The world’s continuing to change, and so are the technologies. New solutions appear all the time, and this can be said about nearly any industry out there. Sports betting is one of them. Technological advancements can significantly change the playing field. Sometimes so much so that companies that fail to keep up go bankrupt or lose popularity.
Modern technology affects online betting in different ways. Mobile apps can be one such example.
There are many articles online covering the capabilities of modern betting apps. For example, this one: https://betguide.ng/how-to-get-the-bet365-app-in-nigeria/
While the text below will mention the advantages of mobile applications, it will also cover various other ways the technological progress has affected the landscape of online betting.
In this day and age, the majority of services and websites must have a mobile application. The industry of online betting and gambling is not an exception: wagering from the comfort of your mobile phone is quite useful. This attracts a wider audience and adds a level of flexibility: you can bet anytime, anywhere using a fully functional application optimized for your device.
Because of faster Internet speeds and the rise of streaming services, websites can now allow visitors to watch games and sports in real time. This is quite valuable for betting websites: they can now offer an immersive experience, additional functionality and make things more useful for those who like to wager during the course of the games. This can be used for both traditional and cybersports.
The popularity of live streaming services continues to grow. As 5G cellular networks and Wi-Fi 6 become more common, increasing the speed of Internet connection, these technologies will only advance further.
eSports are no longer considered a niche hobby or activity. They are popular, watched by millions (Dota 2’s largest event in 2022 had a peak viewership of 1.7 million, while the 2022 League of Legends World Championship was watched by 5.1 million viewers), and the players get huge paychecks. In turn, the wagerers have more options to bet on. The games are often live streamed and the odds might change significantly during the plays.
eSports can help betting platforms attract the audience that’s not usually interested in traditional games or casinos. Adding eSports can also help bookmakers provide more options for wagering, since some of the games, such as League of Legends, can have complex rules. This results in more specific bets. For example, you can try to predict which team or player will make the first kill during the game.
Virtual Reality (VR)
Virtual Reality is slowly changing the world of video games but has not affected the landscape of online betting as of yet. But many predict that VR will be actively used for online casinos, trying to replicate real surroundings. This will make online gambling much more fun and immersive.
Blockchain and Cryptocurrency
Blockchain-based technologies have affected many modern technological and financial industries. Cryptocurrencies, in particular, have had an outstanding impact and their future looks even brighter.
They can be used in online betting for withdrawals and deposits. They allow for quicker transactions, can help make the operations “borderless” and even deal with some regulatory caveats. They also don’t require the users to reveal their identities and deal with the bureaucracy associated with traditional banking services. Some cryptocurrencies also have low or zero transaction fees.