The world of sports betting is ever changing. Once considered a niche activity reserved for the rich and famous, sports betting is now available to anyone with a smartphone and an internet connection. This evolution is best reflected in the world of online gambling, where it’s now possible to bet on just about any sporting event, with the majority of bookmakers offering great odds and an easy to use betting platform.
The Growth Of Online Gambling
It’s fair to say that the world of online gambling is growing at an incredible rate. In fact, according to a New York Times article, legal and free betting markets grew by an estimated 42% between 2016 and 2018.
The majority of this growth came from the United States, which saw its online casino market grow by an estimated 106% between 2017 and 2018, largely due to the ease of accessing betting opportunities from the comfort of your home. In fact, the United States now boasts the third largest gambling market in the world, behind only China and the UK.
Why Are People Still Choosing to Visit Land-Based Casinos?
Despite the growth of online gambling and the various legal and regulatory changes aimed at creating a level playing field, the world of sports betting seems to have stagnated. In a nutshell, this is because there are still so many things that can go wrong when placing a wager on sport. For starters, it’s generally accepted that the outcome of a game is usually determined by a combination of luck and skill, with luck being the primary factor. This is why the majority of gamblers still visit land-based casinos to place their bets, rather than engaging with an online betting platform.
The Growth Of Mobile Gaming
It would appear that the future of sports betting lies in mobile gaming. After all, how often have you been in the middle of a crowded bar or restaurant, desperately searching for a cellphone to capture that moment of triumph on video? Or maybe you’re at a game, stadium or arena and want to share the excitement of the moment with those sitting next to you.
The growth in mobile gaming is such that the industry now offers an almost complete gambling experience from the convenience of your smartphone. From table games to online sportsbooks, all you need is a reliable WiFi connection, a stable internet connection and a few dollars to get started.
The majority of online bookmakers now offer a great deposit and withdrawal option, along with a safe and easy to use platform. This is undoubtedly contributing to the growth of online gambling, as it provides the perfect opportunity for new customers to try their hand at betting, without risking large sums of money.
As previously stated, luck appears to be the defining factor in most cases, with skill playing a smaller role. However, this is certainly not the case when betting on some sporting events, notably horse racing and boxing. Here, the outcome of a contest almost always hinges on technical indicators, such as the speed and power of the horses, as well as the sharpness of the fighters’ punches. These factors can be easily quantified and, as a result, can be accurately predicted with some careful study. If you have a love for horse racing or boxing and feel confident in your ability to pick winners, then online sportsbooks are the perfect place to make a wager.
For those who feel that the world is a safer place and that they can enjoy a pleasant evening or weekend away from home, one of the first countries that comes to mind is Great Britain. However, withdrawing funds from an international gaming house can be difficult, especially when you’re not physically located in one of the United Kingdom’s tax havens. Luckily, the government there understands the importance of gaming houses paying their fair share of taxes and has made it easy for legitimate businesses to settle there. As a result, international gaming has become an attractive option for bookmakers and casinos, particularly in light of the UK government’s commitment to growing the economy and providing employment opportunities.
Depending on where you live, the legality of online sportsbooks, or at least certain types of gambling, can vary. This is why it’s important to check with your state government to see if online sportsbooks are considered legal or illegal in their jurisdiction. It would be wise to assume that any form of gambling that is illegal where you live is also illegal where the bookmakers are based. As a result, if you’re ever searched or questioned by law enforcement, it’s crucial to know that you’re playing legally where you are.
The Growth Of Digital Marketplaces
The lines between the virtual and real worlds are blurred in the digital age, and the world of sports betting is certainly not immune to this evolution. As previously stated, the growth of online gambling is largely due to the increased usage of smartphones, which allows for simpler, safer and more convenient wagering. This connectivity also provides the perfect platform for businesses to advertise and offer their products and services, whether it’s a brand new sportsbook that just opened, or an online casino that wants to expand its reach to potential U.S. customers.
One of the latest examples of the virtual and real worlds merging is the Betting Club. This international bookmakers’ consortium allows users to make wagers on a range of sporting events, with the ability to withdraw funds using PayPal or a variety of Credit Cards. In the future, customers can expect to see more innovative ways in which sportsbooks and casinos blur the lines between the virtual and real worlds, as well as the various products and services that they offer.