Online sports betting industry, like any other industry is continuously transforming and adjusting to environmental, business and technology changes. If we think about sports betting itself, moving to an online mode of betting has been a transformational journey for the business. It has become much more popular than it once was and in order for players to remain relevant, it is imperative to stay up to date and ready to adapt to these changes. Sports popularity across various sports has been increasing over the years and viewership has increased manifold. This has also benefitted the sports betting industry and the business has also grown manifold. Let us look at some of the major trends in online sports betting in 2020.
eSports may not be physical like most other sports, but they have given a huge boost to the betting industry. They’re highly competitive and that gives grounds for betting industry to prosper. The edge that eSports have over conventional sports is the ability to host events in the worst of circumstances. While people being stuck at their homes has delayed most sporting events, eSports remains unaffected and are doing just fine. Many authorities are also looking at eSports as a means to curb cheating.
Earlier, people betting on players had to go to various forums to research the players and make educated bets. While information was available but information was not as accessible as it is now. The introduction of good betting sites has given a great tool to these people because it allows tracking of all information related to the player, all at one place without the need for searching across various platforms. With further advancements, it might become possible to track the player performance using smart wearables. This will help punters place more accurate bets with a more thorough analysis.
Technology has revolutionized all industries. While earlier betting used to be done by manually visiting the stores and buying tickets, it has now moved to online sports betting portals. For instance, now you can avail the best UFC betting odds, from right within the comfort of your living room! This has completely changed the betting game. Furthermore, earlier people had to buy their tickets in advance but now with online betting, they can bet on something down till the last minute, and even as the action unfolds on the pitch. While seasoned punters are generally experienced enough to place well-informed bets in advance to register maximum profits, most beginners opt for last minute or live bets.
Opening of the US Market
Countries such as UK and Australia had already made betting legal but US was still undecided and this was a major roadblock in adoption of online betting websites. But lately, many states in USA have started to allow sports betting and have been looking at it as a source of revenue. With USA coming to the fold, eSports as well as regular sports betting seems to have a bright future ahead!