Impact of Technology on Live betting and the Sports Betting Industry

Technology is continuously evolving and has continued to shape our lives. Every industry in the world has been impacted by technology, including the sports betting sector. Live betting and other numerous unique features gamblers enjoy today are made possible by technology.

Technology has revolutionized the sports betting industry and changed how gamblers place bets. Many sportsbooks have leveraged modern technological advancements to improve the quality of their service and attract more customers.

Here are some features of sportsbooks that punters are in love with:

Easy Access To Data

Data is everything when it comes to gambling. When online betting started, most sportsbooks didn’t incorporate important data on their websites. Gamblers had to use external sources to access data. However, that has changed in recent times. Many sportsbooks now have sections where punters can see statistics about individuals or teams, results from previous meetings, squad lineup, and formation for a game. Punters can also see the current form of the individual or team.

Live betting

Live betting has become a prevalent option among gamblers, and it’s easy to see why. Unlike regular betting, where bets are placed before an activity commences, live betting gives gamblers the option to bet on games that are already in progress. The most apparent advantage of live betting is bettors can read games and make more accurate predictions.

If you decide to engage in live betting, you must know that the odds are not static. They constantly change as the game progresses. However, it usually takes a while before they’re updated, and if you’re quick enough, you can place a bet before the odds change.

Mobile Applications

Sports betting applications became imperative due to the growing number of smartphone users. They offer more convenience, speed, and better overall user experience than websites. Since every millisecond counts in live betting, using a sports betting application is always better.

Fast Payouts

Fast payouts can be a deal breaker when sports bettors choose a sportsbook. No one likes to wait days or weeks for their money. By adopting the right payment solutions, sportsbooks have solved this problem. The time taken to process withdrawals on most gambling sites today is typically less than five minutes.

Increased Deposit Options

Sportsbooks have continued diversifying how they accept customer payments to ensure inclusiveness. Bettors can make deposits using their debit or credit card and third-party services like PayPal. Some sites even accept cryptocurrencies like bitcoin, Ethereum, and usdt.

2-Factor Authentication

Fraud has become a major concern in the online space. Many times —usually due to lapses on their end, gamblers have gotten their accounts hacked. The hackers typically withdraw all the available funds in the hacked accounts.

To safeguard their customers, sportsbooks have adopted 2-FA technology. Before any withdrawal can be completed, a one-time password (OTP) is sent to the registered email address or mobile number linked to the account. The password must then be provided before the transaction can be processed.

Responsible Gambling

Gambling is a habit that can quickly spiral out of control if not kept in check. Many sportsbooks have rolled out responsible gambling features to help customers maintain a healthy gambling habit. For example, customers can limit the amount of money they can fund their accounts every week. Some sportsbooks even temporarily deactivate your account if you feel like taking a break. The temporary deactivation feature can also be used to freeze your account if you think it has been compromised.

Simulated/Virtual Games

Virtual games are the way to go if you like betting (whether live betting or not) in and out of season. With virtual games, the fun doesn’t have to stop. You can bet all year round and any time of the week —no need to wait for weekends. The best part is that games only take a few minutes to conclude. The results of the games are randomly generated, meaning there’s no room for any sort of cheating. You don’t need to be an expert analyst to engage in virtual sports betting. Just follow your gut feeling, and you might get lucky.

Improved Customer Support

No matter how good the odds are, a sportsbook will lose customers without a robust support system. Applications like Zendesk have made handling customer inquiries and complaints much easier for businesses and sportsbooks. In addition, most sportsbooks have an option where you can chat with bots on their website programmed with artificial intelligence to help with common problems customers face.

Final Words

The revenue generated by sportsbooks has witnessed a significant increase in recent years, and there is no doubt that technological advancement is responsible. Technology has allowed punters to access data easily, perform live betting, use mobile applications, easily deposit and withdraw, and enjoy virtual and increased security.
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