The key to everything is data

Today, almost everyone has access to the most up-to-date stats and news about their favourite teams and athletes, including those who play in other leagues. Analysis of the data collected by Big Data technologies is performed before betting a bet is offered to players. So sports betting is more and more like stock exchange.

Football is still the most popular sports (at least in Europe)

More and more teams will be advertising sports betting or online casino brands in the next years, making it the undisputed ruler of the betting world Athletes’ jerseys, advertising in strategic stadium locations, appearances on team websites, and media coverage all help these companies get a foothold in sports venues.

Esports on the rise

It exploded in popularity during the previous year, and both money and viewership have increased this year. Networks like Twitch and YouTube are used to spread the word about competitive events. Every credible betting operator has been offering esports matches for a few years now.

NFTs and Blockchain are gaining popularity

Despite being blocked in some countries by strict rules and regulations on payment methods sponsored by traditional banking institutions, more and more operators and online casinos now allow bitcoin deposits. Being anonymous and trustworthy, crypto and betting will be a handy duo in the years to come.

Automated and suggested bets

Players may make predictions without spending a lot of time by using automatic bets. Fixed rates are set by the sports betting experts who use rule-based tactics to set them. They are then automated through the whole process. The same applies for suggested bet builders. This sort of betting may be quite successful, since bets on undetermined odds can be very beneficial.

By 2026, we can expect the betting sector will reach $59.53 bn. which means an almost 100% increase from the end of 2021 How did we manage to get that far?

Because of advances in technology and regulation, betting is becoming more accessible to the general public. With 4.66 billion active internet users globally or 60% of the population, sports betting is more and more user-friendly.

And here are some of the technological features that will keep pushing the industry towards further development in 2022.

Live Betting – “On the Go” Service

This technical trend has existed for decades, but it did not find a market place until the pandemic breakout, when all bookmakers began modifying and optimising their websites and apps for online betting. The main reason why bookmakers want to enter the mobile betting business is that more than 6.37 billion individuals, or 80% of the population, now own a smartphone.

Micro-Betting – The “Sweet Spot” of Bet Builders

Creating a betting app or a website allows bookmakers to establish new types of sports betting that increase the enjoyment of every betting encounter. Bookmakers anticipate a future development in the micro gaming sector (such as slots), where customers can place tiny bets during the length of a single game.

Instead of betting on the winning team, micro-betting or in-play gambling allows gamblers to place their money on a variety of minor variables during a live event – corners, cards, sets, games, break points etc. This may appear easy, yet it is a major headache for bookies. They must precisely anticipate the odds of minor bets in real time and keep them updated throughout the game. Machine learning technologies and automation are used by the majority of betting organisations to produce various betting options in seconds.

Artificial Intelligence (AI)

Artificial Intelligence (AI) is a big step forward for the sports betting business, and it is still being explored in the real world. AI can provide numerous advantages to bookies and bettors because it will use data to properly anticipate the outcome of each match or race. This means that bookmakers will be able to establish more precise odds and improve their earnings, while bettors will have a greater win ratio as a result of the analysed data that is beyond the reach of humans.

VR and Augmented Reality Sports Betting

We’ve seen the potential of Virtual Reality and Augmented Reality technologies, and while they’re not yet ready, many experts believe they’ll be employed in a variety of industries, including betting.

Imagine purchasing a ticket to the Super Bowl or a Formula One race and getting a first-person perspective of a live event. With your VR headset, you’ll be able to watch any sports match live and perhaps place bets while doing so. We anticipate that more bookies will begin streaming live events on their websites or apps, or perhaps providing you with exclusive first-person access to live events.

Conclusion

The sports betting business is quickly expanding at the present, and we can see a shift in people’s betting habits. Previously, the primary goal of every bettor was to make a profit, but now they also consider the experience and want to have fun.

Such technologies have the potential to improve the whole betting experience, attracting new customers to the industry.

Ultimately, the purpose of each business, with sports betting being no exemption, is to attract players. Bonuses, promotions, awards, and customer service are all great motivators, but staying on top of the latest technological and social trends will be a must to “survive” 2022 and beyond.

Attracting more licensed operators and improved consumer channelling rate are the rationale behind the decision made by the Government, subsequent to the months of lobbying performed on behalf of the nation’s leading operators, the process firstly resulted in passing the new Gaming Bill back in 2011 and opening of a subsequent licencing windows.

The projected change in budget structure is to be applied to fixed-odds sports betting, betting exchanges and fixed-odds horseracing, but also to online casino, poker and bingo.

However, there is a massive road ahead of this reform, as the ruling party struggles to assure the absolute legislative majority needed for the passing of the Bill in light of the country’s ongoing political crisis. Furthermore, the Spanish division of competence is such that the federal authority is in charge of lotteries and complete online gambling offer, whereas retail offer is under the jurisdiction of regional territorial units.

The legislative process is expected to last at least one month, with the new tax regime to enter into force in summer this year.