The global sports betting market was able to reach over 85 billion US dollars in 2019 and it is known to be around 30 to 40 percent of the global gambling market. It is projected to grow up to 608 billion by 2027 and the online betting sector is also expected to healthily grow in the next five years.
Last year has been quite tough for the gambling industry especially in the sports betting sector. Because of the pandemic, many major sports events last year were canceled or postponed and with that, there were times when bookies didn’t have much odds to offer to their customers.
Fortunately for sports fans and punters, sports events were still able to push through before the year ended. Major sports events like the English Premier League, the NBA, and the IPL were still able to resume their respective seasons. Fans were then happy to be able to place their bets on an online cricket betting app and other online bookies.
How Online Betting Did Last Year
Plenty of land casinos and bookies were forced to temporarily shut their doors when the pandemic started. This is one of the main reasons why more people turned to online betting last year. Even if there weren’t plenty of sports to wager on when the pandemic started, online bookies still made sure that they had something to offer to their customers.
Many online bookies started to get creative by offering odds on non-sports events like entertainment and politics. This kept some of the online bookies running as there were punters who were interested in this.
Aside from non-sports events, more people also started to wager on esports last year. There were plenty of esports tournaments that we’re able to push through despite the lockdowns and because of that, esports has also gained more following.
Esports has been slowly growing over the years and we can say that the pandemic just boosted its growth last year. Experts say that even if professional sports are now back on the scene, esports will most likely be more popular this year.
Why People Are Now Placing Their Bets Online
There are different reasons why many punters would now prefer placing their bets online. Aside from the fact that there is still a pandemic and many bookies remain close, here are some of the great reasons why people are now betting online.
- Accessibility
Back then, punters take the time to visit the nearest bookie to be able to place their bets. For some, it could be a few minutes of driving, but for others, it could also be hours of driving. However, today, punters can place their bets anywhere they are as long as they are connected to the internet.
It’s also now easier for punters to shop for odds. If you’ve already wagered on sports before, you know that bookies, online or not, would offer different odds on the same sports event. Before online betting, punters didn’t have much choice when it comes to this. Shopping for odds is now easier because it’s easy to jump from one betting site or app to another.
- In-Game Betting
Because of the internet, in-game or in-play betting has become more popular. Betting in-game means being able to place bets on odds that would change as a match or game progresses.
It was hard to facilitate before online betting, but today, bookies can easily display fresh odds in just a matter of seconds. Punters can now also place their bets without lining up and so it’s only a matter of deciding for them.
- Promos and Bonuses
While traditional bookies and casinos would offer promos and bonuses to punters, online betting operators are more generous when it comes to this. Gambling companies are in tough competition when it comes to getting new customers and the most that they could do is to offer enticing bonuses to new players and loyal customers.
It’s also much easier to shop for promos and bonuses if you choose to bet online. If you want to make the most out of your betting money, go for bookies with the best offers. Well, the best offer will still depend on your gambling needs. If you don’t bet that much, then it’s best to take advantage of a welcome or sign-up bonus. However, if you intend to bet more in the future, go for online bookies with great bonuses for their loyal customers.