Australia boasts a vibrant sports culture which sits neatly alongside a deep-seated passion for engaging in sports betting.

This tradition has only intensified with the advent of online platforms, making sports wagering more accessible and convenient than ever before.

The proliferation of smartphones and the widespread use of mobile betting apps have played a pivotal role in amplifying the enthusiasm of Australians for betting on their cherished sports events.

Here are some of the key sports betting technology trends that could be worth keeping an eye on in Australia over the next few years.

Fintech

In the early days of online sports betting in Australia, people mainly used debit cards and bank transfers to handle their transactions.

Financial technology (fintech) has disrupted the scene, making payments faster, safer and more creative. Another exciting trend is the rise of cryptocurrency betting.

Cryptocurrencies such as Bitcoin are gaining popularity because they make transactions faster, come with lower fees and provide more privacy.

Apart from cryptocurrencies, fintech companies are developing blockchain-powered betting platforms that promise transparency, fairness and enhanced user experiences.

Bettors in Australia will be able to place bets using smart contracts that automatically execute pay-outs without intermediaries.

Virtual Reality

Virtual reality (VR) technology is set to shake up the world of sports betting by taking bettors right into the heart of the action.

Tennis bettors will be able to watch the Australian Open from a virtual courtside seat, placing bets on serves and volleys in real-time, or socialising with friends in a virtual sports bar.

Companies such as VR Sport and Live Nation are working on creating these virtual experiences for sports betting. While these developments are still new, the potential for VR in the Australian betting landscape is huge.

It could usher in younger audiences looking for more interactive and immersive experiences, while boosting engagement and creating new revenue streams for betting companies.

As VR technology improves and becomes more affordable, we expect more Aussie punters to put on their headsets and dive into the virtual world of sports betting this year.

Horse Racing Betting Apps

A significant subset of the betting industry in Australia revolves around horse racing. Dedicated apps for this sport, including the best horse racing betting apps, have witnessed notable improvements in functionality.

Leading horse racing betting apps now offer live streaming of races, allowing punters to watch the action unfold in real time.

This feature enhances the betting experience, enabling users to follow their selected horses closely and make more informed decisions during the race.

Enhanced functionality also includes detailed form guides within horse racing apps, allowing punters access to comprehensive information about each horse’s past performances, jockey statistics and track records.

This data empowers users to make educated selections, contributing to more strategic and thoughtful betting choices.

Modern horse racing betting apps come equipped with customisable notification settings. Punters can receive alerts for upcoming races, changes in odds or even when their favoured horses are about to compete.

This personalised approach ensures that users stay informed and never miss a betting opportunity.

Furthermore, to provide greater control over bets, many horse racing betting apps now incorporate cash-out options.

Punters can choose to cash out their bets before the race concludes, mitigating potential losses or securing profits based on the unfolding events.

eSports

While cricket, horse racing and rugby league have long been the darlings of Australian sports, a new player is emerging in the betting arena – eSports.

Competitive video games such as League of Legends and Counter-Strike: Global Offensive are captivating the attention of Australian bettors, thanks to the surge in professional eSports leagues.

The younger generation, who are well-versed in the world of eSports, are bringing a fresh perspective to the betting landscape.

The allure of eSports lies in its unique betting opportunities, setting it apart from traditional sports.

The dynamic and fast-paced nature of video games introduces a level of unpredictability that adds excitement to the betting experience.

eSports allows for live betting on in-game events and individual player performances, offering a whole new dimension to the world of wagering.

Recognising the growing demand for eSports betting, major gambling operators are set to expand their offerings in 2024.

These bookmakers are expected to introduce dedicated esports tournaments and promotions, catering specifically to the burgeoning community of eSports bettors.

The move aims to capture the attention of a new generation of bettors who are drawn to the digital world of competitive gaming.