Modern technology has enabled some of the most remarkable changes humanity has ever seen; there doesn’t seem to be any industry that hasn’t observed once-in-a-century levels of change. In today’s market, a quick look at the top companies reveals how much modern technology has changed the world. Aside from oil companies and retailers that sell essential goods, the world’s most prominent companies are all technology firms or exist because of the internet.
Despite Amazon dominating the e-commerce sector and being the one-stop shop for all things retail, its existence and rise simply would have never been possible without the internet. Microsoft, Google and Apple are technology companies that have changed the face of modern society as we know it. If we’re looking at specific industries that have witnessed the most considerable change, you could make a strong case that the gambling industry’s landscape has changed so significantly that it is ultimately an entirely different type of business altogether.
US Sports Betting – A Market Profile
The technology companies that have transformed the world almost exclusively operate from the West Coast of the United States. Other technology companies that have generated hundreds of billions of dollars’ worth of profit include the US-owned Meta and Nvidia. Sports gambling and different types of betting have experienced monstrous growth because many of these companies directly or indirectly allow gambling companies to advertise their services on their platform. As a result, it shouldn’t be too shocking that US sports betting pioneers operate as part of the world’s most powerful economy and are world-leading in their innovations and designs.
Although sports betting markets in the US correlate heavily with the popularity of specific sports, you won’t be found wanting for your chosen market, even if you’re looking for niche, professional sports. While it might not be as easy to find these markets, companies such as Bet365 and DraftKings have extensive sports betting selections, so you can find a market for almost any professional sport, regardless of the country where it takes place.
Prominent sports betting markets are fairly predictable in US sports, with basketball, football, baseball and hockey making up the top bracket of the market and sports like UFC and golf in a tier below. Perhaps more intriguingly, the development of technology has grown all of these sports betting markets into globally leading ancillary markets for sports bettors to enjoy as they watch a live sports game unfold in real-time.
Mobile Devices and the Internet
The technological wizardry we see on sports betting apps today wouldn’t have been possible without the big bang of the internet; the whole market would cease to exist. We’re still seeing the effects today, and coupled with smartphones, they’re the two most staggering and game-changing pieces of technology perhaps ever invented.
The two go hand-in-hand, and while they bring their own ingenuity to the table, smartphone internet capability has been another building block that has provided the foundation for many betting companies to hone their mobile apps and websites while developing world-leading gambling sportsbook services. By bringing together the two worlds, gambling companies noticed that there was a once-in-a-generation opportunity to expand their business and propel the entire industry into one of the fastest-growing and most profitable on Earth.
The Relationship Between Modern Technology and Internet Connectivity
Many of these companies have benefited due to the changing international landscape. Many sports betting companies are in a prime position to enter the relatively new US sports betting market. As the walls come down in many states that have had strict regulations that stopped the gambling market from gathering momentum, these companies, some of which have existed in other countries for 20 years, can transition into the most profitable market in the world seamlessly.
The internet acts as a fascinating and secure foundation for many businesses. The truth is that there would be hundreds of sectors that wouldn’t exist, and our lives would be completely different. Whether it’s sports betting, connecting your Ring doorbell to the internet, accessing a GPS map when looking for directions or ordering your groceries, the internet has changed the world forever. If we’re looking at sports betting in the US, the significant changes that have taken place thanks to technology would never have happened if the internet hadn’t built the foundation in the first place.
In-Play Markets
Although in-play markets wouldn’t exist without mobile phone technology and the incredible interconnectivity the internet now provides us, the in-play market has changed the face of US sports betting forever. Instead of simply placing a sports bet and waiting for it to play out, you can now cash in midway through the game and even watch along, depending on the sport you have placed your wager on.
The reason this technology has changed the US sports betting markets so profoundly is the flexibility it provides bettors. You no longer need to wait for the selection or selections to play out; you can make an instant decision. Although the cash out will be less than the total amount you’d get if you hang on, it can quickly go the other way; in that case, the cash out is a smart move. The mere existence of in-play markets and the technology behind them has significantly altered sports betting.
Convenience is Key
Ultimately, any invention that enhances convenience for customers will drive a lot of the behavior within the sector. As bettors find easier ways to place their sports bets, technology companies and sportsbooks work tirelessly and in unison to bring the most convenient package to your fingertips.
Technology companies, game developers and sportsbooks all work towards the same target and have convenience as the number one priority. Once they establish a new invention or a fresh piece of technology that can enhance the experience, the whole paradigm of the industry shifts.
As with many other businesses, the goal is not to play catchup, which is why so many sports betting companies are constantly looking towards future technology to transform their business. The bottom line for sports betting companies is how many customers they can bring in. If you provide the most convenient service using the latest, cutting-edge tech, then this is a prime position to be in and will clearly separate them from the competition.
Final Thoughts
The internet and mobile phone technology are the two significant components that have resulted in monumental changes to the landscape of sports betting in the US. It’s not a simple A to B route though. Due to the relentlessness and ferocity of the competition, technology is innovating at lightning speed.
Within the space of just a few months, new technology can emerge that makes the previous innovation redundant. This leads to more sports betting companies generating more competition between each other. Given that the US is the most prominent economy on the planet and has the potential to generate hundreds of billions of dollars in profit for sports betting companies, technology is integral. It will continue to play a vital role in developing these markets. So long as the world continues moving toward a more mobile-dependent society, the overall influence of technology in sports betting will continue to escalate.
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