The future is tricky, you never know if new technology and trends are going to outdate your profitable business or enhance it. Betting shops were in the middle of this dilemma when the internet hit the world hard back in the early 2000´s.
The stock exchange was going online cutting away the phone brokers for what they began to call the retail market, people taking their own trades from home cutting away the middle man to take the trades for them. This might not sound like good business for broker salesman, but turned out to be huge business for broker firms that now charge for the spread on every trade taken online.
The betting industry came in next, with online casinos and something called the “Open Market” now renamed as “Betting Exchange” were bettors could take bets straight from their homes thanks to the internet and skip the walk to the shop. Back then the death of the bookmaker was announced, but now in 2017 it seems the bookmaker has decided to marry the online market for good.
From an Old and Dying Market to Rebirth as a Young and Fast Growing Industry
It wasn´t long ago when horse tracks gazed sadly at their typical crowd, men in their retirement taking small bets on a weekly basis. The horseracing industry was dying as an old and expensive sport with few young fans. Now the industry has sparked back to live thanks to wide spread media coverage but mostly thanks to the huge revenue input of online bettors.
Now racetracks like Ascot are looking to expand their participation outside of Europe and have taken active action to entice the markets in Latin America and Asia.
For those not familiar with Royal Ascot the racetrack is probably the most famous one in the UK and the world, founded by the Queen Ann back in the day and hosted by the Royalty every year right on the backyard of their living quarters. Queen Elizabeth herself is one of the most powerful horse owners and gets really exited every time she goes to the races. Did you miss betting on Ascot races ? Get 2016 Ascot racing results at William Hill to do some research for the next race. It is always advisable to look back on previous year’s festival before you bet.
To place a bet on Royal Ascot, all bettors require to download the mobile app and register an account with as little as $20USD. William Hill offers a huge first time deposit.
The Advantages of Electronic Exchange
Once a cash market has switched to pure electronic and instant transactions that favor marketers, regulators and the tax man. It has never before been easier to perform millions of dollars in transactions in less than an hour during multiple sporting events, all legal and crystal clear.
In 17 years the market has moved from phone based betting to 70% mobile betting. By taking raw numbers big data companies compile into computers from hundreds of different sport markets around the world, big betting houses now offer prices from 700 leagues in 100 countries. From the Premier League to the Vietnamese Third Division. Take into account the International Tennis Federation collects $70 million a year for data rights.
And even punters have become sophisticated by developing complex algorithms and arbitrage software like hedge-fund managers. Oddsmakers are now risk managers.
Behold the Future
Mobile betting takes 35% of the overall gambling market and growing, by 2020 it is expected to bypass 50%. Now days it’s all about allowing players to bet as freely and conveniently as they choose.
Virtual Reality is said to be the next big step of online gambling, William Hill has already developed its own virtual betting sports section. AI horses and football players contest during matches being offered every 5 minutes, the results are randomly driven by the odds set. The graphics are already breath taking without much complexity, but with the advent of powerful AI personas this industry will certainly be a driving force for a new generation.