New Tendencies in Sports Betting You Have to Try Out
The sports betting industry has experienced significant growth in recent years, driven both by advancements in technology and changing attitudes towards gambling. Whether you are betting in the US, Australia, or here in the UK, there are thousands of betting options, including a huge variety of bookmaker sites, advice, guidance and sports betting news platforms, all geared to supporting and promoting sports betting.
At the same time, this rapid expansion of sports betting opportunities, which has been fuelled by technological changes associated with the internet, has led to challenges for the industry, both in terms of competition and regulatory pressure to ensure customer safety.
As a result, the modern sports betting sector is constantly evolving and changing. Here are some of the main new tendencies and trends that are shaping the sports betting world.
Betting through Mobile
The widespread adoption of smartphones and the rolling out of successive generations of mobile technology, of which 5G is the latest, has led to a consistent trend for more mobile betting.
The convenience of being able to place bets on the go and to bet, check your account or keep up with the latest sports news wherever you are has been a gamechanger for the sports betting industry. Mobile betting now accounts for the majority of sports betting revenue, and operators are investing in developing their mobile offerings to meet this growing demand.
Betting on Live Sport
Live betting, also known as in-play betting, allows customers to bet on sporting events as they are happening. This has become increasingly popular, as it provides a more dynamic and engaging betting experience. Operators are also using data and analytics to offer more accurate odds in real-time, further increasing the appeal of live betting, while improvements in live streaming quality means they can also offer bettors faster and more immersive in game footage.
The Rise of Esports
Esports or competitive video gaming, has grown in popularity in recent years, and with it, so has the market for esports betting, particularly on Dota 2, League of Legends and CS:GO.
This includes betting on the outcome of tournaments and individual matches, as well as markets such as first blood and total kills. Operators are recognising the potential of esports betting, with many now offering dedicated esports betting platforms.
Betting on a Virtual World
Virtual sports, such as virtual horse racing and virtual soccer, allow customers to bet on simulated events that take place in real-time. This has become an increasingly popular form of betting, particularly during periods where there are no live sporting events taking place.
Virtual sports offer a consistent and entertaining betting experience and operators can control the outcome, making it a profitable and attractive form of betting for them.
Cryptocurrency has become more widely accepted across a number of industries in recent years, and this has led to a growth in the number of sports betting operators accepting cryptocurrencies as a payment method. Cryptocurrency can offer faster and cheaper transactions, as well as greater anonymity for customers, and betting companies are being challenged to offer more crypto payment methods, particularly those bookmakers that focus on esports.
The regulatory landscape for sports betting is constantly changing, with many countries now legalising and regulating the industry. This has led to increased competition and better consumer protections, and new challenges for regulators across many nations, including the US.
Data and Analytics
Data and analytics are increasingly important in the sports betting industry, allowing operators to make informed decisions about odds and to better understand customer behaviour. Operators are investing heavily in data and analytics tools, such as machine learning and artificial intelligence, to gain a competitive advantage over their many rivals.
Sports Betting and Safety
With the global sports betting sector likely to be worth more than $200 billion per year by the middle of the decade, there has been a parallel rise in concerns about the risks of betting and about the way that gambling companies operate.
As a result, the sports betting industry is placing greater emphasis on responsible gambling, with many operators now offering tools and resources to help customers manage their gambling behaviour. This includes setting deposit limits, self-exclusion options, and access to counselling services, as betting companies work hard to ensure that their customers are safe and that the reputation of the industry is improved in the eyes of bettors and non-bettors alike.
Article written by Hal Emmerich