The trends mainly point towards emerging technological solutions that have been adapted to online sports betting. What is this about? Well, these technologies have been simplifying and optimizing the different platforms to have fun during sporting events. We will discuss some of these trends below.
Microbetting will stomp this market
In addition to traditional betting, various platforms have begun to offer new experiences that give bettors more excitement in their bets. Thanks to the implementation of machine learning, sports betting is adopting a much more flexible model, which offers many betting options.
Very soon it will be common for people to bet on smaller things during the development of a sporting event. Thus, for example, users will be able to bet on possession of the ball during a certain time, if a batter will hit a double or a triple during his turn, how many triples a basketball player will score at one time.
The rise of eSports
Given the level of professionalization and competitiveness in electronic sports, it will become more and more normal to see titles like League of Legends, DOTA 2, Counter Strike on sports betting platforms. In effect, the formation of teams worldwide and the interest shown by more and more brands in the market such as Telefónica, Intel, AMD and Asus, among others, makes the sports betting sector fix its gaze on it.
Another fact worth mentioning is that esports events are followed by a large audience through services like Twitch and YouTube. It is also important to note that the prizes to be distributed are very attractive and many teams have economic sponsorships.
Live broadcasts are growing
With the advancement of fiber optic connections in the home and speed improvements in mobile networks, a boom in the transmission of live sporting events is expected. It is important to note that new connectivity technologies (fiber optics and 5G mobile network) allow speeds of over 100 Mbps both upload and download and low latency, which practically eliminates the problem of lag.
Another trend to highlight at this point is that many sports betting platforms could acquire exclusive broadcasting rights to a sporting event in order to increase their audience. Indeed, this has happened in the broadcast of some Premier League and NFL games.
The rise of NFTs and blockchain technology
Non-fungible tokens or NFTs will become more relevant in the world of sports betting in the coming years. These tokens could be offered as collectible files or player images, which will allow players to buy, sell or trade different items. It will also be possible to fund accounts using tokens.
These tokens would be secured in block chains (blockchain) so it will prevent them from being illegally duplicated. It is important to note that the use of tokens is currently very common in financial transactions.
Payment methods are expanded
Many sports betting platforms offer limited options to carry out transactions (especially in Latin America due to the lack of regulations in many countries) which is a problem especially for newer users. These payment options are limited to credit card and bank transfer.
However, the expectations for the coming years is that this situation will improve, since with the boom experienced by online transactions through digital wallets and cryptocurrencies, it is expected that many platforms will begin to include different means of payment. Thus, users will be able to carry out their transactions using their preferred methods: Payoneer, Paypal, cryptocurrencies, etc.
Mobile betting will grow
Many betting platforms have been adapting their systems for mobility, since many current bets are made from mobile devices. In fact, it is estimated that approximately 60% of bets globally are placed via a phone or tablet.
The trend indicates that this will continue to grow to the point that in the coming years, 85% of bets will be made from mobile devices.