The technological world never sleeps, and neither make the demands of the next generation of technologists. As a result, we never know what the future of sports betting contains. Or maybe we do? Virtual Reality (VR) and Augmented Reality (AR) look to be the next step forward, with the potential to take sports betting to a new level of excitement and delight.
Let’s have a look at the sports betting trends that are likely to emerge shortly.
Micro-betting is a prominent field of research that frequently uses machine learning. Micro betting is betting on short-duration, simple-to-follow events. While more seasoned gamblers and fantasy players may enjoy tracking two basketball players’ total points, assists, and rebounds, many others would rather wager on whether Michael Jordan will make his next three-point try.
Betting on individual at-bat results in MLB games is expected to grow in popularity shortly. While this format requires substantial modeling and is simpler to implement under a Free-to-Play or lottery model, the assumption is that the first movers to successfully thread this needle will get many new customers in valued user groups.
Of course, Esports is not a new idea. The first video games were launched in the 1940s, and tournaments to determine who was the best player were held in the 1970s. However, e-sports did not acquire popularity until the twenty-first century. The first sites for broadcasting Esports matches surfaced in 2011, and e-sports betting quickly followed.
People can now watch their favorite Esports players compete and gamble on their success from the comfort of their own homes. As the games become bigger, the tournaments get bigger, and the prize pools get greater – a practice that is only likely to get more popular.
Free-to-Play Video Games (F2P)
Free-to-play games and contests do not require actual money to play or enter. Many businesses opt to operate under this framework since obtaining a gaming license is an expensive and time-consuming process.
In fact, because most countries in the United States still restrict the use of mobile sports betting software, F2P is frequently a more enticing choice than packing up and traveling to London or Malta, though some do.
Going down the F2P route helps businesses to acquire customers, establish product-market fit, and then determine how to efficiently monetize their Unique Selling Proposition.
Peer-to-peer wagering, whether through the prominent international betting exchanges or another manner, is unquestionably the future trend. The route from here until then, however, is exceedingly uncertain. For example, the 1961 Wire Act prohibits the transmission of money or information over state lines in order to assist a wager. Even if both jurisdictions permit online gambling, a client in one state cannot place a wager with a customer in another. Furthermore, only around half of the states allow P2P betting within their borders.
The surge in competitive gaming interest is occurring among a gambling-age (or soon-to-be gambling-age) population at the same time that casinos and, more lately, online sports betting software are growing more popular than ever.
Several companies are hoping to capitalize on this trend by providing peer-to-peer wagering platforms that allow consumers to participate in video games against one another. The regulatory and logistical obstacles are severe, yet the user base is likely to be underserved and of high value. While adoption is slow, scalability and the liquidity that comes with it may be difficult to achieve.