The sports betting industry has significantly evolved, and in 2024, sports betting fans should expect even more convenience and fun. The growth of the sports betting industry means engaging more people through personalized experiences.
We can’t forget to mention the shift toward legalization in various jurisdictions, which resulted in challenges and opportunities for operators to become better. Nowadays, betting operators are required to offer self-exclusion programs and make their customers aware of potential gambling risks. Well, it does not work for all. Only the best betting websites with the great example of Velobet Sportsbook do not fall under strict regulations and make gamblers happy with a wide choice of sports to bet on and enjoy generous bonuses. Let’s talk about sports betting trends expected in 2024 and how they will change the perception of the industry.
Mobile Betting Revolution
You will not surprise anyone with the fact that you can place bets from the comfort of your home. However, mobile applications improve and offer unparalleled experience, making users forget about the existence of desktop devices.
Bettors appreciate the live, seamless navigation that mobile platforms offer. Thanks to in-play and live betting features, gamblers can enjoy a dynamic experience from anywhere. Push notifications and alerts about upcoming events, promotions, and personalized offers also contribute to players choosing mobile gambling.
eSports Betting
In 2024, every bettor is familiar with League of Legends, Dota 2, Counter-Strike: Global Offensive (CS:GO), Overwatch, and Fortnite. Annual eSports tournaments attract millions of viewers worldwide, making the experience more competitive and engaging.
The global eSports Betting market size was valued at USD 840.67 million in 2021. This number can expand up to 25.54% during the forecast period, reaching USD 3291.24 million by 2027.
Cryptocurrency Betting
In 2024, both operators and bettors will be able to benefit from the adoption of cryptocurrency. Popular digital currencies provide gamblers with a higher degree of anonymity and privacy compared to traditional payment methods. As we all know, privacy is one of the major aspects of a safe and pleasant gambling experience online.
Cryptocurrency offers much faster transactions. Deposits are always instant, and the cashouts can take up to 15 minutes. Payment methods such as Visa, Mastercard, Skrill, Neteller, and Interac offer withdrawals that usually take between 24 hours and 7 working days. So, it is not a surprise that betting sites with crypto offered will be favorites this year.
However, bettors should be aware of the fact that some countries have not yet established clear guidelines or have imposed restrictions on the use of cryptocurrencies in online betting. Also, the value of cryptocurrencies can fluctuate dramatically in a short period, so you should always be on top of it.
Virtual Reality (VR) Betting
Compared with 2 years ago, when the use of virtual reality (VR) in sports betting was not yet widespread, we can clearly see its potential and growth at the moment. Virtual reality provides a highly immersive and engaging experience, so bettors can feel as though they are in a virtual sportsbook. It is used to create virtual sports events, allowing users to attend matches or races from the comfort of their homes. Also, gamblers can place bets while watching virtual matches. This is another perk that more and more bettors explore and find fascinating.
AI and Data Analytics
AI and data analytics play an essential role in sports betting predictions. It dictates how bookmakers set odds and how bettors make decisions. Basically, AI algorithms analyze a large amount of data from various sources, including historical game statistics, player performance, and even weather conditions. It provides personalized betting recommendations based on a bettor’s historical activity and preferences. AI can also adjust odds in real-time based on live events, injuries, or other factors, which all impact the outcome.
Sustainability and Social Responsibility
Some of the trends related to responsible betting and sustainability include:
- self-exclusion programs
- deposit and loss limits
- age and ID verification
- education tools on safe betting
- awareness of gambling challenges and consequences
Operators are encouraged to adopt advertising practices, undergo training that teaches how to identify gambling problems, promotion of solutions, and use AI systems to monitor player behavior for signs of problematic gambling.
Conclusion
As you can see, along with mobile applications that make the experience more convenient, the use of crypto for fast transactions, VR, and eSports betting, machine learning contributes to the history of the sports betting market. If you are a betting enthusiast, expect cutting-edge technologies to take over and enhance your betting experience.
