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The global sports betting and lottery market industry is already one of the world’s most thrilling and profitable businesses, with a valuation of over 235 billion dollars in 2022, according to Statista. With the emergence of new trends, such as mobile apps, virtual reality betting and the use of cryptocurrency to place bets, the future of gambling looks bright.
Since we already can see the involvement of AI in sports betting, let’s explore the next big sports betting trends and provide daily bettors with an overview of the endless possibilities they have at hand. Understanding these new trends is crucial to becoming a true master of the game.
The Current State of Online Sports Wagering
Gone are the days when we searched for the nearest bookmaker just to place a random wager without knowing anything about the sport or the teams or athletes involved.
In today’s digital era, sports betting finds its place in the free time of approximately 40% of adult Americans, translating to over 100 million people engaging in sports betting only in the USA. These numbers are fueled by the global smartphone usage growth, which saw percentages increase from 51.1% mobile internet usage in 2017 to 59.1% in 2022, indicating a significant shift towards mobile apps.
Another essential factor for the future of gambling is the regulatory changes and legalisation, which can vary from state to state but ultimately lead to the industry’s growth. Studies show that in states with newly legalised sports betting, 46% reported that legalisation has led them to register an increase in this matter.
In this context, platforms like BetBrain are ideal for bettors to enjoy the perks brought by the improved sports betting trends. Competitive odds, a lightning-fast live score system, and a cutting-edge accumulator generator powered by AI in sports betting are only a few measures punters use daily to get their pockets full.
Mobile Apps: The Future of Betting at Your Fingertips
The astronomical popularity of mobile usage plays a crucial role in developing the sports betting environment. According to Statista, there have been more than 6.4 billion mobile network subscriptions in 2022, and it’s expected to grow to over 7.7 billion by 2028. These tremendous values not only indicate the extensive use of smartphones around the globe but also highlight the growing potential for the future of gambling.
We previously learned that a significant percentage of adults engage in this activity, and we can see why. The ease of learning crucial statistics, having the finest odds and placing quick punts using betting apps nowadays is staggering. Countries like China, India, and the US, which have the largest number of mobile subscription networks, are the main markets in the sports betting industry.
Recognising this shift, more and more platforms, including BetBrain, have already begun capitalising on the current sports betting trends. This not only satisfies the current demand for convenience and accessibility but also anticipates future growth in mobile betting apps, as studies show that 72% of global smartphone owners are expected to access the web only using their mobile devices by 2025.
As the landscape of sports betting continues to evolve, mobile apps stand as a foundation for the industry’s evolution, with convenience and innovation being the most appreciated aspects by customers.
Technological Innovations: Transforming Sports Betting
However, mobile apps aren’t the only perk that bettors enjoy nowadays. Artificial intelligence has stormed into our lives in 2023, having over 100 million users within the first two months of its release. AI is one of the most used and appreciated technologies in the world, and it is used by over 80% of Fortune 500 companies for multiple purposes.
Naturally, the idea of AI in sports betting had to be implemented sooner or later. But how exactly do bettors profit from this?
The advantages of the new technology are endless: from providing all the relevant stats and information in seconds, finding the best odds on the market, to even creating punts based on your preferences. The journey of integrating AI in sports betting is not about learning new complicated formulas but simplifying the old successful ways.
But why limit yourself to simply betting and watching a sporting event from your TV or mobile phone? What if we told you that you could bet on an event and then take part in it from the comfort of your home? It’s called virtual reality betting and is one of the most exciting prospects for 2024.
Being an immersive technology, virtual reality betting has the potential to revolutionize the way sports betting is experienced completely, transforming spectator sports into interactive events.
The Rise of eSports
Many catalog eSports as being the “future sports” because they attract the attention of a new generation of bettors. But what exactly is an eSport? An eSport is an electronically played sport; long story short, it is a game. Titles like League of Legends and Counter-Strike are among the biggest eSports worldwide.
To give you a glimpse of the esports betting growth, a recent article highlighted that in 2020, more than 6.5 million bettors chose to place a wager on an eSport event (Eilers & Krejcik, 2020).
Now, can you win considerable winnings? The answer is definitely yes; not only do bettors enjoy watching their preferred game played by their favourites, but winning additional money is a plus.
Take Christian Rivera, for example, known as IWDominate on Twitter, is one of the most influential figures in the LoL community. He used his knowledge and science for the game to win some hefty thousands of dollars in seconds with a bet involving the winner of the next baron during the Vitality vs Fnatic game last week. This outrageous way of earning “easy” money generated a lot of fuss in the community.
Virtual sports and eSports represent a combination of technology, sports, and gaming, transforming traditional betting methods into new, more engaging sports betting trends.
Conclusion
With the appearance of these technologies, the future will likely be very bright for most online sports betting and gaming platforms. These are the kinds of innovations that change the user experience and bring engagement and access to levels not seen before. As bettors continue to adapt, more innovation could be very close on the horizon, which will truly transform the old traditional betting methods in our ever-increasing digital world.
