With the help of technology, the global marketplace has provided software developers within the betting industry an opportunity to take advantage of technological advancements and new audiences. So, like the March Madness schedule that improves a bettor’s decision on what to do with their next bet, the direction the industry is taking continues to improve betting experiences and propel sports betting to grow exponentially.
In recent years, e-sports betting is popular, especially in countries like Japan where bookmakers available in Japanese offer various betting opportunities. Today, bettors can watch their. Legalized sports betting is something that’s only become popular in recent years. However, it’s somewhat mindblowing to find that today, the industry has grown so rapidly across the globe that it’s expected to be worth roughly $218 billion.
Today, we see that developers are virtually limitless in how far they can go when it comes to inventions, and with inventions like up-to-the-minute stats and in-play betting, sports betting looks to have a bright future ahead of it. Let’s look at trends that are expected to be seen not long from now.
Expected Trends
Micro-Betting
Micro-betting is all about taking advantage of machine learning, which refers to placing bets on easy-to-follow and short-term events. For example, when you look at fantasy gamers and experienced bettors, they are most likely to enjoy following a player’s rebounds, total points, and assists. In contrast, other bettors would prefer wagering on whether a player will make his next three-point attempt.
Wagering on individual at-bat outcomes within MLB sports is expected to become popular in the near future. The format may require extensive modeling and might be easier to put together in a lottery or Free-to-Play model; however, the intuition is that the initial movers to make this move will attract a significant number of new customers.
E-sports
Esports isn’t necessarily a novel concept. The 1940s saw the very first release of video games, and the 1970s brought along competitions that were hosted to find the best players. It wasn’t until the 21st century that esports started becoming relatively popular, and in 2011, the industry saw the first platform dedicated to streaming esports launch. This was how esports betting came to be.
Today, bettors can watch their favorite esports players go head to head with each other and place their bets based on the success of their efforts while in their homes. As the games continue to grow, the tournaments become more important, increasing the prize pool.
Free-To-Play Games (F2P)
Free-to-play contests and games don’t require real money to enter and play. Most firms take the direction to operate under this model because getting a gaming license is time-consuming and expensive.
As a matter of fact, most jurisdictions in the US still don’t permit the use of mobile sports betting software; therefore, F2P seems like a more appealing alternative than having to relocate your services to Malta or London.
By going the F2P route, business owners can attract new customers and make a decision on how to monetize their Unique Selling Proposition effectively.
Peer-To-Peer
Whether it’s through internationally popular traditional betting exchanges or another method, peer-to-peer betting is definitely looking to be the wave of the future. The only thing is that the path from now to this point is still very much unclear.
For instance, The Wire Act, released in 1961, prohibits sending information or money across state borders if one is looking to place a bet. Even if online gambling is allowed in both jurisdictions, this act doesn’t allow customers in one state to place bets with a customer in another state.
While it may be an option to operate intrastate liquidity pools, it’s unclear whether the lack of client knowledge will remain a drawback in this regard.
Enjoyable And Sustainable Gaming
With more advanced markets like those in Australia and the United Kingdom, responsible gaming is a major focus and priority. This focus isn’t necessarily the same in areas like the United States, but it’s expected that it will be soon enough.
In the meantime, there are firms that are coming up with new solutions to market using predictive analytics and sports betting software.
