Every industry is prone to change, the betting industry included. These changes are usually brought by technological advancements, highs, and lows of economies as well as consumer behaviors. Though some changes are short-lived and others last longer, the effects tend to change normal operations in the gambling and betting industry, with some increasing or decreasing bettor participation.
Despite all these changes, we can all agree that betting has been an excellent form of entertainment in the past decades. Whether done online or offline, betting has been a source of adventure and even income to many people in all corners of the world.
Today, we are going to highlight some of the key worldwide changes we have witnessed in the betting industry in 2020.
1. Migration to mobile betting
When smartphones first hit the market, every industry shifted its operations by making them available on these devices. The betting industry was and has never been left behind. As 2020 comes to an end, smartphones remain to be very popular with 44.87% of the world’s population owning one.
As a result, more and more betting firms are shifting their services online. And some companies have gone to the extent of giving bonuses and promotions for members that sign up on their mobile sites. Thanks to mobile betting, punters can now wager at any time or place, provided they have downloaded and installed the app on their phones.
2. Introduction of VR sports betting
When the concept of merging VR with sports betting was introduced a year ago, no one thought it would be possible. Well, fast forward to 2020, it’s now a reality. As a punter, you can today bet on fantasy sports and watch it live on VR.
Fantasy sports in football, baseball, golf, and hockey have risen drastically. Therefore, in occasions where no sports were being played such as during the pandemic, people can still wager on these VR sports. This introduction of VR sports betting can be accredited to technological advancements. And it has solidified the dominance of the online betting industry.
We have to hand it down to bookmarkers for their efforts in keeping punters entertained even when there are no real games being played. Going forward, VR sports betting appears to have a bright future in this industry.
3. Player tracking
With the invention and widespread use of fitness trackers. Gamblers can follow up on recent fitness statistics of their favorite players and know those who are or aren’t on form. Information related to the player’s physical strengths is very useful in helping gamblers weigh the possibility of their teams winning or losing. With player details in mind, accompanied by other useful betting tips from Smartbettingguide.com (the #1 punter’s guide site), you can be assured of getting lucrative wins.
4. Live betting
What was once a betting enthusiast’s dream has now turned real. Being able to wager during a live game sparks an unmeasurable amount of thrill and excitement amongst punters. Thanks to the availability of a wide range of streaming services, you can now bet on live games irrespective of your location or time-zone. On behalf of stakers, live betting increases their odds of earning more and betting firms getting a return on the investment.
5. Last-minute wagering
Due to advancements in technology, you can now wager on a game a second before it starts. This was impossible a few years ago, where you would have a set duration to wager before a game. And once it has started, you have no option but to wait. Now that betting has ventured online, last-minute wagering has become easier. Mobile devices can access betting sites fast, allowing you to stake as soon as possible.
6. Growth of e-sports
E-sports are just like regular sports only that they are played electronically. They offer entertainment as well as an opportunity for punters to compete and make significant wins. When e-sports were first introduced, they were solely for entertainment where players would compete with one another. As we ushered in 2020, a new trend emerged where stakers would wager on e-sports.
This new sport has interested a lot of bookies, with many offering lucrative odds on e-sports. The process of waging on e-sports is the same as regular sports. Gamblers have the freedom to choose games and players to wager on. And one perk of e-sports is that unlike real games, they can’t be postponed or delayed by real-life conditions.
So far, these are the significant changes that have been made in the betting industry in 2020. As a smart punter, it is imperative that you take note of all these changes as they will affect you in one way or another. Not to mention, you can utilize these changes to your advantage and make enormous winnings.