Sports betting has existed for hundreds of years in some form or another, but with the invention of the internet, and now smartphone technology, there has been a huge shift in the ways people bet on sports in recent years – a shift that has been accelerated by the current Coronavirus Pandemic.
“For some time now we have seen an increase in online betting rather than visiting the traditional brick and mortar shops. Even though this fact clearly has been accelerated by the current pandemic, it was a pattern we noticed before that,” said Paolo Strano in an interview with Sigma.
As this switch happens the sports betting industry is evolving at a rapid pace. This article explores the 5 key ways that digital technology is changing sports betting today.
- Bookmakers are Going Online
The first notable change within the betting industry has been the proliferation of betting websites, rather than more traditional betting shops.
In fact, in the UK, British bookmaker Willian Hill permanently closed 119 of its High Street betting agencies due to financial struggles related to Covid-19.
A month later, William Hill was sold to Caesars Entertainment in the US for $3.7 billion showing how huge the market for online sports betting is.
- SEO is Becoming Much More Important
As betting agencies go online the importance of keyword optimization, and more specifically, Search Engine Optimization (SEO), is increasing.
When people do an online search for betting websites, or for a particular sports betting site for that matter, they will find a mixture of betting comparison sites and online bookmakers.
The betting sites that win this online optimization war will be the ones that have the most customers and that dominate their markets. SEO then, is clearly vital for all online betting agencies today.
- Live Betting is Already the Next Big Thing
With digital technology comes the opportunity to bet on sport live. Nowadays, bookmakers around the world have live betting markets for every sport that you can imagine, from football and basketball to table tennis, darts and even Esports.
Betting companies use algorithms and teams of betting experts to calculate live odds for sports events so that punters can bet on a multitude of outcomes with ever-changing odds.
The most successful sports books are often the ones with the best live betting offerings because punters appreciate the fast-paced, interactive nature of live betting.
- The Demand for Quality Betting Apps is Growing
The internet was a huge step for the betting industry but the next big leap came when bookmakers made their sportsbooks available on mobile devices via mobile applications.
While the odds and fundamental offerings of each betting site didn’t change drastically with the addition of mobile betting, the way people accessed and placed bets did.
Nowadays, you can bet from anywhere in the world that you have an internet connection. Mobile betting apps are also often condensed and more intuitive versions of betting sites which makes the betting process simpler and easier for the user.
- EWallets and Digital Payment Methods can be Deal Breakers
The top betting companies have also connected their betting apps to digital and mobile payment methods like e-Wallets, Apple Pay and PayPal.
Digital payments aren’t accepted by all bookmakers but they are becoming an even bigger part of the betting experience as placing a bet becomes faster and more convenient.