From Retail Betting to iGaming: An Endless Evolution
If there was ever an industry that bloomed even more during the COVID-19 pandemic, it has got to be sports betting, which has retail at its foundation. In fact, there was a significant increase in the number of people who placed bets online in the US alone. At the very beginning stages of the lockdowns, it became evident that operators had to meet the rising demand of online sports betting and retail betting. It also proved essential to provide omnichannel experiences for retail bettors, allowing them to enjoy the experience on multiple platforms. Bettors are, after all, the most important aspect of the business.
What are the Different Types of Sport Betting?
When it comes to sports betting, there are no shortage of options on the table. The classic fixed odds betting is most likely the first thing that you think of. Why? Well, because it’s the rockstar of sports betting due to its simplicity! But other than that, you have pari-mutuel betting, exchange betting, in-play or live betting, and so much more. At the end of the day, the type of betting a client chooses will depend on their preferences. What operators must focus on is making all types of sports betting, especially live sports betting available for bettors to choose from. That being said, this type of betting is still reigning the market by reeling in bettors on an unprecedented scale.
What is Retail Betting?
Betting in the retail sense of things is the act of engaging in wagering on different types of sports and matches in a physical retail location or its online version. While the name might sound new and modern, it is in fact an activity that we have been doing for many years, for example since ancient Greece. Just like any other phenomenon, it has evolved well beyond its traditional format and has entered the online sector, giving birth to the iGaming industry. Today, you can find online versions of sportsbooks, betshop, and casinos on almost every online gaming website.
Best Opportunities for Sports Betting Retail Clients
With technology rapidly advancing and new innovations being introduced, businesses might be asking themselves a recurring question:
How can you keep a sports retail betting client engaged in such an evolving industry?
Providing your clients with an omnichannel experience involving a multitude of markets might just be the key. We certainly cannot predict future pandemics or world-changing events, but ensuring that our clients have multiple betting opportunities to choose from in case of lockdowns will greatly aid in keeping the gaming sector active and ever-evolving. The iGaming industry has come forward as the ultimate solution, offering multiple options for sports betting retail clients who turn to the online experience.
Benefits of Retail Betting Clients
One of the main benefits of retail betting clients is that they are always eager to explore the industry further, especially after the latest developments in online gaming and betting. While this betting type can never be fully “translated” online, statistics show that sports betting on the web is becoming more and more popular with bettors. This eagerness presents operators with an opportunity to take the sports betting industry to the next level by offering bettors multiple omnichannel experiences spread across multiple markets. Technamin also provides operators with the chance to offer sports betting experiences on the online sphere.
Future Technologies and Retail Betting Clients
The question that remains is “what does the future hold for this industry and its clients?” And from the looks of it, we are headed in the right direction. In fact, the industry saw a 63% increase in the sphere. Technological advancements such as virtual and augmented reality are now adding more “realism” to the online counterpart of the traditional retail landscape and the addition of crypto currencies is changing how the industry approaches payments. These are all steps toward a future where things seem very exciting and promising at the same time! We at Technamin are right on track and always integrate the latest technologies with our products to offer unique solutions to operators on a global scale.
mont semi bold7