The Tech Behind Sports Betting

6 min read

Sports betting has changed rapidly in the last three decades. There was a time you had to leave your house to bet on football. Now you don’t even need to leave your bed to place a bet.

What’s more, you’re not limited to sports in your local city. You can bet on hundreds of sports from around the world. If you’re ambitious, you can also wager on games while they’re live.

What’s the secret behind the advancement of sports betting? These tech innovations:

Mobile Sports Betting

Mobile betting is one of the best things to have happened to sports betting. More than 60% of all sports gamblers bet through their smartphones. In some countries, the number ranges between 80% and 90%.

Why is mobile betting so popular? Smartphones are generally cheap. That means more people have smartphones compared to desktop computers. Additionally, most people use their iPhones for all their Internet needs, including betting.

Another reason mobile betting is widely popular is that it works. Whether you want to deposit money, compare odds or place a parlay bet, you can rely on a good sports betting app.

To be clear, you can also bet through a mobile-friendly website. There are plenty of options, these days. But stick to the best betting sites. Look for features like games covered, bonuses, and reviews to choose a reliable sportsbook.

In-Play Betting

In-play betting allows you to wager on a sports match after it has started. It adds excitement to betting because you must make decisions quickly. And if you’re correct, you can make more money compared to traditional betting.

For clarity, in-play betting is a risky way to gamble on sports. Bookies change odds constantly depending on what’s happening on the field. If the underdog scores, its odds to win a match increases. If the favorite side takes a lead, the odds change.

In light of that information, the best way to bet on live matches is to watch them. Pick an important match. Find a platform to watch the game and then log into your sportsbook account. Bet based on what’s happening.

With that said, engage in live betting only when you want to bet on your favorite sport. Let’s say you primarily watch football—the English Premier League to be more specific.

Big Data

The saying, the house always wins is correct. Sports betting companies rarely lose money. This is all thanks to big data. They collect massive volumes of information about teams, players and leagues. They then use sophisticated software to create realistic odds.

In other words, sportsbooks use data to consider all angles before providing betting odds. They consider the hype—whom do bettors think will win? But more importantly, they also look at the facts, match statistics, injury reports and H2H data.

Of course, this doesn’t mean you have no chance at beating the house in sports betting. You do. Billy Walters rose from a struggling car sales man to a multi-millionaire earning $50 million a month at one point in his life.

A few more people have made millions of dollars betting on sports over the years. That includes celebrities like Drake, Floyd Mayweather and rapper 50 Cent.

Live Streaming

The modern sports betting app delivers more than betting odds. It also features a way to stream popular sports games. All you need is to be an active customer. The best sportsbooks stream popular football, hockey, baseball and horse racing matches.

Some of them also provides sports news like injuries, lineups, live scores and rematch analyses. In other words, today’s sportsbooks are packed with features aimed at turning you into a loyal customer.

To be clear, betting apps won’t replace sports media companies any time soon. However, they can help you stream a crucial game if you have no other way to watch it than to use your betting app.

AI Automation

Artificial Intelligence has been making headlines for the better part of this year. It’s is disrupting almost every industry, from search engines like Google to manufacturing.

In the sports betting world, AI is changing how people bet on sports. Smart algorithms can analyze large volumes of data to make accurate sports predictions. AI isn’t always 100% right. But even with a 70% or 80% accuracy, it can help you become a rich sports gambler.

With that said, sports betting sites are also using AI for different reasons. They use it to automate certain tasks like marketing and analyzing data. In turn, they can save millions of dollars per year and increase their accuracy in making odds.

In the future, AI could change sports betting as we know it. Imagine if algorithms start to predict games with a much higher accuracy. Some bookmakers will have to close their operators. Alternatively, bookies will provide harsher odds to reduce gamblers’ profitability.

Digital Banking

This may come as a surprise to some, but betting sites used to accept physical checks for payments during the 1990s. Obviously, this was an inconvenient way to deposit and withdraw money. It also attracted lots of scams.

Over time, the betting industry has adopted many payment methods. First, they supported wire transfer and credit/debit cards. But not every bank wanted to process money to gambling sites.

Fortunately, digital companies like Skrill and Neteller came to the rescue of bettors. Both of these e-wallets were created to process payments for online gamblers. Skrill and Neteller are still popular payment methods at online sportsbooks.

But they receive stiff competition from PayPal, Google Pay, EcoPayz and other region-specific e-wallets. Lately, crypto has penetrated the online sports betting market. You’ve probably already noticed it—dozens of sportsbooks accept bitcoin, Ethereum, Litecoin, and USDT for payments.

Each payment method has its benefits and disadvantages. As such, think carefully before you decide how to deposit your money. If you want speed, choose crypto or a digital walle.t

If you want to withdraw $100,000 you just won from a jackpot, withdraw through bank transfer. It will take longer to receive the money. But you’re assured of getting your money.

Alex 10.6K
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