Sports betting, as a significant part of the spectrum of online gambling, finds itself at a crossroads. The entire industry is in the middle of unprecedented growth. Every type of capital partakes in this ascension. From invested money to image rights, online gambling sees an admirable volume of influence to drive it forward.
Despite the obvious positive trends, we still have reasonable reasons to pose questions about the future of this industry. While its survival and prosperity seem to be in a good place, where does innovation stand? Is there room for growth in terms of product quality? Are there new horizons to strive for?
In our opinion, this article will prove that the future is still bright. Progress can be a bag full of surprises for those unfamiliar with such a field. Thankfully, initiatives like ours are here to sustain your interest in online gambling’s particularities and technicalities.
Here are the most important future trends that our team predicts for the online gambling industry. Quite notably, these are not predictions born out of thin air. Most of them follow present trends with an upside for the future!
Regulatory clarity should require better standards for players
Legislation is the mother of all change for online gambling. This industry may have universal principles of operation, but they still need to bend and shift according to the rule of law. Since different jurisdictions have varying legislation that dictates the rules of the game, sports betting operators follow regulatory changes.
In most of the primary markets around the world, the rules are already set. The field knows its adjacent rules. Most of them establish the need for dedicated licensing, which requires meeting certain standards.
Legitimate betting operators flock toward regulated markets because they provide legislative clarity. An established gambling brand knows what it needs to offer if it is to qualify for a license.
The future of online gambling would see markets adopt legislation that provides that necessary clarity. Governments that adopt new gambling legislation set the rules that would clarify how operators need to conduct themselves. Markets like Brazil and several American states are in the middle of such a process at this moment.
The result would be an increased emphasis on player protection. More regulated local markets would bring about legitimate online betting platforms that do have the right to provide these services. Legitimacy joins hands with emphatic responsible gambling initiatives.
The result will be a clear market that does its utmost to eliminate predatorial operators and help players choose legitimate platforms more easily.
Integrated blockchain connectivity
Like it or not, blockchain technology has become integral to the global economic landscape. Cryptocurrencies have already started to mature, especially in the case of established currencies like Bitcoin and Ethereum.
Yes, value volatility is still a source of anxiety. However, anonymous and lighting-fast payments are still worthy advantages that complement the obvious investment opportunities. Moreover, these upsides mesh well with the act of placing bets online.
Offshore-licensed brands have already started to integrate all kinds of crypto coins in their payment methodologies. Some have shifted their focus entirely to crypto. However, big markets like the UK have yet to accept such payments.
If the crypto market itself continues to mature and prove stable enough, we could see a future integration in established gambling markets. The future appears to be now, but there are still steps that crypto gambling needs to take.
More inherent AI tools
Artificial technology is, by far, the most red-hot technological topic today. We see its integration everywhere. However, the discussions and controversies around its use still prove that we are far from seeing its universal integration.
In online gambling, AI has yet to establish a powerful foothold. The most popular implementation is a rudimentary chatbot that serves as a glorified FAQ answer generator. However, the market has seen new methods of using AI.
BetBrain Brazil uses an AI tool, the BetBrain AI, that can serve as a template for future implementation. The AI can generate betting slips according to your desired winnings, settlement dates, and number of lines. Such a use can help you localize your betting interests. In the future, AI-generated suggestions can deepen your interest in betting.
Other future uses include AI-powered customization for bonuses, gamification quests, and pattern recognition. Receiving betting suggestions or identifying erratic gambling patterns can be of great help.
Instant play or apps?
This is a complex question that, frankly, has no current answer. Using an integrated app is a localized and bespoke experience. However, the swiftness of in-browser, instant betting provides a more compact experience.
The future of sports betting depends on the available funds at hand. As such, the operators may weigh if the investments in a dedicated app can yield enough profit. If players appreciate the upside of entering a betting site, moving fast, and not having to download any additional software, we can see the app format heading towards extinction.
VR & AR – a pipe dream?
There was a time when virtual reality (and its adjacent augmented reality sibling) was the hottest thing in tech. Nowadays, it’s more of a novel experience. It’s not as inevitable as AI, for example. The main reason is the relatively high price of VR hardware.
Will we see VR in sports betting? In our opinion, not anytime soon. This type of experience can best serve the casino gaming aspect of the online gambling industry. Using your VR headset to simply place a few bets sounds a bit redundant.
However, there can still be a point in the future when online gambling platforms provide interactive (and social) experiences that you can maximize with VR tech. As a result, sports betting may join the party by association rather than being a target field for VR and AR technology.
Conclusion
The future of online sports betting will definitely follow the trends of contemporary and future technology. Aspects like AI and blockchain payments are already entering the market and will continue to become more established. Moreover, newly adopted regulations will open new markets for the involved operators.
However, regardless of the era, place, and platform you bet on, there will always be a universal law: you must bet responsibly!
