Gross wagers from virtual reality gambling will grow nearly 800 percent over the next five years, according to a report released by Juniper Research on Monday.
In Juniper’s Mobile & Online Gambling: Casinos, Lotteries, Betting & VR 2016-2021 report, VR gambling will grow from $58.5 million this year to around $520 million in 2021.
“VR gambling deployments over the next five years will be concentrated in the casino space, which will potentially offer immersive, real-world VR locations,” said the company.
The research however also cautions the high cost of VR devices may hinder user adoption rates, with only early adopters being game in the short and medium term.
Research author Lauren Foye said the initial user base would primarily comprise of smartphone VR players, alongside users of top-end PCs seeking the highest fidelity experience.
“These will be coupled with a niche clientele, often high-rollers, thereby resulting in comparatively large average wager amongst these early adopters,” said Foye.
The research also notes the trend of VR will follow the that of mobile and online gambling – which is set to account for 40 percent of total gross gambling wagers by 2021.