Technological advancements have played a critical role in making the betting industry what it is today. Initially, bettors had to visit a bookie’s physical location to place their bets. However, thanks to technology, you can now place bets from the comfort of your home. This has seen the popularity of sports betting sites and apps rise as more people join the sports betting fold. So, what are the technological advancements dominating the sports betting industry?
Mobile Betting
Studies have confirmed that mobile betting is among the most popular sports betting forms. Most bettors prefer the convenience that comes with mobile betting. If you don’t have a mobile betting app, consider a Betway download to get one of the best sports betting apps available in the industry. The app covers most of the popular sports and leagues around the world.
The availability of reasonably priced smartphones has also boosted mobile betting. More people can afford smartphones, and these smartphones allow them to access betting sites. Besides that, mobile money platforms make it easy for users to transact with mobile betting platforms, further boosting mobile betting’s popularity.
Cryptocurrency
Blockchain technology and cryptocurrency have also taken the sports betting industry by storm. Many bettors prefer using Cryptocurrencies in their betting because it is a quick, efficient and economical way to deposit and withdraw money from their sports betting player accounts.
Most top-rated online betting sports platforms allow bettors to wager using Cryptocurrencies. This also allows players in jurisdictions where gambling is prohibited to deposit using Cryptocurrencies.
This might not seem like a big revolution at the moment. However, remember that conventional financial institutions limit player deposits. Additionally, blockchain technology allows bookmakers to develop outstanding applications that improve the player experience.
ESports Betting
ESports’ popularity has grown in recent years. Recent reports suggest that bettors spend around 15 billion USD in eSports betting in the US alone. Additionally, the interest in gaming has also increased in the last few years.
Besides that, throughout the recent years, we saw that live sports events interrupted were a blessing in disguise for eSports. All these factors have contributed to the increased popularity of eSports betting. As a result, top sports betting sites like Betway have introduced an eSports betting section to tap into the rising demand.
Micro-Betting
Micro-betting is wagering on short-duration events that are effortless to follow. For example, most bettors would rather bet on whether King James will make his next 3PT shot rather than track the overall assists, rebounds, and points.
The ability to bet on smaller events in a sports game improves the overall user experience. Bettors don’t have to bet on a game’s outcome only; instead, they can wager on other things happening during the game.
Safe Payment Options
One of the biggest concerns for many online bettors is the safety of their cash while betting online. Fortunately, most top-rated online betting sites use the latest encryption technologies to encode their users’ financial information. This approach makes it nearly impossible for unauthorized persons to access user data.
Final Thoughts
Technology is a key component that has driven the development of the online sports betting industry. With more innovations coming in, bettors should expect more developments in the sector in the foreseeable future.
