Though online sports betting has been around since the mid-1990s, strict or non-existing laws regarding this pastime stumped this industry’s growth. However, over the past few years, things have changed. According to the American Gaming Association, over 23 million Americans bet $4.3 billion on this year’s Super Bowl, marking the largest amount of mobile bets placed on a single event in US history. In the UK, the country’s gross gambling yield is close to $20 billion, with 70% of those revenues coming from the online sphere. So, this shift to mobile betting is global, with aggregation sites like betting.co.uk helping betting enthusiasts make educated choices regarding operator selection.
Naturally, the rise of mobile technology is one of the substantial contributing factors to this industry’s expansion. Today, everyone can place a wager from anywhere at any time using a mobile app downloadable via the Apple Store or Google Play. A little piece of dedicated software opens the doors for more wagering possibilities than any brick-and-mortar venue can match. Thus, below, we elaborate on a few tech advancements that set mobile betting apart from partaking in the activity at real-world outlets.
Instant Odds Calculation
One of the most massive allures of online sports betting is the ability to make in-game wagers. In general, event odds get calculated using historical data that serves as a guide for predicting future events. That said, money bet on both sides involved in the contest also has a sizeable effect. If more people start wagering on the underdog, the bookmaker will increase the likelihood that that team might win. In live betting, an algorithm does all this work instantly. It digs through vast databases of information, follows overall betting patterns and the score, adjusting the odds in correlation to these elements.
Streaming is the transmission of a video feed over the internet in real-time. Meaning, the data transfer happens without said video getting stored on the user’s computer. Many factors come into play to make this technology a possibility. The steps involved are compression, encoding, segmentation, CDN distribution, CDN caching, decoding, and video playback. In the past, latency caused by low bandwidth speeds made live mobile streaming choppy. Today, 4G networks can facilitate transfer speeds up to 14 Mbps, more than enough for watching live feeds. Sadly, only a select few sportsbooks can afford to pay the fees necessary to show sporting events live on their platform.
Blockchain technology got invented in 2009, yet it only recently went mainstream. Its incorporation in gambling platforms began in 2013, and now, most top brands in this sphere accept Bitcoin and other popular cryptocurrencies. A blockchain is a digital ledger or record book of transactions. This technology’s name comes from its structure, made out of blocks/records linked together in a chain/list. Its benefits in terms of mobile betting are that it allows for faster, simpler, and cheaper financial transfers while providing total anonymity.
AI-Powered Customer Support
Chatbots are AI dialog systems, which are now commonplace in the online customer service sector. The earliest notable examples of this technology date back to 1966 (ELIZA). However, that software was crude compared to the chatbots we have today. Natural language processing is a pertinent field in AI research that has significantly helped chatbot development through pattern matching techniques. More modern software even incorporates evolutionary algorithms that aid the AI to learn in real-time and optimize its communication abilities. Almost all online casinos/sportsbooks utilize AI-powered customer support in one way or another. Some systems are more complex than others, but everyone’s goal is to cut down on the reliance on human resources in helping clients resolve their issues.