Years ago, people in places like Greece and Rome would bet on battles in the Colosseum and chariot races. These were some of the earliest recorded moments. If you’ve seen the movie Gladiator (2000) loosely based on real-life events, you’ll notice a scene where a bookie takes bets. Since the coming of modern sports, new trends have begun shaping how we engage with sports video games and esports. Additionally, there is another simple reason behind the craze of sports betting: it’s fun.
New Trends Changing How We Engage in eSports
Once the internet was formed, it brought about additional major changes to the industry. Now, we can place wagers online which makes it more easily accessible to more people. This technological development also brought a new form of sport: gaming. As a result, it created more avenues for people looking to bet, especially as gaming became increasingly popular. Statistics show that over five years, Americans have spent over $220 billion on sports betting. So, let’s look at some emerging betting trends in gaming events.
New games, new thrills, new events
Live betting is when you place wagers on sports gaming events while they are happening in real time. This adds an element of excitement to betting which many find enjoyable. This concept is extremely popular when it comes to e-sports and fantasy leagues. Take the example of games like DOTA 2 or Counter-Strike. Fans can place live bets on teams as they are competing against each other. They can take advantage of the twists and turns in game dynamics and conditions to re-evaluate their bets.
According to a report by Statista, the e-sports betting market will climb to approximately 2.5 billion US dollars in 2024. One of the reasons for this may be that live betting is simply more thrilling and interactive. Seeing the event unfold before your eyes can also give you better odds. The US and the EU markets have already capitalized on the e-sports betting scene.
When we say ‘big data’, we mean the large, complex information sets that can be cleaned and inspected to uncover insights. This tech has found its way to the betting industry as well, particularly due to the amount of data gaming generates. The US and the EU markets have already capitalized on the e-sports betting scene. Asian and African countries are now beginning to follow suit as you can now bet on eSports in South Africa.
Working With Big Data
By using big data, we can analyze past gaming events and use them to predict future game results. When we inspect data from past performances and team statistics, data models can be created, which help us make future predictions. This trend has advantages for the average bettor. It relies on past data and not a gut feeling, which means more accurate predictions.
Cryptocurrency is a virtual currency widely accepted and used for all kinds of purposes worldwide. One of these is placing wagers. This is due to its ease of accessibility and security features.
Crypto is now more commonly used to place bets in mobile betting apps and online casinos. Dedicated blockchain wallets store virtual currency and allow users to conveniently hold and manage their assets.
Artificial Intelligence Trends
After OpenAI popularized ChatGPT, everyone rushed to take advantage of AI models. The betting industry is no stranger to this, as AI is being incorporated as an upcoming trend.
As the models evolve, we are likely to see interesting developments. Like big data models, AI can also analyze historic sports gaming events, but it has the potential to provide more in-depth results. AI also implements real-time analysis to give bettors improved odds.
Artificial intelligence can also be used to monitor and provide security. With several betting platforms out there, using an AI model to prevent fraud would give a sense of security to the betting fans of sports gaming events.
The masses have placed wagers on sports gaming events for many years. The concept has almost become an integral part of the event, with the event feeling incomplete without it for some. The trends in the sports gaming industry are always shifting, and new technological developments are consistently being made. The future of sports gaming events and betting trends is still undergoing major changes and it’s exciting to see what the possibilities will be.
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