5 Ways Technology Has Transformed The Betting Industry | Unthinkable
Betting is one pastime that has hooked people for centuries. Though the fundamentals of betting remain the same over the years, the hobby has advanced significantly, thanks to digitalization.
According to market predictions, the online betting market will be worth $127.3 billion by 2027 . The growth rate is significant considering that the current market size is . For the growing number, we should thank betting app development companies that have made the platform so much easier, fun, and exciting to use by implementing the latest technologies. Let’s look at 5 ways how technology has changed the betting industry.
Gone are the days when you need to go to an actual casino and try your luck at the slots to make some easy money. Today, you can find casinos at the click of a button. It started when casino operators provided their game software to the public. Users just had to download the software in their computers and enjoy betting at the comfort of their homes.
As we are in the age of smartphones, mobile casino applications have become immensely popular. You can download the game on your phone and play it anywhere — at home, in a café, or even during your lunch break at work! As we have many sports fanatics across the globe, sports betting app development has also contributed to the online betting industry.
Augmented reality (AR) and Virtual Reality (VR) technologies have taken the video game industry by storm. app development companies have also used these amazing technologies to create a casino-like ambience for their users.
While VR powered betting apps comes with exceptional features such as 3D poker tables, realistic slot machines, and background sound effects from real casinos, AR betting apps offer sensory inputs to enhance your betting experience.
When bettors use applications powered by such advanced technologies, they can experience a real casino, without even really moving from their couches! However, you are required to purchase AR/VR headsets, software, and other accessories to enjoy a seamless experience.
If you’ve been to a real casino, you’ll know how hard it is to find customer support. Artificial Intelligence (AI) has revolutionized almost every industry and has positively impacted the betting industry too. AI-powered chatbots are created to assist users throughout their time on the app. They can count on these virtual agents for all types of queries, especially payment-related concerns.
Sports betting app development companies have also been implementing AI to empower their users. With the help of AI technologies, player statistical data can be collated to create algorithms and models to predict the possible outcome of any match. This enhances the betting experience for sports bettors and helps them place odds accordingly.
One of the issues faced in real casinos is handling cash. Yes, you will be given chips to play instead of carrying cash around, but there are a lot of cases of fraud when cash is exchanged. As you get to carry out cashless transactions in licensed online casinos, you can be assured that you won’t be scammed, or your money won’t be laundered.
Cashless transactions are indeed safer, convenient, and quicker. There are many payment gateways to make cashless payments such as payments via credit/debit cards, third party payment services, and cryptocurrencies. With the pandemic underway, cashless payments are becoming a thing in real casinos as well.
Years ago, people had to go all the way to betting hotspots like Las Vegas and London to try their hands at roulette or slots. You don’t have to do that anymore! You just need a good internet connection to access betting and sports betting applications on your smartphones.
Additionally, you get to network with other bettors and gamblers across the globe. There are many apps with online forums to discuss live matches. Some apps even allow you to play alongside people you know.
The betting industry is flourishing, however, as customers, you need to be careful which mobile casino to choose. Always choose a betting app that is licensed and regulated by reputable authorities. Check reviews and recommendations before downloading any app. Choose a platform that offers secured payment options so that you can deposit and withdraw money safely. Those offering welcome bonuses and loyalty programs are a plus! Also, don’t forget to read the terms and conditions before signing up.
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Originally published at https://www.unthinkable.co on January 13, 2021.