iGaming and mobile sports betting have become increasingly popular with the introduction of immersive technologies such as Artificial Intelligence and Augmented Reality. AI and AR are letting gamblers bet on their favorite sports, such as Cricket, Football, Rugby, Ice Hockey, etc., from the comfort of their home.
However, this entertainment has widely taken the shape of problem gambling. Youngsters and adults love the sporting events organized with the help of interactive technologies like AI and AR, as you can play micro sports and in-play betting. Online sports betting is already generating millions in revenue globally, but the Asian-Pacific market is witnessing betting on the growth. The sports betting market in Asia-Pacific will increase in revenue to 118,393.74 million by 2030. It may seem good as a contribution to the economy, but the government is still concerned about the problem of gambling among citizens.
Let us walk you through the detrimental effects of these advanced technologies on online sports betting in Singapore.
Do AI and AR Give Rise To Problem Gambling?
Online sports betting is the most lucrative form of betting on games. You can bet via reputed online casino in Singapore platforms such as Maxim88. Professional casino platforms encourage responsible and fair play gambling. They practice exclusion for the gamblers, too. However, this is not the case with every casino. Therefore, these electronic slot games and other betting games are known as the crack cocaine of gambling. They place bets every 2.5 seconds and provide an interactive experience to the players.
This increasing speed of betting is making players addicted to sports betting. With modern technologies like AR and AI, players can watch out for their results within a few minutes. There are umpteen features and betting options available for players nowadays, giving rise to problem gambling.
The versatile number of in-play betting, live betting, micro betting, and many other options hook gamblers to sports betting platforms. The speed at which the sports bet options are increasing is making the government and authorities consider banning sports betting.
Will The Curb On Sports Betting Help?
Well, sports betting is legal in Singapore if licensed operators organize it. But, the pace at which youngsters are getting into gambling is alarming. More than 44% of Singaporeans participate in gambling who are above the age of 18 years. Modern technology in sports betting is exploiting vulnerable players.
AI in the gambling industry is providing customized deals to punters. On the one hand, AI is making the gambling industry and its activities transparent, and on the other hand, the immersive feature is making gambling addictive. Moreover, AR has made sports betting platforms interactive, making real-time sports betting addictive for players.
With the introduction of both these technologies in the iGaming industry, sports bettors are now spending more time on betting. It is taking away their time and hard-earned money, too. This has made the government ban online sports betting if it is played by other than licensed operators. The bettor’s wins will be confiscated, players can get 6 months in jail, and a fine of S$10,000 can be levied if found betting illegally.
The curb may not help slow down the sports betting events rapidly but can help the government engage people in meaningful activities. Besides gambling, they can spend time on personal and professional things. Moreover, responsible gambling operators can encourage fair play gambling alongside self-exclusion.
Is Digital Evolution Worth In Sports Betting?
Sports betting, especially football, holds a special place among the gamblers in Singapore. With the digital landscape increasingly becoming popular, most bettors are moving to online betting. Further, the advent of AI and AR in sports betting has made things interactive and real for gamblers.
Now, you get enough options to bet and play the games. Well, digital evolution is great in the sports betting landscape in Singapore, but the more the modernization, the more players will be betting the higher amount. Live TV matches have also upgraded the online sports betting segment. You can bet on the winning team or individual player while watching the matches in progress.
The setting of sports odds higher while the match is in progress is also leading to addictive gambling. Bettors are engaged in sports betting in real-time, which is taking a chunk of their time and money. Overstaying in sports betting will lead to problematic gambling behavior.
Moreover, integrating AI and AR with mobile devices has also made online sports betting interactive and easily available. ‘Bet on the Move’ is a new propaganda many online betting platforms and sports bookmakers use to attract their potential audience.
The sports betting market has become quite competitive, where every sports betting platform lets players stand against each other. As players can bet against each other, communicate, and sometimes bully, it can lead other players to make decisions in haste and bet mindlessly. It leads to problematic gambling behavior, too. Emotional gambling is the outcome of increased betting that leads to monetary losses.
Can Responsible Gambling Safeguard The Interests Of Gamblers?
If modern innovations such as AI and AR attract players towards addictive gambling, they can positively impact bettors when used mindfully.
AI can devise personalized practices for the players to choose self-exclusion whenever necessary. It will prevent the players from placing bets even when they lose. Players can take a break from betting and put their heads into real-life activities.
The interactive AR technology can teach bettors when to stop gambling and take a break from sports betting. The gambling platforms can play an immersive lesson on responsible gambling to provide a better view of how to gamble without losing your hard-earned money and sanity.
Place a Bet On Your Favorite Sports At Reputed Maxim88!
Online sports betting has changed the way sports bettors place their bets. You can bet from anywhere at any moment. Sports betting, including AI and AR, has made things great for punters. The maximum welcome bonus, the sports betting cashback, etc., at Maxim88, and responsible gambling terms make it a chosen platform. You can bet on your favorite sports without worrying about security or legality.