Thanks to emerging sports betting trends, cutting-edge technology is changing how sportsbooks operate and plan. Clearly, sports betting is growing, and technology is driving it.
A Technavio report predicts global market growth of the industry to $134.06 billion between 2020-2024, a CAGR of over 10%. Respectable growth is also projected for the online casino market. At some point, it could become the dominant segment. This is giving rise to an increase in innovation in the iGaming space, especially at sportsbooks.
Mobile betting is one of the most popular sports betting trends. Mobile sports betting offers unprecedented convenience by putting a consumer’s whole gaming portfolio in their pocket.
Due to the convenience of betting at any time of day, both well-known and lesser-known sportsbooks are increasingly embracing mobile gaming. Examples of mobile betting options include in-game bets, cross-sport parlays, money lines, and round-robin bets.
Microbetting, sometimes known as in-play betting, amplifies the thrill of a game. Instead of just betting on the winning side, in-game betting enables fans to wager on all types of event aspects.
With continuously shifting odds and new gaming options, bettors are more interested than ever. Micro-betting has become a key trend in sports betting, with major operators partnering with technology firms for the results.
Last-minute betting is a subset of in-play betting. Some bettors feel the ideal time to strike is towards the end of a sports event. Sportsbooks’ odds may alter fast at the finish of a game, allowing some players to earn even more by waiting until the very end.
The odds of winning are higher if there is less time left. The higher odds allow you to profit and still bet on a goal being scored. It is not uncommon for a team to be behind and put all their effort into the game.
Another variant of the Last Minute-Bet is to place a bet AGAINST certain results of a game. The odds of getting the expected result are lower the more advanced the game, but higher odds are given to other outcomes.
Prop betting, which is already popular internationally, is gradually gaining popularity here. Prop betting benefits sportsbooks since it draws individuals who are unfamiliar with the game, resulting in greater value bets for the sportsbooks. Prop betting gives bettors more chances to profit from their predictions, which adds to the game’s excitement.
Prop betting has always attracted a lot of action, but is increasingly more popular among US-based sportsbooks. While most prop bets are on specific athletes or events, some sportsbooks are experimenting with more unorthodox options.
Exotic prop bets are prevalent during the Super Bowl, such as betting on the duration of the national anthem or the outcome of the coin toss. Another popular prop betting section is seen on celebrities attending several games, such as Drake making 10 appearances in the 2021-22 NBA season.
Fans and gamblers who want to know more about the game may use player monitoring technology, which shows their real-time activity and fitness level. Zebra Motionworks, for example, has a player tracking system based on patented RFID technology and an NFL collaboration.
Coaches may utilize Zebra’s technology to better athlete training and adjust to player energy and performance during a game to raise the efficacy of their strategic approach. This information is ultimately channeled to sportsbooks, improving the lines and odds that are offered.
Betting on esports was unquestionably a top trend for 2021 and has carried into 2022. Globally, competitive video games have grown in popularity over the previous decade. Games like League of Legends, Dota 2, and FIFA are popular among esports bettors. While most of the globe was shut down during the epidemic, many bettors found a new concentration in esports.
Esports are already popular all around the globe and show no signs of slowing down. Industry Insights estimates the global esports betting market will be worth $20.7 billion by 2027.