Horse betting needs to embrace the future for it to continue to be sustainable to companies, as well as participants. In many countries, sports betting and betting on horse racing has become paramount to both individuals and the country’s economy. In a country such as the UK for instance, it is one of the biggest spectator and betting sports available.
From annual revenues of up to £40 million, the game has without a doubt, got a significant financial holding. However one needs to consider the future of this once spectator sport, and now an online entertainment that has players glued to screens and betting platforms for hours, winning multiple times in a row.
Over the years, the betting arenas have seen a remarkable turnaround, with revenue increasing steadily every year and more participants gaining interest in it either as a hobby or an extra means of income.
The Advancements of Technology and Innovation
Without a doubt, holding racing days and giving discounted prices has not had as big a difference anymore. The public, people are looking for a more comfortable and innovative experience in the 21st century. The answer? Digital technology.
Digital ticketing, for instance, has stepped up their game from the once traditional paper trails to everything being done online via the click of a button. Digital innovation is here to stay, so what better way to embrace it than in the betting arena where millions of people take fancy to winning millions every day?
Altering the Traditional To a Modern Practice
Taking into consideration the vast choice of digital technology we have nowadays, there is more of a selection of options not just for tech companies but also for gambling and online casinos, that offer sports betting, roulette, poker and video games all online.
The adaptation to AR or augmented reality has become forefront in numerous sectors, and the betting industries have also learnt to embrace the idea and found that it has exceeded expectations and users have been more fun around the new systems. Companies have found more engagement and attractive qualities with implementing AR especially for those looking for new audiences.
Sporting companies such as NASCAR for example are making this a large part of their customer offerings and now even horse racing is in for the ride, excuse the pun! This does not necessarily mean live horses are out of the game, quite the opposite. Live horses and horse races are placed in front of them, much like a formula 1 car on the track, via the use of a laptop, or smartphone.
Using headphones and data visualisation for a much more immersive experience, the spectator sport of horse betting has moved to a whole new level and if you’re not in for the ride, you will get left behind! AR filters are also used for engagement and you can compare past races to recent ones before you place your bets.
The Promise of Embracing Online Options
Embracing the things of the future can only mean one thing – tapping into a newer generation of modern players, while still cherishing the regulars and those who have succumbed to the traditional ways, however, these folk are happy to make the shift over to the new as well. Companies make it an easy option when it comes to betting online. It’s comfortable, easy to integrate into your smartphone, and you can watch the races in the comfort of your own home instead of going to the racecourse. This has acted as a catalyst for the sports industry and there is no way but forward.
What once started as a casual past-time sport in the 1600s has come a long way and there is still room for more. We cannot afford to ignore the direction traditional sports activities are going towards, i.e. towards the online and digital competencies. There are numerous reasons why companies should be considering this for their activities, some are mentioned below:
Better payouts. When gambling online it is easier to make multiple transactions at once, such as topping up or withdrawing. There is also the endless possibilities of attractive odds and a multitude of options that offer wagers, discounts, bonuses and perks for players because it is easier to offer these for organizations than it is when not having the digital enhancements.
It’s faster and more efficient. It is without a doubt much quicker to place bets and win online than it is on the racecourse. Many times you need to wait hours or days to take your winnings home, but with technology and online platforms, betting is quicker, payouts are faster and everyone’s happier. The bonus is you can search for information such as the breed of the horses or the jockey’s experience right in front of you at any time.
It becomes a global activity. Competition is never a bad thing in some spaces. Horse betting is one of those spaces that offer you more opportunities because more people can tap into it from anywhere in the world, which means the pool is bigger and so are the winnings. The more people that play the more your chances of winning. Not just that, but it opens doors for you to bet in other countries too. Within the confines of the laws of horse betting, you can be sitting in one city and watching a race in another, similar to if you were sitting in the UK and watching a race in America. You have more of a choice, and at the end of the day, isn’t that what everyone looks for?
The key takeaway is, both organisations and individuals will benefit more when moving things from the traditional to the digital and innovative and embracing greater chances of payouts and diversity alike.