With a substantial contribution of 700 million pounds per year to the also crypto-affected economy of Great Britain, the sports betting industry in the UK is one of the largest and fastest-growing sectors on the planet, and that’s excluding the growth of the casino industry specifically in the streets of Mayfair. The market is constantly undergoing improvement and change, so forget everything you’ve ever known about UK sports betting and keep a lookout for what the future of UK sports betting has in store for us!
It is not a coincidence that a significant number of traditional betting establishments are shutting their doors. Bingo halls in the United Kingdom have been permanently closed, and William Hill has pulled the plug on more than a hundred land-based bookies.
Nowadays, placing bets is easier than ever, in contrast to having to travel quite a distance to get to the closest betting establishment. These days, however, all you require in order to place your bets on your favourite games is a stable internet connection and a device that you may use to make bets on through online sportsbooks.
Because of the convenience that comes with doing so, more and more people are turning to online sports betting rather than going to traditional establishments. They are also successful in attracting younger customers, many of whom have never been to a traditional bookmaker but are perfectly content to place bets online. The customers of the best betting sites operating in the UK are also eligible for a variety of bonuses, along with analytical tools these sites offer enabling bettors to make more accurate predictions regarding their bets.
Prior to this, there was no reliable way for bettors to assess the various player metrics and fitness levels before a game. Bettors, on the other hand, now get this information served to them on a digital silver platter. They are given the opportunity to keep track of the players’ season statistics, fitness levels, and any other aspects that may influence a player’s overall performance.
Even sports businesses are aware of the significance of sponsorship from sportsbooks! You may anticipate a more rapid transition from brick-and-mortar bookies to online betting sites as a result of the support that the business of online sports betting in the UK is receiving, not only from bettors but also from a variety of organizations and sports teams.
At the moment, betting on football accounts for around 48.4% of the total gambling market in the UK, whereas betting on steeplechase and horse racing accounts for approximately 28% of the total betting on sports. Following horse racing in terms of market share is tennis betting, which accounts for 5%, backed by dog racing, which accounts for 3.1%, and then golf, which accounts for 0.7%. An additional 9.7% of the total gambling market in the UK is accounted for by the sum total of all other types of sports betting.
It is intriguing to observe the rise in popularity of virtual sports, fantasy sports, new sports, and other events associated with these categories. The rise of eSports has been complemented by a particularly fascinating development in the world of competitive sports.
Additionally, with the Qatar World Cup taking place, we can expect football betting to reach an all-time high in the UK and further dominate the UK sports betting industry.
If you haven’t sharpened your knowledge of eSports and football, now is the time!
Although it goes without saying that tremendous technological advancements will power the future of sports betting, there are some intriguing and fascinating new ways that the industry may employ existing technology to push online wagering to exciting places.
The use of AI is one of these. Many industry professionals are of the opinion that in the not-too-distant future, the greatest bettors won’t be humans at all, but rather, they’ll be bots that are programmed with substantial amounts of data and sophisticated algorithms to help them make their selections.
Customers may already get their hands on a few different examples of apps like these right now. The next steps could include bots that use data from less likely sources, such as microchips that are deliberately placed in balls, helmets, and jerseys; stadium cameras that watch players as they travel across the field; and possibly even the athletes’ own biometric data (if such data becomes legal to track during games).
Virtual reality (VR) and cryptocurrencies are also beginning to make strides in the world of sports betting. VR technology is already being used by several NBA teams to place spectators (virtually) on the court. Sports betting organizations may employ the technology to allow consumers to make microbets on shots from such spots by using VR technology.
Furthermore, because blockchain provides an additional layer of protection, cryptocurrency may soon replace money as the preferred method of payment for online sports betting. This might usher in a new era in which Bitcoin and its rivals are accepted in numerous circumstances.