SiGMA

The emergence of new sport betting markets

Posted:: Nov 26, 2020 17:12 Category: Executive Interview , Sportsbetting , Posted by Sofya Puzhaykina

The growth in popularity of a majority of high-profile sports has increased tremendously

The growth in popularity of a majority of high-profile sports such as baseball, cricket, basketball, and football or soccer as some people in the US would call it, has increased tremendously. These sports have been able to attract a vast consumer interest through the media, which has, in turn, increased sponsorship deals for those clubs, associations, and the players. 

To further attract more viewers, these sports organizations have increased their budget on marketing. This is the reason why some of the top-ranked sponsors in the sporting industry are Betting firms. This is a clear indication that the sports betting market is growing, leading to new sport betting markets. In fact, it is projected that the sports betting market will grow by £109 billion in the next four years. 

African countries have a passion, and now betting is on the rise

The betting industry in Africa  is growing exponentially. Due to many factors that include a huge sports fans base, the continent has a young population, and the spread of the internet and mobile phones. One of the most-watched sports in the world is arguably football, and Africa is not left behind. Other popular sports include rugby, cricket, and athletics that have a vast and ever-growing fan base that watches these live events at popular joints, coffee shops, and even pubs. 

There are numerous leagues to choose from in the global market, which is part of the reason why betting is becoming popular there. In some regions such as sub-Saharan Africa, the English Premier League’s audience is in excess of 280 million people. Part of this is because they get to watch their local stars, making them bet with more passion. 

Africa generally has a young population that is very tech-savvy. Coupled with good internet connectivity and mobile money, the betting possibilities are endless here. A majority of this younger generation is sadly unemployed, and any money-making opportunity is grabbed with both hands, which is part of the growing betting platform. 

It is believed that the European betting industry is slowly reaching its full potential, which has forced the majority of betting companies to shift their attention to Africa, offering deals to the locals, which are hard to ignore. It is important to note that not all counties have legalised betting. Bettingbonus.online is a platform that provides players with a list of countries and information about the betting environment there. 

India – one of the biggest markets is starting to develop thanks to accessing budget online services and tech

Sports betting in India has grown rapidly, just like regions in the last decade. Part of this is because of the relaxation of some gambling laws, while the other part is mainly because of the widespread technology in the country and easier access to online services. The introduction of smartphones has a huge role to play in the sports betting boom. A majority of casino  games that Indians love are compatible with mobile phones both on iOS and Android. People are then able to play anywhere and at any time from their smartphones. Gambling in India is highly restricted, however for horse racing and lotteries, which can be played online, the bar is lowered slightly. 

The local government had instructed one organisation to licence betting games, but thousands still operate online despite all these restrictions. These online ones are ones that the government is finding much trouble regulating. India has the largest population of youths globally, which also has a massive role in this. The majority of this younger generation’s interests lie in gambling and digital sports. In fact, 66% of heavy gamblers and 55% of India’s casual gamblers are the tech-inclined young players below 24 years. 

Australia – still underestimated but offers good opportunities in sports betting 

Sports betting is the only form of gambling that has grown in terms of participation rates in the last decade in Australia. It is estimated that one in seven adult Australians participates in sports betting. Part of the reason for the increased betting activities is the growth in online gambling that has offered good sports gambling opportunities. 

The majority of Australians can bet on different sports, with many of those operators being licensed in the country or illegally operating offshore wagering betting sites in order to provide the same services to Australians. It is important to note that not all forms of sports betting advertising are allowed, and they include bonus promotions such as free bets and money-back guarantees. 

Also, sports betting advertisements during general viewing times are restricted. The reason why online betting is being preferred over land-based outlets is because of a couple of factors. They include convenience because the sites are accessible at any time at any location, price as you do not have to travel to the land-based outlets, the comfort of your area, and finally, the massive number of betting options available. 

USA sport betting on the rise thanks to legalization in different states 

In 2018, the US Supreme Court‘s federal ban on sports betting was lifted, allowing the various states to make their own unique laws on sports betting. Since then, states are slowly coming up with regulations to govern gambling. New Jersey was the first to allow sport betting on mobile phones and retail. West Virginia was the second and allowed online sports betting. Indiana followed close by allowing app and online betting. 

Currently, 13 states have legalised sports betting, and they include; New York, Rhode Island, Nevada, New Jersey, West Virginia, Indiana, Arkansas, Pennsylvania, Delaware, Mississippi, and Iowa. Some states have betting laws in place and are just waiting for the games to begin. They include; North Carolina, Montana, Maine, Tennessee, Illinois, and New Hampshire. 

Sports betting is incredibly popular in the USA, with some states surpassing revenues collected in betting paradise Las Vegas. Between June 2018 and October the same year, it is estimated that Americans spent £9 billion on betting. The majority of the gamblers are male, with core betters aged between 23 and 34 years. The NFL is the primary sport that propels betting in the United States. Other sports that drive betting include soccer, basketball, baseball, and hockey. 

What does the future of sports betting look like? 

The future of sports betting is indeed looking very bright. Betting companies are therefore advised to maintain a long-term perspective of the industry. Technology  advances like 5G cellular networks in the majority of the world’s parts are indeed going to play a massive role in the advancement of this industry. As mobile phones become more and more accessible to people worldwide, the industry will grow as it will provide a platform for online sports betting. 

It is also crucial for betting companies to maintain these games’ integrity and security to protect the players. Online betting is exposed to cyber-attacks and hacking, which could pose a threat to the industry. With the number of countries slowly allowing betting into their borders, things can only get better. Positive stories are continually emerging from betting, which helps the industry in creating a name for itself and attract new players. Countries are able to tax betting companies and generate revenue, which is also beneficial for them. 

About SiGMA Europe:
 

SiGMA Europe will take place on February 16-18, 2021. Europe remains a leading market for gaming, making this the perfect opening gaming show for 2021. Join us for the 7th edition of SiGMA at the MFCC – Malta Fairs & Conventions Centre, and explore how you can benefit from being a delegate, a sponsor, an exhibitor or a keynote speaker.

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