High Rollers To Make Virtual Reality Gambling Market Worth $500M, Research SaysMarket Could Grow 800 Percent Over Next Five Years |
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According to new data from U.K.-based Juniper Research, gross wagers from virtual reality gambling will grow from just over $58.5 million in 2016, to just under $520 million by 2021.
That would be 800-percent growth.
Juniper’s research found that “[virtual reality] gambling deployments over the next five years will be concentrated in the casino space, which will potentially offer immersive, real-world virtual reality locations.”
In other words, a trip to a Las Vegas casino from your couch, not simply to a random blackjack table without the context of the brick-and-mortar property around it.
The group did note that the “high cost” of virtual reality devices “would inhibit the extent of user adoption.” It’s expected that the initial user base would be dominated by smartphone users and PC gamers.
Sales of headsets, 360-degree cameras and other accessories for gaming and virtual reality experiences could grow from a $5 billion market currently to more than $50 billion by 2021.
That would help fuel growth for virtual reality gaming platforms.
In the brick-and-mortar space, VIP customers often dictate a casino’s fortunes. That would be the same situation in the virtual reality gaming realm, Juniper said.
“These [technologies] will be coupled with a niche clientele, often high-rollers, thereby resulting in comparatively large average wager amongst these early adopters,” research author Lauren Foye said.
The growth in casino virtual reality fits with the trend toward mobile and online betting.
Juniper said in a study published last month that the value of all online bets globally will approach $1 trillion by 2021. The value of online wagers this year will be $550 billion
According to a report from CNBC, tech giants from Samsung to Facebook are betting on virtual reality. Social gaming is a major revenue stream for Facebook.
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