Since its inception, the gambling sector has generally evolved over the years. Mobile gambling, a product of technological gambling, now accounts for about one-third of all money staked worldwide.
Not long after the emergence of casinos in the early 90s, different sports betting platforms rose and have grown year-on-year. There has also been a closure of land-based casinos during this pandemic period. Casino online and sports betting have become even more popular because of this.
Now, it is easy to determine the effects technology has had in the casino scene. However, it’s not that easy in sports betting. So let’s look at which technological innovations will help the industry reach greater heights.
Virtual Reality (VR)
Virtual Reality has been in existence for some time, and video gaming has proven to be a fascinating example of VR’s application. So far, its impact in the betting industry is witnessed among those who love to gamble on fantasy games. For instance, with VR headsets, one can watch virtual sporting games live and bet on the outcomes.
Also, with VR, bookmakers can now organize more immersive virtual tournaments for players to partake in. These tournaments offer stunning graphics and more fascinating experiences than their counterparts.
The global mobile gambling industry is estimated to reach about $250 billion in 2020. Mobile technology has played an integral role in the fast growth and popularity of sports betting. One can witness the swift growth of sports betting, especially in Eastern Europe.
Anyone can now play different types of bets, from casual slots to in-play sports betting. And with the introduction of high-tech smartphones that offer solid internet connectivity and performance, the sports betting industry keeps seeing an upsurge in popularity.
Most sports betting companies now allow their customers to deposit and withdraw their balances securely through text. So, no need to visit the bank for top-up or the physical company to collect your payout.
According to DigitalMarketing.org, there are currently about 3.96 billion people who use social media. That is about half of the world’s population.
On average, an active internet user spends more than 2 hours on social media platforms daily. Also, these networks receive more than one million new users per day.
These statistics prove to show the potentially high growth of sports betting if incorporated with social media.
Due to the increasing number of people on social media, the sports betting industry has moved its marketing plan to digital platforms. Posting of offers and bonuses on social media can now help lure potential sports bettors to betting companies.
These digital advertisements, if well-tailored to the audience, can bring new customers to the industry. The success rate is often more than any contemporary form of advertising.
Land-based betting facilities often find it hard to attract new customers due to the opposition from mobile betting apps. These apps allow bettors to place bets from the comfort of their homes—i.e., anytime, anywhere.
There is also a social aspect to sports betting now, fostered by online chatrooms on the apps. Companies have therefore shifted most of their operations to betting apps so that gamblers can enjoy socializing while staking on their favorite sports teams.
With the introduction of sports betting to apps, one issue that arises is that of limited deposit methods. Perhaps the use of cards and online transactions is something most people fear due to the risk of overspending, identity theft, and fraud.
Founder Dinis Guarda
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