How Technology Has Changed Sports Betting

The sports betting industry has evolved with the growth of technology. In fact, advancements in technology have made sports betting much easier for both the bookmakers and the betting public.

Let’s take a look at how technology has improved the sports betting industry.

Online and Mobile Betting

The rapid rise of the sports betting industry can be linked to the advancement of mobile and online betting technology. Sports investing has gone from traditional in-person wagering to simple and convenient on the go betting.

Because of this, wagering at online sports betting sites has never been easier. People no longer have to walk into a sportsbook to wager on sports. They can now use their desktop computers and mobile phones to make deposits, place bets, and request payouts.

ALSO CHECK:  ITIL 4: Everything you need to know about the certification and exam

Digital Marketing

Because of technology, people are using the internet more than ever. 45% of the world’s population use social media. With users spending an average of two hours and 23 minutes using these platforms, the web has become a marketing battleground.

The sports betting industry has shifted its marketing campaign online with most major sports betting sites owning accounts across all social media platforms. Because the internet has no boundaries, digital marketing has enabled them to reach more potential gamblers with their offers and deals.

ALSO CHECK:  Create free online infographics: the 5 best tools

Encryption and Tokenization

Technology has also given a solution to the issue of security on the internet. With personal and financial data being used in online and mobile gambling, the threat of cybercrimes is always present.

Because of this danger, online betting sites are using technologies such as encryption and tokenization to secure their members’ sensitive data from malicious parties. The two work differently but are equally effective in preventing a breach of confidential member information.

Virtual Reality

VR, or virtual reality, is another technological advancement that has impacted sports betting.  Betting on football is still the top revenue generator for online betting sites but horse racing and virtual betting are not far behind.

ALSO CHECK:  Cable TV in Nigeria: Your Choices

Virtual betting simulates games like soccer, basketball, and horse racing among others using VR technology. Because it uses a random number generator (RNG) to decide the outcome of games, virtual betting appeals to most, especially beginners, because they don’t need the knowledge to win sports bets.

Wearable Technology

Aside from mobile phones and gadgets, people are investing in wearable gadgets. These gadgets are electronic devices that can be connected to the internet like smartwatches, smart wristbands, and fitness trackers.

With the wearable technology market expected to hit 1.1B in 2022, betting companies are catching up with most of them creating betting applications that can be downloaded to these wearables. Now, you don’t even need to pull out your mobile phone to place a bet.

1 Comment
  1. Chris says

    You are very right admin. Most of the sports betting done today are mostly online and mobile betting which is safer, faster and easier. Apart from the ill-side of being addicted to it because of the ease of use, most people get seriously addicted to it and end up becoming broke financially.

    Great blog!

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More