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 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.
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.