Moving faster and faster
In its 2001 hit “Harder, Better, Faster, Stronger“, electronic music duo Daft Punk referred to the relentless drive to work harder and the endless cycle that our work is never over.
Fast-forward 25 years, and the pace of life they were referring to seems almost snail-like compared to what we expect and demand today, where everything needs to happen instantly, or we start looking elsewhere. While we might strive to live in the moment and be mindful, the truth is that most of us are constantly seeking out what is happening next.
Instant gratification and reward
We have become so used to instant gratification that we expect it everywhere, and this is one of the reasons that microbetting has exploded. We can no longer wait until the end of the game or race for the outcome, and why should we when we can predict the next goal in a soccer match or point in a tennis game?
Just as we used to listen to whole albums, we now stream playlists and skip tracks that do not engage us instantly. Our attention spans seem to have gotten shorter and shorter. Social media also delivers instant dopamine hits, and we expect that instant feedback loop in all our transactions.
Success
Microbetting is the inevitable result of all of these changes and expectations. It has not made things go faster or increased the demand for gratification, but it fits the model perfectly, which is why it is so successful. It is estimated that microbetting accounts for around a third of in-play sports wagering and is particularly popular in fast-paced and unpredictable sports. Industry trackers suggest that global microbetting handle is upwards of $21 billion a year. It is all about granularity with wagers focused on single plays, pitches or points. The market resolves in minutes or even seconds, which drives high engagement and transaction volumes.
Chicken and egg
Modern sportsbook interfaces are all about capitalizing on this particular form of in-play betting. While the premise of this article is that new online casinos are being built like modern sportsbooks, if you take a step back you could argue that microbetting has learned its trade from casinos and slots in particular. Slots, whether in physical venues or online, have never left players hanging around waiting for a result. There is a mere moment between pushing the play button and receiving the result, but the expectation in that moment is the most thrilling part of the game. In the chicken-and-egg paradox, it is hard to tell which form of betting has influenced the other.
Regardless of which came first, there is no doubt that modern sports betting sites and new online casino sites often bear a startling resemblance in layout and user experience (UX). There is an underlying design philosophy that allows for fast, repeatable, low-stakes wagering. This is the most attractive format for young iGamers and bettors, where real time data and automation deliver a fun and entertaining experience.
Online casinos increasingly accessible despite restrictions.
While real-money online casino and sports betting are restricted in the US (particularly when compared to similar global markets), the operators have found plenty of ways to get around the blocks. In fact, the gambling market in the country is set to grow by around 26% this year, and there are dozens of new casinos coming online. Much of the growth is fueled by the increasingly popular sweepstakes casino market, which is outpacing the real-money market in both reach and revenue.
In an ‘exploding’ market, it can be hard for players to know who to trust, and every operator is keen to get a slice of the action. The thing with microbetting, whether it is sports or casino, is that players need to know that they are in a safe environment where the operator has their best interests at heart.
iGaming is entertainment, and it will only be entertaining if players find reputable sites. There are lists of new casinos available at Casino Guru – an independent online review site that includes a Safety Index as a feature in its rankings. What is noticeable is that these newer online sites tend to be designed with a mobile-first approach, which makes them instantly appealing and accessible on the smaller screens on which so much play now takes place.
Slots and crash gaming, the ultimate quick thrills
If slots have always been their own version of microbets, it should come as no surprise that they are the most popular gaming choice, whether in real-money, sweeps, or social casinos. However, there is also notable growth in both the live-dealer and crash gaming markets.
Crash gaming is probably the closest comparison to microbetting because it happens in the moment and players can see the action unfold in front of their eyes. Unlike entirely random slots, crash gaming gives the illusion, at least, of a degree of control. The player bets on a multiplying curve. The longer they stay active, the greater the potential pot, but if the game crashes out before they cash out, everything is lost. These real money multipliers were originally found in crypto casinos but are now popular just about everywhere. Their appeal is their incredible simplicity and high-paced action.
Live dealer action
While slots and crash gaming embody the excitement of microbetting, live dealer games are also growing in popularity. In general, they offer a more sociable and immersive experience with players facing a real dealer for rounds of classic table games like blackjack or roulette. Not only do players pit their wits against a human rather than taking a chance with a random number generator, but they also play alongside other real contestants. It is the closest one can get to playing in a real casino without having to step outside.
While you might assume that real dealer games are more gentile than crash and slots, there is one major exception that is rapidly growing in popularity. Gameshow-style Wheel of Fortune games follow the microbetting pattern of rapid-fire action and results. Hosted by a live dealer, they are the perfect blend of live interaction and rapid-fire action and are so entertaining that there are live streams that people just watch for fun without placing any bets.
Stay safe
Microbetting is designed to increase engagement, but that should never come at the cost of creating harm. Remember always to set your budget before you start to play and never gamble more than you can afford to lose.
