In 2020, global gambling was valued at a whopping $66.7 billion. The same data that said global gambling had soared to great heights reported that the figure would be $92.9 billion by 2023. Will this be a reality? Only time will tell the truth to that question.
For now, we had better focus on the things that the world of technology is doing to bring changes in the sports betting sector. However, it is imperative to look at specific innovations that have already been done to bring change in sports betting. A good example is computer picks, which you can learn in great detail at Odds Shark.com.
Here, we’ll focus on more interesting innovations shaping up the sports betting industry. Some of these innovations have been around for a while, while others are just merging. Either way, these innovations have already created an impact in the sports betting sector.
With more innovations on the way, you may be wondering, how will sports betting be in 2022? Let’s look at some of those interesting innovations ahead of the year.
1. Augmented and Virtual Reality (AR/VR)
Without a doubt, things have changed a great deal. When mobile gambling was introduced some ten years ago, many people interested in sports betting were so happy. Although a lot has changed since then, there is still reason to believe that mobile gambling will evolve further.
Changes within mobile gambling have increased anticipation for greater change. But there is more! Today, people can watch all games live and at the same time. This has been made possible by the use of virtual reality.
The experience is even better with the help of augmented reality (AR). Early in 2021, Facebook, which has so far adopted the name Meta made a big announcement. The social media giant said that it would introduce Metaverse, a product that will further push VR/AR into greater heights.
Even before the creation of Metaverse, hundreds of casinos are already offering VR products. Thanks to their efforts, bettors can now get to enjoy 3D avatars, live interactions, and gesture imitations among other features.
However, we have to acknowledge that there is a barrier. For a better VR/AR experience, a gambler needs quality headsets. These headsets are expensive. Nonetheless, it is conventional that quality doesn’t come cheap.
2. More Cryptocurrencies
By now, you are accustomed to Bitcoin, Dogecoin, and Ethereum. We expect that in the coming years, more of these alternative currencies will come up. Even now, blockchain technology has made it easy for a majority of gamblers to bet successfully.
Data safety, payment convenience, efficacy, and security are among the reasons cryptocurrencies are gaining popularity fast. The best of all is that cryptocurrencies will continue to offer anonymity among their users.
While some people say that Know Your Customer is still a good thing, the identity of your customer doesn’t seem to appeal to crypto users. If sports betting firms increased the use of cryptos in 2020/21, there is no doubt that they will increase their usage even further come 2022.
However, it is reasonable to say that many gambling platforms are yet to make cryptos their main payment option. In many cases, we see that cryptos come at the very least. Nonetheless, big things are ahead.
3. Wearables
Unknown to many is the link between wearables such as Smartwatches and gambling. Smartwatches are known for tracking fitness, sleep, heart rate, and other events that require timing such as cooking.
It is, however, surprising to see how these smart devices are changing the gambling industry. Even before we enter the New Year, several betting platforms are using slot machine apps. Yes, we have seen some for-Apple Watches.
Unlike a Smartphone, a Smartwatch is closer to one’s body. Besides, a watch can offer several other uses compared to a smartphone. Going forward, we expect sports betting firms to make good use of more wearables that are even closer to gamblers’ bodies to increase betting chances.
By now, you may be wondering how exactly will a smartwatch help one gamble. Like a smartphone, it is now easy to place a bet while you are in a queue. However, unlike their predecessors, Smartphones, Smartwatches display only important information.
As for smartphones, they are prone to display additional irrelevant information. These pieces of information are likely to distract you when you have limited time that you should use to focus.
Note that wearables use WearOS and watchOS.
These new operating systems are yet to gain popularity among users. Even so, a few gamblers that have tested these wearables say that these latest innovations will soon replace classical gambling means.
4. Social Betting
There is nothing as good as discussing how you a particular bet faired. Many bettors want to discuss the outcome of their bets especially if things turned out in their favor. Through social betting or such kinds of chats, gamblers get to exchange their anecdotes.
Because of this, several community social betting platforms have been formed. Today, you can join social betting communities where you can share your mastery ideas on betting as well as learn from other experts in the game.
Some of the already-established social betting groups where you can sign up and share your betting tips with fellow bettors include:
- Betbull
- Superbet Group
- Sky Betting
These three social betting groups represent dozens with similar objectives. While some markets are yet to embrace this product, social betting has gone a notch higher in the United States. No matter how long it will take for gamblers in other parts of the world to accept social betting, it will finally go through.
The past decade has indeed witnessed tremendous changes in the gambling world, but there is more. In the coming year, these and other interesting innovations will determine how gambling will be done.
Whether you started to gamble so many years ago or recently, one thing is certain: change is inevitable! The gambling industry has witnessed a change in the past and so it will be in the future. As we welcome 2022, be sure that interesting innovations will shape sports betting and other gambling avenues.
