The 2018 decision by the Supreme Court to allow states to establish their own sports betting market could lead to the market being as huge as $4 billion. Eventually, more and more U.S. states will continue legalizing betting through legislation. This means more and more opportunities to enter into this exponentially expanding market, with the odds of success exploding. This has created a brand new gold rush for new businesses to get into.
As the world moves towards the future and the stigma of gambling goes away, there is a certain excitement to see the developments and innovations that revolutionize the way the audience consumes sports, how sports betting works and the ways consumers experience sporting events. Additionally, cryptocurrency is also integrated into sports betting, especially Bitcoin. As a result, customers’ demand to use Bitcoin for placing wagers on NBA odds, NFL Odds and MLB odds is increasing.
With the integration of new and upcoming technology and media-related companies to retail partnerships, the majority of these brilliant changes are already well underway. While it’s next to impossible to discuss in detail all the exciting innovations taking place in this industry, examined below are some of the more important ones:
The Rise of Robots, AI, and Cryptocurrencies
Satoshi Nakamoto is the mysterious creator of Bitcoin. He wanted to revolutionize banking and create the first cryptocurrency in the world. His main goal was to abolish banks and allow people to send and receive money directly without intermediaries.
Cryptocurrencies reduce fees, speed up payment and facilitate global payments by eliminating banks. Some digital currencies can process up to 10,000 transactions per minute
Needless to say, the advances in technology will be the driving force behind the future of sports betting. However, there are already some exciting methods that can be utilized to take the current state of the industry to the next level.
The most significant technology is Artificial Intelligence (AI). Computer scientists believe that the bettors with the best abilities will not be human in the foreseeable future, but bots equipped with huge databases and algorithms to help decide their picks. Some of these specified applications are already on the market for consumers. The steps forward include these bots making use of data from various sources such as helmets, jerseys, microchips placed in hallways, stadium cameras, player cameras, and perhaps even biometric data unique to each athlete.
Cryptocurrency and virtual reality have also cemented their place in the sports betting landscape. At the same time, many popular NBA teams are currently using VR technology to enable customers to make micro wagers on individual shots during a match, with a first-person view. In addition, with the improved security that blockchain technology provides, cryptocurrency is widely expected to be the default mode of payment in the sports industry over the next few years. The combination of these factors will unleash a new era of widespread acceptance of Bitcoin and other cryptocurrencies on betting lines.
The Exciting Encounters
With the dreams of de-stigmatization becoming a reality in sports betting, the delight in the industry will explode to unforeseen levels. Brand new centers would open up, where fans could gather to enjoy the games.
These facilities would be equipped with all the leading technology and other features to provide fans with the best possible experience, such as fast food, music, and more. One of the most important technologies available, among others, would be a betting arena, says Ted Leonsis, an owner of no less than seven professional sports franchises.
He expects these facilities to have everything available to make the experience complete, immersive, thrilling, and innovative. In his mind, he sees the sportsbooks equipped with big-screen LEDs, food and drinks and betting windows for the fans.