The Tech Transforming Sports Betting
The world of sports betting is a rapidly growing industry. Right now, experts are predicting that this business continue to grow, and that its worth will be over $60 million by the year 2026.
A huge driving force behind the industry’s incredible growth has been the technology driving it all forward. Since punters no longer need to visit a bookmaker in-person to make a wager, betting on sports has become even more convenient and fun.
Since the world of science and technology is an ever-expanding one, this means sports betting will continue to grow ever larger an industry still.
We take a look at just some of the technology behind the ongoing evolution of the sports betting world.
Artificial intelligence (AI) is typically all about a branch of computer science interested in building machines that ultimately become able to perform tasks typically requiring human input and involvement.
But within the sports betting sector, it has an incredible use because of the fact that it utilises data in accurate ways so as to predict the outcomes of matches or races. This comes obviously opens up a world of benefits not available in the gaming space until very recently.
Experts now agree that AI will likely re-shape gaming and sports betting as we know it.
The quality of a bookmaker’s betting app or website is what enables such a provider to create and develop all sorts of new ways for bettors to interact with their favourite sports.
Micro-betting, also known as in-play gambling, allows punters to bet money on an entire array of minute-by-minute events during a live game. This makes for an exciting experience, and so much more personal than just a single bet awaiting an outcome.
For bookies, however, this poses an enormous challenge. They suddenly have to keep track of oodles of small real-time bets and keep data updated all throughout a game or event. Without machine learning, or AI, this second-to-second action simply would not be possible.
While mobile betting has been around for quite some time, it only recently took up its dynamic place within the market.
With most bookmakers now offering mobile apps, easy access to up-to-date NFL picks and real-time action, and what with a growing number of punters now having access to mobile technology and affordable internet connectivity, the mobile betting technology is set to keep on transforming the entire industry.
VR & AR
Even though virtual reality and augmented reality are technically still in very early stages of development, visionaries are convinced that these technologies will eventually change the way punters interact with bookmakers and sports events.
The future of sports betting is all about putting on your VR headset and being able to enjoy a live sporting event from the comfort of just about anywhere.
No analysis about the relationship between tech and sports betting would be complete without mentioning the booming world of electronic sports, or eSports.
Simply put, technology and eSports go hand in hand.
Improved graphics greatly improves the Esports experience, as does faster-than-ever internet connectivity. This makes the experience for the punter a phenomenal one.