- 0.1 1. More people are starting to participate in online “sports betting”
- 0.2 2. More sports tech companies are moving to Chicago because of its tech features
- 0.3 3. Sports tech companies turn to live broadcasts
- 0.4 4. Using VR and AR in live broadcasts improves the viewing experience for fans
- 0.5 5. Sports technology companies investing in technology for professional athletes
Whether you are a passionate sports fan or even just a casual sports fan, it is safe to say that the sports industry nowadays is one of the largest globally, with people from almost every country in the world participating. This is mainly thanks to the latest technological advancements from the past two decades, which have finally allowed the sport to become more and more present in the online world. Not only that, but due to the huge amount of information available online and also due to the ease of access to that information, sports companies are relying more and more on the internet and today’s technology to promote their sporting events through the use of internet marketing and digital media, by analyzing data from fans Sports frequently posted on social media, and more. Because of all of that, all of those sports companies are not only choosing which normal city to work from, but actually choosing Chicago as their preferred location of operations, as Chicago is slowly (but surely) becoming the number one sports tech hub in the entire world. Now, there are several different reasons for the thriving sports tech scene in Chicago.
With that said, we’ve picked out the top five reasons why we believe Chicago’s tech-sports scene is set to become the biggest tech-sports scene in the world. Here are those:
1. More people are starting to participate in online “sports betting”
First, there is the fact that more and more people are trying to try out online sports betting, which is probably one of the biggest reasons why the sports industry is more present in the online world nowadays.
Obviously, the main reason most people consider trying sports betting is the entertainment value that the activity offers them. While watching live sports can be fun and exciting, nothing compares to the anticipation, rush and exhilaration you get when you have some money while watching a sports game, whether it’s football, basketball, baseball or any other sport you might like. Be passionate about it.
Now, you may be wondering if online sports betting is legal in the area where you live. This is one of the main reasons why Chicago is an attractive city for sports tech companies to work from, as betting is completely legal in the US state of Illinois, which therefore includes Chicago, the most populous city in this state.
So, since online sports betting has already become legal, straightforward, and available across the state of Illinois since 2020, anyone who resides in this state can choose from a variety of sportsbooks and online betting apps. As described at ilgamblingfun.comThen simply sign up, and bet from the comfort of their home, all without having to worry about violating any law.
2. More sports tech companies are moving to Chicago because of its tech features
What we consider the second biggest reason more sports tech companies are choosing Chicago as their preferred location of operations is simply due to the fact that this city has a lot to offer in terms of technology.
Shortly before online sports betting becomes legal in Illinois during 2020, Chicago is officially recognized as a world-famous smart cityWith the presence of the city Ranked 171 of the world’s leading smart cities based on research which focused on the technological trends available on a global scale at that time (end of 2019) and also on the city’s annual return on investment in superconductivity and technology implementation.
Even more impressively, at the time, Chicago was also ranked by researchers as among the top five US cities that have been ranked as the “Best Globally Connected Smart Cities” within the US, choosing from a truly broad selection of 23 cities. American in total.
This ranking was the fifth highest for the city of Chicago due to the city’s ability to leverage four technology attributes—implementation of technology, cybersecurity, data and analytics, and connecting citizens—in ways that would best serve its residents, out of all of which were found to be successful only That’s because of the city’s efforts to stay abreast of the technological trends of the time.
This constant focus on staying current when it comes to the latest technological improvements has continued to this day at a steady pace. As such, it is not surprising that more and more sports tech companies are relocating to Chicago, all looking to take advantage of the many great tech features that this beautiful and multicultural city has to offer as well.
3. Sports tech companies turn to live broadcasts
The third strongest reason for sports technology companies to consider Chicago as the location of their operations is the fact that the same technological attributes that the city offers also make it a great place for live broadcasting companies to organize sports events that are virtually broadcast in the form of live streams.
It is clear that no matter the size of the sports arena or the event center, each venue will have a maximum capacity, and once this capacity is exceeded, no more sports fans can attend that specific event.
