What Does Solo Over Mean in Betting?

Many people are starting to use the phrase ‘solo over’ to refer to online sportsbooks that accept wagers from individuals who are trying to beat the odds and win money without risking much money themselves. Essentially, when someone places a bet on a sporting event using a sportsbook that offers ‘solo over’ options, that person is placing the bet with the understanding that if they lose, they will not lose more than what they’ve wagered. It is important to note that most sportsbooks that offer ‘solo over’ options do not allow users to place bets of less than $5 or else they would violate their license in some states. With that being said, the concept behind ‘solo over’ is admirable even if you’re risking a few bucks – it’s all about having good odds in your favor, right?

Why Are Online Sportsbooks Moving Towards ‘Solo Over’?

To begin, consider the state of sports betting in the US. It is currently legal for states to sanction sports betting, but online sportsbooks are largely staying away from the United States because of its prohibitive internet gambling laws. Those laws were designed to protect people from becoming addicted to gambling, but they seem to have had the opposite effect. According to Game Review, an American company that specializes in online gaming reviews, the US has the highest rate of online gambling addiction in the world. That may be because it is so easy for American adults to get their hands on legal gambling. Some states, like Pennsylvania, even provide online gambling resources in school counseling offices. It would be a shame if a state-regulated business chose to avoid the United States because of its stringent internet gambling laws. It would be better if the laws were updated to fit the new reality and allow for legal and safe online gambling.

Most Popular Sport For Online Gambling

Taking a closer look at the data, it would be fair to say that professional gambling takes place predominantly on the sports front. Specifically, the sports betting segment grew its revenue share by 12% year over year in 2018 to around $23 billion in 2018. That is an enormous share of the total online gambling market which, according to Statista, was valued at $16.2 billion in 2018.

As a result, it comes as no surprise that the majority of US online sportsbooks (75%) provide betting options only on sporting events. The category of horse racing and dog racing generated the second-highest revenue share at 13% and 11% respectively. It is also worth noting that despite the general consensus that online gaming is a largely female-dominated market, the data shows that men are responsible for the vast majority of online gambling activity.

The Future Of Online Gambling

In light of the above, it should come as no great surprise that most online gambling businesses are moving towards providing a ‘solo’ or ‘lite’ version of their product. In other words, these are the types of online gamblers that the industry is catering to: