How Digital Technology is Changing the Betting Industry

How Digital Technology is Changing the Betting Industry

Technology has become an integral part of every business activity. Without an iota of doubt, in this digital era smartphones have become a necessity than a desire. Many entrepreneurs are collaborating with cloud computing, improving operations through cognitive computing and AI. Moreover, extracting key insights by data analysis. In fact, it’s just scraping the surface. 

Furthermore, technology is creating a good industry great including the business owners. With all this, it’s no surprise to say that the future industries are powered by digital technology. Hence, small and medium businesses are implementing technologies in their planning methods and streamlining the integration process that makes an effective room for further expansion. 

According to recent studies, 2/3rds of CEOs globally started focusing on digital strategies and improving customer experience. And betting is no different from this. It has also created momentum, behind this digital evolution and providing better customer experience. 

Currently, mobile betting is popular across the globe. There are many mobile-friendly websites and downloadable apps. As technology has taken a forward step, Mobile bookmakers ratings have also advanced. In fact, every website is offering some type of mobile betting facilities. In this article, let’s see how technology has changed and improved the betting industry.

The transition from the earlier digital betting industry 

In the earlier days, it was only bingo and poker which quickly went online. They were easily replicable as they were popular in brick-and-mortar games. With the rise of the internet, you can play these games at any time of the day by laying down on your couch. This encourages gamblers to wage either at low stakes or no costs attracting even the novice players. 

Broadband era: On the contrary, when broadband has widespread, the sports betting industry has fully swung with superior casino-style experience, gaining trust among the consumers was a paramount feature. Because of this reason, sports betting companies have heavily invested in securing their website and developed reputations on integrity. With this, more players inclined to play online frequently. 

Mobile technology: In the age, where communication is possible globally with only a few clicks, punters can enjoy placing bets from any place. There is a myriad of options available with high-quality performance and constant connectivity. Since 2011, these games have doubled year-on-year. Betting companies are now allowing their punters to recharge their balances securely by simply texting. With this, many punters instead of travelling to local bookmakers shop, place their bets at the comfort of their homes. The sports betting industry is still advancing and researching to run virtual reality apps taking the industry much farther. 

On the whole, digital technology is totally changing the face of the betting industry. Furthermore, by 2020 it is reported that the technology is accountable for more than half of all the betting online. 

Esports emergence

Esports has been a recent phenomenon and attracted the attention of the audience globally. It has changed the perspective of the world completely. Moreover, betting on esports has become a big thing at present. You can now enjoy electronic sports or video gaming and win prizes.  These new video games are excellent and land you the higher unknown world. The salary of a professional player is higher than the doctor’s income. This is one of the fastest evolving industries with many popular esports like league of legends, call of duty, counter strike and Dota2.

According to statistics, the global esports betting will be worth $30 billion by 2020. 

Jurisdiction free

Technology is advancing and expanding its horizons through satellite and bookmarkers need not base their operations on the terrestrial grounds. This gives bookies more freedom and punters can win the odds without any laws or wagering restrictions. Besides, there are no taxes, expensive overheads. The sportsbooks can maintain constant contacts with cloud and satellites uplink. With this, the advantages of players can be many and the privacy can be maintained 100%. They would even get best deals and odds with great promotions. It is noteworthy to say, that technology never stops improving. There is something new to create a comfort level while gambling. Thus, many international sports bookmakers operate and provide jurisdiction free betting on major sports like racing, online games, poker in various languages. 

VR Betting

Don’t you agree that the virtual reality is taking the betting industry to the next level? Yes, it is. This is evolving at a faster pace and penetrating betting industry in multiple ways. Furthermore, this will change the betting experience, enabling gamblers to leverage their understandings of the concerned sports. With this, punters can now place a bet on fantasy sports along with real-life games. By using VR technology you can be placed near the gameplay. 

For instance, fantasy sports players such as golf, basketball, football and hockey use their headsets and controls and opt for specific count area and bet on particular players who are scoring well. All such micro bets change the perception of online betting. Thus, traditional betting is far-reaching than that of VR. The latter can give you the feeling of being physically present at the event. For instance, if you’re betting on a car racing, the VR betting offers you to watch the race as if you’re attending the live event. On the whole, VR is becoming an integral part of this massive industry and giving chances to everyone to win a jackpot. 

Cryptocurrency betting

As a consequence of much toiling and hard work, sitting in front of the desks, blockchain developers have blessed gambling industries with marvellous incentives for participating in sports betting. That is why the number of bitcoin sports betting is increasing every year. 

The blockchain betting industry is becoming competitive with thousands of sites to opt from. With this response, online gambling sites are providing more crypto bonuses and attracting high rollers. With cryptocurrency and bitcoin, gambling has become more alluring due to quick deposits and withdrawals. There are low pays and many games to select from. This industry also makes sure that the privacy of punters is not disturbed and they have the flexibility of staying anonymous. The gamblers can place the bet without declaring their address and name. 

Offering best customer experience

Considering the present scenario, it is hard to imagine life without a smartphone and the internet. Consumers are expecting more engaging experience at just a flick of a button. The impact of digital experience is impacting every consumer market. Moreover, they are expecting an easy payment process when online gambling and casino industry is taken into regard. If you are an international player, there is a flexibility of paying in your local currency also. 

Online data is also playing a key role in delivering excellent customer experience. Many industries are leveraging Google analytics to know the behaviour and create personalized offers which are more relevant. Though there is no magic wand to create an impressive experience, there are few elements that contribute it like 

  • Gameplay 
  • Graphics and sounds 

And of course, how can you forget the security, fraud and malicious acts prevention measures. The betting industry is trying to avail them, encrypting their apps or sites and safeguarding the sensitive data through the entire transaction. 

Future of the betting industry

As the years pass by, though land-based games still continue to be there, however, online gambling will rapidly expand its innovations. The target audience for smartphone players is around 18-35 who play their games at the comfort of their living room. There will be improvements in cryptocurrency and blockchain technology and maximum reliability and trust among punters. More transparency is maintained. With smart payments, transaction and easy money transfers, exchanges have become real. With VR the customer experience looks promising and you need to wait till it gets transformed completely. The experience of online gambling through multiple devices, particularly mobile phones, helps the industry increases the number of players and reaches the next level. 

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