Betting and technology may seem to go hand-in-hand now, but it wasn’t always like that. Heading off to the bookies was like a trip to the pub, where punters socialised together and had a quiet place to escape. Today, it seems we are more interested in the bonuses from this list of free bets and in-play betting.
Since the pandemic, bookies have been closing shops down relentlessly. They’re far less populated now, since all bets can simply be made from a mobile phone. Anywhere, anytime.
Online betting has been around for around two decades – long before the pandemic. But what really brought online betting to life was one of its unique selling points, something that physical bookies could not compete with, which was live in-play betting.
In-play betting is when the player can bet on a live event as it’s happening, with up-to-date odds. For example, if there is 20 minutes to go and Chelsea FC are trailing 1-0 behind, but you think they are putting a lot of pressure on the opponents, you can hop online and bet on an equaliser to happen before the final whistle.
This was born out of technology, which automates a feed of information and stats that not only helps keep the odds up-to-date, but will enforce a small waiting window, so that you cannot bet on a red car after a bad tackle has happened but before the referee has had a chance to show the card.
When betting inside a physical bookies, you’re always betting against the house. However, the technology behind online bookies has transformed our way of betting, in which we can bet against other bettors.
Matching bettors together who have opposing predictions gives a chance to lay a bet on certain sites. This means that if someone has bet on Arsenal to win on Saturday, you can bet that they will not. Of course, you could just bet on a draw or loss for Arsenal in a traditional bookies but it’s not as efficient as simply laying an Arsenal win. Plus, this means that it’s lucrative to pick out underdogs, as odds are swayed by popularity and demand for a certain bet. It’s a bit like the Forex market, where a small spread exists and liquidity is key.
Virtual Sports betting
Long gone are the days in which you have to only bet on real events. Most online bookmakers have virtual sports that you can bet on, such as virtual horse races, meaning that technology has increased the number of betting opportunities.
This was key during the pandemic, in which many sports events were suspended, but it’s also true generally, as the more choice for the customer, the better.
Finally, it’s worth mentioning that one of the biggest reasons behind the success of online betting is from the promotions offered. Free bets, matching deposits, boosted odds, and many other bonuses are offered to both new and existing customers online. It’s easy to switch to a competitor that has preferable offers, unlike sticking to the one bookmakers in your village.