5 Ways Technology Is Changing the Sports Betting Industry

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Gambling and betting have been a favorite activity of many people for decades, in some instances even centuries. Ever since sports appeared, people enjoyed backing up their claims and predictions with money and other valuables, showing just how sure they are in their favorite club or individual player.

Today, sports and betting go hand in hand as millions of sports fans try their luck in sports betting whenever there is an important competition or match. In the modern sports world, football is the dominant sport for placing bets, as well as the most diverse considering how many different leagues, cups, and tournaments there is every year.

Other major sports are also dominant, including basketball, American football, tennis, rugby, racing sports, and fighting sports. Horseracing has been a favorite for the rich and powerful for generations, as millions are on the line during the most important races.

With the rise and changes in technology, the sports betting industry has been changing as well, especially the online part of this lucrative market. Nowadays everyone has powerful gadgets on them at all times, which can be used in numerous ways to place bets on the individual’s favorite sporting events. In this article, we are going to explore how much technology has changed the sports betting world and in what ways. To find out more and perhaps even place some bets, make sure to visit SportingBet.

1. Online Betting

Like any other form of gambling, sports betting started decades ago when people had to walk to their local betting place and place their bets using pen and paper. There was a lot of human interaction and many chances for scamming and fraud. When the internet came around, most things were slowly finding their way onto the web, sports betting being one of them. This resulted in most sports betting nowadays being done online. All one has to do is register with an account on a betting web service, chose their preferred payment option, and place the bets. It is really easy, intuitive, and engaging. The user interfaces of these websites are appealing, and they often feature forums, sports news, information about teams and players, and much more. Online betting sites became real sports hubs where you can do a lot more than just gamble.

2. Mobile Betting

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Once mobile devices started becoming smart, which was when iOS and Android devices became common and widespread, mobile betting was the next big thing to hit the sports betting world. Combining everything that the internet has already brought years ago, mobile betting utilized specially designed applications developed and programmed by the same well-known companies that have brick and mortar establishments and regular online sports betting services. The main advantage of the mobile version is the fact you can do it from anywhere, as long as you have internet access. When everyone realized that the internet was going to become widely available almost anywhere, mobile betting, as well as everything else that these devices can do, skyrocketed. Now sports fans all over the world can place bets on their way to work, from their bed, or while waiting in line at the bank or the local supermarket.

3. Virtual Reality (VR)

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Moving on to the newer technologies, we have the famed virtual reality tech that is still largely being adapted and integrated into all sorts of video entertainment. From AAA video games to the movie industry, VR is the next big thing that will take how we view entertainment in general to a completely new level, once only believed to be science fiction. The sports world and sports betting are also affected of course, as companies wish to utilize the amazing VR gear and headsets for betting. Virtual sports tournaments can be organized where people can also bet on their own virtual sports skills and knowledge. With VR, possibilities are seemingly limitless as all it takes is imagination and creativity once the right kind of programming and development is in place. A brand new type of watching games can be introduced as well, as well as player point of view through body cameras. We will just have to be a little bit more patient and wait for this to happen.

4. Payment Options

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Of course, betting in any way, shape, or form requires a way to finance the fun. In addition, players need a quality way of withdrawing their earnings. Therefore, each modern sports betting solution, whether it is online, mobile, or even regular offers multiple ways of paying. The most dominant of course are credit and debit cards, but more and more people opt to finance their betting through online payment services like PayPal. Alternatively, the most modern way of doing things is through cryptocurrency. As the leader in this sector, Bitcoin is the most dominant digital currency players use to pay for their betting. More and more online services are actively incorporating digital currencies into their business since they realized all the benefits they bring to the table. If you still go to traditional, local places where you can bet on sports, cash is still the dominant payment option, however, and it will be for the foreseeable future.

5. Security

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Last but not least, with the advances in technology, all types of sports gambling are more protected and secure than ever. Properties utilize cameras, sensors, and password protection on doors. Employees are safe inside with different types of security and anti-theft technology keeping the money and property safe and sound. Online, encryption, two-step verification, passwords, security questions, and a lot more to thwart hackers and cybercriminals from accessing the users’ personal information and funds. Tokenization is another relatively new technology set in place for additional security. It works by replacing actual important data for tokens and stores it away safely. Therefore, if someone manages to access it, they will not get what they were looking for but a message that they need a unique key or an identification token that allows access. Most online and mobile services use several of these options for multiple levels of keeping everything under multiple layers of protection.