Will The Metaverse Change Online Gambling Forever?

Casino Games on Left Man with VR Headset on on Right and Meta Logo Top Center

No longer are the works of William Gibson and Philip K. Dick pure science fiction, they are becoming reality.

In one of Gibson’s seminal novels, Neuromancer, he imagines a cyberpunk dystopia where people can jack into the web, projecting their consciousness into the Internet.

While the Metaverse won’t be so cyberpunk, it still changes the Internet from a 2-dimensional platform into a 3-dimensional one.

And that will certainly change how we perceive, and use, the Internet. Everything from video games and marketplaces to online gambling.

Gambling in particular has a promising future in the Metaverse, and there are already companies working on the next big thing for real money online casinos.

What is the Metaverse?

Mark Zuckerberg, the head of Facebook, announced at the end of October that his company would be working to develop an augmented, online world known as the Metaverse.

The term Metaverse comes from the 1992 novel by Neil Stephenson, Snow Crash. In his novel, the Metaverse acts as the next generation of the Internet, a 3D virtual reality where people can customize their avatars and interact with one another.

And Zuckerberg treats Snow Crash like the Metaverse bible, claiming the new platform will be the future of the internet.

It’s not just Facebook’s CEO who’s in on this, either. Many big tech companies across the industry are preparing to initiate the Metaverse, including Microsoft and Google.

But how will the Metaverse work?

The Metaverse and VR

One of the primary aspects of the Metaverse is that it’s a virtual reality world, far beyond the scope of any VR applications we know today.

Using VR headsets like the Oculus Quest or the HTC Vive Cosmos, players will be able to load into the Metaverse to:

  • Customize their avatar
  • Purchase items from online marketplaces
  • Play games
  • Interact with friends
  • Gamble at online VR casinos?

There is a bit of a tech barrier to the Metaverse, to be frank. Good VR headsets that are equipped to deal with the size of the Metaverse range anywhere between $300 to $1,500. And you’ll have to be connected to a reasonably powerful PC, which with the rising costs of graphics cards and other computer components, will cost you a pretty penny.

Playing Virtual Reality

Speaking of pennies, you might be wondering, what is the currency of the Metaverse? Dollars, Euros, Bitcoin?

What Will be the Currency of the Metaverse?

When Metaverse was announced back in October, Zuckerberg commented that non-fungible tokens (NFTs) would be supported on the platform.

For those of you who don’t know, NFTs are digital assets that run on blockchain technology, the same tech that drives the cryptocurrency industry. NFTs can be anything, including art, music, GIFs, memes, text—essentially anything that can be supported on a digital platform can be an NFT.

Now, it’s unlikely that NFTs will become the currency of the Metaverse, because the platform as a whole needs to undergo a significant restructuring to define value.

However, it’s highly likely that cryptocurrencies like Bitcoin, Ethereum, and Litecoin will be the dominating currency in the Metaverse. They’re fast, secure, and widespread.

Many people are already using cryptocurrencies for gambling at online casinos and sports betting sites, so why shouldn’t that roll over into the Metaverse?

Cryptocurrency Casinos In the Metaverse

Popular online casinos like Las Atlantis and Wild Casino have already been allowing players to make deposits and withdrawals using cryptocurrency. And frankly, it’s the future of online gambling.

The security that the decentralized crypto world provides is unrivaled among other banking methods, and with a growing community of users, it will only become more viable.

And companies are already taking the idea of the Metaverse and pairing it with cryptocurrency gambling.

Atari announced back in August that it would be adding a cryptocurrency-based casino to its own metaverse, Decentraland. This casino would allow players to play slots, table games, and lottery-style games in virtual reality using crypto.

Woman Wearing Virtual Reality Headset, Casino Slot Reels

Atari stated that cryptocurrency is the ideal currency for virtual online gambling because the “system’s betting logic” will be stored in the blockchain to prevent scams and game-rigging.

The Metaverse Might Change Online Gambling As We Know It

If you’ve ever walked into a big casino, you’re probably amazed by the flashing lights, the high ceilings, and hundreds of people milling about itching to win big.

Imagine that, but virtually. That’s what the Metaverse offers for online gamblers.

In the early days of the Internet, online casinos were the next big thing—a way for people to gamble without going out.

And as technology became more advanced, live dealer games upped the ante on realistic online gambling.

But now, the Metaverse offers a whole new experience. It pairs the safety and security of gambling in your own home with the tactile experience of a real, brick-and-mortar casino.

If Metaverse online casinos take off, which we’re almost certain they will, you’ll be able to interact with other players, place bets in real-time, and even purchase goods (NFTs?) from the casino with your winnings.

And when you’re ready to go, take off the VR headset, and boom, you’re already home.

Sports Betting in the Metaverse

Online casinos aren’t the only kind of gambling the Metaverse might provide its users.

Picture attending an NBA game in real-time all through your VR headset. And then implement state-of-the-art sports betting tech powered by crypto.

Sports betting in the Metaverse would be the equivalent of attending a game in real life with an actual bookie where you can place bets and receive your winnings.

The Metaverse in a Nutshell

The Metaverse will do for online casinos what the Internet did for brick-and-mortar casinos in the 1990s. It will take the gameplay experience people love and make it accessible from anywhere with an Internet connection.

How far off is the Metaverse? Well, big tech is already hard at work designing the software to implement the Metaverse, and within the next decade, we’ll definitely see a palpable platform where we can gamble online, interact with friends, and play games.

Even though the federal government is in the midst of a crackdown on big tech, the Metaverse is more than just a virtual reality owned by Facebook. Zuckerberg proposed that it would be a collaborative effort, with multiple tech giants in on the project, as well as thousands of users itching to be a part of the project.

At the end of the day, there’s no doubt that the Metaverse, and realities like it, will change our online world forever.