What will be the next big industry move?

[madnessteat]

You're right, the casino will definitely do a lot more than just taking advantage of the NFT hype or the Metaverse which if it were temporary it would be better if the casino didn't want to. Just as casinos have long-term prospects and the profits they have made on gambling have actually been huge. Adding gambling to the world of the Metaverse may be a start, but that doesn't mean it's accessible to all gamblers.

Doesn't the availability of different functions of the Metaverse to different people cancel its meaning? It will no longer be the Metaverse, but a set of services. On the other hand, no Metaverse will be able to allow gambling for everyone due to the requirements of the regulators. I wonder how the creators of the Metaverse will solve this problem.

Good question. I think that the creators of the metaverses will add innovations gradually and the metaverses themselves will be constantly in development. If they want to add gambling, of course they will have to get a license. It seems to me first they need to attract users and if they succeed, it will not be difficult to get a license. Although maybe the regulators will have a special approach to metaverses. I think in the next couple of years we'll find out how things will go with the regulators.

[CDC AP]

Actually I don't what will the regulators next approach on the next generation Online Casino since most of them is moving toward Web 3.0 format which is a completely decentralized. I wonder how can they still regulate or required KYC procedure for gamblers that playing on exceeding amount of the required for the KYC.

[madnessteat]

^

In fact, even if the casino will be decentralized it will have founders who will answer the questions of regulators. As practice shows even decentralized sites such as Uniswap can face problems caused by regulators. Besides, regulators can change their rules at any moment since the regulatory laws were written a long time ago.

[KTChampions]

Doesn't the availability of different functions of the Metaverse to different people cancel its meaning? It will no longer be the Metaverse, but a set of services. On the other hand, no Metaverse will be able to allow gambling for everyone due to the requirements of the regulators. I wonder how the creators of the Metaverse will solve this problem.

Good question. I think that the creators of the metaverses will add innovations gradually and the metaverses themselves will be constantly in development. If they want to add gambling, of course they will have to get a license. It seems to me first they need to attract users and if they succeed, it will not be difficult to get a license. Although maybe the regulators will have a special approach to metaverses. I think in the next couple of years we'll find out how things will go with the regulators.

The problem is that it won't be a matter of one or more licenses. Each state in the world has its own view and rules for gambling. I think you will agree that it would be strange if different users in the same Metaverse have radically different rights (because they are from different countries). This is taking into account the fantastic option that the creator of the Metaverse will settle all legal cases with all countries at once.

[passwordnow]

You're right, the casino will definitely do a lot more than just taking advantage of the NFT hype or the Metaverse which if it were temporary it would be better if the casino didn't want to. Just as casinos have long-term prospects and the profits they have made on gambling have actually been huge. Adding gambling to the world of the Metaverse may be a start, but that doesn't mean it's accessible to all gamblers.

Accessible that there would be some requirement before a gambler can proceed and join that additional feature if it's on Metaverse. That's the talk of majority right now because there's the bigger that everyone sees with it. NFT hypes cannot last for long and that's why they just can't depend on it, the important thing with them is to cope up whatever is the likes of the customers for them to keep themselves on the trend just as what their customer wants them to see adopt.

And one more thing we need to laugh about together about the NFT hype. For example, we are in the trend of NFT picture A which is very hype and has attracted many fans to spend big money just to buy it. Meanwhile, the promoter knows when the NFT hype must last and when the NFT hype must immediately sink. So when we come in the last queue to buy NFT which in fact dims in a short time? who is harmed? none other than the ultimate buyer.

While in our gambling we will maintain the existence of betting and continue to be updated with effectiveness like betting in a sportsbook that will never go out.

It's true about the hype and it's easy to find out if the hype is about to die. Just like now, many of these NFTs have dropped in their prices which makes them not that trending anymore.
And in gambling, we're just going to keep on betting no matter what's the trend and as long as we get to stay with the casino where we're playing and that's all the reality with it.

[Alisha-k]

You're right, the casino will definitely do a lot more than just taking advantage of the NFT hype or the Metaverse which if it were temporary it would be better if the casino didn't want to. Just as casinos have long-term prospects and the profits they have made on gambling have actually been huge. Adding gambling to the world of the Metaverse may be a start, but that doesn't mean it's accessible to all gamblers.

