The size of the global sports betting market continues to rise. In fact, it is among the fastest-growing sectors, offering tremendous opportunities for both sports lovers and betters. Along with the digital revolution, the sports betting market persists to undergo dynamic changes, extending and obtaining its way into overseas markets.
The massiveness of sports betting market
It is important to acknowledge that the sports betting market’s total size is hard to assess since it is inconsistent with regulations and data collection. There is no definitive tool or accurate resource on which researchers may depend strongly, from nation to nation. Records are too diverse to draw a full image that is precise. That said, it does not indicate that accurate estimates are not available. It is reported that international sports gambling has a market capitalization of $250 billion, which is a huge number! And after being legalized in more than one state, the market has been rising again and again.
How much will it keep on growing?
Sports betting currently accounts for even more than 40% of worldwide gambling income; more than any other section including lotteries, casinos, poker, and other gaming forms. While all the attention is in the USA and Asia-Pacific regions, sports betting in other parts of the world is still expanding. Although, its development in Australia and Europe might not seem rapid or noticeable, it is probably due to the unpleasant long history of sports betting in these areas.
Online betting is so prevalent these days that it is a component of most news stories about gambling. It’s getting easier day by day since it became legal in many places. A powerhouse in the industry, Judi online was the first online platform to offer such chance, and many other online platforms started to boost their services around the world.
Together, online sports betting and online gambling, unlike any other gambling, has seized the world by storm. Sports gambling alone in the US is a multi-billion-dollar business, amid illegal operation in a large part of the country.
The future of sports betting
The expected significant growth figures for sports betting were large due to the expansion of the internet around the world, resulting in investment by sportsbooks in their digital platforms as a response to online sports betting demand.
Connecting to the internet has never been easier for people around the globe and digital sports betting penetration extends beyond laptops and desktops. Twenty percent of sports bets now take place over mobile phones. As the year has progressed, however, there has been much talk about mobile betting or what you and I would call “online betting.” Is it legal? Is it the same as a casino bet? If you’re in another state, can you place a bet online? Well, of course you can!
Technology has improved our way of working, our way of playing, and our way of living. The way we bet on sports is also transformed. We’re not sure what the next breakthrough in the digital revolution will be, but we’re sure it will make sports gambling bigger and better.