The Impact of Technology on Online Betting
The increasing investment in innovative technology will impact the online lottery landscape in unimaginable ways. And along with such an investment, the online lottery will be able to tap into new and increasing customer bases, fuelling the growth of the industry as a result. As Marino Robert Sussich advises that The more money is put into the development of technology in the industry, benefits will include an increased understanding of who their customers are and how they behave to changes and services provided to improve the user experience.
The increase in the popularity of the online lottery is not because it has been made more convenient to participate in but also because of an increase in the income capital and a growing interest. This means more people have a more disposable income to use on online gambling.
The ease of which current technology had an impact in proceedings can be found in how seamlessly cryptocurrency was able to be used on blockchain-based gambling platforms. This move saw an increase in the number of users making bets using cryptocurrency.
With more investment, vendors can now provide unique experiences for customers such as adopting Virtual Reality and Augmented Reality to survive their competition. The increase of gamification which is providing the same elements that users expect in game playing has also aided the growth of online betting such as the lottery.
However, the same fundamentals that have allowed for market penetration in developed nations are the stumbling blocks for further growth in developing nations. Issues such as government interference and not enough infrastructure for internet penetration which will allow more users to get on board.
But as online betting continues to grow, more and more people will sign up to participate in the online lottery which is easier than going to buy a ticket at the convenience store.