Major Trends In The Global Sports Betting Market In 2022
The sports betting industry is arguably the most significant in the gambling sector, with about 26% of the world’s population gambling on sports. The rise of this particular industry keeps increasing annually because of its ever-developing nature, with the chance to make money from sports betting becoming relatively expansive.
As the global sports betting market keeps evolving and witnessing new trends, it’s crucial that bettors also update their knowledge about these trends in order to step up their game and continue making money, or risk being left behind, which is detrimental to their chances of hitting the jackpot when wagering on the betting sites available to them.
Sports betting has now transcended placing bets on the outcomes of specific matches. Gamblers need to know that the betting industry is one of the significant contributors to the development of various economies globally due to the massive amount of money it generates. No doubt, it is now serious business. There are several trends currently making waves in the industry that bettors and operators should know to get the best from their endeavors.
Major Trends Shaping the Sports Betting Industry
Several trends are shaping the sports betting industry that every punter and sportsbook operator must get accustomed to. Some of the most noticeable ones are as follows:
- Live Broadcasts
Every bettor qualified to bet according to the gambling laws of their land ought to be familiar with live broadcasts, one of the top trends in the global sports betting market in 2022, through which online gambling is deemed to have scaled a new height.
Live broadcasts allow punters to follow different matches on the go — streaming while placing several bet options as the game progresses. Bookmakers keep updating the odds every minute as the bettors keep following the sequence of events.
The live broadcast option is available on all sports events but is more common with soccer betting. Aside from experience being exhilarating, it’s an avenue for bettors to keep making a lot of money until the game ends. Options like “the team to score the next goal,” “the minute,” ”over and under”, and more are available through the live broadcast innovation and should be leveraged by savvy punters.
When sports betting first came into being, you could only walk into any gambling house to stake on an outcome or multiple outcomes. However, this has drastically improved in that every betting platform has now gone digital. Bettors can now play games through their phone by downloading the sportsbook app, be it Androids or iOS, and still effectively and efficiently navigate as though it’s a PC.
Punters can deposit and withdraw without issues, irrespective of their location. You can also cash out your money before the matches are completed, based on the kind of online betting platform you choose. The digitalization of the betting industry also makes it possible for gamblers to bet on computerized teams as though they are real sports players. This also applies to the betting platforms since any sportsbook that refuses to upgrade will be left behind.
Placing a bet on a sport is more technical than you think; it’s considered the mathematics of gambling. Hence, the existence of professional tipsters who analyze every game based on the team’s head-to-head, formation, fatigue, and several other metrics. These statistics and their applications are one of the major trends in the sports gambling industry.
Making money is more challenging than losing it, and the motive of every gambler is to make money. Therefore, the analytics provided on several betting sites are of much importance to bettors as it helps them keep track of the activities of a team and aid when predicting the outcome of matches.
Cryptocurrency is gradually taking over the gambling industry. Several sport gambling companies now enable the use of blockchain technology to make and receive payments because of its seemingly secure and anonymous system.
The use of crypto is common in countries where gambling is illegal, and authorities can trace payments for betting and sanction the players and betting platforms. With cryptocurrency, this risk is averted due to its independent and anonymous features. Gamblers in locations where gambling is legal also prefer it to other means of payment because it offers a more secure, fast, and anonymous payment system.
- Mouthwatering Bonuses
The surge in gambling sites means fierce competition in the industry. A recent trend is that several gambling companies tend to attract customers with diverse offers and mouth-watering bonuses to beat the competition and secure a bigger market share.
They go as far as giving out up to 200 percent bonus for new users to in-game bonuses based on accumulated odds which is an ample opportunity for punters to hit the jackpot and make a fortune.
- Virtual Bets
Virtual sports, otherwise known as esports, are gradually gaining ground in the gambling space. The latest trend is the use of computerized players to engage in competition while gamblers wager their money on the matches.
The unpredictability of the events, not minding which team is best, is one of its greatest strengths — winning hinges primarily on luck because all teams are computerized and seen as equal. The games are also decided faster than the normal sports matches, which means you can become a millionaire in the blink of an eye or vice versa if you don’t gamble responsibly.
It’s one thing to know about trends, and it’s another thing to maximize them. This article informs you about the trends in the sports betting market and how to use them to your advantage as the gambling industry evolves.
Punters and betting platforms must keep up with the trends to succeed and remain relevant in the ever-changing sports betting industry. Staking your money on sports is quite different from other types of gambling, where you may be responsible for your own luck most times. Here, you count on others to succeed. Therefore, it’s imperative that you’re constantly updated about the dynamic trends in the industry to stay afloat.
BGAMING DONATES $5,000 TO UKRAINE CHARITY FOLLOWING ICE LONDON PLEDGE
iGaming content provider BGaming has donated $5,000 to UNITED24, a charity raising money for medical aid and critical needs in Ukraine.
