As the years roll by and the stigma surrounding gambling falls fatter into the past, we’re beginning to see innovations that might revolutionize the way we view sports betting. More and more countries are beginning to lift heavy restrictions on wagering in both online and brick-and-mortar sportsbooks, allowing for exciting new features to be added to the betting experience. Punters can claim the VulkanBet bonus to access quality gambling services.
It is vital to examine the effects of budding technologies such as artificial intelligence and advanced data science because they just might change the sports betting world as we know it. Already, online sportsbooks are beginning to integrate futuristic technology into the betting process. Bookmakers now have access to real-time statistics regarding athletes, and players can place in-game bets as the game is happening live.
In this guide, we discuss how far sports betting in Canada has come and the amazing things we can look forward to in the future.
Background of Online Sports Betting
Sports betting is one of the oldest kinds of gambling in Canada. Betting on horse races has been popular since the 1800s, and in 1908, the Canadian government created the Pari-Mutuel Agency to regulate it. Later that century, in 1985, the government established the Canadian Lotteries Corporations, which regulated sports betting through the Pro-Line system. This system enabled people to bet on the outcome of entire sports events, not on single games.
Fast forward to the present day, and the legislature around sports betting has become much more permissive. In 2018, the Supreme Court finally lifted the ban on single-game wagering, allowing provinces and territories to create their own gambling regulatory bodies.
Today, if you’re above the legal age, you can bet on any single sports game you want from the comfort of your home. You can even place bets on mini-outcomes that occur within the game. All these bets can be placed before the game, or the whole match is ongoing.
The Role of Technological Advancement in the Future of Sports Betting
The future growth of sports betting is heavily reliant on advancements in technology. Some of the latest technological advancements are already in use in the realm of sports betting. For example, you can now place bets on virtual players and teams managed by AI and random number generators and regulated by an online sportsbook. A few ways technology could impact the future of sports betting include the following:
- Augmented Reality: Augmented reality is an exciting new technology that can revolutionize sports betting in several ways. It could create a more immersive experience for bettors by displaying real-time stats and other relevant information directly on top of live streams. It could also be used to develop hyper-realistic virtual stadiums in which players can watch sports events.
- Improved Data Analysis: For a long time now, there has been an abundance of useful data available regarding relevant sports trends, but the problem has always been the lack of adequate technology to crunch down this data and make sense of it. With the rapid rise of cutting-edge artificial intelligence technology, this available data can readily be digested by bookmakers and used to make better decisions and set better odds.
- Internet of Things (IoT): The internet of things refers to physical objects embedded with sensors, software and network connectivity that enable them to communicate with one another and share data with the internet. Wearables, such as smartwatches and bands, are an example of IoT. These devices can be used to collect data regarding physical attributes like agility and stamina of athletes, and this data can be used to create better odds and to help players make more informed predictions.
Other ways we could see technological advancement play out in the sports betting world include enhanced security through cryptocurrencies and blockchain and increased interactivity through 5G networks.
The Role of Online Sportsbooks
Licensed online sportsbooks, such as Vulkan Bet, are at the forefront of these advancements. Many already offer a variety of virtual sports with high-quality streaming services. As more and more countries are relaxing their restrictive sports betting laws, online sportsbooks have risen even higher in popularity worldwide because of how convenient and accessible they are.
Another reason more people are likely to use online sportsbooks in the future simply comes down to bonuses and promotions. Generous bonuses allow players to play and win real money without depositing a lot, helping encourage players to bet online. Since reputable online sportsbooks like VulkanBet also offer pretty much the same odds you’ll find in a physical sportsbook, many players see no reason to leave the comfort of their homes to wager on sports.
In summary, budding technological innovations give us a lot to look forward to in this sports betting industry. Wagering could be made even more exciting by things like augmented reality, AI, and virtual reality. Many experts believe that in the foreseeable future, sports betting can become just as easily accessible and as thrilling as slots. And with the increased availability of AI-processed data, who knows? It just might become easier to win when you wager on sports.