by The internet has irrevocably changed the way we gamble. For better or worse, punters now have unprecedented access to an array of betting opportunities with online sportsbooks and casinos. The growth of online bookmakers has accompanied a rise in mobile devices, with many people now using their smartphones to place bets and make NCAAB picks.
In this article, we will look at how technology has improved betting.
Online Bookmakers
The first and most obvious change is the vast array of online bookmakers now available. In the UK alone, there are over 100 licensed bookmakers, many of whom operate online. This increased competition has been great news for punters, who can now shop for the best odds.
It’s not just the number of bookmakers that has increased, but also the range of markets they offer. For example, it’s now possible to bet who will be the next James Bond or whether Scotland will become an independent country.
In-Play Betting
Another significant change is the introduction of in-play betting.
This is where you can place bets on events that are already underway. So, if you think a team is going to stage a comeback, you can back them to do so.
In-play betting has taken off significantly and is now available in many sports, including football, cricket, and tennis. Live streaming has made it even more popular, allowing punters to watch the action unfold and place bets accordingly.
Mobile Betting
The growth of mobile betting has been one of the most significant changes in the gambling industry in recent years. Thanks to the advent of smartphones, punters can now place bets anywhere at any time.
All the major bookmakers now have apps that can get installed on iOS or Android devices, and many also offer mobile-optimized versions of their websites. This has made it easier to place a bet at work or on the move.
Cash Out
Another innovation that has emerged in recent years is the option to ‘cash out of a bet. This allows you to profit or cut losses while an event still occurs.
For example, let’s say you’ve placed a bet on a football match, and your team is winning 2-0 with ten minutes to go. The bookmaker may allow you to cash out your wager for a profit.
Alternatively, if your team goes 2-1 down, you may choose to cash out to cut your losses.
Betting Exchanges
Betting exchanges are another relatively recent innovation and offer a different way to gamble. Rather than betting against the bookmaker, you’re betting against other punters.
So, if you think a team will win, you can place a bet at odds that are better than those the bookmakers offer. Or, if you believe a team will lose, you can lay a bet and hope that someone else backs them.
Betting exchanges take a commission on winning bets, so they’re not always the best option if you’re looking to make a profit. However, they can offer better value than traditional bookmakers, and they’re also a perfect way to get involved in the action if you’re new to gambling.
Bitcoin
Bitcoin is a digital currency that can be used to place bets anonymously. Because governments do not regulate it, punters who live in countries where gambling is illegal tend to use it.
Bitcoin has grown recently, and many online bookmakers now accept it as a payment method. The main benefit of using Bitcoin is that it offers a high degree of anonymity.
However, it’s also important to be aware of the risks, as the value of Bitcoin can be volatile.
Virtual Sports
Virtual sports are a relatively new addition to gambling and offer an alternative to traditional sports betting. Virtual sports are computer-generated simulations of real-life sports, and they’re becoming increasingly realistic.
Many bookmakers now offer virtual sports betting, and the range of sports on offer is constantly growing. Football, horse racing, and greyhound racing are just some of the sports you can bet on, and there are often multiple events occurring around the clock.
Social Media
Social media has also impacted the gambling world for better and worse. On the one hand, it’s made it easier for punters to find out about new offers and promotions.
On the other hand, it’s also led to the rise of fake tipsters offering misleading or fraudulent advice.
That said, social media can be a great way to stay up-to-date with the latest news and information. Many of the world’s top bookmakers now have Twitter accounts, and they often use them to provide updates on offers and promotions.
Verdict
As you can see, technology has had a profound impact on the world of gambling. From the advent of online bookmakers to the rise of mobile betting, it’s never been easier to wager. However, it’s important to remember that gambling is still a risky activity, and it’s important to gamble responsibly.
