The sports betting industry in the US was yet to get widespread acceptance until 2018, the year in which the US Supreme Court struck down the Professional and Amateur Sports Protection Act of 1992. Since then, sports betting is not limited to Las Vegas anymore. Four years later, the country is experiencing a sports betting explosion as almost 20 million people indulge in sports betting in the country. The revenue generated by the industry in 2021 was also a whopping 4.33 billion USD.
So, what exactly acted behind the scenes in earning the interest of such a huge number of Americans? The answer lies in the technological advancement of the US sportsbook software in a short span of time. Marketing has a huge role to play, indeed, but it is more intertwined and driven by technology than we actually imagine. We will discuss in this article the changes that took place in the sportsbooks in detail.
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Artificial Intelligence and Programmatic Marketing
The amelioration of Artificial Intelligence has revolutionized every aspect of the world, and sportsbooks are no exception. Advertisements governed by AI are highly specific and are targeted at the right customers at the right time. The real-time data collected from users’ preferences are used to generate the algorithms governing the process. In short, AI has been immensely successful in reducing manpower and unspecific marketing strategies in the sports betting industry.
The bookies, however, are not very welcoming of the AI takeover. AI is aimed to eliminate the job of a middleman in sports betting. No wonder sportsbook developers are heavily investing in AI for the future.
Sportsbook as Media Outlets
From being a taboo to collaborating with the best sports media houses, the online sports betting industry has come a long way. They have even moved past the need for relying on third parties for marketing. Sportsbooks these days are no longer just sports betting platforms but serve as media outlets as well. They are including match previews. predictions, and outcomes on their websites, and is getting positively received by the fans. And there is no doubt that the move has been a wise one since it guides the fans before placing a bet and in turn, propel the business.
Smartphones have made our life handy. With the implementation of high-speed 5G internet facilities, sportsbooks have grabbed these opportunities to design mobile applications for their sites. The apps are supported by multiple operating systems like Android and iOS. So, you no longer have to rely on your PC to browse a betting site. From football to horse racing, the top sports betting sites available at your fingertip through downloadable applications and can be accessed anywhere, anytime.
Gone are those days when a sportsbook serves only the purpose of wagering. The software companies are transforming their sites into an all-in-one package where fans can stream a game live besides placing their bets. No wonder these apps serve the purpose of entertainment as well. Live streaming is going to attract a lot of bettors as they can analyse the game better before placing their bets, and enjoy the adrenaline rush of uncertainty as the game progresses, just like in-house betting.
It is not practically possible to follow every sports event happening around the world. However, when it comes to sportsbooks, they serve as a digital catalog of all live and upcoming sports events and give the bettors an opportunity to wager on them. For example, a football fan from the US who isn’t finding a suitable event in his country to place his bet on can look for leagues from Europe and Asia as well. In short, sports betting applications practically cover almost all the significant sports events happening at any point in time and make cross-border betting possible.
Blockchain Technology and Security
Every advancement taking over the sports betting industry work hand-in-hand with the other. For example, cross-border betting is fuelled by decentralized digital currencies managed by blockchain technologies. These currencies, known as cryptocurrencies, are said to be the future of gambling since they are fast, secure, maintain anonymity, and do not require the permission of financial companies and banks. They let the bettor capitalize on the increasing value of the currency.
There are other payment options available as well, like cards and e-wallets. Online transactions have led to the implementation of advanced security measures like end-to-end encryptions and Transport Layer Security.
There Is More for the Future
Sportsbooks have to keep up with the ever-accumulating trends taking over in the digital world. If one betting site comes up with something new, others need to improvise them as well. With the implementation of futuristic technologies, the extent of which is still unpredictable, it can be said that sportsbooks are going to serve an all-in-one purpose and slowly outrun the in-house gambling establishments. On a lighter note, sportsbooks are going to be available at your fingertips, with several other perks and features.