Online betting is absolutely huge, sometimes it’s difficult to put into perspective just how big it has become – as a whole the online gambling market is already worth over $60 billion per year with expected growth set to continue as our lifestyle becomes more digitally focussed and we transition more and more into mobile application usage – the revenue forecast for 2027 has the market set to reach a value of $127 billion, with expectations that this could be accelerated.
There have been some efforts to slow this growth, recent changes within regulation and initiatives such as the Gamstop initiative are aimed at reducing participation options for players by making it mandatory for all operators to register with the scheme, other changes such as a recent credit card ban for betting online within the UK have also had an impact, but as operators find ways around these restrictions through methods such as registering their business away from the change such as those found at Max Casinos, other options are starting to open up to players. But what has led to online betting becoming so big?
(Image from teachradar.com)
Alternative sports popping up – One of the bigger factors may be that alternative sports in the e-sports world are popping up – whilst there are many options for online betting for regular sporting events, the rapid growth of esports has definitely had an impact on the betting market as a whole as it has introduced fans to a wide range of new events to bet on – just amongst the big three there can be upwards of 20 major events per year through all regions and have spurred huge growth.
Traditional sports moving away from tradition – Another factor to be considered is that many more traditional sports are slowly moving away from more traditional methods – although many had been tied to exclusive deals with certain channels and broadcasting options, others are starting to adopt the newer methods of online streaming and broadcasting options that allow these sporting events to reach a wider audience without needing to compromise on quality.
There’s just more to watch – And of course there’s also the factor that there’s just more to watch and more taking place than before – traditional sports, esports, combat sports, there’s so much filling our time across all timezones through different countries in the world meaning that there’s likely always something on to watch, and in hand always something to bet on. Just within esports, for example, new games pop up every few months or so that may gather a wider audience and provide a growing number of betting options to fans.
As with all things though it is important to take this in moderation – especially during the current lockdown measures and as we move forward with many events taking place at an increased schedule, so be sure as always to bet and gamble responsibly and if you need to take advantage of some of the methods mentioned earlier then be sure to do so.