Many industries have been affected by the technological revolution that has swept across the world over the last 30 years, as covered by https://www.ft.com/. But few have been transformed in the way that the betting industry has.
Two separate industries
Rewind back to the 1980s and the betting industry was a predominantly bricks-and-mortar industry split into two distinct camps. First, there was the sports betting industry, which mainly consisted of bookmakers' shops (particularly in the UK) and race-track betting terminals where bets could be placed on horse or greyhound races that were being held that day. The choice of markets was limited and bets could be only be placed by physically visiting the location, or by making a telephone call for those with a bookmaker's account.
The second sector was the casino gaming industry. This was viewed as completely separate from sports betting and was aimed at a different market. Casino’s were often seen as luxurious playgrounds for the rich and famous, although city centre locations aimed at the general public were also popular. The other gaming options were slot machines that were usually located in pubs and clubs, and bingo; which was seen as a popular pastime for pensioners.
Fast forward to today and a vast number of gaming options can be found side-by-side on websites such as https://casino.betfair.com/. Bookmakers and casino operators moved online and eventually merged their services to provide complete gambling suites. Bettors can now open a single account and get access to casino games, online slots, sports betting, horse race betting, and bingo - amongst other things.
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More choice than ever
As well as bringing these different areas together, technology has increased the number of markets and games that can be offered. Sports bettors can now bet on hundreds of markets within a single event, and many more bets can be placed live during play. Punters can build their own bets and even act as the bookmaker themselves via betting exchanges.
Casino players have a huge choice of games online and can even play with live dealers who interact with the participants as if they were in a real casino. And most casino sites also feature hundreds of slot games based on every theme imaginable.
New technology prompts regulatory changes
All of this has been possible thanks to increased internet speeds, bespoke software platforms, and improvements in online safety and security. The arrivals of worldwide online payment systems have also helped online casinos and bookmakers to reach out to global audiences rather than cater solely to their local region. As a result, regulations have also changed, with more countries moving to adapt to the global popularity of online gaming.
One of the most significant changes occurred in 2018 when the US Supreme Court struck down the 1992 federal law that had outlawed commercial sports betting in the majority of states as reported by https://www.theguardian.com/law/. This opened the door to a sports betting industry that was estimated to be worth $150 billion a year and many states reacted by passing legislation to legalise sports betting.sonos sonos One (Gen 2) - Voice Controlled Smart Speaker with Amazon Alexa Built-in - Black read more