Sports betting has been around for centuries, with many countries, such as Great Britain, creating laws that allow for betting on sporting events. While the practice itself may be centuries old, the opportunities for people to place bets digitally have only been available in the last few years.
Blockbuster is one of the most well-known companies to use sports betting as a marketing tool. The movie rental company took their love for betting and applied it to film, using statistics to make their case that a certain film would be popular based on the matches that were played during its release. The results were often dramatic, with many cases of teams and individuals profiting from their Blockbuster predictions.
It wasn’t only about film though, with Blockbuster establishing partnerships with sports leagues and teams to provide live betting opportunities. The company is also responsible for popularizing football pools, which are simply spreadsheets where users can make predictions and check the results against other users.
The opportunities for sports betting aren’t limited to just the United States. In fact, the International Federation of American Football (FIFA) officially recognizes Mexico as the world’s third-largest sports market, with over 100 million people participating in football and betting activities each year. As a result of Mexico’s large population and passionate sports fans, several companies have established operations in the country, with one of the leaders in the field being Unikrn.
Unikrn is a sports betting company founded in 2014, with their headquarters located in Las Vegas. The company is committed to providing top-notch experiences to their customers, with several marketing campaigns focusing on the culture and history of Mexican sports, as well as emphasizing the safety and security of placing a bet with them.
The company is particularly focused on college football and basketball, having partnered with several colleges and universities, including the University of Nevada, the University of Oklahoma, and the University of Arizona. Through these partnerships, Unikrn provides their customers with access to the majority of NCAA events, as well as adding additional incentives for schools to participate.
Like many other companies in the space, Unikrn provides a safe and secure environment for people to place bets, with all transactions being processed through their company servers. They also allow for withdrawals and deposits to be made via credit card, as well as implement several other security measures to protect their customers’ identities.
Regulating And Legalizing
While many countries allow for sports betting, they don’t always provide the proper regulation or legal framework for it to be carried out safely and securely. The majority of the revenue from sports betting flows to the betting companies and sports leagues, with less than 1% of that total paid out as winnings for the individual participants. The money that does reach the players is often in the form of sponsorship, with most professional sports leagues and teams accepting corporate sponsorships.
The limited legal framework that exists for sports betting means that some people, including professional gamblers, are breaking the law. Without proper regulation or legal protection, a lot of the betting activity that goes on globally doesn’t feel or appear safe.
To combat this problem, several countries, including France and Germany, have established organizations to regulate and legalize sports betting. In the European Union, the European Sports Betting Association (ESBA) was founded in 2010 to build a safer and more reliable sports betting environment for their members, with France and Germany being the first two countries to establish national associations.
The ESBA is an independent association which represents the interests of European sportsbooks, ensuring that each member provides the safest, most reliable service possible. The group promotes integrity and fair play, and works toward creating an EU-wide legal framework for sports betting.
It’s an area of growing opportunity, with several companies establishing operations in other countries to provide that regulatory and legal framework. DraftKings, a sports betting site, is currently operating in Spain and Germany, with several other countries, including France and Great Britain, where their services are currently illegal. The company has committed to expanding into the EU in 2019, with several new markets to be launched to provide a safe and accessible place for people to bet on sports.
The Growth Of Online Betting
While it’s been around for centuries, sports betting wasn’t always available online. The practice was mostly limited to individuals placing bets at casinos or betting shops, with the occasional televised game being used as an incentive to bet. The introduction of online sports books changed that, providing people with the ability to place wagers from the safety of their homes, with many well-known sites offering a veritable smorgasbord of sports and sports betting opportunities.
The growth of online betting has been massive, with people having access to a near infinite number of wagers thanks to the advancement of technology. This has made sports betting much more convenient for people, allowing for a variety of opportunities, such as creating contests where users can win prizes by making accurate predictions or placing wagers on individual games. It has also opened up the opportunity for smaller books to provide their services to a wider audience, as well as gain a broader level of engagement.
The convenience of online betting has made it attractive to many different industries. One of the pioneers in the field is DraftKings, who saw the potential of online betting and incorporated it into their business model. The company offers a variety of financial products and services, including fully vetted online sportsbooks where users can place real-money wagers on a variety of sports.
While the opportunity for sports betting is huge, the practice itself isn’t as safe or secure as it could be. It’s a common problem, with several countries, including Germany, establishing regulatory and legal organizations to ensure that the majority of the revenue from sports betting flows back to the franchises and sports leagues, rather than being siphoned off by organized crime.
It’s an issue that the International Federation of American Football (FIFA) takes seriously, with their ethics committee actively pursuing allegations of corruption within the sport. As a result of this, several companies, including DraftKings, have committed to expanding into the European Union in order to ensure that they can provide a safer and more secure environment for people to enjoy and participate in sports betting.