How technology and marketing have changed the betting industry
Online sports betting is a popular form of gambling, where sports fans get to use their knowledge to try and predict what will happen during an event. It is a great way to make matches more exciting and to make it fun to be both in the stadiums and at home.
You can bet on almost any sport possible, at any time, and from anywhere. Technology has made this possible, and it is now very easy to look up NFL Week 3 odds or to bet on sports events across the globe. Technology has made a huge impact on almost all industries, and it is just amazing to see how it has changed online sports betting for the better.
Advanced online platform
Most betting happens online, to make it easier and more accessible to place wagers and look up odds. There are a lot of different betting sites out there that allow you to gamble on the go, or at home. Technology plays a huge role here, and it is making the sites easier to use and quicker to navigate.
The many features on the sites and the focus on UX design make it more fun to bet and impressive to use the different platforms. Nowadays we are mostly using our phones for digital entertainment, as I Is easy to grab on the go and to always keep by your site. There are also a few things that annoy you with the computer. To accommodate the target audience, more betting sites are focusing on mobile betting, by either creating apps, or simply adjusting the websites to fit smaller screens.
Live to bet
One tech feature on betting platforms that is getting very popular is live betting. This is where you bet on matches as it happens, for example by wagering on something that could happen within the next 15 minutes or so. It is a way to make betting more fast-paced and interesting. It is popular among bettors because you can get some good odds and profitable wagers. However, it is also riskier and more stressful, as you do not get to think about the best for long or to plan accordingly. Live betting should only be done if you can afford to lose the money you bet with and if you have some betting experience in your toolbox.
This type of betting is dependent on fast and well-developed live technology that allows the players to bet in real-time. On good betting sites, you will find live statistics that are ever more up-to-date than on TV and are the closest you will come to experiencing the matches exactly as they are happening, without actually being there. This is also something that makes it more interesting for bettors.
Growth in the betting market
All these developments have contributed to growth in the betting market. In 2020, the global online gambling software market size was USD 66.72 billion; and it is only growing bigger as the years pass. Not only has this meant a larger target audience; and more customers for the betting site, but it is also increasing the competition.
More sites are being created, and the established sites are getting better. New actors are innovating new ideas and solutions to be able to compete with the already existing sites; and to become a more attractive site to gamble on. This could for example be to create a greater presence on social media and create a community for their players. Many betting sites are also focusing on providing bettors with a lot of sports to gamble on. A big selection of sports creates a bigger platform and a more professional feeling. It is nice to have a variation of sports to bet on just in case you discover a new event or a team you would like to wager on.
Increased marketing budgets
The competition has also made marketing an increasingly more important factor. Big sportsbooks are putting in a great effort to spread the word about their services; and to attract people to their sites. It is not uncommon to see ads online that are promoting gambling; and directing you to their sites, and we have also begun to see it physically. Some betting providers are sponsoring football teams and huge sports events, where the target audience is often present.
Many countries are loosening their gambling laws and are legalizing betting in their region. It has also made it easier for sportsbooks to create commercials and sponsorships. However, there have been cases where bigger actors in the online sports betting industry have been fined for promoting gambling to minors, or those under the legal gambling age in the region. Online sports betting sites and other gambling actors should therefore be careful; who they are directing their digital and physical marketing to
Bonuses and offers
A popular way to attract new customers to join and bet online is to give out bonuses and special offers. It can for example be welcome offers where the new bettor is rewarded a deposit bonus when they create their profile and deposit the first amount of money to gamble for. These kinds of bonuses are also popular in online casinos, which you can often find together with betting.
Joint sites with both betting and casino gambling have been created to attract a bigger target audience and hopefully get casino gamblers to start sports betting, and vice versa. People who are already gamblers will usually be more likely to try other types of gambling; and could be a possible user segment for both online casinos and betting sites.
The technology will likely continue to be developed and make trail-blazing changes to industries like gambling and sports betting. Most betting is happening online and increased digital; and physical marketing has made it easier to access and learn about new betting sites. It is an interesting industry to follow, and we are excited to see what it will bring in the future.