Doesn't the availability of different functions of the Metaverse to different people cancel its meaning? It will no longer be the Metaverse, but a set of services. On the other hand, no Metaverse will be able to allow gambling for everyone due to the requirements of the regulators. I wonder how the creators of the Metaverse will solve this problem.

Good question. I think that the creators of the metaverses will add innovations gradually and the metaverses themselves will be constantly in development. If they want to add gambling, of course they will have to get a license. It seems to me first they need to attract users and if they succeed, it will not be difficult to get a license. Although maybe the regulators will have a special approach to metaverses. I think in the next couple of years we'll find out how things will go with the regulators.

Is it really possible to attract people to the site without having a license? I'm surprised...
This means that they're gonna end up not convincing enough people to thier site except they just wanna create awareness for the mean time, but if they need patronage at this point then I think it will be all a nill efforts..
Don't you thing making it decentralized will only incure more spamming and scammers will liverage on that privilege too?

[magneto]

Actually I don't what will the regulators next approach on the next generation Online Casino since most of them is moving toward Web 3.0 format which is a completely decentralized. I wonder how can they still regulate or required KYC procedure for gamblers that playing on exceeding amount of the required for the KYC.

I doubt that there is much that they can do.

Which is probably a good thing given that regulatory issues have always plagued the crypto gambling industry, and has forced casinos to instate draconian KYC procedures at times.

With these new Web3 innovations, it can be possible that there will be much less red tape and therefore more efficiency in the gaming experience for users.

[madnessteat]

The problem is that it won't be a matter of one or more licenses. Each state in the world has its own view and rules for gambling. I think you will agree that it would be strange if different users in the same Metaverse have radically different rights (because they are from different countries). This is taking into account the fantastic option that the creator of the Metaverse will settle all legal cases with all countries at once.

If I am not mistaken, centralized trading floors can already operate in several jurisdictions.

Is it really possible to attract people to the site without having a license? I'm surprised...
This means that they're gonna end up not convincing enough people to thier site except they just wanna create awareness for the mean time, but if they need patronage at this point then I think it will be all a nill efforts..
Don't you thing making it decentralized will only incure more spamming and scammers will liverage on that privilege too?

The license has nothing to do with attracting users. To create a metaverse that will have a wide range of entertainment will take more than one year, and they will all be added gradually. I do not think that the first thing the developers will launch a casino as they primarily focus on a different audience.

[jostorres]

Gambling industry is on the move in the last years. Legalisation across Europe and USA has forged new empires, online gaming has received all the positive impacts from COVID confinements and it seems that is going to be plenty of consolidation in the future. What is your personal bet on the next big events in the betting industry?

It can be anything related to 3D simulation or virtual reality by P2P gaming or it can be an adult-only version of usual gambling or betting on day-day events on social media or anything which involves latest technology like AI or brain and hormone simulators based.

I guess gambling industry will grow multi-fold from here because people needs big and wild entertainments than what they have today and they are ready to spend big as well. So, we are going to experience rapid advancements in gambling industry in coming years for sure. But, personally I prefer P2P betting but people like me cannot do anything about the upcoming drastic changes but need to adapt to new environment or new methodology of gambling.

[KTChampions]

The problem is that it won't be a matter of one or more licenses. Each state in the world has its own view and rules for gambling. I think you will agree that it would be strange if different users in the same Metaverse have radically different rights (because they are from different countries). This is taking into account the fantastic option that the creator of the Metaverse will settle all legal cases with all countries at once.

If I am not mistaken, centralized trading floors can already operate in several jurisdictions.

Depending on what specific sites you mean. Even such a payment system as PayPal has different requirements for citizens of different countries. And if we are talking about gambling, then I am sure there will be no consensus among different countries regarding this issue, since this is a “sensitive” issue and different countries solve it with diametrically opposed methods.

[molsewid]

It can be anything related to 3D simulation or virtual reality by P2P gaming or it can be an adult-only version of usual gambling or betting on day-day events on social media or anything which involves latest technology like AI or brain and hormone simulators based.

