CONI, the Italian National Olympic Committee, has observed the growth perspective of the world population, which is projected to reach about 10 billion people (and 100 billion robots) by 2050, and the simultaneous reduction of the Italian population, which is forecasted to decrease to around 54 million inhabitants compared to the current 60. Based on this, CONI aimed to predict how sports will look like in Italy by 2050.
One of the most interesting predictions is the growth of eSports and decentralized betting. The sports media landscape will change drastically; sportification and gamification will gain popularity; facilities will transform into social meeting places that offer tailored experiences and comforts; the spread and practice of e-sports, which are already trying to achieve Olympic status, will continue to grow.
Most importantly, the Italian Olympic Committee predicts that the traditional sports betting business model will undergo a complete revolution; fan engagement will increase through new decision-making and ownership models that use blockchain technology.
CONI Report: Decentralised Betting
Dramatic changes are coming to the traditional way of doing business in sports betting. Although sports betting will still be around, the methods used will be vastly different. Artificial intelligence and blockchain technology will revolutionize the traditional role of bookmakers, replacing it with a new peer-to-peer betting system that offers increased transparency and lower costs. This new technology will also offer real-time, personalized betting experiences both in stadiums and beyond.
The next generation of fans will drive the future of sports fan engagement to new heights as new decision-making and ownership models take center stage. Fans are the backbone of professional sports and the next generation of fans have different expectations. They love sharing, are tech-savvy, and are accustomed to having more control over their decisions.
With the advent of 5G technology, fan-player and fan-team interactivity is set to increase both during and outside of games. Additionally, the use of blockchain technology will make it easier for fans to become co-owners of sports clubs, leading to a rise in co-ownership models.