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Virtual Reality Gambling to become multi millioners online gambling arena

The virtual casinos are a thing of the near future, such as the one created by Slots Million VR, those casinos will attract high-rolling early adopters, VR gambling is set to grow 800 % over the next five years, reaching $500 million in gross bets by 2020
Most of this growth will be focused on the casino games, predict the experts, as online casinos will increasingly offer vivid, “real-world” VR locations.
That means gamblers rammed into a set of VR goggles will be able to play and interact with virtual reproductions of the major casino resorts in the Las Vegas or Macao

The virtual worlds of the next few years, then, will become the playgrounds of the wealthy since The high cost of VR devices would inhibit the extent of user adoption, with the addressable base in the short and medium term largely limited to early adopters,” s
Currently, while there are several free-to-play virtual reality gambling sites available, there is only one real-money VR online casino up and running, Slots Million VR.

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Key Conclusions by The Australian Online Gambling Commission.

The internet is progressively becoming a major part of commercial and social
exchange.
For both gambler and providers of online gambling products, the growth of the
internet offers considerable benefits. Yet there are also new risks
Although still a relatively modest share of the gambling market, online gambling and betting have shown impressive growth over the last 15 years.
While the Australian Government’s prohibition on online gambling has have lessened its growth, international online gambling websites are being accessed more easily, with the ban having decreasing adhesion over time.
Online gaming offers recreational gamblers lesser costs, more variety and easier accessibility.
Yet, online gambling also poses risks:
– it may enhance problem gambling by its instant accessibility
and availability.– the current Australian ban of online gambling means those Australian online gamblers can only use foreign websites, some of which have business practices.
Regulated Online Gambling has potential benefits over total ban:
1– It could turn consumers from unsafe sites to ones that met severe Australian integrity and consumer safety standards
2– It would also increase competition in the gambling market, with better results for consumers, and provide Australian cooperations with numerous opportunities and would probably yield governments additional tax revenue.)
Nevertheless,legalization of online gambling also poses some risks:
– Given the legitimacy domestic supply would provide, it would also probably lead to an increase of the population that participates in gambling. If these players

The experiences of the rapid legalization of gambling machines in the 1990s provide a helpful lesson about dramatic changes in the gambling environment.
Consequently, a progressive approach to regulated liberalization that started with a relatively ‘safe’ form of online gambling — poker games — would be suitable. The effects of partial legalization could be assessed, as could the harm minimization measures in place before any further legalization was considered.

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