Ten years is a long time, and nowhere is that more evident than in the sports betting world. From new and emerging markets to new forms of betting, the past ten years has witnessed a huge amount of change in sports betting.
Trying to keep up with all the changes can be overwhelming, which is why we’ve compiled a list of the most notable changes in the sports betting world these past ten years. When you’re done catching up, Kwiff’s blog will update you with upcoming developments. With their status as a leading sports betting and casino operator, you’ll always be in the know regarding market advancements.
Now, let’s look at the five most significant changes in the world of sports betting these past ten years.
Rise of Mobile Sports Betting
Mobile sports betting has undoubtedly contributed to the industry’s growth this past decade, and for good reason. Gone are the days of punters needing to go to a physical location to obtain their slips. Instead, all they have to do is whip out their phones and place their bets from wherever they are.
As years went by, more and more betting apps have tried to make life easier for users by introducing helpful tools. They aim to keep the user within their platform, wherever they are; if the popularity of mobile sports betting is any indication, then their plan succeeded. Punters nowadays rarely have to switch to another app just to get some information about the game they’re interested in—the betting app provides them with everything they need to know.
Introduction of Live Betting
Live betting nowadays is pretty much a staple, but flip the calendar back a few years, and chances are you won’t find many bookies offering the option. That’s because live betting is a relatively recent development.
Back then, punters had to wait for the game to finish before discovering whether their bets were successful. Most bets are for the “bigger picture”, with no opportunity to bet on minor aspects of the game.
Thankfully, companies have found a way to make betting more interactive, even while the game progresses. Allowing users to place a wager on something minor that could occur soon allows everyone to react accordingly based on how the game is going. Live betting enables users to follow the game more actively.
Growing Popularity of Social Betting
Betting used to be an activity that had to be kept on the down-low, but not anymore. As sports betting continues to become more popular globally, players no longer have to be anxious about placing bets for fear of being ostracised.
Even better is the rise of social betting over the past few years. Some companies found a way to turn betting into a network, placing like-minded punters together to discuss team wins and losses. By giving players a sense of community, they can listen to other players and improve their betting strategies.
Improved Betting Technology and App Functionality
If you compare a betting platform from ten years ago to today’s, chances are you’ll be quite surprised at how much it has evolved. That’s because bookies are always looking for ways to improve user experience and introduce new ways of betting.
Remember when we talked about the increase in mobile betting? Aside from convenience, one of the main reasons for its popularity is the number of features added throughout the years. Nowadays, a betting app is no longer just a betting app—it’s a one-stop shop for anything sports-related. Need to watch a game? Check the app. Want to see stats for the upcoming game? Check the app.
As apps developed with more features, so did the types of bets available. Technological advancements allowed new things like live betting to happen within a mobile app. After all, a mobile app needs to be able to stream a game and support informational overlays simultaneously; any poorly coded app will crash under such demanding conditions.
Interest in Virtual Sports
Virtual sports are a relatively new development in sports betting yet are proving to be surprisingly popular. With constant changes in online entertainment, bettors can now support teams that involve completely digital, non-human players. This has also shaped a market for competitive e-games as well.
Virtual sports may still be a novelty in comparison to the popularity of traditional sports viewing like Rugby or Football but there’s no denying its huge online presence. With changing markets and new generations of fans investing time into the sports world, it’s very likely virtual sports will become a mainstay in the betting industry.