This is where streaming technology comes into play, as this allows sports technology companies to employ the services of streaming companies in order to expand their overall sports audience to an astronomical level.
By broadcasting a sports event live, sports technology companies can increase their sales Simply by selling digital tickets that provide sports fans with virtual access to any sporting event that is streamed live online, and they can watch it directly from the comfort of their homes with a stable internet connection, whether it is on a computer, laptop, smart TV, or even a phone Clever.
This applies to literally any kind of sports, including soccer, boxing, basketball, hockey, tennis, baseball, rugby, soccer, or even simpler things like professional darts. If there is a sports audience that loves it, there is a market for it.
Not only that, but with the live broadcasting industry currently worth over $184.3 billion on a global scale, it’s no secret that streaming live sports is what has become the new standard for most sports and broadcast companies alike, especially when accounting for the fact that – which The global live broadcasting market revenue is expected to reach over $247 billion by 2027.
4. Using VR and AR in live broadcasts improves the viewing experience for fans
As the fourth major reason for sports technology companies to adopt Chicago as their place of operations, we first have to talk and think about the world of esports (esports), i.e. professional video games.
As of 2022, According to the latest market analysis by StatistaThe global esports market is currently valued at just over $1.38 billion, which is already a pretty impressive market revenue if you think about it, while also expected to grow to $1.87 billion by 2025.
This is mainly due to the fact that most casual gamers (that is, players who do not play video games at a professional level) are very likely to enjoy watching professional gamers and professional gaming teams play the same competitive multiplayer online games they play at home, including games Such as Counter-Strike: Global Offensive, PUBG, PUBG Mobile, League of Legends, Dota 2 and more. For this reason, they are also expected to enjoy watching this professional level of play from the comfort of their own home.
With an expected audience of 318 million esports fans worldwide by 2025It is clear that developing venues specifically designed for such a large audience is essential.
Not only has this caused sports tech companies to demand bigger event venues or larger sports arenas in order to run their esports offerings to this huge community of esports enthusiasts, but it has also prompted them to start implementing VR (Virtual Reality) as well as AR (Artificial Intelligence) in their live broadcasts in order to improve the overall viewing experience for their fans and, in the end, take it to a whole new level.
A great example of demand for the largest venues possible besides VR and AR integration is the United Center indoor arena, located in Chicago, Illinois, which was already used to host Counter-Strike: Global Offense tournaments, as well as the League of Legends quarterfinals in 2016, And very recently, League of Legends Championship Series (LCS) 2022.
By applying VR and AR to live broadcasts, sports tech companies can embed virtual assets such as computer-generated graphics, leaderboards, animations, and digitally-created objects that don’t exist in reality, all digitally displayed to an online audience watching at home. In high quality, live via real live video of the esports event.
This also applies to live broadcasts of standard sports. While virtual reality allows sports tech companies to place on-screen labels of a sports stadium (such as a soccer field) that conveniently highlights specific plays, field areas or locations of players, augmented reality allows for those plays and movements to be detected by sports athletes.
5. Sports technology companies investing in technology for professional athletes
Finally, and as a final reason as to why more sports tech companies are considering operating directly from Chicago, we have the fact that Chicago is a city driven by its many technological attributes.
As such, there are indeed quite a few differences Sports technology companies based in Chicago Which is turning to modern technology to change the way today’s athletes perform on and off the field, ultimately making these athletes noticeably better at what they do.
By utilizing low-cost microelectronics, high-resolution wearable smart devices, and computer-aided analysis powered by augmented reality, companies can help athletes take their game to a whole new level we could never have imagined.
For example, by recording real-time video and then using advanced computer software that adapts to any level of play to store and show virtually tailored movements or play-by-play virtual graphs, sports tech companies can share all of this crucial trial – digital data and error. With individual players, teammates and their coaches in order to let the whole team know the best possible plays they will eventually be able to perform on the field against their opponents.