Digital technology has greatly impacted the operations of sports betting industry over the past one decade. Mobile gambling accounts for almost 1/3 of the entire money wagered across the globe today. In fact, the way things stand right now, over half of all the sports wagers will be placed digitally by the end of this year.
Sports betting has been amongst the few industries that have always been very forthcoming in use of digital technologies for broadening their horizons. It has witnessed tremendous year-on-year growth ever since its inception in 1996.
Today, even if you travel to a place like Las Vegas, the Mecca of gambling, you will find a good number of top quality Las Vegas online sports books, apart from the regular brick-and-mortar operations. The way sports betting can be accessed easily through mobile phones nowadays has helped it find its way into mainstream leisure activities. Let’s learn more about how digital technologies have impacted sports betting industry on the whole.
How things started
During the early days of online gambling, it was bingo and poker that went online first as both were already extremely popular and could be replicated easily on the internet. The online format made these games available to people 24/7, and they could play them either with real money (at low stakes) or nothing at all, bringing in lots of new players. Sports betting websites followed thereafter, however, their operations had to be limited owing to low processing power and slow connection speeds.
Improved broadband connectivity
With the evolution of technology and with broadband offering easy and reliable Internet connectivity, gambling industry started rolling out better casino style games for the players. As is the case with any industry, gaining clients’ trust was of paramount importance. Sports betting websites also started making an impact, with companies investing heavily into creation of secure portals, as their reputation and growth depended upon it. With the constantly growing awareness regarding security offered by all major sports betting platforms, more and more people signed up with these services. By 2005, online sports betting had emerged as a major global industry, registering over $ 100 billion in wages per year.
With the launch of iPhone during the late 2000’s, people could browse the Internet much better than before, and also use specific applications. They got innovative and novel ways of consuming content on the go. Sports betting industry rose up to the occasion yet again and launched mobile betting operations through dedicated apps as well as mobile friendly websites.
Mobile sports betting proved to be a big game changer. Punters were now able to place wagers on any sports event, in any part of the world, at any time of day/night. Whether it was betting on NBA games, or Super Bowl, mobile wagers were on everyone’s fingertips. The revenues rose accordingly and mobile sports betting rapidly became a force to reckon with, in this industry. Today, more mobile bets are placed on android devices than the ones running on iOS.
Innovations like in-game betting took the popularity of online sports betting to another level. People could now place wagers as the games unfolded in front of their eyes, inside the stadiums or in their living rooms in front of television screens.
On the whole, the ability to adapt and keep up with emerging trends has helped online sports betting industry to evolve into a multibillion-dollar industry today.