I guess gambling industry will grow multi-fold from here because people needs big and wild entertainments than what they have today and they are ready to spend big as well. So, we are going to experience rapid advancements in gambling industry in coming years for sure. But, personally I prefer P2P betting but people like me cannot do anything about the upcoming drastic changes but need to adapt to new environment or new methodology of gambling.

Yes, you're right mate people today search for a more big and wild entertainments especially online entertainments were become one of the most practiced today because of the pandemic. And I bet that online entertainments will never be out of the picture even if pandemic gone. Online gambling have already started last year but i'd still believe that it will continue to rise this year especially if the metaverse feature became part of it. Though I'm not sure enough but who knows right, technology keeps on changing and developing.

[Smartprofit]

You're right, the casino will definitely do a lot more than just taking advantage of the NFT hype or the Metaverse which if it were temporary it would be better if the casino didn't want to. Just as casinos have long-term prospects and the profits they have made on gambling have actually been huge. Adding gambling to the world of the Metaverse may be a start, but that doesn't mean it's accessible to all gamblers.

Doesn't the availability of different functions of the Metaverse to different people cancel its meaning? It will no longer be the Metaverse, but a set of services. On the other hand, no Metaverse will be able to allow gambling for everyone due to the requirements of the regulators. I wonder how the creators of the Metaverse will solve this problem.

I also would not believe that this problem can be realized properly. Therefore, Metaverse-based gambling will only be a platform that can be accessed by people who are financially loyal in gambling. While we still will not be too interested in trying it. Btw our gambling at the casino is still more effective and more accessible than with the much more complicated Metaverse gambling.

The writer and philosopher Nassim Taleb introduced the concept of antifragility.  Taleb wrote that the longer a concept exists, the more likely it is to exist in the future. 

Yes, she can transform.  Nevertheless, it will exist in the new future... 

The casino concept is very antifragile.  Casinos have been around for a very long time.  There used to be off-line casinos.  Now online casinos dominate (in the context of the Covid-19 coronavirus pandemic, they are safer). 

As for the concept of the Metaverse, it arose quite recently.  The Metaverse is not antifragile.  The casino will most likely always exist. 

However, will the Metaverse exist? 

Or is it a stillborn concept? 

We don't know the answer to this question for sure.

[yazher]

Doesn't the availability of different functions of the Metaverse to different people cancel its meaning? It will no longer be the Metaverse, but a set of services. On the other hand, no Metaverse will be able to allow gambling for everyone due to the requirements of the regulators. I wonder how the creators of the Metaverse will solve this problem.

The regulations would be the main problem because making those systems and software is not cheap and it requires lots of teams to do so and lots of money are involved. It would be a real gamble if they will stay unanimous with the authorities, but if they decide to become transparent, the regulations will gonna hurt them but they will be safe from illegal activities. Right now, every eyes are on the Metaverse development the new future is ahead of us and entertainment is coming to our home as we've never seen before.

[michellee]

Doesn't the availability of different functions of the Metaverse to different people cancel its meaning? It will no longer be the Metaverse, but a set of services. On the other hand, no Metaverse will be able to allow gambling for everyone due to the requirements of the regulators. I wonder how the creators of the Metaverse will solve this problem.

The regulations would be the main problem because making those systems and software is not cheap and it requires lots of teams to do so and lots of money are involved. It would be a real gamble if they will stay unanimous with the authorities, but if they decide to become transparent, the regulations will gonna hurt them but they will be safe from illegal activities. Right now, every eyes are on the Metaverse development the new future is ahead of us and entertainment is coming to our home as we've never seen before.

They need to discuss what kind of regulations between both sides so they can know what they need to modify and can benefit both of them. If the government only applies the regulations without inviting the casino to involve, that will make it the casinos difficult to follow what the government wants. Sooner or later, the government will take involve in Metaverse by applying the regulations but without any discussion with the related institutions, that will not fully work because that can be a boomerang for both of them.

