TMCnet Feature
August 11, 2021

The Technology Making Online Sportsbooks Worthwhile

Over the years, the betting industry has grown significantly. That's partly due to tech advancements that make it possible for bettors to make wagers online. For casino gaming and sports betting, this evolution has made the industries more accessible to their consumers. Gamblers no longer need to make time in their schedules to visit betting halls. A few minutes and access to the internet is all you need.

Software Providers

For an operator to claim they have the best online sportsbook, they need to have top-notch services available. Not every operator has the know-how to keep up with the demands of the sports betting industry.

That's where sportsbook developers come in. As a sports betting fan, you may have noticed that some platforms have the same odds for the same events. That's because they're using the same developers to create their services.

It takes a lot to keep an online sportsbook successful. The developers ensure timely payouts and that the odds are competitive for every event on the site's roster. They also manage how the site performs, especially during global game seasons when user traffic increases.

You can find unique and lucrative odds on sites with in-house sportsbook providers. That tends to happen with renowned online bookmakers.

Notable Tech Advancements

Have a look at some of the most significant changes fueling the progress of online sportsbooks.

Fast and Secure Payments

When making sports betting payments in the past, players needed to use cash at betting halls. Though convenient, you also had to risk walking around with quite a bit of money after a nice payout.

Online bookmakers then came about in the mid-90s, enabling people to bet using options like:

  • Checks
  • Credit cards
  • Wire transfers

These were limited options since they took several days to process transactions, primarily when requesting a payout. At present, several options get accepted on these sites. Most of these are capable of processing transactions instantly. They include:

  • Credit and debit cards
  • eWallets
  • Online banking
  • Cryptocurrencies

Through encryption and tokenization, betting fans can now make safer payments than they did in the past. The parties exchanging transaction details have unique codes and tokens that act as keys to help them access the funds.

Encryption is an added safety measure to ensure that even the communication between those parties is private, minimizing fraud.

Mobile Gaming

The ability to make bets whenever you need to has helped the sports betting industry grow exponentially. Through mobile betting, gamblers can access their preferred sites on their smartphones or tablets.

That removes the need to be at your computer to make wagers. To make the experience more convenient, most payment service providers now have mobile banking options. So funding accounts and receiving payments can all be done on the move.

Virtual Reality Events

Nowadays, visiting established online bookmakers will give you VR options for a unique betting experience. Similar to Fantasy Sports, VR games enable you to take part in tailormade sporting events. It's one of the most followed options for players looking for events that are easier to bet on.

That's because you don't need prior knowledge of the various teams' performances. Though based on actual sports events, that's where the similarity ends.

VR events also increase the number of events you can wager on. That's because they're a separate entity from real sporting events.

Live Event Streaming

If you can't be at the sports bar on time to watch your favorite games, then visit your preferred online sportsbook. Online bookmakers now stream live events for some of the games on their platforms.

Again, all you need for this is your smartphone or tablet and access to the internet. This option removes the need to pay more for TV subscriptions that give you access to these games.

Live Betting

Live streaming works in tandem with live betting. With this betting option, players can make wagers in real-time as an event continues. Why choose this over pre-match bets? It creates an immersive betting experience since you make bets based on how events play out during the match.

As a plus, most live betting events have better odds than pre-match bets. You can earn better payouts for correct predictions on the same markets as pre-match bets.

Through this option, you can also make several wagers for a single event.

Enhanced Customer Support

Sportsbook providers have trackers that take note of every client's activities on the site. From that data, they can have an idea of individual clients' online betting preferences. That enables established sportsbooks to have a more personalized relationship with their members.

Similar to targeted advertising, you'd now get information from the site regarding the events you like. For instance, let's say you've been a member at an online bookmaker for a year. If you've never made a tennis bet, you will not receive information on the latest enhanced tennis odds.

You'll instead receive details on the games you've been making bets on for the past year. That includes getting information on:

  • Bonuses
  • Boosted odds
  • Accumulator bets on select leagues and tournaments

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