Fans Cheer for their Favored Team- (CC BY-ND 2.0) by Sweeter Alternative
In less than a decade, live betting has grown from a novelty feature into one of the most popular ways to wager. Nearly three-quarters of all bets are now placed in play and bookmakers are constantly striving to stay ahead of the competition in the marketplace.
For bettors, this means more choice, more features and better service. The modern punter is more likely to bet in real-time while watching an event, than place a fixed odds bet and wait for the outcome. So when choosing a betting website, they are drawn to those that offer the best and most accessible range of live betting options.
Offering a live betting service with a broad range of markets is a significant challenge for any bookie. During a sporting event such as a football match, prices need to be updated tens of thousands of times as the action unfolds. This process has to be repeated across thousands of events in multiple sports every week.
To complement any live betting service, live streaming, real-time stats and match tracking services must also be offered across a range of devices including mobile phones and tablets. All this technology requires enormous investment, expensive upkeep and constant improvements.
As the technology speeds up, live betting can be offered over more intensive time periods enabling markets to be offered on singular occurrences such as a serve in tennis or the throw of a dart.
Fast markets allow bettors to predict what might happen in the next minute or five minutes of an event. For example, whether a corner, free-kick or throw-in will be won, or a goal will be scored in a football match.
Players can track the action on the web page via the match tracker system which displays real-time action from games in leagues all over the world.
“Berdych serving” (CC BY 2.0) by romanboed
Closer integration of gaming suites
This need for instant action is unsurprising in the fast-moving world we live in. Many bookmakers’ websites include other gaming services such as slots and casinos where gambling provides almost instant results. The relationship between these different gaming suites is set to move even closer as points and rewards earned through wagering can be exchanged for spins of bets in other areas. The link between video games and betting has also be strengthened with the rise in popularity of eSports and their addition to the betting markets.
As more markets become available, technology will enable bookmakers to tailor experiences to suit individual players; creating bespoke alerts, promotions and reward programs that integrate a user’s favourite bets, games and markets.
New technology will also allow punters to add selections to bets that are already active. This means they will be able to turn a double into a treble after the bet has already placed, but before it has been concluded. This is a natural extension of the cash-out feature that allows bets to be cashed out for a profit or loss before the result has been decided.
These are just a few of the technology-driven changes that can be expected as live betting continues its evolution.