[blockman]

Actually I don't what will the regulators next approach on the next generation Online Casino since most of them is moving toward Web 3.0 format which is a completely decentralized. I wonder how can they still regulate or required KYC procedure for gamblers that playing on exceeding amount of the required for the KYC.

Well, if it's just about the regulators, there's no need for them to adopt such new trends and they'll just go with the flow whatever they're currently doing.
There's no need to change a lot because of web 3.0 as they're just going to regulate whatever is happening in the side of the casinos and operators. Whichever format and trend they do, the regulators would just approve and disapprove if it's against their law and nothing much about the technology.

[paxmao]

You're right, the casino will definitely do a lot more than just taking advantage of the NFT hype or the Metaverse which if it were temporary it would be better if the casino didn't want to. Just as casinos have long-term prospects and the profits they have made on gambling have actually been huge. Adding gambling to the world of the Metaverse may be a start, but that doesn't mean it's accessible to all gamblers.

Accessible that there would be some requirement before a gambler can proceed and join that additional feature if it's on Metaverse. That's the talk of majority right now because there's the bigger that everyone sees with it. NFT hypes cannot last for long and that's why they just can't depend on it, the important thing with them is to cope up whatever is the likes of the customers for them to keep themselves on the trend just as what their customer wants them to see adopt.

Crypto and NFT in general have that in common, there is an intrinsic value in a cryptomarket and the projects that are being developed around crypto as well as commercial uses of technology and, alongside, there is a massive hype that sends the cost to astronomic proportions. Something like that is likely to happen with the metaverse real-state. My take is that the owners of the platform will use that trend to their own advantage, putting to auction lots of property and leading users to their preferred locations.

[CDC AP]

Actually I don't what will the regulators next approach on the next generation Online Casino since most of them is moving toward Web 3.0 format which is a completely decentralized. I wonder how can they still regulate or required KYC procedure for gamblers that playing on exceeding amount of the required for the KYC.

[Silberman]

Actually I don't what will the regulators next approach on the next generation Online Casino since most of them is moving toward Web 3.0 format which is a completely decentralized. I wonder how can they still regulate or required KYC procedure for gamblers that playing on exceeding amount of the required for the KYC.

Without a doubt this is a challenge that governments all over the world are facing, before the apparition of bitcoin it seemed we were going to eventually reach a point in which the centralization of power will be nothing more but a given and people will just have to accept it, however now decentralization is slowly countering that tendency and this is something that governments despise, as all their efforts over the last decades are crumbling before their eyes.

[Desmong]

The emergence of the blockchain has made it easier for another new phase of gambling to spur out of nowhere making it too easy for one to play a bet without using the normal paper money. Crypto bet is now everyone corners of the internet making it too easy to enter into the gambling world if only you have cryptocurrency in your wallet. Very soon gambling will be based on different aspect and field.

[Fortify]

Let's dedicate a little time to see the last decade headlines on gambling and business (or rather the business of gambling):

https://medium.com/@visualmodo/online-gambling-history-18caa7ec7758

Some headlines:

- Online sports betting sites come to live in the middle of 90s. These have evolved massively (online poker did not even have graphics at first).

- Regulations on gambling are clarified and old laws reinterpreted 

The Wire Act prohibits the electronic transmission of information for sports betting, but a 2002 ruling crucially ruled that “in plain language” it does not prohibit internet gambling on a game of chance

- In 2019, Disney generated around 55B. The gambling industry 59B.

Gambling industry is on the move in the last years. Legalisation across Europe and USA has forged new empires, online gaming has received all the positive impacts from COVID confinements and it seems that is going to be plenty of consolidation in the future. What is your personal bet on the next big events in the betting industry?

There's always going to be new methods of expansion. Crypto still seems to be missing a large scale peer to peer betting platform that I know of, and that can be taken a step further to be decentralized as well. There are new sports getting created and gaining followers every day - especially in sectors like eSports where new games are regularly created. We might start to see more consolidation of casinos, but this will be carried out behind the scenes, so you might find the biggest ones buying out smaller competitors if it increases their revenue and they can find sellers. Africa seems like a growing market right now, although it could be tricky and there is limited money flowing around the continent.