Sportsbook Industry Trends: What to Expect in the Coming Year
The sportsbook industry is a fast-moving beast, and it’s hard to keep track of the latest trends. In this article, we’ll take a look at what you can expect from the coming year in terms of emerging technologies in betting. We’ll cover topics such as virtual reality (VR), augmented reality (AR), big data and analytics, live streaming, cryptocurrency integration, and artificial intelligence (AI).
Competitive landscape analysis in sports betting
Here’s a look at some of the key trends in the sports betting industry that we expect to see play out in 2019 and beyond, including:
- Increased Competition
- New Players Entering The Market
- Existing Players Expanding Their Offerings
- New Technologies Being Implemented
- New Betting Markets Being Created
Big data and analytics in sports betting
This is the year that big data and analytics are going to be really important in sports betting. We’re seeing a lot of sportsbooks moving toward using this technology, which has been available for a while but hasn’t been adopted by all players in the industry. Big data can help casinos improve their odds and also protect them against fraud and cheating. If a casino knows exactly who is placing bets, how much they bet, when they bet and so on, it gives them more information about how likely someone is to win or lose over time. That will give them a better chance at turning profits than if they just relied on historical averages for each sport or event type.*
Virtual reality and augmented reality in sports betting
VR and AR are expected to be used in sports betting to enhance the user experience. It is expected that virtual currency will be used as a medium of exchange for bets, with some casinos already accepting it as legal tender.
Live streaming and in-play betting trends
As always, the two biggest trends in sports betting are live streaming and in-play betting. Live streaming can be a great way to get a feel for how a book operates before making your first deposit. It’s also ideal if you like to bet on video games or other niche markets that aren’t available at brick-and-mortar casinos.
Another benefit of live streaming is its reduced lag time compared to traditional sportsbooks. Online gaming has gotten faster over time, so the days of having to wait five minutes for an update have long since passed.
In terms of demographics, younger customers tend to gravitate toward this kind of service because they find it easier than going into a physical store or dealing with phone calls from other bettors around them who may not know when their favourite team scores (or loses).
Cryptocurrency integration in sports betting
Cryptocurrency is a digital currency that uses cryptography to secure transactions and control the creation of new units. It’s decentralized, meaning there’s no central bank or government that controls it. The most popular cryptocurrency is bitcoin, which has been around since 2009.
Cryptocurrencies are used widely in online gambling because they offer anonymity to players and allow for quick withdrawals from their sportsbooks. The ability of cryptocurrencies like bitcoin to handle high transaction volumes makes them well suited for use by sportsbook operators who want an efficient payment method for users who can’t easily access traditional banking services or credit cards.
Artificial Intelligence in sports betting trends
Artificial Intelligence will become an increasingly important trend in the sports betting industry in 2019, with AI being used to predict the outcomes of sporting events and individual players. The use of AI has already been proven to be successful by online gambling operators such as Unibet and 32Red, who have both recently launched their own proprietary player-analytics software. These systems are able to provide detailed insights into a player’s statistics, allowing for more accurate predictions about how a player will perform in any given situation. For example, if you’re watching an NBA match between the Warriors and Bulls, AI could show that reigning MVP Michael Jordan is averaging 32 points per game this season (on average). You’d then see that statistic appear on your screen as soon as he touches the ball during playtime: “Michael Jordan: 32 pts avg.”
Advancements in Payment methods in sports betting
The sports betting industry is evolving, and you can expect to see more payment options in the coming year. Betting platforms are already adopting new methods for accepting deposits and withdrawals – including PayPal, credit cards and debit cards, ACH transfers and cryptocurrencies.
With so many ways to deposit money into your account now available online, it’s important to note what each method allows you access to:
- Credit Cards: These are one of the most popular methods among players because they’re easy to use and reliable. However, they do come with fees. Some of these fees include a processing fee that varies by provider; an annual membership fee (if applicable); and foreign transaction fees (if applicable).
- Debit Cards: If you don’t want any of those potential charges associated with using a credit card but still want quick access to your funds after making a bet or wager on one of our site’s top games like football or baseball then there’s another option – debit cards! Just like credit cards though there may be some limitations depending where in world live since not all financial institutions around globe offer this service yet so check with yours before signing up just incase something doesn’t work out well later down road…
The sportsbook industry is expected to bring several game-changing technologies to the forefront and evolve the overall user experience of punters.
The sportsbook industry is expected to bring several game-changing technologies to the forefront and evolve the overall user experience of punters.
At present, there are two projects that stand out in terms of innovation:
- Blockchain technology
- Augmented reality (AR)
Blockchain technology has captured the attention of many industries because it can be used for all kinds of purposes, including finance, healthcare and security. It is being adopted by sportsbooks who see its potential in reducing fraud and providing more transparency. AR will be another major trend in 2023 as users can use their smartphones or tablets to place bets on mobile devices using AR glasses or headsets—the impact this will have on daily fantasy sports (DFS) betting cannot be understated.
