Technologies that are shaping up the online sports betting industry of tomorrow

As United States and several other countries get on with the process of legalising online sports.

15:00 06 January 2020

the land based operators continue to look for new ways to find an edge over their online counterparts. In fact, many of them are either duplicating or completely moving their operations to the Internet.

Just like the first online gambling wave, land-based establishments are expected to leverage innovation in the upcoming decade to ensure that they don’t lose out any market share. On the other hand, the sportsbooks situated in popular gambling destinations, for instance, the Bellagio Sportsbook in Las Vegas (read a detailed Bellagio Sportsbook review here) will continue to enjoy good business irrespective of the online threats, primarily owing to their location advantage.

Getting back to online sportsbooks, let’s acquaint you with some prominent technologies that are going to shape-up the online sports betting industry of tomorrow.

Virtual reality

Major professional sports leagues such as the NBA are already using the VR technology, which enables viewers to watch basketball games from new and amazing perspectives. For instance, viewers can view the action from a camera placed next to the rim and watch basketball greats dunking from free throw line.

Bookmakers are in the process of using virtual reality for creating innovative betting options for bettors interested in leveraging their knowledge of the game. To give an example, basketball punters can mark a court area using their controls and headset, and thereafter place wagers on the possibility of a specific player scoring from that demarcated area. Such micro bets are expected to gain more prominence in the times to come. There will be increased focus on prop bets too that are based on very specific elements such as efficiency, speed and various aspects of the individual plays.

Betting without any jurisdiction

Regardless of the fact that sports betting laws are being made more flexible across various markets, bookmakers are still required to deal with local authorities and governments who find it very difficult to ease off their control on this industry. Going forward, we can expect reduction in restrictions on the bet types and betting limits. However, the biggest pro of jurisdiction-free betting will be better privacy for the players and the possibility of tax avoidance.

Rather than operating from servers and offices situated on solid land, the online sports books of the future will create a floating betting infrastructure, anchored away from the land-based loss. These sports books will operate from international waters, through constant satellite uplinks in order to stay connected with the betting databases.

Betting through cryptocurrencies

Another technology expected to gain a lot of prominence in the next decade is the block chain tech. A good number of sportsbooks already accept bitcoin deposits, and going forward they are expected to accept more number of cryptocurrencies. Just as in case of jurisdiction-free sports betting, the sports bettors’ privacy is maintained even in cryptocurrency betting, while also enabling the sports books to cut down their operational expenses. Online sportsbooks that have already been accepting Ethereum, Bitcoin and other types of digital money will be able to quickly adapt to the evolving block chain technology.