It’s just a fact that one of the biggest forms of entertainment in the 21st century has been online betting. With the rise of the internet, online betting has been spreading across the globe like a bushfire. Now check this out! In 2017, online sports betting revenue was approximated to be $11.91 billion. Now, just eight years later, 2024 closed with a revenue of around $45.43 billion, that’s around 4 times. The growth does not stop there. Statista projects the revenue to grow at a CAGR of 6.33% between 2025 and 2029 to reach $65.14 billion.
Now, if you are as curious as some people are, you’d really be wondering why this whole growth is happening. Now, one of the main answers you are going to get here is simple, technology! Technological advancements have been taking over every aspect of the globe. Now, betting sites are all over and are being advanced frequently. Now, this article will be looking at some technological developments that have been going on in the sports betting world that are making this industry blow.
Mobile Integration
The use of mobile phones is one thing that has really brought life to the sports betting scene. You see, a good percentage of people around the globe use smartphones for their daily use. Now check this out! Statistics show that there are approximately 4.88 billion users of smartphones globally and around 7.21 billion smartphones. Another recent study has shown that approximately 132 million Americans spend between five and six hours on their phones. All these numbers just show how much phones are in the lives of people.
Now, when the betting industry saw that most people are on their phones, they decided to capitalize on the situation. Right now, almost all sportsbooks have their betting platform optimized for mobile phones. If not a betting app, then the website is optimized and easy to maneuver using a smartphone.
Mobile phones have pushed the industry forward, considering the fact that right now, most people are able to access gaming sites. Unlike earlier where most sites were only workable through computers and tablets, which are not easily affordable by everyone, right now, anyone with a smartphone, regardless of the quality, can access a betting site.
The Rise Of In-Play Betting
In-game betting has completely changed the world of betting. Actually a recent report by TGM Global submits that 67% of respondents claimed to prefer wagering on games when they are still in play. Well, the appeal of in-play wagering comes from the dynamic nature of sports, where things change within a split second.
Let’s take the Premier League, for example. On February 2, 2025, the game between Manchester United and Crystal Palace ended in a 0-2 win for Crystal Palace. Now, considering Man United were in their home grounds, Old Trafford, the greatest odds were on them winning. Actually, there were higher odds for the game ending in a draw than Crystal Palace winning. However, the game ended as it did, and those who had bet on Man United lost. If it was the traditional pre-event gaming only, then it could have been disastrous for punters.
Now check this out. For in-game betting, sportsbooks present odds based on how the game is fairing. So, you might have lost your bet for your favorite team winning but make many wins during the game because of how well or terribly the players are doing. Gambling platforms are using real-time data more and more to offer dynamic odds. This feature enhances user engagement, therefore leading to higher betting volumes, especially during high-stake events like finals.
Esports Betting
A major trend that has taken the world with a bang is the rise of esports. Imagine people sitting in front of a streaming platform or in a hall just to see people playing video games. Now, since people love thrill, the betting experience has come to increase it even further. You can now bet on your favorite players in your favorite video games.
There are many esports games that players can get involved in. These include:
- League of Legends
- Dota 2
- CSGO
- Valorant
- Overwatch
- House of Storm
- StartCraft II
These among others have added dynamism in the world of betting. You can either bet on a single player or on teams. The good thing about esports is that they have a massive following around the world. That increases the competitiveness of odds making the experience even more engaging and thrilling.
According to Statista, the revenue for the global esports market is expected to reach $2.8 billion by the end of 2025. The same report also projects a CAGR of 5.43% between 2025 and 2029 to reach $3.5 billion.
Final word
Well, it is true that the betting market has been growing at a tremendous rate and there is nothing to show that it will stop soon. Actually, because of technology, you can be sure that as we enter the next decade (2030), this market might be so massive and really advanced. The future is bright and the wheels have already been set to motion.
