What the Future Holds for Sports Betting
Since its introduction, sports betting has experienced massive developments. Innovation and technological advancements have been at the forefront of these developments. Some examples of these developments are the “cash-out during a game” and the in-play betting features.
From the look of things, there is no stopping the 155.49 billion dollars’ industry as these developments are expected to continue into the future. Most sports betting lovers just can’t wait to find out what the future of online sporting bets industry will look like.
Here are our estimations:
- More Countries Will Legalize Betting
In the US for instance, some liberal states have started legalizing betting, much like marijuana. This is because the initial fear of mass addiction has been greatly quelled by the discovery that market liberalization does not necessarily increase addiction. Legalization supporters stated that instead of making people gamble with unchecked betting companies, it was better to legalize and maintain a transparent system.
This legalization is expected to continue. More countries across the world will reconsider gambling, and massive legalization will kick in. Several top countries are on Legalization talks presently.
- The Internet and Need for Security and Carefulness
We’ve already seen how betting has drastically shifted from land-based to online. This is expected to increase in the future because of the flexibility and reach that it affords. Betting companies will make a more conscious effort to reach more audiences as fast the internet will be more available to people. Everything will be mostly online and there will be tendencies for hacking too as more sophisticated malware will be developed. Therefore, you will need online safety tips more than ever.
- The place of cryptocurrencies
Except you live in the caves, then you’ve heard about Bitcoins and other cryptocurrencies. Stakeholders are increasingly looking for ways of applying this new “financial freedom”. Most betting platforms already accept cryptocurrency deposits and withdrawals. This trend is expected to continue to the extent that it might just be all about cryptocurrencies.
There are even plans to develop cryptocurrency gambling platforms that will afford players more edge than what is obtainable now.
Bitcoin is expected to become the currency of choice because it will improve money management in betting. Gamblers can set out the amount they can risk in their bitcoin wallets. The transparency and zero fees associated with it will also endear it to players.
Betting firms are already being trendy by adopting cryptocurrencies.
Generally, we expect a more flexible betting system in the future.