How Sports Betting Is Evolving: The Latest Trends To Look Out For

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The sports betting industry has grown to become one of the most lucrative in the gambling industry, netting a cool $85 billion globally in 2019 alone. Thanks to advancements in modern technology, this number is likely to rise considerably in the future as more bettors opt to use online sportsbooks and betting sites to place wagers on their favourite sports.

These days, sports betting is easier and more convenient than ever, and customers are taking note. Like any other industry, sports gambling is ever-changing. Here are some significant trends that could take over the industry in the next few years.

Cryptocurrencies

Using blockchain technology eliminates the need to deal with any fiat currency and any financial institutions to help process online transactions. With cryptocurrencies, payments are not only easier and faster but safer and more private than ever before.

Another key advantage of using cryptocurrencies on sports betting sites is that there are no transaction fees, allowing bettors the freedom to make unlimited daily transactions for free. This is undoubtedly hugely beneficial to sports bettors. As one of the best advancements in modern gambling, there’s no doubt that cryptocurrencies will soon be widely accepted at online betting sites in the near future.

Live Betting

Live betting is another game-changing trend in sports betting, an already well-established industry that leads the pack as the most popular online betting activity. These days, players can bet on a particular game or match while it’s still live and in play. Thanks to this new advancement in sports betting, players can enjoy the thrilling experience of minute-by-minute developments affecting their odds in real-time.
Essentially, live betting allows bettors to place additional bets during a game in favour of winning. This is different from standard betting, which is usually placed before the game has started and does not allow for more bets once the game or match has begun.

Players watching the game can now add to their wagers based on how the match is playing out, boosting their chances of being successful. Live betting has become one of the most popular ways to bet on sports, with many top sportsbooks offering multiple live betting matches daily.

The Rise of eSports

eSports is a relatively new betting market that has been making waves in recent years. As the name suggests, eSports refers to electronic sports, which are basically video game tournaments played by professional members or teams. eSports has gained lots of attention in the last five years thanks to viewing sites like YouTube and Twitch, allowing fans to watch these tournaments live.

Besides just watching, bettors have the option to place wagers on the outcome with numerous betting types and sub-categories to choose from. Based on the prevalence of live streaming, eSports will likely continue on its trajectory to being one of the most lucrative gambling industries in the world.
It’s clear that modern technology has a massive impact on the sports betting industry and will continue to do so as players become more tech-savvy.

Today’s lifestyle means that access to the internet is no longer a luxury but a necessity, allowing for more accessibility to players in the most convenient way possible. The gambling industry can certainly thank modern technology for helping it carve out a fresh and lucrative new audience among online players.

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