For a very long time, the technology behind betting was very stagnant. When we first were allowed to go into bookmakers and stick on a bet, there was a closed market with little choice of how, where or on what we decided to bet. If you wanted to bet on something already in progress, too bad. If you expected the bookmakers to give you anything, well that’s too bad as well.
Bookmakers knew that, basically, they only had other high street shops to compete with and in small town and cities, they knew it was a big pain for you to find a different place to wager at. Finding a new bookmaker meant looking in the yellow pages, or driving around in hope, maybe asking a friend. This gave them no incentive to make things easier or better for their audience. Why risk losing money or giving a customer more of an edge if they would keep coming back.
However, as with many things, this all changed when the internet age became mainstream and people had more choice across many aspects of life. Suddenly companies were reinvigorated by the fact that they faced new competition. Local bookstores suddenly had Amazon to compete with, clothes shops had online retailers armed with the ability to slash prices and bookmakers, well, they suddenly had to deal with a whole slew of new companies armed with fresh web hosting technology, that forced their closed shop was suddenly open.
If you wanted to find a new casino, now it was a click of the mouse away. If you felt you weren’t getting good odds, if you thought there wasn’t enough keeping you there or if you could see new and exciting ways to bet online then suddenly you could just move to a new place. This meant regular casinos had to go online and do something in order to compete with the new boys. This brought a number of exciting changes and innovations to online betting, here are two of the most celebrated ones.
Suddenly, with the internet around, there were new ways for people to interact, be it over social media or using other techniques. In terms of betting, what this ability to interact with each other brought, is the ability to create betting exchanges. A number of companies began to offer these, like sports betting Matchbook exchange which allowed betting to become more like the stock market.
Prices changed and fluctuate depending on who was backing bets or who was betting against them happening. Now you had prices that were set more by a community than some corporate algorithm. This made it much easier to understand and see how and why prices were what they were, it revolutionized betting.
Another wonderful innovation that helped customers, if you have a bet on that is winning but worry it might be going south, you can now take an offer from the betting company to end it early and make sure your pocket at least some of the winnings. These innovations have given us as customers a degree of control which we should celebrate.