Over the last couple of decades, technology has gotten into each and every corner of our life, changing in ways we could not earlier imagine. With the rise of online betting, the tech realm has been expanding and influencing sports bettors, giving them new opportunities. This article’s goal is to discuss current tendencies the betting industry is experiencing today under the influence of technology.
The most obvious sector the tech left its mark on is online betting platforms. Successful bettors understand the importance of the right sportsbook, so check out DraftKings live betting features.
Security-oriented Technology
The first thing any solid bettor should keep in mind is security. Sports betting is an industry with large sums of money, involving a number of government regulations and respective policies. Technology heavily contributes to making those policies work thanks to its array of functions.
Biometrics is the most common form of ensuring security. Using a password, PIN, or hardware token together with biometric data such as fingerprints, facial recognition or even retina scans make up a two-factor authentication. This procedure is designed to reduce fraudulent activities and underage gambling.
Artificial Intelligence and Machine Learning technologies are also utilised to track fraud and cheating through building predictive models that will estimate fraud predictability (for instance, recognition of behavioural patterns and flag anomalist).
Last, but not the least in the list of security-focused tech, location software also adds to the basket. Bookmakers deem it important to know their customers’ location in order to stay within certain jurisdictional regulations.
Experience-focused Technology
To increase customer base, betting platforms strive to elevate customer experience for their own benefit. The thrill and excitement the betting industry has to offer are the stepping stones of any emotionally charged experience.
Back in the days, the thrilling part of betting started right at the kiosk – a place for placing a wager, watching a game, and enjoying the ambience of gambling. Nowadays, with a rapid development of online betting, mobile applications and betting sites are aimed at ensuring the same plethora of betting opportunities. Options such as live betting, or in-play betting with bonus rewards, promotions, personalised recommendations, and online community are all intended to emulate practices of olden times.
Thanks to Virtual and Augmented Reality technology, online bookies strive to take user experience to the next level. These technologies are expected to enable bettors to watch the match from 360 degrees angle with access to unique data.
Payment Technology
Any reputable sportsbook tries to make a complex payment system as easy as possible not to distract customers from betting itself. While you have a variety of options to pay (from credit cards to PayPal), the betting industry is getting closer to implementing real-time payment options that make the process almost invisible.
Cryptocurrency and blockchain technology are also beginning to contribute to the betting realm. With crypto, players will be able to make transactions overseas and stay anonymous at the same time. Besides, this technology is known for ensuring secure and transparent transactions between all parties.
Last Remarks
Technology is an integral part of sports betting, and it will keep revolutionising this industry making bettors find new strategies to achieve new horizons.