Technological Advancements, and the Future of Sportbooks
The sportsbook industry as we know it has changed in all ramifications, thanks to the technological advancement that has greatly besieged that sector. Today, sports bets have gone beyond the OTP method to a more advanced, efficient sports betting; one can actually wager from any location and device. To prove the lucrative advantage of technology in the sportsbook industry, it has been estimated that the mobile sportsbook section was worth $100 billion in 2017.
This is just one of the many ways technology is transforming sports betting, building a future where everyone can easily participate no matter their location. In this article, we will be listing some of the technological advancements that have taken place in the sports booking industry and what it has for the future of the industry in general.
5 Technological Advancements in the Sports Industry
- Artificial Intelligence (AI)
Experts have always predicted that artificial intelligence is the future of mankind and that prediction has started manifesting in the sportsbook industry. Today, special AIs are designed to checkmate illegal transactions on any betting platform. It starts working from any bookmaker login section down to when you are logged out. It is a great way to dictate and block fraudulent bookmaker websites and keep every player’s personal data safe.
- Virtual Reality
The technology that propels visual reality has always undergone a series of developments. This is one of the reasons behind its augmented reality, a feature that video game companies have held in high esteem. The thing is, augmented visual reality is coming to the visual section of sports betting, with a clearer and more interactive video image for gamblers worldwide.
- Blockchain Technology
The integration of blockchain technology into the sports betting industry will allow players to stake their games without interference from any third party. This technology will encourage trustworthiness in the sportsbook industry by providing confidentiality and intense anonymity to each user.
- PWA Technology
- Crypto Wallet Technology
Although many online sportsbooks have started introducing payment methods like e-payment wallets, not all can afford to integrate the crypto wallets. Currently, more research has been thrown into this particular technology to come out with cheaper and easier ways smaller sportsbook companies can leverage from this.
Which of the Technologies is the Next Big Thing for the Betting Industry
There are more though, but the ones we have listed above are considered the most likely to be widespread in the future. But more emphasis should be paid to visual reality technology. This is because of the attention it is getting, as in, the type of individual investments that have gone into it.
Today, virtually all sectors want to cut a slice from this technology, e.g., advertising, video gaming, etc. And there are modalities in place to introduce a VR casino device, an event that has triggered the possibility of introducing a VR sports betting device. Since technology is transformational, one can hardly tell what’s next – but in all of this, one can easily tell that the future of sports betting and bookmaker, in general, is worth investing in.