Ever since the internet became mainstream, online sports betting has exploded. It’s so easy to place a wager nowadays that many people prefer to do so on the web and not spend their time at land-based bookmakers and sportsbooks.
Let’s take a look at the key features that changed the industry forever and are behind the success of online betting.
Mobile Betting
The rapid rise of mobile phones and tablets that started more than a decade ago was one of the best things that happened to the sports betting industry. All online bookmakers created their own mobile version and customers can now place a bet at any given moment.
It’s easy and convenient. That wasn’t always the case as the early mobile versions of all betting sites were hard to develop and not very user-friendly.
The arrival of HTML5 changed the whole industry. The platform can be used to create mobile-responsive websites instead of working on a native version from scratch. That saves a ton of time and money.
Most sports betting sites took full advantage and you can now use their services on all popular platforms such as iOS, Android, Windows Phone, and more.
E-Wallets and Crypto Payments
In the early days of sports betting online, you had to use credit cards or wire transfers to fund your account or withdraw your money. Even cashing out from online sportsbooks with fast payouts would take a week, at least.
That wasn’t exactly ideal but the rise of payment options like PayPal, Skrill, and Neteller was a true game-changer. You can use e-wallets to receive your money almost instantly nowadays.
The same can be said about cryptocurrencies like Bitcoin and Ethereum that arrived on the scene several years ago. Many bookmakers implemented the digital assets and the users enjoy quick transactions and low fees.
Live Betting
The ability to bet on a sporting event while it’s running is beloved by millions. You can take advantage of your skills while watching any random gaeven more fun by putting money on the line.
You can go to the pub or invite some friends at home to watch your favorite team and place a wager at the same time.
Live Streaming
Some of the best betting sites out there allow their customers to watch various sports from all over the globe live. The NBA, the NHL, big tennis tournaments, the Spanish La Liga, and other popular competitions are just a fraction of what you can enjoy.
The feature is usually free and the only condition is that you have money in your account or you have placed a wager in the past 24 hours. You can watch the games on all kinds of devices too, including tablets and phones.
Cash Outs and Bet Builders
Most of the features so far improve the experience and add value by saving time or offering various conveniences. The latest wave of innovations includes options that can bring a lot of money to experienced bettors.
The Cash Out feature has been around for several years and most people love it. It allows you to settle your wager before the event is finished. That provides more control over your bets and you can reduce the impact of luck and late drama.
Of course, it comes at a price, so you shouldn’t use Cash Out too often or it will eat a big chunk of your profits.
The other option that has changed the industry is called Bet Builder. As the name suggests, you can create custom betting markets using it. You can combine different props and betting options until you are satisfied and the betting site will give you a price.
The sophisticated players can make a lot of money using Bet Builders, as it offers a unique way to monetize your knowledge in a certain sport and league.