The sports betting industry is becoming increasingly popular globally. Studies have confirmed that technology has been at the forefront of promoting this growth. For example, digital technology has eliminated the need to go to a physical sportsbook facility to place your bets. Therefore, if you want to bet on the most prominent sports event, you simply log into a sports betting site or download the Betway app, and you are good to go. These developments have made sports betting more accessible, including bettors in remote villages worldwide.
So, how has digital technology disrupted the sports betting industry?
Mobile Sports Betting is Becoming Prevalent
Statistics confirm that over 3.5 billion people own smartphones around the world. Moreover, smartphones account for over 80% of internet traffic. Experts also suggest that this trend will continue in the foreseeable future.
The sports betting industry has been directly affected by this trend as many sports bettors demand mobile betting capability. As a result, online sports betting big wigs like Betway have moved with speed to address this need. Nowadays, bettors can wager on games from their mobile devices via sports betting apps and mobile-optimized sites.
Blockchain Technology
In the recent past, blockchain technology and Cryptocurrencies have slowly infiltrated the sports betting industry. Many gamblers love the idea of using Cryptocurrencies because they are fast, cost-effective, and efficient. As a result, top-rated sports betting platforms have started accepting crypto betting.
Moreover, individuals in regions where online gambling is prohibited can make deposits using Cryptocurrencies. This payment method also supports user anonymity which is an important feature for gamblers. People who do not want to make public their identity for various reasons can feel comfortable using cryptos. On the other hand, blockchain technology will also enable sports betting companies to develop more efficient online platforms that are secure.
Secure Payment Methods
Initially, online sportsbooks could not offer players secure payment options. However, thanks to technological advancements, that is in the past. Bank-grade encryption and sophisticated safety protocols are no longer reserved for financial institutions.
Online sports betting operators have access to some of the best security systems that enable them to keep their client details secure. For instance, they use Secure Sockets Layer (SSL) and Transport Layer Security (TLS) to secure sensitive information players share on their platforms.
Live Betting is Preferable
Previously, you could only bet on a sports event before it began. But, digital technology has made it possible for sportsbooks to offer live odds on sporting events. This capability has given birth to a completely new market segment where you can instantly bet on a live event.
Some sportsbooks have taken it a level higher by introducing virtual reality to optimize the users’ betting experience. Bettors can also bet on virtual events and games, eliminating the dependence on live sporting events.
What’s The Future of Sports Betting Like?
Digital technology will continue to have a significant influence on the sports betting industry in the future. Sports betting platforms like Betway will continue to harness the benefits of digital technology such as data analysis and betting on the go to remain competitive.
