Remember when you had to wire a transfer to a sports betting site to wager on your favorite teams? Ah, how technology has made our lives convenient! You can now sign up on a site, deposit money into your account, choose an event, and wager on it. And if you win, you get to access your winnings almost immediately! Technology is a gift that keeps giving, and sports bettors cannot believe their luck.
Even those who bet on e-sports are riding this wave. E-sports betting additionally has skins betting which allows you to swap items for virtual currencies. You can use these currencies in the game or convert them into real money! So, whether you are betting on skins or backing your favorite CS: GO team, you stand a chance to make a lot of cash. We look at the main technology behind betting in 2022 and how it has influenced the betting world.
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Crypto Betting
We know – the crypto industry has suffered a massive hit in the past year. But as analysts have predicted, it will likely have a comeback as soon as the equity market recovers. People have long thought that the two markets existed independently, but recent events have weakened this theory. That said, crypto betting is still a top choice for many bettors. Why is that?
- Privacy: Many people who bet want to keep their identities and transactions private. And who can blame them? In the past, people would get locked out of loans and mortgages because they had a gambling history. But now, you can avoid having the bank look over your shoulder using a decentralized currency. You can easily convert it to fiat currencies as you wish and use it for other transactions outside gaming.
- The Cost-Effectiveness: Wire transfers and card payments often come encumbered with an array of additional costs. Moreover, they take a while to reflect in accounts. But crypto does not have this issue as most sites charge low or no charges. And you can get your winnings within seconds to minutes in most cases.
- The Jurisdictional Aspect: For a long time, people living in regions where gambling was illegal could not access online betting sites. After all, they could not process their winnings, nor could they deposit money into the said sites. But now, they can do this and more by using crypto.
Furthermore, crypto is an investment, and bettors willing to hold the digital currencies have often made profits in the long run. While the currencies have had all-time low values in 2022, more people are now willing to buy them, hoping to get a high ROI once the currencies stabilize.
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Virtual Reality
Online betting and gaming are highly convenient as they allow people to get in on the fun regardless of where they are. However, they have one main caveat – they do not have the social aspects present in offline settings. After all, you cannot compare these situations with being present at a live football match or watching your favorite e-sports players go head-to-head. Thus, people have often raised issues about the isolation surrounding such activities, and there seems to be a solution in 2022 – virtual reality!
But how does this solve the problem? Many people are familiar with virtual reality regarding fantasy games. But it can serve more than this role. Betting sites can arrange virtual sports events where bettors can watch the entire game. It helps bettors feel more involved and enables them to place more bets informatively. Moreover, this also works for the bookies because more punters are willing to put money on a game once they discover some opportunities.
Virtual reality and augmented reality are at the forefront of the incoming metaverse, which will see bettors experience sporting events at a much closer range. They will have the chance to virtually sit in a football stadium and watch live matches while betting on them. While we are years away from this reality, its makings are making headway on many sports betting sites.
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Live Betting
Besides virtual attendances, bettors now have the chance to keep up with sporting events as they take place. Bookies offer this opportunity in two keyways:
- Live Betting: Have you ever wanted to keep track of the stats of a game to know if your bet will win? Or if you should place another one to recover from your impending loss? Many sites now continuously update game stats as the events take place. It helps players understand the game’s status and makes it easier for them to place more wagers.
- Live Streaming: How about watching the game take place? That’s another key opportunity offered by most betting sites. That way, you can be on the commute or ordering coffee and keep up with what’s happening. If you see an opportunity, you can grab it by placing a bet on the game as it ensues.
These features are quite close to virtual reality and have gone a long way in making betting more interactive for punters.
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Mobile Gameplay
To top off the list, we include mobile gaming, which is currently on the up and up. It allows players to bet on the go, live stream games, and even access their winnings without a desktop. You can play via mobile using mobile-enhanced browsers or downloading a gaming app. Most sites now offer both options, which are easy to navigate and secure. This advancement has enabled more people to place wagers as more people have mobile phones than those who own desktops.
Moreover, more bookies have established social presences, capitalizing on the rise of social media marketing to reach their audience. Many of them are even using influencers to market their bonuses and rewards as they try to lure more clients. As we draw closer to the metaverse, these changes are but a fraction of the technological advances that punters can expect.