The Future of Sports Betting

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Years back could one think of placing bets on athletic-oriented events? Getting dressed up, walking to the nearest casino, or betting house just to bet on your favourite sports was a bit sceptical then. However, today we can say things have changed pretty drastically. Presently, bets worth billions are being placed every year on such matches.

Sports Betting Earlier

While some think it is a game of pure chance, but many know and accepts that it requires a particular set of skills to analyse the odds and accordingly place the bets. Earlier one could hardly think of such gambling, but now sports betting is changing the look of gambling. Traditionally, it is a concoction of placing your hard-earned money on your favourite team and taking notes from the sport’s prominent analysts. One can win for a couple of times, using those techniques but one cannot depend on them all the time. Today’s age is different – we don’t support the old data. People have started to realise that the methods are unpredictable and one cannot make a fortune depending on them. We are breathing in an era of big data which dispenses a remarkable amount of information from multiple sources. These data help the punters or bettors to get a more in-depth insight of the game of all levels. However, just this flood of information is useless as long as you miss out on the understanding of the game and fail to analyse the algorithms working behind.

With the technological progression, it is being done online. So far, mostly on desktops but today’s young generation requires things at their fingertips. So here comes online sports betting on mobile for the young talented punters. According to a study carried out by the Pew Research Center, it is seen that almost 77% of Americans got a smartphone. Later on, another study revealed that around 25% of Americans are practically constantly available online. There are several online casinos like Rizk offering sports betting apart from casino gaming solutions. In case, you are wondering how the betting institution is, then check out Rizk Casino review page by real-gambling.com.

State of Sports Betting for the Upcoming Days

In the upcoming days, we can expect a lot of new things happening. Here, are what we will probably see:

  • Most of the sports betting will be done over the internet – no more going to the bookmaker’s office to place your bets. To be more specific, you can bet using your phone in real time on your favourite matches.
  • The prevailing punters are expected not to be human. They will probably be robots who will be analysing the massive amount of data available and bet accordingly on the human’s behalf. They would be more powerful and fast for sure.
  • There will be mega bookmakers driving the whole arena. You might see the big tech corporations being the mega bookmakers.
  • On 14th May 2018, the Supreme court has reversed the law related to online gambling that existed for more than 25 years. So long, sports betting was illegal, but the Supreme Court has shut down it – legalising the practice in 46 states of America.
  • Due to this, the proceeding of the sports leagues would directly come from the legalised betting.
  • Since the legalisation, the online sports gambling marketplace would rise to be the largest one in the world. Its founding will uplift the world’s entire game betting market.

NBA’s commissioner Adam Silver feels it would bring in significant business opportunities, better transparency and integrity. So far, it was illegal, yet it had an annual turnover of billions. Think about how the scenario would be post-legalisation.

Blockchain and Sports Betting

In the last one and a half year, Blockchain Technology has emerged out and has revolutionised the entire online gambling world. It has made some practical improvements to the existing online betting system. Looks like, it will soon boost the sports gambling shortly. However, it has one disrepute for its part in empowering some trending crypto-assets like Bitcoin, Ethereum and many fear that it could bring the same features to the sports field as well.

In Blockchain technology, all the transaction records are kept cleanly and perfectly. As a result of this, the betting site can figure out which person is gambling and what is their winning. Furthermore, crypto-gambling has certain benefits. Blockchain-based online betting houses that use cryptocurrencies for the payments can provide all the gambling services with little or no fees. All the crypto-transactions are processed almost instantly. The most important part is that the technology facilitates smart contracts which is beneficial for the winners as they get automatically paid by the end of the contest. The technology is expected to play a particular role appropriate for the rekindling sports betting upon its legalisation. Punters can compete against friends or be a part of a more significant competition while placing bets on their favourite sports teams and all the winnings will get automatically paid to the winners as the event concludes. 

What’s Coming Up Next

Gambling on athletic events is not a small topic. It seeks careful supervision, audacious directions for the online betting platforms that decides to clinch it. The chiefs of National Football League and Major League Baseball, however, articulated their serious concerns regarding the consequence of sports gambling on the honour of their game. Additionally, it is incredibly dependent on fast and consistent value transfer and in-house reliability of the platform. To make it successful, it will have to certain that no one can manipulate the system and the security is top-class. Moreover, the bettors who won should be paid duly.

Overall, sport-betting enthusiasts are going to expect a safer, and healthier environment in future and undoubtedly have a lot of fun.