Global Trends in the Sports Betting Market
Posted On July 23, 2020
The global sports betting market is expanding rapidly every single year. The industry is becoming increasingly quick to evolve, thanks to the constant introduction of new technologies that make betting access easier for customers. Due to this rapid expansion, the market creates new trends all the time. According to a Technavio report from 2015, the international sports betting market is set to reach a value of over $253 billion by the end of 2020.
Never before has the world of sports betting been so advanced either. The practice used to be confined mainly to retail bookmakers, but nowadays, online betting is widespread in every corner of the world. Today’s high speed internet and powerful technological devices are also attracting a young new audience to online sportsbooks. Such betting sites usually offer user-friendly mobile betting apps as well, which are helping the betting industry to grow and thrive.
From Cash to Virtual Transactions
As the sports betting industry is growing so rapidly, a few distinct new trends are emerging. The first is a switch by customers from using hard cash to using virtual money transfers. Nowadays, bettors can wager on their favourite sports from a long list of markets, each of which have different price ranges. These extensive markets are accompanied by eWallets and other secure online transaction portals.
Betting sites are also shifting towards cryptocurrency payment options like Bitcoin, Litecoin and Ethereum to meet punters’ wagering needs. This switch has reduced the hazards of using hard cash to bet, and has made rewards easier to claim. The introduction of virtual rewards systems has also helped bookmakers to use these rewards to track bettors’ expenditure and customise their marketing plans and rewards.
Technical Valve Betting
The industry also seems to be shifting towards technical valve betting. Numerous bettors have opted for this form of betting as it boosts the size of their potential returns by a significant margin. One of the main reasons for this shift is that newer generations of punters are changing the game in a big way.
By adopting a more professional view of technical valve betting, bookmakers have managed to close the gap and discrepancies between technical valve betting and ARBing. Modern bookies offer dozens of favourable EV bets that old-school ARBing software ignores. Punters are seemingly more ready than ever to accept more volatile betting if the risk could bring them bigger returns.
Mobile Technology is King
One of the betting industry’s biggest global trends is automation, which is tied to the rapid spread of modern technology. Licensed online and mobile gambling platforms offering secure payment methods have been essential for the market’s success, as they have convinced thousands of customers to join the pool. Mobile betting revenues in particular are rising at an astounding rate as more developers optimise their platforms for smartphones and tablets.
Ultimately, new trends will continue to surface as the way bettors wager changes. The best way to take advantage of them is to join a sportsbook that is licensed and regulated, reputable among its customers, and offers secure banking and fair bonus offers.