The gambling industry today is considered to be one of the most popular and highly evolved businesses on the world-wide arena, especially the sports betting aspect of it. Besides the constant improvements of the provided product and successful customer-oriented policy, another factor that adds to the range of impact the gaming business has today is the tech innovations. It works well for both sides of the gambling process: on one hand, thanks to technological advancements, the sites for online betting can gather information, analyze it and use to guarantee the higher level of the users engagement on their platforms, and on the other hand, clients can gain access to those platforms from any place across the world. But is the smart technology enough to make the business successful? Lets find out while analyzing the factors below.
Better Payment Options
Perhaps, the most frequently asked question from the clients in the modern days is if their provided private information is safe. Its no secret that a lot of gambling businesses are digitized and that factor makes them vulnerable to cybercrimes. But with growing attention from hackers the security measures also advance and now a lot of high-league bookmakers use special cryptographic techniques to prevent data breaches and protect their users from being exposed.
Blockchain
The revelation of the last few years has undoubtedly become the blockchain and crypto betting. With the growing popularity of cryptocurrency many businesses, including sports betting, started to include digital currency as one of the payment methods available for the clients. The blockchain technology proved to be highly confidential and safe which makes it popular among the users. Another impact that blockchain network had on the is the invention of decentralized applications. It may not be a popular thing now, but with the growing impact of cryptocurrency it will be soon and some of the providers already began developing decentralized applications for their platforms.
Live Streaming
The experienced bettors that had been involved in gambling for a long time never imagined theyd have an opportunity to stream live games via betting websites, and yet it became a reality. This advancement turned out to be a whole new chapter for the bookmakers and considerably increased their income because live streaming a sport gives higher chances that the users will bet on live games. The popularity of broadcasting grows with every day, especially with such innovations as 4G and 5G networks.
Smartphone Apps
By far, most of the gambling providers are thanks to technological progress for one particular invention smartphones. Before cell phones became a thing, people had to visit the wagering establishments in order to place the bet and it wasnt particularly comfortable. Now almost every single smartphone has access to online gambling which resulted in the increased income for the bookmakers. Available mobile applications are considered to be the biggest technological advancement as they have better user interface, quick payments and withdrawals options and other new features that attract more clients every single day.
Virtual Reality
Another invention that made some good for sports betting websites is VR. A lot of new clients joined the gambling industry in order to experience the live sport games in virtual reality which resulted in expanding the offer for casino apps as well. The reality of this gaming experience is guaranteed by the qualified designers and best up-to-date tech.
Conclusion
Technical innovations in gambling play a huge part in betting companies success. The improvements for payment options, mobile applications and blockchain technology are proven to be one of the best technical advancements that help the gaming industry to be as popular as it is. The virtual reality and livestream technology are currently a bit less accepted by the betters but it wont be for long as the possibilities they provide are limitless and it will be duly noticed.
Disclaimer:
- As per the Public Gambling Act of 1867, all Indian states, except Goa, Daman and Sikkim, prohibit gambling
- Land-based casinos are legalized, with certain guidelines, in Goa and Daman, as per the Goa, Daman and Diu Public Gambling Act 1976
- Land-based casinos, Online gambling and E-gaming (games of chance) are legalized in Sikkim under the Sikkim Online Gaming (Regulation) Rules 2009
- Only some Indian states have legalized online/regular lotteries as per and subject to the conditions laid down by state laws. Kindly refer to the same here
- Horse racing and betting on horse racing, including online betting, is permitted only in a licensed premise in select states. Kindly refer to the 1996 Judgement by the Supreme Court Of India here and for more information
- This article does not endorse or express the views of Qrius and/or any of its staff.