How Big Will Online Sports Betting Become In The Future?

Sports betting

Shutterstock

In January 1996, Intertops accepted the first online sports bet and four years later, introduced mobile betting for the very first time.

Since then, it is safe to say the online sports betting industry has exploded and in 2017, the global sports betting market was valued at $104.31 Billion, and in 2019, the online gambling sector alone was valued at $53.7 Billion with sports betting responsibly for a vast majority of that sum.

Choice for the consumer has played a role in that growth and with so many online sportsbooks to choose from, finding the best bookmaker on the net is paramount of importance for any punter but can be tricky to get right, which makes seeking the right advice crucial.

So, with online sports betting in good health, where does it go next?

Social sports betting

Social sports betting is widely seen as the next big development in the industry as it allows punters to interact via bespoke social media apps which also allows bets to be made.

It is essentially a marketplace for like-minded punters to share tips, make bets, and communicate all via social media and it is already proving a big hit.

There are already a number of online sportsbooks that allow punters to follow professional tipsters inside the app and even track and follow live bets as they happen.

The general idea for online betting sites/apps is to keep you there and if you can get up to date news, tips, and informed advice, why would you go anywhere else?

Engagement is key to the success of social sports betting and so far, interaction is high and proving to be the ‘next big thing’ in online sports betting.

Esports

Hardly a new topic this one but Esports is showing no signs of slowing down and the recent lockdown has only gone on to increase interest in sports played electronically largely by console.

Global Esports revenue is expected to hit $1.1 Billion in 2020 so it is no surprise to see numerous online sports betting sites getting involved.

In fact, it is rare to see a betting company that does not encompass some sort of Esports with League of Legends, CS: GO, and DOTA 2 providing huge interest and income on a global scale.

The design of ‘remote interaction’ opens up the landscape to everyone to have the potential to be a global superstar although as in all sports it is hard to crack, and the cream always does rise to the top. However, it is the entertainment and accessibility factor from anywhere in the world that is making Esports one of the fastest moving sectors in the world.

Esports is here to stay and no matter your opinion on it, the sector already means big bucks for the elite teams/players as well as the potential vast betting markets for sportsbooks and punter alike.

Protected: Road to Fruitful Cisco Certifications Journey CCET, CCNA, CCNP & CCAr Using Top-Rated Prep Resources 
Read More:
Other Sports
  • 12847423802543462