800% increase in virtual reality expected by 2021
Despite being in it’s infancy, VR gambling has pulled in $58.5 million in wagers. And one research firm is predicted far more than that by 2021. Juniper Research has calculated that online casino’s can expect to see almost $520 million in wagers by 2021. VR is starting to naturally be adopted by different industries, including education, construction, and gaming. Casino’s have been quick to enter the marker and are looking forward to seeing the amount of virtual reality gamblers steadily increasing. What’s driving the predicted increase?
VR gambling will be pushed forward by high rollers
VR headsets aren’t all cheap (some are – check out our list of cheap headsets for Canadians). Who do you think will be gambling online in VR, at least for the short term? Highrollers.
Online casino’s make a huge portion of their revenue from a very small percentage of their player base. These are highrollers who love to gamble. They also have the funds to purchase high end VR headsets such as Oculus rift.
This niche market is going to be wagering higher than the average person. If you can afford the $800 CAD + price tag of some of these high end VR headsets, you aren’t going to be playing the penny slots. That’s not to say VR gambling will only be driven by these highrollers. As costs lower, the userbase will increase.
What does it feel like to step into a virtual casino?
You’ve probably stepped into a real casino before. Instantly, you’re hit by a wave of bright lights and noises designed to get you pumped up to gamble. One online virtual casino, called “SlotsMillion” has the following video to help you get a sense of the feel. The most interesting part to me is not the games but the high tech city in the background!
As cost of devices lowers, vr gambling will hit the mainstream
Headsets are slowly becoming less and less expensive. This is especially true for gaming headsets which are able to be coupled with a console you already own, for example the PSVR, to save on hardware costs. We don’t expect Sony to suddenly open a casino on for their PlayStation, but we do expect that even the higher end options are going to be driven down in price as lower cost options arise. The less headsets costs, the more people are going to be adopting virtual reality aspects of their life that they previously were experience without VR. This includes gaming, education, and yes, gambling.
Mobile phone gamblers may be a big part of the market
You can get a VR headset that works with your mobile phone for between 20 – 30 Canadian dollars. Mobile phone gambling has seen an uptick in the last 10 years as smartphones are now powerful enough to run high graphic games. Now they can even run VR.
If you would like to read the study for yourself, it can be found online on the official site of Juniper Research. Unfortunately it comes with a $4800 Canadian price tag to view the full study. If you aren’t planning on operating a virtual casino of your own, maybe just stick with the cliff notes.