What’s Next for Online Betting?

What’s Next for Online Betting?
The Siliconreview
01 July, 2022

The introduction of an online element completely revolutionized the entire gambling industry. Changes in legislation in the US have also seen a huge increase in sports betting in the country since 2018. But this is a sector of business that never stands still.

The best betting sites will continue to give their customer account holders a better experience by offering new ways of interacting and using their sites. The boom in US sports betting is only just beginning. But what does the future hold for what is already a multi-billion industry?

More Crypto Betting

There has been a lot of buzz about the use of cryptocurrencies recently. Not all of it has been positive, but there is no denying that more people feel comfortable using digital currencies as a method of payment now. Sportsbooks and online casinos have been keen to get in on the action – and that is only likely to increase.

There are obvious advantages to using blockchain technology and cryptocurrencies for transactions. The speed is very good for bettors looking to maximize profits while betting on live events. But the anonymity may become a problem for the betting firms that are beholden to regulations concerning customer account holders.

Improved Betting Apps

This may feel like a step down after talking about VR and AR. But it is more likely that we will see an increased uptake in the use of mobile betting apps. This is the way that most businesses are going and for many bettors, using an app is the only way they interact with the sportsbooks.

The convenience of mobile betting has been an absolute game-changer for online betting – but there is still room for improvement. Faster and more intuitive apps are now demanded by users and the betting firms will need to recognize that this area cannot be left to stagnate – because they will miss out on growing customers.

Virtual Reality Gambling

It seems like the idea of virtual reality (VR) has been around for decades now. It failed to really take off because of technological restrictions. But now Facebook – or Meta - has announced its Metaverse and the normalization of VR or AR (augmented reality) feels closer than ever before.

Betting firms have been quick to develop VR products. But it would seem more suited to an online casino than online sports betting. The cost of VR sets would discourage a complete overhaul of the way online casinos are run. But there would definitely be enough interested customers to make it worthwhile.


Innovative Betting Options

For the betting novice, it may seem as though the actual process of making your selections is pretty straightforward and difficult to adapt. But user experience experts are constantly looking for more betting options to enable their customers to enjoy their time on the app or site even more.

This innovation may simply be easier to understand betting types and options. Or it could be the use of wearables such as smartwatches. We have already seen great leaps from the limited betting options of the past. A new generation of customers will demand even more.

Technology Drives Everything

It is plain to see that the change in legislation for US betting has come at the perfect time for advances in technology. This is where we will see the biggest changes in online betting in the next few years. The US has played catch-up very quickly since the Supreme Court’s decision in 2018 – and now it is able to lead the way.

Although there has been some reticence from traditional bettors in some countries to the new technologies used by betting companies, the latest generations will expect the products to improve and change to make betting even easier. It will be down to the betting companies to capitalize on the latest trends and offer those services. This is definitely one business area to keep an eye on.