slots from its portfolio have been recast in the VR format. These have been exhibited at major iGaming expos and are available at selected online casinos for players that have the requisite equipment. You can check out the following titles.

Gonzo’s Quest VR
Jack’s World VR
Starburst VR

 

 

Luckbox and eSports Betting

What Is eSports Betting?

Video games have been popular for decades. The latest products allow multiple players to compete in some way, but they have to be physically present in the same place and connected to the same device. eSports, which is a comparatively recent development, allows players to engage with each other in the same game from different remote locations through the Internet. Already there are many popular tournaments that have massive fan following as well.

Betting on traditional sports is widespread and now online sites have begun to offer odds on different eSports tournaments as well. Most of them follow a similar structure to the regular sports betting markets, with wagers on winners of individual matches, winners of tournaments and many others.

 

 

How eSports Betting Can Disrupt Existing System

During the first six months of the pandemic all sporting events came to a standstill. It was during this period that the awareness of and traffic to eSports betting took a quantum leap. Major sporting events are resuming, but punters have realised the background fragility that exists. Looking back, we have seen cancellation of events due to wars and political standoffs between nations. eSports does not, as yet, involve nations and can be conducted without physical proximity, making it a more viable opportunity. eSports betting will never replace the traditional form, but it definitely has the potential to dwarf it.

There is another aspect of eSports betting that can be a game changer, and that is skin betting. This is more prevalent in jurisdictions where sports betting is illegal. Sites allow punters to bet head-to-head with items that are monetizable or with cryptocurrency instead of real currency.

Luckbox Is a Market Leader in eSports Betting

First of all, Luckbox is a licensed online betting site. It has seen a 500% growth in 2020 largely due to the first mover advantage in the eSports betting arena. The company was listed on the Toronto TSX Venture Exchange last December. With the money coming in from the IPO, there are massive outlays planned, says CEO Quentin Martin.

Luckbox offers markets on all major eSports tournaments, including CS:GO, Dota 2 and League of Legends. The website offers live streaming on hundreds of eSports in your choice of languages.

There Have Been Failures As Well

All innovations do not succeed, and as an example we cite betting exchanges. These allow bettors to act as bookmakers and post odds of their own against which they can take bets from other players. A few betting exchanges have been around for more than a decade but the concept has never become popular.