The Future Of Sports Betting
The Future of Entertainment: How Sports Betting Will Change the Game A look at the shifting landscape of sports media and what industry leaders need to know about consumer preferences. The Future of Betting leverages the latest technology, sports, and financial dynamics to create a community and liquid marketplace for betting. Our product will continue to be defined, owned, and operated by the users. We aim to bring the structure of the stock market to online sports betting and the service of a community to our platform. Jun 29, 2019 The future of sports gambling. AP Photo/John Locher, File. States, casinos, teams, and fans all hope to cash in on legal sports betting. Can they all be winners? Here's everything. Nov 17, 2020 The Future of Sports Betting November 17, 2020 By paulmbanks Leave a Comment Just the mention of sports can send people into a frenzy, then add in the idea of wearing on sports and there is a whole. The Future of Sports Betting - CES 2021 The American legalized sports betting business is expanding rapidly, propelled by legislative moves and significant advances in consumer-facing technologies. Experts will discuss this fast-changing, multi-billion-dollar industry. Jan 5-8, 2022Las Vegas, NV.
The future oflegal sports betting is bright – and mobile – in spite of society’s struggles, according to Daniel Kustelski, CEO and co-founder Chalkline Sports.
US betting and gaming will re-surface from the current COVID-19 crisis stronger than ever, and with a ‘hard shift’ towards mobile and online betting, according to Kustelski.
The industry faces an unprecedented challenge. Land-based casinos are closed and the country’s nascent online sportsbooks are betting on emergency rations, having been starved of live sports.
And yet Kustelski is backing his fellow operators and suppliers to weather the storm and use it to their advantage when it comes to betting legislation progress.
Changes for the legal betting industry
Kustelski also believes it will power a renewed drive towards online and mobile-based wagering which will have far-reaching implications for all concerned.
He said: “I know that we are in for some rough days ahead, but we will emerge stronger than before. I believe that there will be a material change to the gaming industry, with a hard shift to towards online and mobile.
“With much of our team having come from a land-based casino group, we’re acutely aware of the challenges that lay ahead. But I’d suggest that online and mobile options will be table stakes for any gaming bill in any state that has not yet regulated, and states with regulated gaming options will face pressure to open up mobile quickly.
Vegas Future Odds
“There will undoubtedly be small delays in legislative sessions, but overall, this will drive the industry forward. States will need revenues, the industry can provide jobs, and sports fans are going to find ways to engage with their favorite sports, teams and players.”
Chalkline Sports offers mobile and personalized live-odds competitions that engage sports bettors of all experience levels. In the absence of most live sports in recent weeks, they have run a series of free play games, including horse racing, Tom Brady’s free agency, and NBA 2K Players’ tournament.
Kustelski, who was general manager of sports betting at Sun International in South Africa before joining WatchandWager.com as chief operations officer, is now set to speak at the forthcoming ICE North America Digital, which takes place virtually on May 11-15.
Connecting with customers
He is also convinced that now is not the time for operators to quit their marketing efforts, despite sensitivities around the impact of the global pandemic.
He said: “The opportunity for you and your customers is different from what it was even one month ago, but sports fans crave distractions now more than ever, and when you work in sports betting, your job is to provide people with the engagement they love.
“We’ve always loved the Jeff Bezos quote about engaging with the end user: ‘The most important single thing is to focus obsessively on the customer. Companies that have built a strong and authentic relationship with customers will find ways to communicate with them.
“Today is your company’s opportunity to tap into the seeds you’ve planted in the past and have an authentic conversation with your customers, even in the worst times.”
Kustelski believes those times will be made a whole lot better with the help of one of the industry’s leading bodies. He added: “One thing cannot be overstated: the strength of the American Gaming Association, and what they can do to help the industry. From the days of Frank Fahrenkopf and Jim Murren, to Tim Wilmott, Trevor Croker and Bill Miller — the AGA will get us back on track.”
For more information on ICE North America and to register for free, click here.
According to Bloomberg, the May 2018 Supreme Court decision opened up a sports betting market that could be as huge as $4 billion. As more and more states move forward with legislation to adopt legalized betting, the opportunities to tap into this enormous market are exploding, creating a new gold rush for all kinds of new businesses.
As we move into the future and the stigma of wagering drops away, we’re sure to see exciting new developments that change the way we consume sports, how we bet, and the ways we experience games. From new technology and media companies to brick-and-mortar retail partnerships, many of these thrilling—and in some cases, mind-blowing—innovations are already well underway. While it’s impossible to guess at all of the ways this burgeoning industry will change our lives, this blog will focus on just a few of the most exciting innovations we’re seeing today.
The Future Of Sports Betting Against
The Rise of AI, Robots, and Cryptocurrencies
It goes without saying that huge advances in technology will power the future of sports betting, but there are some provocative and exciting new ways the industry could utilize existing technology to take online wagering to wild new places.
One of these is AI. Many experts believe that in the future, the best bettors won’t be human at all—they’ll be bots armed with vast quantities of data and specialized algorithms to inform their picks. Several of these kinds of apps are already available to customers today. Next steps forward could include bots using data from less likely sources, including microchips strategically placed in balls, helmets, and jerseys; stadium cameras that track players as they move across the field; and perhaps even athletes’ own biometric data (if such data eventually becomes legal to track during competition).
VR and cryptocurrency are also edging into the sports betting industry. While some of the major NBA teams are already using VR technology to put viewers (virtually) on the floor, sports betting companies could use the technology to let customers make microbets on shots from those spots. And with the added security of blockchain, cryptocurrency could become the payment of choice for online sports wagering, ushering in a new era of wider acceptance for Bitcoin and its competitors.
Exciting Mashups
With the coming destigmatization of sport betting, we’re sure to see the explosion of fun, new places to get a bite to eat, watch games, and easily place bets. When The Washington Post recently interviewed Ted Leonsis, owner of no fewer than seven professional sports teams, he was bullish on the idea of arenas becoming entertainment super-centers, high-tech sports books filled with TV screens, food and drink, and betting windows galore. He even envisions people casually stopping in on their lunch hours to enjoy the complete experience.
In fact, Leonsis’ vision is already being reflected in the partnership recently inked between Buffalo Wild Wings and MGM Resorts International, owner of BetMGM (that’s us!). This concept will roll out across the national chain in states where sports betting has been legalized, and diners would use MGM’s digital gaming platform, BetMGM, to place wagers while enjoying great food and custom sports book content on TVs throughout the restaurant. We’re sure to see more restaurant hybrids like this moving forward.
Get in on the Pre-Game with BetMGM
All of these innovations piquing your interest in the future of this exciting industry? Now’s the time to get in on the ground floor with a career at BetMGM. We’re seeking passionate sports enthusiasts to join our team. Created as a joint venture from industry leaders MGM Resorts International and Entain Holdings, one of the world’s largest sports-betting and gaming groups, we’re backed by the best and driving the future of sports betting in the US. Do you believe in hustling hard and always bringing your A-game? Come and be part of the Pride of Gaming history. Join us today.