Years ago sports betting used to have a questionable reputation. Not only was it illegal in many countries – including in the majority of the US – it was looked down on by polite society even in the regions where it was permitted. A lot has changed in recent times and much of the transformation has come through advances in technology.
Now any bookmaker claiming to be the best online sportsbook the USA has to offer has a far more diverse customer base and provides an incredibly user-friendly service. Technology, alongside the easing of legal restrictions, has certainly changed how the gambling industry is viewed. But what are the big tech advances? And what can we expect in the near future?
Before we gaze into our crystal ball and predict what will happen, let’s take a moment to celebrate the biggest advance in online sports betting in the last 15 years or so. The move online definitely changed sportsbooks forever. But the use of mobile devices has revolutionized gambling.
The convenience of placing a bet on a mobile device is the main reason why the majority of customers now bet on their phones. The uptake in app downloads shows just how popular this form of betting is. We live in societies run on our phones now and sports betting has become more mainstream because of that.
Cryptocurrency and Blockchain Technology
Talking of making a move to the mainstream. This is a slightly more recent tech advance, but online sports betting firms have never been slow to take notice of new ways to make money. The volatility of the markets doesn’t seem to have put them or the customers off and cryptocurrencies are now accepted as a payment method at many sportsbooks.
With online scams and concerns over traditional financial transactions on the rise, the use of blockchain technology to provide a secure way of betting has become more popular. Sportsbooks are also happy that they do not have to pay so many third-party transaction fees and will sometimes pass on the saving to the customer. It seems like a win-win situation.
It is not only with crypto that betting companies have embraced technology though. The entire payment system of every sportsbook has been transformed thanks to new ways of making financial transactions. It hardly seems conceivable that these sites used to offer minimal ways of making a deposit or withdrawal.
Sportsbooks soon went past the point of only accepting debit and credit cards and bank transfers. E-wallets are seen as a much more efficient payment option in many places and the popularity of mobile money services in countries in Africa has been noticed and adopted to great effect. It is incredibly easy to make a transaction these days.
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We mentioned before that betting companies are not slow in adopting new technology and one of the biggest moves at the moment is with artificial intelligence (AI). Although there has been a lot of concern over how AI is supposed to be “taking over” in some spheres, there seems to be a bright future in the world of sports betting.
Sportsbooks are using AI to provide their customers with the most precise odds – in real-time – in a move that benefits both sides of the deal. The huge amount of information that can now be analyzed and passed onto the customer means that this is one area that sportsbooks are more than willing to invest in.
This last aspect of technology that is directing online sports betting in a new direction is one that seems to have been around for a while. It is true that rudimentary VR sets have been available for years now, but the gambling industry now has cutting-edge technology available to offer new – and potentially profitable – services for their customers.
Sportsbooks and online casinos can now promise a far more immersive and interactive experience for those who want it. Being able to virtually walk around an online casino is a huge draw for some and other simulations are possible across sports and casino gaming. VR will be just one of many technological advances adopted by bookmakers in years to come – and the customers will be the ones to benefit.