Published 1 year ago • 4 minute read

The Future of Sports Betting: Cryptocurrencies and AI

Recent decisions from the Supreme Court have labelled the sports betting market as large as $4 billion and counting. Due to the integration of cryptocurrencies as well as legislation adoptions, sportsbooks with bitcoin are flourishing more than ever. There are multiples of opportunities available, meaning this industry has yet to bring to light more developments that can allow new gold rushes for all kinds of businesses.

While sports betting was very much stigmatised all over the world, you will find that now, things have slowly started to drop away, to make way for these changes. People are much more open minded to gambling and consuming sports, the way we bet as a whole has evolved, even the way we experience gambling games in the industry. With new technologies, to new partnerships that innovate and challenge old foundations, cryptocurrency is one of the most exciting developments for this decade alone. It is about to get a whole lot better too…

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The rise of AI, and Blockchain

Blockchain is one of the biggest advancements in technology-that goes without saying. It has been projected to lead and power through sports betting for the future, due to how this technology can be utilised, when it comes to wagering. Not only does cryptocurrency give complete anonymity, it is a flawless system that operates maximum security for the advantage of the sports bettor. Blockchain allows customers gambling to make micro bets no matter how small, and still have the complete added security of blockchain. It has become the new era, and any sports betting operators not with the preferences and times of crypto, risk being left behind.

AI on the other hand will mean that bots are the face of the future when it comes to operating algorithms within gambling platforms. This allows for data to be transferred back and forth with utmost efficient processes. Hey, most sports nowadays have begun to rely on AI, due to the fact that it gives data accurately, without any degree of human error. It has become a huge strategic advantage for all data processing systems to utilise AI, as overall it is cleaner and gets the exact results needed in any case, when it comes to data handling. This does pose the ethical issues however, of how human workforces are slowly being replaced by faultless models, and there is nothing that can be said or done about it. Technological efficiency is preferred over workforces that operate with a percentage of human error. In the corporate driven world we live in now, it is always in most case scenarios, profit over everything else.

Exciting times ahead

The further digitalisation of sports betting can only mean one thing-even greater fun and efficiency. With this being the new optimum end goal for most platforms to run seamlessly on blockchain technology, many highly esteemed publishing platforms like the Washington Post, have mentioned how this can massively encourage gambling bases within restricted regions like the US, as each state operates on its own set laws and legislations. There are even possibilities of high-tech bookmakers being operated with optimum betting possibilities, due to the crypto hybrid intentions made by some of the biggest technology minds in the industry. The entertainment industry is keen to open crypto-betting relationships even further within the entertainment and food industry, through sponsorship deals to create more awareness towards the new innovation.

Where to next?

While sports betting has been around for over two decades on an online platform, cryptocurrency was first introduced a decade ago. In the past 5 years alone, we saw a huge surge in those that chose to invest in blockchain, as well as integrating their crypto possession within gambling possibilities. Gambling is yet to grow and expand, especially with the additions of AI emerging on the market, it is very apparent that there is so much more to be had from this technology, and the future is yet to reveal so much more. Cryptocurrency enthusiasts should be very enthusiastic about what is to come.



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