Innovation in Sports Betting Industry
Sports betting has continuously grown over the years and at an exponential rate which has seen billions of different currencies be pumped into the industry. Of course, sports is perhaps one of the easiest things to place a wager on, although the developments in technology and the innovations to have been created over recent years will have certainly attracted many punters.
With such technological advances happening on what seems to be an annual basis, there are plenty of different options continuing to hit the markets for players to place bets on.
Some of these most recent innovations have included things such as the ever-popular in-play betting, cash out betting and the rise of mobile smartphone betting apps as each application appears to have the ability to do even more than ever before. For those that are interested, these are just some of the best apps with cash out available as an option.
With so many different innovations, it can get a little confusing at times, however once they have been understood, it will be difficult to understand how betting ever managed to get by without them.
In-play betting is arguably one of the best things to have ever happened to the sports betting industry. To say it revolutionised the industry would not be an overstatement, either.
The thrill that in-play betting can provide players is unrivalled at times as players will be able to make bets on what is happening in the action in real-time, therefore providing some intrigue and excitement to the event being watched.
With odds continually changing in front of the gambler’s eyes every second, there is a real buzz that is provided when betting in-play and it is incredible it took as long as it did to come to the market.
The rise of smartphones
Although not directly impacting the sports betting market, the introduction and continued development of smartphones has certainly had a huge impact on the industry and has taken it to astronomical levels many would not have expected the sector to have achieved.
With the technology available to build outstanding applications that can be used via a single click, the betting market certainly made the most of them as soon as possible. Smartphones have essentially become an extension of our bodies, which has only further helped the sports betting companies as they can now have players placing bets whenever they want.
The rise of Cryptocurrency has been steady, however it is something that has impacted the sports betting industry as well. Blockchain currencies all have the ability to provide transparency and a convenience that has become hugely favourable for online sportsbooks and bettors.
Gamblers can view their entire history with the blockchain method of their choice, which is certainly appealing for many that fancy a flutter with sports betting.
One of the latest big technological advances to have happened throughout the world is the introduction of augmented reality, otherwise known as virtual reality. The technology has been around a little while, and it has allowed people to experience a number of different events.
Sportsbooks will look at using this particular technology to provide a new user experience to those that place a bet on an event, as it will allow bettors to witness the action as if they are there and potentially get a feel about how things are turning out.