How Sports Betting has Evolved into a Tech-Driven Giant

How Sports Betting has Evolved into a Tech-Driven Giant

Betting on sports has been around for millennia, with its origins tracing back to the ancient Greek civilisations and then becoming mainstream in ancient Rome, with the popularity of gladiatorial games. Over the centuries, and with the rise of modern societies, betting shifted from an activity between two people to a few positioning themselves as trusted bookmakers willing to hold and pay out on bets.

Bookmakers became the go-to way to place bets in the modern age, with businesses setting up to offer guaranteed payouts to winners. These professionals are still the primary point of contact for bettors, but now, it’s the companies that have leapt digital that has evolved the industry. It’s not just that sports betting is available online, though, as increased competition has forced innovation in the sector.

Competition creating innovation and tricky decisions

The internet has allowed bookmakers to create one website to appeal to millions, as opposed to needing to raise funds to create betting shops in populated markets to maximise appeal. Now, provided that they adhere to the rules and regulations of national governing bodies, any bookmaker can set up a betting site. This has resulted in a tremendous swell of sites, all of which are competing for all of the bettors.

This has spurred the evolution of sports betting but has created somewhat of a problem for bettors. Due to there being so many high-quality and trusted sites, it’s become difficult for bettors to know where to register. So, the industry has expanded further, with in-depth expert review pages by the likes of detailing what makes a good site. The two key points for a site to be ranked among the best now is its consistency to provide a top-draw service, as well as offering value for a bettor’s money.

The level of competition and trusted platforms highlight that the current bar has both helped to spur innovation. Now, to succeed, betting sites have to align with the best odds, offer user-friendly options, and utilise new technologies to make the experience even better.

Modern evolutions driving the popularity of the activity

The refinement of computerised odds-making allowed online bookmakers to quickly get the edge over the betting shops – many of which would continue to rely on limited printed sheets to offer betting. With this technology, they could accumulate statistics and create odds for more specific outcomes, allowing any suspicion or knowledgeable assumption to be bet on for any major professional meet.

Realising the power of the internet and connectivity that people have suddenly adopted in the 2010s, many platforms integrated live streaming. Seeing sport live is a huge part of fandom, with even the US wanting to watch football contests like the Copa America via a live stream, as detailed here

So, leading platforms developed away to bet live while experiencing the action, offering in-play odds and betting based on the play to that moment. This has evolved further, with the live, there-and-then experience being leaned to create the cash-out feature, which calculates a value of return on a bet before the outcome bet on has concluded.

Perhaps the greatest evolution in sports betting that’s helped it to grow online has been the welcome bonuses. These have been commonplace for years but weren’t always favourable to bettors due to the wagering requirements that effectively made it impossible to make money from the bonuses. Now, though, seeing the value in having a user-friendly persona, top sites eradicated them from their terms and conditions.

Sports betting has come a very long way since its inception, but the embrace of technology is predominantly to call back to the historic enjoyment of sport and betting: seeing a result unveil itself live.

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