The sports betting industry has exploded in popularity in recent years, and all signs point toward it rapidly continuing its ascent. As of today, 22 states have legalized sports gambling in some form or fashion and we can expect more where that came from in the near future.
Even with more than half of the United States banning sports betting, the industry is growing at an exponential pace with help from innovative technological developments. Sports betting has grown far beyond simply wagering on a team to win or lose a game. The advanced technology used by sportsbooks nowadays has encouraged new trends in the industry that are turning sports betting into a mainstay in states where it is legalized.
Here’s how new technology in sports betting is changing the game, plus a few popular trends in the world of online sports gambling.
Sports Betting Technologies
Mobile Sportsbooks
Online sportsbooks are flocking to the mobile space and it’s no surprise they are seeing remarkable results. These days, it seems everyone owns a smartphone. That makes it crucial for sportsbooks to offer an immersive mobile experience — as a site and/or an application — for its users.
Rather than driving to a sportsbook, or jumping through hoops to place a bet through a bookmaker, users can have everything at their fingertips.
Cryptocurrency
As the sports betting industry continues to grow, so does the world of cryptocurrency. Blockchain and crypto offer an entirely new way to pay, and many online sportsbooks accept cryptocurrencies such as Bitcoin as an alternative to flat currency. Enabling users to pay with cryptocurrency allows bettors located in jurisdictions where online betting is illegal to make deposits.
Real-time Data
For sports bettors, it’s crucial to have the most up-to-date information available at the tap of a button. Online sportsbooks today use AI and machine learning algorithms to give users data relevant to the event they are wagering on, such as weather, players, injuries, and trends. These technologies also include predictive data to help bettors make a decision on which bets may be the most wise.
Sports Betting Trends
eSports
When you think about sports betting, games like baseball, basketball, football, and hockey likely are the first to come to mind. However, the future of sports betting may actually be in gaming. Yes, that’s right, video games.
It wouldn’t be surprising to see eSports become the No. 1 sport worldwide within a few years. Competitive gaming has exploded in popularity with help from streaming platforms like Twitch and YouTube. Rather than watching the NBA Playoffs or the World Series, many are choosing to watch a professional gamer show off their skills at Overwatch or Call of Duty.
This trend has led to online sportsbooks offering eSports odds as one of their most popular options, and it will only continue to grow.
Micro Betting
Tired of betting on the spread? Bored of the moneyline? Perhaps micro betting will be pique your interest.
With micro betting, sportsbooks offer a seemingly endless number of odds on events that happen during a game. For instance, you can bet on whether the Boston Red Sox will get a hit in the third inning. You can wager on whether LeBron James will hit his next shot. The options go on and on.
As real-time technology continues to evolve, micro betting will become more and more of a mainstay across all online sportsbooks.
Live Betting
Micro betting is a form of live betting, which includes options for those who want to place a bet during a game. Thanks to technological advancements in sports betting, many online sportsbooks offer an immersive experience for those who are looking for a way to get more involved in a game that is in progress. From moneyline bets to the spread and much, much more, bettors have a second-screen experience in the palm of their hands during almost every game on their TV.