At this year’s ICE London, the fast-growing firm gave visitors the chance to receive merchandise featuring designs by renowned London artist Thumbs.
As an alternative they pledged to give $50 to the charity instead, which more than 70 generous partners opted to take up.
After boosting the final amount, BGaming has now pledged to continue its fundraising drive at IGB Live! Amsterdam, SBC Barcelona, and SiGMA Malta later this year as part of a commitment to ‘create positive change’.
UNITED24 was set up by the Ukrainian government to provide a secure platform for donors to raise funds for medical aid, defence and demining and rebuilding Ukraine.
Currently, they are running two medical aid projects which seek to raise money for more urgently needed ambulances in the war-torn country.
At the time of writing, it is estimated more than 8,000 civilians have been killed in the conflict, while more than 13,300 are believed to have been injured.
Catherine Puteiko, CMO of BGaming, said: “Small acts of kindness can have a big impact on the world, from caring for others to creating positive change. BGaming’s recent charity initiative at the ICE London exhibition was a shining example of this ethos.
“Our partners had the option to donate to a worthy cause or receive our branded merchandise, and we’re thrilled to share that this simple initiative raised 5000 dollars for victims of war in Ukraine. Let’s continue to think big and act small to make a positive impact on the lives of others!”
PRESS STATEMENT OF PAGCOR REGARDING OFFSHORE GAMING OPERATIONS
Senate Ways and Means Committee Chairman Sherwin Gatchalian presented the chairman’s report which cited that the risks of allowing the continuous operations of offshore gaming operations outweigh their benefits to the country. Citing R.A. No. 11590, he further states that offshore gaming should be shutdown, now that there is no third-party auditor monitoring their income.
The Philippine Amusement and Gaming Corporation (PAGCOR) would like to reiterate its firm commitment to uphold the integrity of the gaming industry in the Philippines, including offshore gaming.
After determination of Global ComRCI’s default in its obligations and commission of unlawful acts under R.A. No. 9184, a Notice of Decision to Terminate the Consultancy Contract was served to third-party auditor Global ComRCI on March 9, 2023, effective upon thirty (30) days from receipt thereof.
PAGCOR is now in the process of engaging a capable and reputable third-party auditor who can independently and accurately conduct verification of the offshore gaming licensees’ gross gaming revenues.
Further, PAGCOR reassures the public that to maintain the integrity of regulated gaming in the country, the state-run firm will not hesitate to impose appropriate sanctions or penalties to erring licensees or service providers. We will ensure that all revenues from regulated gaming will continue to support the government’s nation-building efforts and uplift the lives of Filipinos.
OnAir Entertainment™: Flexibility of more providers vs. Exclusivity with a single provider
OnAir Entertainment™️, the go-to live casino games provider, has added their voice to the increasing industry concern regarding the negative impact of exclusivity deals within the live casino space.
There has been a growing discussion around the impact of exclusivity deals on operators and platforms, with OnAir Entertainment™ believing that one supplier setups create several limitations for operators. Limitations arising from exclusivity push players to find additional options from more diversified live casino offerings. It’s known that players prefer websites with more content choice, allowing them to search for the games they want to play – player freedom is vital to maximizing cross-sell and therefore increasing platform revenue.
Do exclusivity agreements truly fulfil the promises and needs of the industry? Markets need to change rapidly, adapting to new and more restrictions on operators, which requires sufficient flexibility and creativity. Can an agreement set in stone, determined by a single supplier and based on a rigid commercial model, be flexible to a regulatory landscape that is constantly shifting and help operators to be competitive?
Given the global nature of the biggest operators, multi-supplier deals also mean that they can test out different games across markets and not be forced to stick with one product globally. Less exclusive deals allow operators to be much more agile when operating internationally, as localization needs must not be ignored. A key part of OnAir Entertainment’s™ product offering is the ability to input customizable elements within their digitally branded and localised environments so that operators can reinforce and scale their brand together with OnAir Entertainment’s™ tech. While also using reasonable commercial terms so our operators can test audience response in branded environments with low risk before committing to more sizeable projects.
There is no doubt that the variety of live casino suppliers continues to grow, causing increased industry competition and that this competition pushes continued innovation within the iGaming industry. It is this belief in constant innovation that is at the core of all OnAir Entertainment’s™ operations. By continuously developing improvements in UI design, 3D animations, allowing for localization and the incorporation of brandable elements – OnAir Entertainment™ hopes to increase user engagement and player experience.
Seval Alev Kaya, Director of Business Development at OnAir Entertainment™, said “Innovation is at the heart of our operations, and our main priority is to provide maximum flexibility for our clients. Operator differentiation is directly linked to content diversity and harmony. We see that many operators are trying to widen their audience by adding more casino vendors, especially in live casino space in order to reduce the need for a single vendor that comes with unfavourable terms, high costs, and limitations. We are the alternative solution with a service-minded approach, invested in our client’s growth.”
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