Digital technology has transformed just about every aspect of life today. This transformation is even more evident in the gambling industry, which is heavily dependent on innovation. Betting platforms continuously use technology to improve their profit margins and customer experience.
Betting apps use multiple smart technologies, and we shall examine some of the most common shortly.
AI Technology
You’ve probably heard of the expression that the dealer always wins. AI technology is partially responsible for giving dealers a statistical advantage in sports betting. This rule also applies to sports betting.
As the better, you may be equally skilled in making accurate match predictions as the bookmaker. However, it’s the bookmaker who sets the betting rules which help them achieve profitability. Bookmakers use AI technology to set the odds and therefore control the payout.
However, gamblers like you can also use AI to increase their probability of winning. With AI, you can quickly analyse past matches and use probability statistics to predict future games.
Blockchain Technology
Blockchain technology is a relatively new technology for punters. Still, its impact on sports betting apps is undeniable. Indeed, the various advantages that this technology presents to punters and bookmakers make it a valuable tool.
For bookmakers, blockchain technology helps them ensure that all data on betting is delivered safely. The technology also allows them to ensure that they resolve all bets correctly and quickly. Bookmakers achieve these goals by using blockchain technology to prevent erroneous data inputs archaic and system delays.
Bookmakers also use blockchain technology to build gambler’s trust in their services. Blockchain technology provides punters and bookmakers with verifiable betting records and unchangeable transaction ledgers. In other words, gamblers view platforms using blockchain technology as more transparent and trustworthy.
Encryption Technology
There’s always the risk of data compromise in any online transaction. Gambling platforms use encryption technology to reduce this risk by securing their customers’ data. Casinos can then use their improved data protection measures as a marketing tool to attract more punters.
Virtual Reality
Virtual reality has greatly enhanced the gambling experience for gamblers. This smart technology enables gamblers to feel like they’re in the field yet sitting at home. The enhanced graphics that come with virtual reality keep punters more engaged in the game.
Increased engagement is a significant gain for bookmakers since they could translate it to increased profitability.
Tokenisation
Tokenisation enables gamblers to transact with bookmakers via a blockchain network. You can bet on sporting activities or purchase a jersey using a sports token.
Tokenisation also enhances the gambling experience by enabling you to feel close to your favourite sports personalities. Essentially, you’ll feel like you’re interacting with your favourite team, sports figures, and players.
Meanwhile, bookmakers benefit from tokenisation’s ability to lower transaction costs and improve transparency. They can also use it to provide unique content, thereby attaining a competitive advantage.
Smart technology has—in many ways—changed the sports betting industry. Betting apps are constantly seeking ways to improve user experience and attract more punters. Technology provides the platform on which bookmakers can continuously improve their services and products.
