Online sports betting is now more popular than it has ever been. It is estimated that online sports betting contributes to as much as one-third of the total revenue of sports gambling. Some predictions show that in a matter of several years, this number is going to grow to one half of the total revenue.
What is causing this rapid growth? One aspect is definitely the new technology that is constantly being introduced and adapted to sports betting. It is becoming more and more convenient for punters worldwide to place bets online instead of at brick and mortar bookmakers.
Here are some of the most recent technological advancements in sports betting that you should be aware of.
Live Streaming and Live Betting for Sports Betting
Bookmakers are offering their customers the options to follow their favorite matches live on the platform. Instead of just looking at the statistics and the results, punters can watch their teams and stars in action and enjoy a complete experience. On top of that, this is a much safer way to make bets since you are getting a more complete stream of information than if you did not have a live feed. Live streaming is slowly becoming a standard in sports betting.
New Payment Options
New payment options are definitely one of the reasons why sports betting is becoming more and more popular. These payment options are bringing convenience to making deposits, but they are also improving safety. The new payment options, for example, include various e-wallets, bank wire transfers, as well as PayByPhone. This last option allows you to make a deposit and pay for it together with your phone bill.
Mobile Sports Betting
Online sports betting revolutionized the industry. However, mobile sports betting did the same even more so. Being able to make bets on the go, wherever you find yourself, is a huge advantage and a real game changer. Today, almost every serious bookmaker website has a dedicated mobile app that users can use. If that is not the case, at least they provide a mobile version of their website which is usually equally as functional.
These apps are available both for Android and iOS devices and have all the features that the browser version of a website has.
Blockchain and Sports Betting
One concern that many users have had with online sports betting and new technologies being introduced to the industry was safety. If the introduction of blockchain to sports betting becomes successful, the safety threat will become much smaller.
A new project called XWIN CryptoBet uses blockchain technology and gives users a private and virtual place to make bets. This platform will be linked to Ethereum which will guarantee income to investors, but also prevent bettors from being banned because of frequent wins and withdrawals.
Odds Predictions and Data Analysis
With the introduction and advancement of odds prediction and data analysis, sports betting is no longer just about guessing who will win and by how much. It is now very easy to keep track of the complete history of your favorite team and make bets accordingly. New algorithms collect data and help bettors calculate odds quickly and accurately. Because of that, you can now bet on all aspects of the game and many new opportunities have been brought to sports betting customers.