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How The Internet of Things (IoT) Could Impact The Sports Betting Industry | Altenar & Technology
“We have a deep need and desire to connect. Everything in the history of communication technology suggests we will take advantage of every opportunity to connect more richly and deeply. I see no evidence for a reversal of that trend.” — Peter Morville
Altenar, a sportsbook software provider, is taking the time to review and explore the technology industry and how its new and expanding creations could have potential benefits and usages within the sports betting industry that has harnessed and propelled technology in recent years.
As a provider of sportsbook solutions, Altenar has ample experience in a host of technologies from AI and machine learning to the use of cloud services. Down to the bare knuckles of technology both use internally and externally. Having garnered global recognition for its sportsbook solutions, customisation aspects and its customer service, Altenar is taking a look at how the Internet of Things (IoT) can benefit the betting industry, technology as a whole and any potential downsides to its expanding and growing technology.
So, let’s begin!
What is the Internet of Things (IoT)?
“As the Internet of things advances, the very notion of a clear dividing line between reality and virtual reality becomes blurred, sometimes in creative ways.” — Geoff Mulgan
The Internet of Things (IoT) is a network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, and connectivity where information and data can be sent through this system. IoT devices share the sensor data they collect by connecting to an IoT gateway or other edge device where data is either sent to the cloud to be analysed or analysed locally.
Under the assumption that automation can remove the need for human intervention; there is a host of these in the world today from self-driving cars to fitness-tracking watches and much, much more!
Though the question remains, what are the aims of the IoT?
- Improved Automation.
- Real-Time Data Collection.
- Increased Connectivity.
- Predictive Maintenance.
- Enhanced Customer Experience.
- Remote Monitoring and Control.
- Cost Savings.
- Improved Safety and Security.
As the world becomes ever-more automated and increasingly concerned with automating a host of jobs, actions and more, how can the Internet of Things (IoT) potentially benefit the world as it appears to be adopted more by the general public? Let’s take a look …
- Increased Efficiency: Automating processes and tasks.
- Improved Decision Making: Collecting and transmitting large data sets, bolstering real-time analysis and increasing informed decision-making.
- Predictive Maintenance: Monitoring performance and potentially reducing downtime and any costs associated.
- Enhanced Customer Experience: Better personalisation.
- Remote Monitoring and Control: Ability to access information from anywhere at any time on any device which improves communication between connected electronic devices.
As a sportsbook solutions provider that seamlessly creates increased brand identification and is always seeking out ways to increase the end-user experience, Altenar can see the potential benefits of the Internet of Things, even outside of the general sphere of day-to-day living.
So, what are the potential benefits of applying this broadly used technology to the sports betting industry?
How Can The Internet of Things (IoT) Benefit The Betting Industry?
“The Internet of Things is not a concept; it is a network, the true technology-enabled network of all networks.” — Edewede Oriwoh
As a sportsbook solutions provider, Altenar believes it’s apt to take a peek at how the IoT (Internet of Things) can help to further automate the sports betting industry, as more and more countries take the leap from retail betting to online sportsbook solutions.
So, what are some potential benefits?
Let’s take a look …
- Enhanced in-game betting: real-time data and odds from games.
- Improved safety & security: monitoring and detecting any malicious or suspicious betting activity.
- Increased customer engagement: offering increased levels of personalisation and customisation.
- Predictive Analytics: Turn data into insights and actions with AI and ML. This can be used to proactively provide customer service and build customer loyalty.
- Remote Betting: this experience could mean increased usage in certain countries that prefer online gaming to retail or are in the process of greater internet penetration.
You can discover more about Altenar and its use of technologies by contacting the award-winning team today, or by requesting a demo of Altenar’s sportsbook solution!
What Are The Potential Downsides To IoT? | Altenar & Technology
As the world of technology grows, so can the downside or negative effects of any given technological advancement. There is no good or bad technology, just how it is used, and making the conscious choice to have it enrich human life, from entertainment experiences to medical applications is a must!
So, what are the potential downsides to the Internet of Things (IoT)...
- Privacy Concerns.
- Security Risks.
- The complexity of integration.
- Interoperability Issues.
- Limited Battery Life.
- Reliance on Network Connectivity.
- Data storage.
Though there are some potential downsides, the potential benefits for IoT are inordinate, especially within the sports betting industry which could use its connectivity aims to further increase the entertainment value of the betting industry.
You can discover more about Altenar and its current technologies by contacting the team today, there you can find out which events and expos you can find the sportsbook solutions provider at in the coming year!
Start your sportsbook business the right way, with flexibility, with stability, with Altenar.