Technology has transformed many aspects of daily life since the turn of the century by making numerous processes far more efficient than was previously the case.
That is undoubtedly the case where sports betting is concerned, with the industry becoming a multi-billion-dollar behemoth in recent years.
Online gambling is now all the rage as punters have increasingly gravitated away from betting shops in favour of placing their wagers on the internet.
With that in mind, read on as we take a closer look at some of the key technology elements which have improved the sports betting industry.
Mobile Sports Betting
Advancements in smartphone technology and improved Wi-Fi connectivity have sparked a seismic shift in the way punters bet on their favourite sports.
For example, horse racing betting apps have made it much easier for people to bet on the Sport of Kings, opening the door for 24/7/365 wagering.
Australian punters can use mobile apps to wager on meetings in their own nation during the day, before focusing on action from other jurisdictions at other times.
With apps becoming increasingly sophisticated as the technology develops, mobile betting will become the primary way people wager over the next few years.
Live Streaming
Live streaming has become an integral part of the sports betting experience, with many operators offering coverage of thousands of events each year.
Horse racing, football, tennis, basketball and golf are among the sports which are streamed daily on sports betting sites.
By placing a qualifying wager, punters can watch the progress of their wagers in real-time rather than waiting for the result to be confirmed.
The availability of live streaming has significantly boosted the popularity of in-play betting, with punters now able to place bets on events as the action unfolds.
Digital Payment Methods
When online sports betting was in its infancy, operators were only able to offer a limited amount of ways for punters to make deposits and withdrawals.
Fast forward to today and digital technology has transformed the landscape, helping to facilitate safe and secure payments in just a few clicks.
While debit cards remain popular, options such as e-Wallets, open banking, mobile payments and cryptocurrencies have become far more prevalent in recent years.
With payment technology continuing to evolve at a rapid rate, punters are spoilt for choice when it comes to funding their betting activities.
Customer Support Options
Another element where technological innovations have had a significant impact on the sports betting sector is customer support.
Options such as telephone helplines and email still have their place, but leading operators have increasingly started to utilise live chat software.
This has allowed many of the top sports betting sites to offer 24/7 customer support, with chatbots used to answer common queries out of normal office hours.
Some betting sites go the extra mile by having staff available around the clock to answer live chat queries, thus taking their support offering to another level.
Artificial Intelligence
Artificial intelligence (AI) technologies are impacting many aspects of sports betting and will become increasingly influential over the next few years.
AI can be used to provide more personalised wagering experiences for punters by monitoring their patterns of behaviour on a sports betting site.
The technology is also capable of identifying suspicious betting patterns, this creating a fairer landscape for punters and operators alike.
With the ability to also calculate odds more efficiently, AI is also supporting greater accuracy of the prices offered on live betting portals.
