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How Technology Has Influenced the Sports Betting Industry

As the mobile gaming business is estimated to be worth $100 billion by the end of 2017, we look at how the betting industry has evolved and the role technology has played in its development. Gambling is the act of playing a game for money, usually by placing bets or playing the odds with the goal of winning.

Gambling is extremely popular owing to the euphoric sentiments or adrenaline rush obtained from taking a risk – and this attractiveness hasn't altered since its inception. Despite changes in the sector brought about by technological advancements, gambling and betting have remained popular pastimes and hobbies.

The most popular technologies in online gambling

Experts from BetON predict that technological changes that affect the gambling industry will continue to evolve. The most common technologies are:

  • Artificial Intelligence

Brings great benefit by effectively detecting and instantly blocking fraudulent sites. This increases the security of each player's personal data!

  • Virtual reality.

Many experts note a sharp leap in its development in recent years. This allowed creating game slots that fully immerse the gambler in virtual reality, creating the effect of presence!

  • Blockchain technology

A unique development that allows you to fix the result in any online game without the possibility of adjusting it. Provides a high level of anonymity and confidentiality of the personal data of registered users!

  • PWA technology

It is used by Apple and Google and many virtual gambling establishments. A distinctive feature of such progressive applications is their ability to be installed directly from the phone browser. This does not require the use of third-party services!

All these technologies will make online games even more qualitative, interesting and exciting.

 

What impact have mobile devices and apps had on the sports betting industry?

From retail to restaurants, the internet and mobile phones have transformed the face of numerous businesses. It's unusual to find a firm that doesn't have a digital presence. The gaming business is no exception. Mobile gaming increased by 75% in 2012 and was expected to expand by an additional 84% between 2013 and 2015, with mobile gambling more than tripling in 2014.

Betting apps from the biggest online sport betting platforms have seen a lot of people turn to them. For example, the Bet9ja mobile app is one of the most popular betting applications in Nigeria, and it is just one of the best betting apps available.

E-wallets and online payment methods may be decisive

Major gambling companies have also linked their gaming apps to digital payment systems like Paypal, Apple Pay, and e-wallets. As it becomes more accessible and faster to place bets, this is becoming an increasingly significant part in the betting process. As you can see, the betting market is always evolving, and there are many fascinating new aspects to consider if you want to play effectively. There are so many new online casino sites that the options are nearly overwhelming.

 

Data provided by Market Watch says that the increasing availability of mobile gadgets will increase profits in the online gambling market to $74 billion by 2023. Technological growth and the availability of high-speed Internet connections will contribute to this growth.

The complicated relationship with the blockchain system in different countries does not make it less attractive for casino players. Users from all over the world value the anonymity and speed of transactions, as well as the low commissions not available with fiat currency transactions. The growing popularity of operations with cryptocurrencies has prompted countries regulating gambling to elaborate a detailed legislative framework.

In addition to common tokens, there are specialized coins for online casino games. According to CryptoGamblingNews, the popularity of such currency is growing due to low commissions and the trust of users, due to the impossibility of faking data.

Live-dealer gaming platforms were gaining popularity even before the pandemic and became a sought-after destination during self-isolation. However, the authorities of some countries came out to fight the technology, because, with its help, addicted players can access gambling from anywhere in the world without any problems. Live dealer games in poker and blackjack are in the highest demand, but the arsenal is expanding.

The Next Big Step Is Real-Time Betting

The possibility to gamble on sports in real-time is now possible thanks to advances in digital technology. Today's bookies have a market for real-time betting on anything from basketball and football to darts, table tennis, and even esports. Because gamblers enjoy the rapid and connected aspect of betting live, the most profitable sports betting companies are frequently the best live-betting providers.

Virtual Reality

Virtual reality (VR) has been teasing geeks for decades. Originally conceived in the 1950s, VR was heavily developed in the '80s and '90s. This push largely failed because virtual reality did not become what was promised. In fact, many people who used VR had headaches because of the slow frame rate.

 

Nowadays, VR is content that is played back using special 3D glasses and controllers that immerse the user in a digital world. This can be interactive 3D simulations in games, special panoramic videos. VR content is effectively used, for example, in advertising — it evokes strong emotions in the viewer and allows companies to attract the customer's attention and increase brand awareness.

Now virtual and augmented reality technologies allow users to "visit" a virtual gambling establishment simply by putting on glasses with controllers and logging on to an online platform. A trend in the gambling industry is VR casinos, where virtual customers can sit at gambling tables and interact with other visitors to the establishment.

The appeal to the player are;

  • Full immersion in gaming reality
  • live emotions;
  • direct communication with other people
  • interaction with objects, tactile sensations
  • high quality of games, the closest approximation to the real.

Thus, the virtual reality casino owners get the most involved customer, who returns to the resource to experience positive emotions and take advantage of slots with the highest quality graphics.

With the help of special accessories, card game lovers can appreciate the realism of playing VR poker. To do this, users will need special accessories: Oculus Rift virtual reality glasses with maximum viewing capabilities and Oculus Touch controllers, which allow them to see their own hands inside the virtual space, as well as to manipulate objects with their help.

Conclusion

The numerous ways in which technology is altering sports are revolutionizing the sector. Big-time collaborations are required for online gaming innovation. Traditional land-based casinos, sports leagues, and media firms must keep up.

Advertising in the sports betting sector is accompanied by record-breaking income. With the exponential expansion, digital technology is transforming the sports betting sector.

These changes were hastened by the continuing epidemic. As a result, many countries that are delaying regulated sports betting risk falling behind. They may one day rely on the industry to help them pay off some of their rising debts.

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