How tech disrupts the sports betting industry
Technology is rapidly changing the way people live and it has also completely transformed the sports betting sector.
Sports betting has been present since ancient times. In Ancient Greece, people betted on the Olympic Games and in Ancient Rome, they did the same on Gladiator games. However, since smartphones first appeared a decade ago, the sports betting sector has further improved by a lot.
At the moment, one-third of all gambling occurs through mobile phones and it has been deemed that mobile will account for 50% of live betting by the end of 2020.
The First Digital Steps of the Betting Sector
Bingo and poker were the first two games that have been transferred to the online world due to the fact that it was easy to replicate them. Both of the games became available 24/7 and the stakes were low so the number of players rapidly increased. The web was growing.
When the internet became globally available, the sports betting sector started to emerge on the internet. The most important step was trust-building because people are always fearful of new things and they also crave for them at the same time.
But sports betting operators knew that people needed strong reassurance of security which is why they invested a lot in maintaining a secure environment and the number of players increased. Nowadays, blockchain is the new leader of security when it comes to online transactions and it has already found its place at some sports betting operators.
The Mobile Sector
The creation of the smartphone completely changed the entire world and with it, the sports betting industry too. With mobiles, the internet became available 24/7 and provided the convenience of betting from wherever you are whenever you want and all from your hand. Plus, with globalization, a person can bet on pretty much all sports events throughout the world. Since 2011, mobile betting has doubled each year.
Additionally, the number of mobile users is still growing throughout the world with most of it occurring in countries in development. For example, India, Kenya, and numerous other countries all represent large and viable markets for mobile sports betting industry.
Technology is rapidly changing the way people live and it has also completely transformed the sports betting sector. The next step is the further development of blockchain and cryptocurrencies in sports betting. It is exciting to be a part of this era.
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