Top 5 Sports Betting Tech Trends in 2023

The betting industry is constantly in flux, with a continual cycle of innovation changing the way punters bet on sports every year. With 2022 drawing to a close, experts are already looking toward 2023 in anticipation of a wave of new, exciting tech in the works.

Early estimates suggest that the betting industry will see a massive jump in value next year thanks to expanding markets and the birth of new technology. The list of sports betting sites on offer also continues to grow rapidly, and 2023 already promises to be the most lucrative year yet for companies in the betting game.

To whet your appetite for next year, we’ve taken a closer look at the top sports betting tech trends you can expect to see in 2023.

Virtual sports to climbing in popularity

Over the past 12 months, many high-profile online bookmakers have pivoted more towards virtual sports, and the increase in focus on these emerging markets has been notable. With virtual sports, betting sites can offer punters more choices, often negating the need for traditional real-life events.

The introduction and application of new tech to virtual sports have already powered a massive rise in popularity. That pattern should continue in 2023 as bookmakers step on the gas in this area.

New payment options

The way people spend their money online is constantly evolving, and cryptocurrency, particularly, has become more and more commonly used to fund accounts with betting sites. 

Betting with crypto used to be an option on just a few fringe operators, though it has become more stream over the past year, big-hitting names like PowerPlay now accepting cryptocurrency as a payment option. Make sure to check out this detailed PowerPlay review to learn more about their other depositing choices.

Crypto tech should start to surface among most mainstream bookmakers in 2023.

Links between social media and betting set to strengthen

Social media is a powerful vehicle for just about every sector you can name, though the betting industry has yet to utilise it as a resource fully. While some operators have built strong betting communities using aspects of social media, many leading bookmakers need to catch up.

In 2023, integrating new tech should allow social media and sports betting to marry better, opening up substantial new opportunities for both platforms.

Enhanced mobile applications

Mobile betting is fast becoming a more popular way to bet than traditional desktop means. With younger generations more glued to their devices than their predecessors, bookmakers will have to fine-tune their tech to cope with the increase in demand.

While most bookies worth their salt already have dedicated betting apps, mobile betting is overdue for its next technological leap. In 2023, we should see a new collection of mobile betting widgets to enhance the whole experience of punting on the move.

Many top sport-related apps already feature heavily on Google Play and the Apple Store’s list of most popular downloads, though betting applications could dominate those rankings even more in 2023.

Virtual reality to enter the industry?

It might still seem a little space-age to some, however, Virtual reality (VR) tech has slowly been seeping its way into most entertainment industries, and online gambling could be its next target in 2023.

With VR, users are offered a more immersive experience and it has the potential to add a fresh dimension to betting on sports. Some Virtual Reality casinos for instance, already exist, though the tech has yet to fulfil its sky-high potential.

At present, virtual sports betting seems like the best fit for VR, though really, the range of its possible applications is as wide as your imagination can stretch.