Digital technology is changing the sports betting industry – Here’s how
Sports betting has been a practice that was started several generations ago. Unlike the modern standard of technology and the internet, the older generations were used to a different method of Sports betting industry – one involving cash and the use of paper.
However, since those days of early racehorse bets, sports betting has turned into a whole different ball game. With the introduction of smartphone technology, more and more people are able to access online sports betting centers from anywhere in the world.
Over the past year, we have seen an even more dramatic shift in the industry with the Coronavirus pandemic. The more people are forced to stay at home, the more they turn towards online forms of entertainment, and online sports betting has seen a massive rise in the number of users worldwide.
As we have seen over the past decade, the introduction of new technology can cause a massive change to any industry. For online sports betting, the use of online casinos, bookmakers, and sportsbooks shows how easily technology can be integrated into this industry with massive success.
Let’s look at some of the ways technology has changed the sports betting industry.
Enhanced online security
A few years back, making payments online was not as safe as it is now. Back then, it was only the major financial institutions such as banks that had the best safety protocols and encryptions. Now, however, almost all websites that take online payments have top-notch security available.
Many online sports betting websites will use these enhanced protection systems to ensure that all the users’ financial and personal information is kept safe when they use the website and when they make purchases.
Many betting businesses are going online
This is something that many people in the industry noticed a while back. Compared to the number of traditional brick-and-mortar betting shops being opened, there has been a rapid increase in the number of online betting sites.
With easy access to technology and how simple it is to create a website now, there is almost no barrier to entry for a lot of these betting sites. In fact, many websites even offer additional services such as a bonus bookmaker where you can win free bonuses for your next rounds.
The switch to mobile platforms
Mobile phone internet usage has increased rapidly over the recent years. Statistics show that there are over 4 billion mobile users around the world and these users make up about 54% of the global internet traffic. These are massive numbers that are projected to increase rapidly over the coming years as well.
Sportsbook these days are quick to jump on the mobile bandwagon with many of them developing comprehensive mobile apps. Any action you can do on a desktop or PC such as live better can similarly be done on a mobile phone. The greater number of mobile users has directly affected the online user base for sports betting services.
SEO is changing the online game
Due to the large number of betting websites popping up, Search Engine Optimization (SEO) is becoming more important. In order for their betting website to show up first for popular online sports betting-related keywords.
When any user searches on Google for a keyword, they will be met with multiple options of betting websites to choose from. The ones that attract a user’s attention, thus driving continuous traffic to the site will be the clear winner for that keyword.
In order to promote their betting site online, all the sports betting businesses will have to work on their SEO over the long term.
Live betting has taken the betting world by storm
The best part about online betting is the fact that you can place bets on sports that are happening live all around the world. If you go online these days, you will find sites with live betting markets for many different sports:
- Formula 1
Live betting is only possible because technology allows us to access information instantly through digital means. But it is not only that. Technology has also been used to create advanced algorithms that these sports betting sites use to calculate betting odds for sporting events.
This makes the betting game exciting for the punters out there who love fast-paced and interactive games. With the algorithms in place, users can place bets on games with it always being exciting due to the ever-changing odds.
Technology has already made deep indents into human lives and it shows no signs of stopping. As technology improves, over time, so will the online industries that are directly affected by its impact.
Our expert Evelyn Balyton has been following the topics of online sports betting and technological impacts in various industries. Having been in the industry for a long time, she has written many articles regarding these topics over the years.