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In recent years, sports betting has exploded in popularity in the United States. Ever since the Supreme Court struck down the Professional and Amateur Sports Protection Act of 1992, every state has had the power to legalize sports betting as they see fit. To date, 36 states have some form of legal sports betting with more expected to follow in the coming years. What makes sports betting so popular is that extra layer of intrigue it can add to a game day. Many die-hard sports fans will watch NBA for example without a dog in the race, so placing a same game parlay can up the stakes and make it all the more an interesting watch.
Another reason it had gained such popularity is the rise of technology in sports betting. Gone are the days where you had to make the trip to a brick-and-mortar bookmaker, with most all giving way to online betting in the 21st century. It has never been easier to bet online for a variety of different sports, you can already check NFL week 1 odds, simply all you require is your smart phone and an internet connection to do so.
There are of course plenty of other innovations of technology which have aided sports betting. Let’s take a look at the moves that have been made in the industry which have helped to improve the overall experience.
Mobile Betting
Inarguably, mobile betting is the biggest step that the sports betting industry has taken in the last 20 or so years. Formerly, customers would have to visit their local high street bookmakers to place a bet. As these have grown in sparsity over the last decade, 21st century issues required 21st century solutions. Now, it is available at your fingertips. With 85% of Americans now owning a smartphone, sports betting has never been more accessible. Although currently not every state has legal online betting, this is likely to change as we are still in the relative infancy of its legality in the US.
Welcome and Bonus Offers
With online sportsbooks becoming more and more competitive, they almost blanketly will now offer customers offers to sign up or as a loyalty bonus. Mainly for new customers, examples of these offers are free bets, matched deposit offers and money back on losing bets. These would not be possible without the industry moving online.
Blockchain Technology and Crypto
The rise of cryptocurrency and the blockchain technology which powers it has crossed over into the sports betting industry in recent years. Many bettors are now opting to deposit and withdraw using cryptocurrency due to its speed, low cost and anonymity. In fact, we are now even seeing entire bitcoin casinos being established online where you can play your favorite casino and slots games without using fiat currency.
Live Data and Betting
Online betting has allowed completely new markets to open that were not previously available. When betting on football or NBA for example, typically you would have to place your bets before kick off or tip off with markets closing once the game had begun. A select few bookmakers would allow in-play betting, but they were hard to come by. Now, in-play betting is one of the most popular ways to bet on sports. Live markets are constantly being curated by statisticians who can log live stats quickly and accurately to offer customers lines to bet on whilst the games are being played. You could back player props, team props and all of the conventional markets too. This allows bettors to get a feel of the game before betting, potentially allowing for a more informed betting experience.
Safeguarding
One huge positive to have come from technology in betting is the increased levels of safeguarding in the industry. The legalization of sports betting alone means that the likelihood of illegal betting such as black market bookmakers takes a significant hit. Additionally, online sportsbooks now have anti-fraud safeguards to protect both themselves and the bettor. They can block suspicious activity on payment cards at the point of payment, preventing users who have perhaps been hacked or had their details stolen.
The future of sports betting looks very bright and we could still see the integration of new technology yet. The next logical step could be Augmented/Virtual reality. This could create an entirely new experience for sports betting, for example you could watch a game via a VR headset with live stats and markets right in front of you. Esports have also become incredibly popular to bet on as they have started to become appreciated as a sport.
The industry is constantly changing and with technology improving at such a frantic rate the possibilities are endless.