HOW SPORTS BETTING TRENDS ARE RESHAPING THE INDUSTRY?
SPORTS BETTING TRENDS
The betting industry has been part of the Sports industry for a long time. With the growing technology and sports industry, the betting industry is always evolving. Trends are temporary but necessary to survive in the betting industry at that time. It has become quite crucial for both bidders and bookkeepers to learn about the trends to maximize their benefits.
With growing technology, trends of sports betting are changing every day. Trends of 2018, will not work in 2022, because the approach of users towards betting has changed. In the past betting was all about the game of luck, but now it's more than luck. It is the combination of skills, data analytics, and expertise in using trends.
Over time bookmakers have also become smart and now using technology trends to keep all sorts of frauds at bay.
We have found the trends that are re-shaping the sports betting industry and making it more reliable. Moreover, the trends have made things more transparent and encouraged bid placers to take part in the sports industry.
Here are the trends that completely change the sports betting industry in 2022:
We have analyzed the recent trends in the sports betting industry and the way both users and fantasy sports platforms are involved. Check out the trends:
1. Live Streams
Live streaming has always been a major part of gambling and bidding. Nowadays, instead of going to pop-up-ridden websites, bid placers go-to bookmaker’s websites and check out numerous live events to place bids.
Moreover, in the past 2 years, online live streaming has increased the opportunity for bidders to trade their favorite sports, and players and predict the game results.
The Esports industry is growing with time. It is a market of millions in the finest world. In recent years, the eSports betting industry has grown a lot and it can be seen as one of the biggest industries in the world of betting.
Corona worked as a catalyst for esports. When the stadiums were empty and no ground activities were happening, sports fans were enjoying sports and betting from the comfort of their home.
AI and ML
Integration of Artificial Intelligence and Machine Learning in fantasy sports and betting odds is still in infancy. Bid placers can expect the advantages of AI and ML shortly. Right now, AI is providing real-time information to the bidders and making it easy for them to change decisions instantly based on the data availability. Artificial intelligence makes it easier for betters to evaluate the data richness and prediction of athletic events with maximum accuracy.
AI and ML will automate the whole gambling process, and continuously improve algorithms.
The biggest advantage of Crypto based betting is that it doesn’t require any third-party involvement, unlike the orthodox betting methods. Moreover, it reduced the commission and payout which used to be paid to third parties.
Crypto-based betting brings more transparency, makes money transfer quicker, and cheaper, and eases operations, providing all sorts of advantages of using crypto. Many sportsbooks/fantasy sports apps started accepting bitcoin in the form of payment.
Digital currency reduces the risk to the personal and bank details, which is required for the transfer. It also kills the requirement of the middleman and enhances the benefits for both bid placers and bookkeepers.
Big Data and analytics
Data rules the Sports industry. When it's sports betting, it becomes a more important part of the fantasy sports platforms. Whether it's about sportsbooks or betters, data behaves like the heart of the betting. Data and advanced data analytics techniques are helpful for better generating huge income.
Now, betters have become smart and use data to estimate their chances of winning the game. However, artificial intelligence can’t beat the odds, too regularly.
AI is a source of generating real-time information. Bettors can use real-time data of players to analyze the placed bets. Moreover, nowadays gamblers can tell a lot about the player's fitness and activity before he participated in the live game.
More data means accurate decision-making. The player's real-time information helps the betters place the bid as per the player's condition.