Technology has changed the human race - the way we travel, communicate, shop, and collaborate around the world. It’s hard to find a sector that technology has not been able to disrupt. In the online gambling industry, the story is no different. Technology has had, and continues to have tremendous impact on how games are played online - from the many to the websites to the applications we download on our mobile devices, this sector has been engulfed totally.
One of the biggest technological invention that undoubtedly changed the way we bet is the internet. Whiles the internet was transforming finance, business, and many other sectors, it did same to the betting industry. The world saw a drastic move of gamblers from the normal brick and mortar betting to online platforms. As technology develops, bettors could place their gambles from wherever they find themselves, whenever.
Mobile betting is another technology invention that has taken over the betting industry. Gamblers can now place their bet through many of the mobile applications and mobile online bookies at their disposal. This has shifted attention from even the desktop or browser betting that clouded the early stages of online betting. This shift didn’t come alone but was propelled by other factors, including players’ quest for convenience, the development of mobile friendly gaming platforms, the ability to gamble and use social media on the same device (mobile), and the experience that come with mobile gaming. And according to the , by 2016, 37% of the global gambling market was generated by mobile games. The mobile technology is fast changing the sector with even more innovative products.
FINTECH has also changed the development of the online betting industry. As the development of cutting-edge financial technology came into full play in the 21st century, how we move money from one end to another has changed. Betting used to be physical, where gamblers have to deposit their money, bet, and claim their winnings. With the advent of mobile payment platforms, depositing money and withdrawing one’s earnings from an online portal has become easy. This has eliminated the usual the usual depositing through banks and hasten the entire process.
The introduction of the blockchain technology is changing the gambling sector through decentralization. The blockchain has helped create many online gambling platforms. This time, the decentralized nature of the blockchain has ensured that these gambling dens are not controlled solely by a few groups of people, there is transparency in gambling, and winners are able to withdraw their earnings through cryptocurrencies without going through third party processing platforms like PayPal or Skrill. Additionally, cryptocurrencies and the blockchain have allowed gamblers to bet online without prying eyes – thanks to the anonymity of some of the blockchain-powered online games.
Technology has been the major driving force changing the online gambling and betting industry. From the creation of websites to desktop applications to mobile betting platforms and online bookies, betting is going to see major changes in future.