The future of sports betting is rooted in intelligent technology. And even though we’ve known this to be true for some time now, the industry hasn’t yet quite managed to iron out all possible future kinks – if such a thing were even possible to start with. This is not to suggest in any way that technology applied to sports betting in exciting new ways is in any way bad either. Success or failure will depend on the industry’s ability to effectively manage technology within the context of present and future regulations.
The makings of a very good omen is how bookies, leagues and even large entertainment companies have navigated the waters of change ever since sports betting in the US was legalised by the country’s Supreme Court in 2018. Regulations have been largely adhered to by everybody involved and major leagues have progressed from previously having been opposed to the legalisation of betting on amateur and pro-sports, to they themselves setting up specially branded platforms geared at increasing profits gained from bets wagered at league-level.
All of the above have combined in some pretty amazing ways that have in turn resulted in an industry today worth billions of dollars per year. And since technology is an ever-evolving world of trade and innovation, its bound to play even more of a leading role going forward.
So Much Has Changed
In the past, bets wagered on sports could only be made physically in person and at a legal and registered retail gaming facility. Thanks to advances in technology as well as legislation, bets can now be wagered by accessing online platforms from a variety of mobile handheld devices. This has changed the game in numerous ways – most notably, the fact that an entire new audience has taken to betting on sports.
What’s more, not only are fans able to bet on the game itself, but thanks to a higher level of detail made possible in hi-tech data, they’re also now at liberty to wager money on a variety of other play-outcomes. Football is probably the best example of how a variety of new prop bets are proving a royal game-changer. NFL games, in particular, are a firm favourite when wagering prop bets. Part of the reason why is because Football’s natural pauses stimulate a world of interesting and exotic new bets.
About Those Wearables
Which brings us to the topic of wearables. Wearable tech is probably as real-time and in-game as what sports betting is going to get. Real-time performance data will in all likelihood pose its fair set of challenges yet as fans take advantage of the full yield of benefits offered by live performance indicators. But then again, so did betting on sports up until only a couple of years ago.
Regulations will continue to evolve, and so will technology. The future of technology in sports betting is exciting – and that’s true from any vantage point. And with anywhere between $150 billion and $400 billion at stake per year in the US alone, big money will continue to drive progress constantly forward.