5G Technology Expected to Boost Live Sports Betting in the US
Considering the fact that it will make live wagers extremely easy to place for the punters, 5G wireless technology is expected to have a major positive impact on the sports betting market of the US.
With many states having already legalized mobile sports betting, and others in the process to do so, wireless carriers will be soon rolling out 5G technology in select cities of the country.
This move is expected to improve betting activity inside basketball arenas and football stadiums, owing to faster service than before.
5G technology enables connectivity of more number of devices at the same time and promises to bring down latency.
This will keep the sports fans glued to their devices, for instance, top soccer betting sites, etc., encouraging them to bet more.
People outside of the stadiums will also be able to place easy mobile bets while streaming live games on their devices.
Expected to open plenty of revenue opportunities
People wonder if the same thing can be pulled off on a 4G device. The answer to that is perhaps it can be, but 5G technology makes it for sure.
The Chief Executive of the New Jersey Economic Development Authority, Tim Sullivan, recently provided an affirmation of this fact while speaking with the Wall Street Journal some time ago.
The coming together of mobile sports betting and 5G technology will also open up plenty of revenue opportunities for the telecommunication firms, gambling companies, and sports leagues across the country.
For instance, boosting the present-day fantasy sports leagues through 5G-enabled online betting will make people spend more money and time on these sports.
Some of the companies which are planning to make the most of this latest technology include Verizon Communications, the owners of Yahoo! Sports.
In October 2019, the media unit of Verizon got into a partnership with MGM Resorts International, creating a linkup between the BetMGM platform and the Yahoo!
Sports app, enabling smooth sports betting.
MGM’s President of Interactive Gaming, Scott Butera said in an interview that live-sports content and fantasy sports go hand in hand.
Selecting a specific player in a fantasy league will make it more likely for a person to place a live wager on the same player during the games.
Additionally, quicker 5G service will facilitate better connectivity between sensors inside the stadiums too, resulting in lower latency and more live-betting opportunities.
AT&T too planning to take the plunge
AT&T is also planning to venture into sports betting.
Bleacher Report, a sports news website which is an integral part of Warner Media-owned by AT&T, got into a partnership with Caesars Entertainment some time ago, for the production of content (including videos) related to sports betting.
Talking to the press, AT&T’s chief executive, Randall Stephenson informed that the company doesn’t want to be running books, but understands that gambling is an integral part of the business they are in.
They understand that nothing brings in more fan engagement than having something directly related to the game.
However, the reality is that successfully fusing mobile sports betting with 5G technology will still take considerable time in the US.
It will probably take many years before this technology is made available in every part of the country.