Why Sports Betting Was Leaglized

When it comes to sports betting, the stigma that surrounds it is slowly starting to disappear. More and more people are realizing the countless benefits that come with placing wagers on their favourite teams. It is no wonder why numerous countries have banned the practice, yet others have allowed it to flourish. For those who want to participate in sports betting, knowing the underlying reasons why it became so popular in the first place is critical. Here are the 10 most compelling reasons to bet on sports.

Fractionalization

One of the biggest draws to sports betting is the ability to make small, winning bets while also being able to enjoy the perks of a large bet. Take sports betting websites like Mybookie.ag and Sky Betting. The two companies are owned by the same company, William Hill, and offer virtually the same products. However, while Mybookie.ag is a traditional sportsbook, offering a variety of sporting events, Sky Betting focuses solely on horse racing. That is why they are sometimes referred to as “the Formula 1 of the sports betting world”. Horse racing enthusiasts will enjoy the peace of mind that comes with knowing that their absolute favourite horse is running at the time they place their bet, while casual sports fans and those who want to make a few small wagers can take advantage of the simplicity of the betting interface.

Vast Majority Of Winnings Are Paid Out To Real Winners

The good news for sports fans is that, regardless of what country they are in, most gambling winnings end up being paid out to real winners. In 2019, according to figures released by the United Kingdom Gambling Commission, 98.7% of all wagers were deposited into accounts where they could be withdrawn. To put that into perspective, over three quarters (76.3%) of all bets are guaranteed to profit the bettor. For those looking to wager online, bonus funds from well-known bookmakers like BetVictor, William Hill, Ladbrokes and Paddy Power, to name a few, can be used to fund initial bets. The only downside to this strategy is that it might take some time to win big. In the meantime, the funds are locked in and there is no way of knowing if you will be paid back or not.

Easy Access To A Variety Of Sports

One of the things that make sports betting so appealing is the sheer amount of variety that is available. When placing a wager, there are numerous options to choose from depending on what event or series of events you are interested in. If you are a fan of English soccer, for instance, you could place a bet on Manchester United to beat Liverpool, or vice versa. In the 2019 Euro Cup, you could wager on Portugal vs. Czech Republic, or Spain vs. Germany. There are literally hundreds of options for sports fans who want to wager on a variety of events from all over the world.

Increased Accuracy And Lower Overrounds

Due to the overwhelming majority of wagers being placed by professionals (66% in 2019) and because of the large sums of money that are at stake, there is constant pressure on bookmakers to ensure that wagers are placed accurately and with minimal errors. Due to the time of day that most bets are placed (during the day), there is also an element of accuracy that comes with the use of technology. Most bookmakers now utilise various methods of predictive analytics to pinpoint the exact odds of different outcomes. Those who wager regularly will note a significant increase in accuracy and a marked reduction in the number of erroneous “hot” or “cold” bets as a result of the use of such technology. While the majority of winnings are paid out to real winners, it is worth noting that in some cases wagers are rejected by the bookmaker and the operator will not refund your money, no matter what. In those instances, you will simply have to content yourself with the fact that at least your time was not wasted.

Increased Opportunities For Betting

Whether you like to bet on the outcome of a sport event or you just want to try your luck at gambling, there are more opportunities for you to do so now than ever before. Thanks to the widespread use of smartphones and the explosion of online betting platforms, there are now opportunities to bet on almost anything, including sporting events, from anywhere in the world, at any time. If you want to place a wager on the next UFC fight, you can do so easily using your mobile device. Whether you are at home or in pub or bar, you will always have access to the best odds available online.

Safe And Secure

Sports betting online is a relatively new phenomenon, with around 14 million people globally using these platforms to place wagers. While there are a plethora of benefits that come with placing wagers online, safety and security are two areas where they differ significantly from traditional sportsbooks. First of all, since most of these platforms operate outside of country restrictions, they are not subject to the same legalities that traditional sportsbooks are. Also, since these are businesses that are designed to accommodate all types of bettors, they must ensure that their clients feel safe and secure at all times. To achieve that, they utilise a range of safety features, including two-factor authentication, strict encryption protocols and anonymization, to protect their customers’ personal data. For those looking to wager online, the benefits of placing bets in a safer and more secure environment, where all their personal data is protected, far outweigh the inconvenience of doing so.

Live Streaming

One of the most significant changes that has occurred in the world of sports in recent years is the development of live streaming. Thanks to this innovative technology, fans can now follow their favourite sports teams live, from anywhere in the world, as the action unfolds.

When live streaming was first developed, it was primarily conceived as a way for TV networks to get a share of the increasing number of global sports fans. However, as time passed and the technology improved, so did the ways in which it is used. For instance, the NBA started using it to provide their fans with premium in-game content. In other words, they would live stream games to allow betting fans, from anywhere in the world, to follow the action as it happens.

One of the significant benefits of live streaming is that it allows fans to participate in games that they are not physically present at. For instance, let’s say you are a Liverpool FC fan and you want to bet on today’s game against Brighton & Hove Albion. If you are not in Liverpool at the moment, but you are following the match live, you will be able to participate in the action, regardless of where you are located.

Increased Social Interactions

One of the most significant draws of sports is the opportunity to meet other fans. Even those who are not that into sports will enjoy engaging with other bettors who share their love for a particular team or athlete. Whether you are placing a wager on the outcome of a sporting event or you are just trying your luck at gambling, there will always be someone around who shares your interests. As a result, whether you like to admit it or not, placing a bet on sports can actually be a very social experience.

Luxury Additions

The list of additional perks that come with sports betting would be longer if we were to include them all. From free bets and rewards programs to high-roller suites and luxury add-ons, such as champagne, fancy dinners and travel allowances, there is a lot that a sports betting fan can enjoy. If you can think of something else that you think is worth adding, let us know in the comments below!

At the end of the day, betting on sports is a great option for those who want to take a chance, make a few extra bucks and enjoy the added perks that come with it. Now that more and more people are realizing the potential that sports betting holds, the stigma that surrounds it is slowly starting to disappear. As a result, more and more people are looking for ways to bet on sports and enjoy all its perks.