How Technology Will Impact The Future Of The Sports Betting Industry

With the legal obstacles around sports betting industry getting gradually removed in the United States as well as other countries of the world, online bookmakers are actively trying to find innovative ways to get ahead of their competition. The best of the sports betting companies out there will know how to make the best use of innovative technologies to enhance their market share in this lucrative global market.

Some of the biggest and most promising technologies that are going to have a positive impact on sports betting, particularly in Canada and North America include jurisdiction-free betting, virtual reality, and blockchain technology. While on one hand virtual reality will make it possible for people to place their wagers in ways never seen before, blockchain technology and jurisdiction-free betting are both expected to reduce the costs associated with betting and offer more security while placing bets on the Internet.

Despite not being directly related to technology, there are several other innovative means which can help you reduce your betting costs, particularly in the initial phase, for instance, availing free bets and shopping for the best sporting odds. The linked website features some of the best online bookmakers in the business today, for instance, Betway, Sports Interaction, PowerPlay, Spin Sports, etc. that can offer you both excellent odds and free bets.

Betting Via Virtual Reality

Virtual reality is a technology that is already being used by big sports leagues such as the NBA which allows you to get a better view of your favorite players from an entirely new perspective. For instance, with the help of VR, you can position yourself next to the rim and see LeBron James dunks from the free-throw line!

Sports betting companies will be using virtual reality to create various sports betting options for the punters, enabling them to make the best use of their sports knowledge. To give you an example, people interested in basketball betting will be able to use their headsets and controls, to mark out a specific area on the court and then wager money on the chances of a player scoring from that area. These are all micro bets which will gain a lot of prominence in the future, apart from prop bets focused on aspects such as speed, efficiency, breakdowns and more.

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Jurisdiction-Free Sports Betting

We can expect online bookmakers of the future to operate from platforms that will be free from any land-based laws. These platforms will be based out of international waters, and will be in regular contact with betting databases via satellite uplinks. As a result, these bookmakers will be able to run their operations without any jurisdiction, and therefore will enjoy various operational advantages. Many of them will also pass on a percentage of their savings to the sports bettors.

Cryptocurrency Betting

Blockchain is another major technology that will positively disrupt the sports betting industry of the future. In fact, betting and gambling operators are already enjoying many of its real advantages. Cryptocurrencies such as bitcoin will become the most preferred choice of bookmakers as well as punters. Sports books that will allow for withdrawals and deposits in various cryptocurrencies will make the most of blockchain technology and distinguish themselves as industry leaders.

If you are interested in even more technology-related articles and information from us here at Bit Rebels, then we have a lot to choose from.

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