Horse racing and betting are two things that cannot be split apart. Horse racing needs betting in order to make the sport even more exciting, and betting needs a sport like horse racing with incredible odds and unpredictable events.
But when we talk about horse racing betting, most people think of the age-old betting system. But just like horse racing advanced as a sport, the betting part also went through a major overhaul.
Over the last couple of years, we’ve seen many technological advancements that made horse racing betting more available for a wider audience and safer, and they included more options and new betting opportunities that weren’t possible in the past.
Nowadays, we have an advanced betting system that incorporates the power of AI and focuses on user entertainment.
This got us wondering what the biggest innovations in the world of online horse racing betting are.
Let’s find out.
Mobile Betting Apps
Due to all the technological advancements, the world has changed forever. We are now smartphone-focused more than ever before, and there is a good reason for that. If we go back a decade ago, smartphones were good, but they weren’t even close to the capabilities modern-day smartphones have.
That’s why today, we use our smartphones for everything. Betting platforms quickly realized this change and started developing mobile betting apps.
Nowadays, there are plenty of niche-themed horse racing betting apps that offer wagers, like the horse racing best bets by TwinSpires. These don’t just give you the options to place bets but also give you race insights, analytics, and the latest news in order to make an informed decision.
Betting apps now have easy-to-use interfaces, and most importantly, they cover many horse races from the global scene.
Crypto Technology
One of the most recent advancements in the horse racing betting segment is the birth of betting platforms that allow people to place bets using cryptocurrencies like Bitcoin or Ethereum.
This new change completely revolutionized the world of horse racing betting.
Why?
Well, for a couple of reasons. First of all, crypto betting is much more secure than traditional betting. On top of that, cryptocurrencies are perfect for bypassing geo-restrictions which made horse racing betting more available to a wider audience. Lastly, crypto betting is anonymous, which is what most people like in the process.
AI Software Predictions
Another thing that we must address is the use of AI technology in horse racing betting. Ever since ChatGPT was introduced, the world has changed drastically. Nowadays, we have AI image-generative platforms, smart chatbots, and programs that help businesses automate their services or cut down on employee costs.
However, AI has also had a big impact on the horse racing betting market, particularly when it comes to analyzing data.
Horse racing has always been a sport where information can help you increase your winning chances. However, analyzing a huge chunk of data is almost impossible for the average human being.
This is where AI software comes in handy. They analyze big data that goes back hundreds of years and can look at multiple factors such as horse’s pace, race conditions, competition, and more in order to come up with a winning bet.
Of course, no software can be 100% accurate, at least not for a sport like horse racing, but AI betting systems have an accuracy that is slightly greater than an expert horse racing bettor.
New Wagering Options
With the introduction of betting apps, the horse racing betting industry also introduced new wagering options that will make the sport even more interesting. Horse racing isn’t only about Win/Place/Show bets anymore (even though they are still the most popular).
Innovative betting websites already introduced new wagering options like exchange betting, where you can play the role of both the bettor and the bookmaker.
There are also many other new wagering options that make the sport much more interesting.
Live Streaming and Real-Time Betting
Some horse racing betting apps also come with live streaming options. This is your ticket to the races, where you can see the action live from your phone.
But the fun doesn’t stop there. Some horse racing betting apps allow live betting on horse racing. This is a method where you can place a bet after the race has started. However, considering that horse races last a couple of minutes, you have to have a sharp mind, and quick fingers in order to make a choice really fast.
Final Words
Horse racing betting has advanced a lot throughout the years and will continue to do so in the future. After all, experts say that the horse racing betting market will reach a value close to $100 billion by 2032, which is more than double its current value.
All of these are thanks to technology that made horse racing betting more available, more flexible, and most importantly, more entertaining.
