Gaming

How technology has revolutionized the betting industry

It’s fair to say that technology has had a major impact on pretty much every aspect of our lives. From entertainment to how we communicate, practically all of our tasks can now be carried out in the digital space. But there is one industry that has reaped the rewards of technological advances like no other. Yes, we’re talking about the betting industry and how the entire sector has been revolutionized by tech with many platforms and even some of them offer free bets to new customers. So you could say we’re really spoiled for choice.

Betting goes digital – the early years

One of the biggest advantages for customers nowadays is the fact that the playing field has been levelled. Sports fans who want to place wagers online are no longer limited to one or two platforms; there’s now a plethora of options out there.

But this wasn’t always the case. Back in the mid-to-late 90s, access to the internet was only possible through a home computer. This was great for those who could afford a PC and dial-up internet, but not so great for those who couldn’t. The early online betting platforms had a limited market and as a result failed to really pick up pace.

Mobile internet opens the floodgates

Internet access for anyone with smart device was the real gamechanger. It completely changed the industry and kickstarted a boom that continues to this day. By 2012, mobile gaming rose by 75% on the previous year. From 2013 to 2015, it rose by another 84%. Interesting figures but they pale in comparison to the next stat. By 2017, 164 million people used mobile devices to visit online casinos. That’s a staggering statistic made possible by the dawn of the smart device.

Bookmakers were extremely quick to realize the potential for growth within the mobile gaming market. Online providers were among the first to embrace mobile apps and offer their customers the ability to bet on sports or play casino games no matter where they were. This presented a huge opportunity to wrestle a lion’s share of the market from the high-street shops. And they did so with aplomb.

What the future holds

The online gaming market is predicted to hit an astounding $87.74 billion dollar by 2024. While much of this growth is down to the convenience factor of global internet access, there are other technological advances that have also had a positive impact.

The introduction of artificial intelligence into the industry has been a relatively quiet one. Bookmakers are now using AI and machine learning to analyze data in order to determine more accurate odds for sporting events. Providers can also make use of this technology to present easy-to-digest data to their customers which enhances their overall gaming experience.

Interestingly, we’re not even close to being done with technology in betting. Could the industry make use of mixed reality in the future? Could algorithms remove the luck element from certain casino games to make a player’s skills more important than ever? Who knows, but one thing we’re sure of is that when it comes to embracing technology, the betting industry are at the front of the queue.

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