Disclosure: Post and giveaway sponsored by XFINITY, but all opinions are my own. Please see below for additional disclosure. We are definitely a Comcast family. My family streams movies, watches on demand and loves...
How technology enables in-play betting to work
How technology enables in-play betting to work
These days anyone with access to a smartphone or desktop device and an internet connection can wager on their favourite sports. Technological advancements over the last few decades have helped to revolutionize the online gambling and betting industry, giving users much greater choice in sites, more betting options and improved security.
Online betting is a rapidly developing and high growth industry that emerged around the same time as online casinos in the 1990s, following the roll out of the World Wide Web. The first online betting site was Intertops in 1996, with a number of other operators joining the internet shortly after.
Over the years, the technology and software used by betting sites was developed further and by 2002 living betting was introduced to the market. Betting sports has become easier and more interesting than ever, especially when live betting enables users to place bets during sporting events for the first time.
This brought even more excitement and suspense to sports spectatorship for fans and helped the industry grow to the size that it is today.
The online gambling industry is now worth around £45 billion and is predicted to reach over £65 billion by 2023. Within the entire global gambling market, the sports betting segment now dominates the market due to the growing use of digital platforms and technological advancements.
What technological developments have enabled the growth of the online betting market?
The speedy and efficient calculation of betting odds has made in-play betting possible around the world, this has been made possible by sophisticated technology that analyses probabilities. There are a number of different types of odds, including fractional and decimal odd types as well as odds on and odds against.
The software that online betting sites use to calculate odds and manage the betting process has improved significantly in terms of capacity and reliability in recent years. A high percentage of online betting services users are using desktop computers and laptops to download and run gambling software, due to them having better displays and running smoother than smaller portable devices.
This indicates that the betting segment for desktop users is an important one and that this technology should not be side-lined as developers focus on smartphone app development and mobile sites.
Nevertheless, while computer betting software is popular amongst online betters, there are a growing number of users placing bets from their smartphones. This is a particularly popular option for spectators at live games, such as horse racing events and football matches.
Something that is having a major impact in the mobile betting sphere is the introduction of the 5G network. The first functional 5G networks were rolled out in the spring of 2019, EE was the first provider to offer 5G plans for mobile users, with brands including Samsung, Huawei and then Apple joining the market a short time later.
But what does the introduction of the 5G network mean for online betting?
The biggest impact of 5G on online betting is that capacity has improved and loading time has become significantly faster. This is great news of betting site users placing bets during live games, they rely on being able to quickly navigate through the site and place their wager at a moment’s notice.
Having access to technology that allows fast and reliable in-play betting is extremely important for users who bet to add more thrill to the games that they enjoy watching live.
Artificial intelligence or AI is also having a big impact on online betting. This tool is still being developed, but is already used widely in managing player’s accounts, as well as the betting site acquisition and retention processes.
This artificial intelligence technology is used to analyse when the best time is to advertise which bet, in order to maximize the amount of bets made. There is also the possibility of AI being used to offer personalised bets to enhance an individual’s in-play experience in the future.
Technology is shaping the future of the online betting industry…
In the near future the proliferation of sports betting advertisements across all digital platforms will propel growth, with smart targeting tools being used to increase engagement rates and streamline the customer journey. Targeted advertising is already being used to reach the most relevant audiences, but as the adoption rates of third-party ad servers and online agencies increases amongst online betting operators, betting advertisement will become much more visible and engaging in the media.
We can also anticipate that in-play betting via smartphones will increase in the years to come as accessibility and use of mobile tech continues to grow, particularly in regions such as Asia Pacific.
On the whole, the technology used by both betting operators to deliver their services and the devices used by audiences to access them have come a long way in recent years. As a result, more and more people have been able to enjoy betting on live games.