Sports betting has become very popular in the entire world. Many people like to make sports bets during huge sports events like championship games, March Madness, and boxing events. It is a betting industry that has been continuing to grow in recent years. Sports has been becoming a way in which is a gateway into gaming.
Sports Betting and the Gambling Industry
Sports betting is expected to become huge in the casino industry as time goes on. Even though sports betting is expected to continue to grow, casinos will still be able to perform strongly.
Playtech has announced that it will be focusing more on sports betting despite the fact that casinos have been their most successful all the way up to this point. Their casino revenue has reached €177m. Revenue for their sports betting has reached €17. 7m. Recently it was reported that the company has gained an interest in acquiring OpenBet. OpenBet was sold to NYX Gaming Group for £270m back in the month of May. Also, it has been reported that Playtech acquired a 90% stake in Best Gaming Technology for €138m in the month of July. NYX and Playtech have both realized how important sports betting is. Both companies have also realized that it is useful for a battle in supremacy. With the way the industry is going, it only makes sense for sports betting to become increasingly lucrative for their providers.
Is Sports Betting a new Trend?
No sports betting is not a new trend. It has been around for a while. However, now many people have easier access to sports betting thanks to the technology of today. The industry has been able to embrace new trends this year through i-gaming.
There are some poker players who would argue that rush poker and Spin & Go have been doing their best at driving that vertical that is needed for them. However, poker operators have not been able to exploit areas like for instance TV advertisements during football matches. Sports-betting operators can enjoy football matches.
New Jersey and Sports Betting
There are not many opportunities for sports betting to take place in the state of New Jersey. Even though as of now there are very few sports betting opportunities in the state, the state is viewed as a potential savor for the casino market. Online gambling has been a success in the three states they are legalized at in the United States. However, the online games only provide a few opportunities for Playtech. In the United States, there is only one form of betting that can be seen as growth, well in a regulated sense since the American Gaming Association is predicting that there was $149 billion wagered illegally for U. S. sports in the year of 2015.
Why is Fantasy Sports Becoming Regulated in the U. S. At a Rapid Pace but Online Gambling Isn’t?
Fantasy Sports has been a huge success in the U. S. The revenue for Fantasy Sports is expected to grow to around $8 billion in the country, by the year of 2020. Fantasy Sports has been around for a while, but it did not become popular until recent years in the country. As of now, it is making more money than online gambling. Also, it is an industry that has been growing every single year. Now it has been becoming a global phenomenon.
Great Britain and Sports Betting
Sports betting in Great Britain has also been showing a lot of strength. The Gross Gaming Yield total revenue from October of 2014 to September of 2015. Gross Gaming Yield makes up about 61% of their market.
The sports betting industry has been becoming a huge force globally. At this moment, it does not seem like it is going to stop anytime soon. Sports betting has been getting a lot of interest from the young people. A lot of this is due to the fact that bets are often at times done with some form of knowledge. Usually when a person makes a sports bet, they usually have some knowledge about what they are making a bet on. Also, a lot of young people love to watch sports. Sports is very entertaining for many. Also, there are many who love to participate in a sport. There are even sports games that are treated like holidays, like for instance the Super Bowl in the United States. In the United States, many families get together and eat while watching the game. The sports betting industry has been able to capitalize well off of sports leagues like the NFL and the MLS. If those sports leagues continue to grow along with others, there is no telling how big the sports betting industry can potentially get.