Over the past week, we have seen several reports and analyses detailing the growth of the global online gambling sector. While the figures and opinions may have varied, we can generally point out a healthy rate of expansion for the industry for the next five to six years. Several interdependent components will influence how the sector operates and the growth trajectory.
Key Growth Areas
To better analyze the industry, experts have segmented the online sports betting market based on a variety of factors. These include the type of sporting activities and the method of access that bettors use. The two are, by far, the best way of gauging how well the sports betting market will perform not just this year but for a better part of the next decade.
From an access method point of view, both web-based or desktop-based sports betting sites and mobile betting platforms have been performing. This has been true over the past decade. Web-based platforms still have a lead. Even so, the growth of mobile betting platforms over the past few years is already proving that a shift is likely to occur very soon. This is due to the massive growth of the mobile industry and increased accessibility to networks and internet services.
When it comes to the sport types, the online sports betting market is looking at more growth. Experts attribute this to increased interest and the emergence of newer audiences. The leading sporting activities among sports bettors are soccer, football, basketball, horse racing, motorsports, baseball, tennis, mixed martial arts, and boxing among others. These have only grown in popularity over the past decade which is likely to remain the same going forward.
Even so, it is worth noting that the sports betting sector is also getting a huge push forward from emerging newer activities. One of the most promising activities has been eSports. The sector has spawned a new class of sports betting sites and compelled traditional online sportsbooks to diversify their portfolios even further.
Power to The Top Sports Betting Sites
As it stands, sports bettors can place their bets via several amazing online sportsbooks. Bovada, BetOnline, Bet365, BetAmerica, Betfred, and 888 sports are a few of the ones that are making waves in the online gambling market. These operators have mastered their craft and are always working towards being the best there is. The stiff competition is one of the things that has been propelling the market forward.
As a result, online sports betting is now safer and more reliable than ever. Most licensed and regulated sites you will come across will offer a pretty solid experience. This even applies to offshore sports betting sites. You could still be asking yourself, is Bovada legit? Or maybe you would like to know whether BetOnline is fair or is it safe to use. Well, we still get lots of these questions and now it is much easier to answer them.
You may be wondering how this relates to the awe-inspiring projections that industry experts have for online sports betting. The answer to this is also pretty simple. The rise of these sites and the fierce competition between them relates to the rising demand for quality sport betting products and services. This is a rather obvious market driver that is propelling the whole industry forward.
Lots of Benefits
Betting is an integral of sports culture and it has been so for the past century or so. There are some negative aspects such as underage gambling and irresponsible betting behavior. Thankfully, a lot of effort has been put into addressing all this. Still, it is almost impossible to separate the impacts of sports and sports betting on each other. As the global sports betting market continues to grow, the same is expected for global sporting activities as well as related sectors.
The betting sector cannot exist without sports and thus they have to find a way of giving back. Sponsorships and partnerships are some of the ways this is happening. So far, it is going pretty great thus giving us the much-needed win-win situation that everyone is looking for. It all comes down to everyone from the sportspeople, sportsbooks, and even the regulators playing their role. This will ensure that everything co-exists harmoniously.