In 2015, BetStars invested nearly $200 million in state-of-the-art sportsbooks, poker tables, and casino slots. The company wanted to create a luxury sports and gambling destination in Singapore.
They didn’t just want to build a sports bar; they wanted to create an all-encompassing entertainment destination that would include a variety of sportsbooks, poker tables, and casino slots. And what better way to do that than by taking advantage of the increasing number of people who are interested in betting on sports?
The result is Parklane Suites by BetStars, a magnificent new sports and betting franchise that was officially launched on August 24, 2018.
The sports betting industry is a $14 billion market in North America, and the industry shows no signs of slowing down.
In the last year, sports betting has grown by 19%, according to the U.S. Gaming Association. In 2017, sports betting revenue was up 12% compared to the year before.
That makes sports a safe bet for any entrepreneur looking to dive in to the growing market. In fact, the best time to get involved in sports betting is now, while the industry is still expanding.
How Does Sports Betting Work?
The basic idea behind sports betting is to make money off the apparent anomaly of winning teams and players.
Traditional sportsbooks make money when a sports event ends in a score mismatch—when a sports team you support scores a lot more points than the opposing team. That can result in some pretty hefty winnings if you’re fortunate enough to get involved in such a situation. But it can also be pretty frustrating when you’re on the other side of the scoreboard.
At its most basic level, sports betting is a fairly straight-forward wager. You’re simply placing a bet on the outcome of a sporting event, be that a sports team winning, losing, or drawing. The house generally takes care of processing your bet and paying out on winning bets, while also taking the occasional haircut on losing wagers.
The Growth Of Online Sports Betting
The growth of online sports betting has made it much easier for people to place bets and follow sports results, even if they aren’t living in the same city or state. That has opened up a whole new world of possible opportunities for sports betting entrepreneurs.
A variety of online sports betting companies have risen to the occasion and created amazing new businesses, specializing in catering to bettors from different parts of the world.
Whether you’re looking to create your own sports betting company or want to become the next big thing in the industry, you can learn a lot from examining the strategies of the best online sportsbooks.
Poker And Casino Games For Everyone
The luxury entertainment destination that is Parklane Suites by BetStars also boasts some of the hottest casino games around.
The company is based in Singapore but also has casinos in Macau, which is a special administrative region of China, and in New Jersey, which is officially part of the United States.
Casinos in Macau are regulated by the Macau Poker and Gaming Regulations, which were established in 2015. These regulations allow for games like roulette, blackjack, and poker to be played for casinos.
In the US, betting on sports isn’t illegal in any state, but the industry is still quite restricted in terms of where it’s legal to place bets and how much you can win or lose.
Becoming The Experts You Need To Survive
If you become the expert you need to survive in the sports betting world, you’ll have the opportunity to create a profitable business and make a name for yourself within the industry. That alone can’t put a dent in the amount of money you can make, but it will certainly prove to be a great stepping stone.
You’ll need to become an expert in many different areas, including sports, the law, and statistics. But you can start off simply by becoming a jack of all trades, which will help you get a foot hold in the industry. And who knows—perhaps one day you’ll even land yourself a Vegas job, processing sports bets for some of the biggest names in the industry!