The 5G network is slowly developing now all over the world. Analysts are already trying to predict how it will affect the Internet industry. The use of this technology is rapidly increasing, and different industries are finding the need to expand their production.
What is 5G?
5G is an abbreviation that stands for the next generation of mobile networks. A few years ago, the 4G network (known as LTE) was a sensation in the advertisements of mobile operators, but the increasing number of devices using the Internet made a new mobile network indispensable.
Why is 5G such a big deal?
The mass growth in new technologies has made it far more difficult for tech companies to provide their customers with the latest devices every day. Not only is the process of creating new up-to-date devices so hard, but it is to be repeated numerous times basically every month because of the introduction of new technologies.
The updates are everywhere. In theory, there could be a situation where you cannot connect to the PalmsBet online casino because your smart refrigerator has to download a new update and is blocking your network bandwidth.
Therefore, you need a new, faster network with more channels that allows more devices to connect simultaneously. The 5G network is to respond to these needs.
One of the industries that may be affected by the new speed of the Internet is the bookmaking industry. Mobile sports betting has gained enormous popularity all over the world. These online casinos allow you to bet on events from anywhere — even directly from the grandstand of the stadium.
Bookmakers will go even deeper into mobile technology
How can 5G affect the betting industry? Certainly by accelerating the flow of information and reducing the so-called latency. This will allow you to react even faster to changes in betting rates, for example. Your daily bets will thus be able to change not minute by minute but second by second.
In addition, the specificity of the 5G network means that mobile devices will have priority in accessing the network. For this reason, players connecting from phones will have some advantage over people who use computers.
It seems, therefore, that 5G sports betting will be more based on mobile applications. This, in its turn, will mean there would be a necessity of preparing such apps by bookmaker companies and cause additional costs for the customers, especially since the App Store and Google Play stores do not want these applications. This creates problems for users.
The need to adapt their services to the capabilities of the 5G network may mean that bookmakers will look for additional funds or partners who will incur at least part of the costs. These can be, for example, mobile networks or online casinos. There are already many examples of this type of cooperation.
The player will receive more information
On the other hand, from gamers’ perspective, increasing the network’s speed may have several advantages. First of all — better and faster access to information. Many players with weaker connectivity complain that they do not have access to the data they need and that they are informed about changes in the rate in live betting with a delay.
In the near future, it may not be surprising that a player connected directly to the weather station in the stadium will analyze its impact on the form of the playing teams.
Some analysts also predict that the development of the 5G network will affect the financial industry, forcing even faster payments. This, in turn, could also have an impact on players who will be encouraged to make larger deposits faster. Thus, the risk of unplanned, risky games will increase.
According to some experts, additional verification of safety procedures in bookmakers will also become necessary. Fair play and solvency are some of the things that players pay attention to, and they should definitely do.
One of the temptations with this type of news is to create functional websites or applications, even at the expense of security. Even in the banking industry, this is what users may be afraid of — new technologies.
Does 5G help or cause harm in the gambling industry?
In some countries, regulations apply regarding the gambling industry. An example is the gambling law, which decreased the budget revenues from the gambling industry. Sometimes online casinos are banned in practice, and bookmakers have to obtain a license and meet quite complicated requirements.
At the moment, most authorities are quite positive regarding gambling. However, it is difficult to say whether this approach will not change completely in the future, and the 5G network will be covered with additional requirements to be met, which will undermine the sense of its development.
For now, however, it seems that the potential benefits of its development outweigh the concerns. The tech companies are currently making plans for smart cities that will be driven by intelligent vehicles. The future will show how these plans will be realized.
The betting industry should instead benefit from the development of the 5G network, as well as its players. However, it will have to bear the costs of adjusting to some requirements. On the part of the government, it will be necessary to create an appropriate legal environment for the development of the 5G network to run as smoothly as possible in the gambling industry.
If you are interested in learning more about possible use cases for 5G, you can also check out the video below by John Smee on the YouTube channel of Qualcomm.
YouTube: Uses for 5G Explained in 101 Seconds
Photo credit: The feature image has been done by Pedro Talens Masip. The logo on the feature image is owned by Casino Tsar. The timelapse photo has been done by Theodore Phathu. The picture with the coffee and the electronics was taken by Diego Tovar. The image showing a person paying a bill was prepared by Pedro Talens Masip. The shot with the happy person on a smartphone was arranged by Daniela Kujon.
Source: Wikipedia / Felipe Jiménez (ScienceDirect)