Online sports betting is growing at a great pace and there seems to be no sign of halting this growth. The added convenience, excellent perks, and unrivaled fun offered by online betting platforms are the main reason behind this exponential growth. People can enjoy betting on their favorite sports from their comfort zone using the Internet. Also, they can enjoy amazing bonuses and rewards for their excellent performances. Apart from these reasons, emerging technologies and trends have a major role in the continuous development of the online sports betting industry.
If you are about to start an online sports gambling business or wish to upscale an existing one, then you must know and implement these trends. You must consider all the top trends during sports betting software development and build cutting-edge software that can outperform the massive competition. So, here is a list of the top five emerging trends that can get you on the track to success in the sports betting industry.
- Mobile Sports Betting
The progression of Smartphones and mobile app development technology has a significant impact on the entire gambling industry. More and more punters and sports fans prefer using their Smartphones to wager on various sports. And why not? Mobile wagering allows them to place bets on sports from anywhere, anytime without having to sit in front of the PC for a long time. Moreover, the faster Internet speed and engaging gambling apps are enhancing the mobile gambling experience to a great extent.
Not only wagering, but bettors can now enjoy all the activities associated with sports betting software on their Smartphones. They can watch live streams, check live scores, deposit and withdraw money as they do on the sportsbook’s software.
Nearly half of the world’s population owns a Smartphone, thereby the number of mobile bettors will be massive. If you don’t want to miss out on these potential users for your sports betting platform, consider embracing the mobile-responsive or sports betting app development solutions. By creating a feature-rich sports betting app you can attract more punters across the world and boost the business revenue.
- Live Betting
Amongst many betting types, live betting is something that has been preferred by many bettors nowadays. Live betting also known as in-play betting is a rapidly growing trend in the online sports market. This type of betting allows punters to place bets as the game happens. For example, one can watch the soccer match and place wagers on who will score the touchdown. To make the most out of the live-bets, bettors can also check the real-time statistics. Having better odds is one of the biggest reasons why live betting is popular amongst bettors. Live betting offers higher odds than regular betting options. Also, this exciting betting type keeps bettors seriously involved in the game till the last, which is an advantageous factor for sportsbook operators. If you are looking to grow the retention rate for your Sportsbook website or app, you must provide bettors with in-play betting options.
- Betting with Cryptocurrency
Cryptocurrency is one of the biggest trends that has been fetching bookmarkers’ attention drastically. It offers excellent benefits to both the operators and bettors. This is the reason why many sportsbook operators are adopting cryptocurrency as one of the main payment gateways for gambling on their platforms.
When used for gambling, cryptocurrency allows bettors to do transactions securely and conveniently. Also, many crypto-powered sports betting software charge zero transaction fees, which means bettors can do unlimited free transactions daily. Besides convenient and secure, cryptocurrency sportsbook platforms also enable faster transactions, which leads to enhanced user experience.
- Live Streaming
Getting to watch their favorite sports matches on the same platform enhances users’ experience and entices them to use your platform regularly. Considering this, Sportsbook operators and bookmakers are increasingly embracing the live stream trend to boost user retention and engagement rate on their platform.
When adding a live stream option to your sports betting software, you can get a competitive advantage. Also, you can attract new customers and expand your business.
- Offering Bonuses and Free Bets
Bonuses and free bets continue to be a crucial part of user retention and engagement strategies. Almost every sports betting platform has a bonus system to engage punters and entice them to keep coming back. Many bookmakers offer free bets to new users hoping that they will invest real money over time. Also, several sportsbooks are embracing newer ways to reward punters for their achievements.
On a Final Note!
Both the technology and non-technology trends are impacting the online sports betting industry dramatically but in a positive way. Sportsbook operators have been experiencing excellent business growth by adopting these trends. Now, it will be exciting to see what more trends and technology advancements the future have conceded for the online sports betting industry. Surely, the market will take a massive facet and will offer more excellent opportunities to sports betting software developers and operators.
