Sports Betting Becoming A Business
The de-regulation on gambling by governments has spawned a tremendous growth in the sports betting market.
This shift in governments’ policies have created extremely lucrative opportunities for gambling businesses around the world.
Apart from the few countries where betting is banned, gamblers now can participate in any betting opportunity from any part of the world through just an online platform.
The gambling apps and social gambling has made it far more easier for gamblers. The increasing penetration of the internet with the rapid rise in mobile phone uses are being exploited by the betting companies through innovative social gambling games.
The increase in deregulation is particularly significant in the US market which has a huge potential for growth.
A Statista survey says that in the US almost 50 percent of people aged 18 and above have participated in betting at least once on a sports event.
The percentages are even higher for those who watch March Madness games.
The global gross gambling is estimated to be crossing 400 billion dollars per year. Asia is the hotbed for gambling in particular sports betting with about 1/3 of the global gambling gross wins.
It is seen that the online category of gambling is the fastest growing part of the gambling industry. The global online gambling market has seen a sharp rise from 20 billion in 2009 to now 40 billion by 2016.
In the overall gambling market, the sports betting market has the largest market share with 40 percent of the overall gambling revenue in the world. Sports betting mixed with free bets is becoming very popular in the industry.
The betting intensive games are the mainstream sporting events of football, horse racing, basketball, grey hounding, cricket and golf. But the less mainstream sports are also
potentially profitable for betting like Tennis, MMA and Ice Hockey etc.
The landscape of sports betting is highly competitive with many large well-established players dominating the market.
The competitors battle to provide more and more gaming options to their players for gaining competitive advantage.
In order to survive this tough competition, the big companies are striving for new ideas, technologies and updated information regarding licensing procedures and policies etc.
The fastest growing online gambling industry is two decades old now. In these 20 years, a number of new companies have appeared on the scene to increase the already tough competition with business giants that were in the market since before the 1990s.
One of the these new companies is the Canadian Amaya Group which is now the largest betting company in Canada.