The world is advancing at such a high pace in terms of technology, and the casino and betting industry is no exception. Thanks to technology, casinos, and betting companies transformed their services digitally. Nowadays, people can register and play roulette or slots with real money without leaving their homes.
On top of that, online gambling has become safer for the average user. It is easier to determine a scam website and quickly spread the word to warn other people.
Additionally, with the introduction of Bitcoin and blockchain technology that casinos and sports betting companies use to bypass local jurisdictions where online gambling is restricted.
The online gambling industry has advanced a lot over the years, and in today’s article, we will go through some of the technological advancements that move the industry forward.
The number of people that use smartphones is rapidly growing and in 2020 there is an estimate of 3.5 billion smartphone owners. Some reports indicate that smartphones account for more than 80% of the internet traffic and this will continue to grow as smartphones become more capable.
Mobile trends impacted the casino and sports betting industry capturing a large portion of the market. Bettors now have access to their favorite casino through a smartphone app, where they can place live bets or play online slots from every part of the world. Some casino websites even offer mobile-only bonuses and promotions, which shows the importance of mobile users to gambling companies.
Nowadays, the crypto market is on the front page of every news blog. Many new cryptocurrencies are emerging thanks to blockchain technology and we still haven’t touched the surface of the blockchain capabilities.
When it comes to online gambling, a new way of betting is growing in popularity and that is crypto betting. Nowadays, many sportsbooks and online casinos allow betting with Bitcoin or Ethereum over the traditional fiat currencies.
It is worth mentioning that traditional banking institutions and payment gateways limit online gambling in terms of withdrawal, whereas cryptocurrencies are not governed by anybody and you can take them off the platform whenever you like.
Blockchain has a lot more to offer. With the introduction of NFT’s (non-fungible tokens) people can now own a piece of digital content. This can be a major game-changer for the gambling industry, especially when it comes to bonuses or rewards.
Back in the days, bank-grade encryption and special safety protocols for online transactions were only limited to financial institutions, but now that technology is available for the everyday user and makes the whole process much safer.
Online sports betting websites and casinos now have access to sophisticated systems where they keep all their bettors personal and financial details that is 100% safe and off-limits to hacker attacks.
On top of that online sportsbooks and casinos must use Secure Socket Layers (SSL) or Transport Layer Security (TLS) to protect the sensitive information they gather.
Technology now allows us to keep track of every sporting event and place live bets even at horse racing where the average race is over in three minutes or less. Some sophisticated systems and algorithms automatically calculate odds. This opens an entirely new market segment where bettors can enjoy live events and sportsbooks can calculate the chances of results and make a really odd for that wager.
Casinos also adopted live technology, where you can play blackjack or poker with a live on-camera dealer while sitting at home. The real-time betting technology revolutionized the industry and makes casinos and sports betting more available for users.
If you ask any professional sports bettor what’s the most important thing while betting on sports, you’ll most likely get the same answer and that is analyzing data. Back in the days, it was impossible to track data across multiple sports and previous matches, but nowadays with cloud technology and server advancements, online sports betting companies can track data that can be used for making better strategies.
Additionally, Sports bettors use AI and machine learnings algorithms to scour through all the relevant data they could find about a particular match, such as the weather, injury reports, sports betting stats, trends, and participating players. That’s why you can read more news about NBA stats and lists like the shortest and tallest players in the competition.
Such data helps them make an accurate prediction of the outcome and offer the right odds for the match.
All of this was done in the last 5-8 years, and we can only imagine where the online gambling industry would be in the next decade.