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What the Future of Sports Betting Looks Like Today

The year 2020 has been tough for a lot of industries and the sports betting scene, it is no different. There was a point last year that major sports events were either canceled or postponed.

The betting industry felt this hard as many operators didn’t have plenty of odds to display for their customers. Some even have to get creative and focused on entertainment and political odds instead.

Fortunately, that situation didn’t last throughout the year. Since June of last year, plenty of sports events were able to make a comeback like the English Premier League, the NBA, and the Indian Premier League. Many other sports also resumed and so Cricket Odds and Betting Leagues in India and many other countries became more available to punters.

Even if the industry has experienced a lot last year, it’s still not all bad. This is especially for the online betting sector. Many land casinos and bookies were forced to temporarily shut their doors because of the pandemic. Some are even closed until today and it’s hard to tell whether these establishments will open any time soon.

The Rise of Online and Mobile Betting

The closure of gambling establishments has made online platforms soar faster last year. It still should be pointed out that the online sector has been steadily growing even before the pandemic. However, lockdowns have also boosted the growth of this sector. When major sports leagues returned last year, people started to place their bets online with their mobile devices.

It’s easy to understand why more and more people are starting to switch to gambling with their mobile devices. It’s not just because we are still dealing with a pandemic. There are multiple great reasons why punters are suddenly becoming more interested in placing their bets online.

It is mainly convenient for many as they can now place their bets without the need to drive to the nearest casino or bookie. In-play or in-game betting is also made easier because of the internet and mobile technology. Apps can quickly update the odds and so even if they are only available for a few seconds, punters can quickly place their bets. Payment solutions have also been easier online. Punters now have plenty of options on how they could deposit their gaming accounts.

Trends to Look Forward to in the Sports Betting Scene

With the growing popularity of sports betting and as it becomes legal in more countries, services are being developed to be able to cater to the needs of the customers. Here are some of the trends in the betting industry.

  • Online and Offline Betting Together

Many would say that online gambling will eventually kill offline gambling. Well, it’s hard to conclude that this will be the case. Land casinos and bookies are also making sure that they stay in the competition by integrating interactive technology to modernize their services.

This is something that gambling establishments have already and are already working on. When you visit some bookies, punters no longer need to line up to place their bets. Betting terminals are already available. Some of these terminals are technologically advanced that punters could watch multiple live streams at the same time as they place their bets.

  • Esports Betting

2020 has also been good to the esports betting sector. The lack of professional sports events last year made people and betting operators shift their focus towards this sector. While esports gaming has had a following even before the pandemic, it was slowly growing. The pandemic has also boosted this platform as esports can still easily take place with social distancing.

Computer games like DOTA, FIFA, Call of Duty, League of Legends, and Counter-Strike are some of the most popularly played in competitions. It is estimated that this marketplace was able to generate more than 1 billion in global revenue last year. 

  • Cryptocurrency Betting

The use of cryptocurrencies like Bitcoin, Ethereum, Litecoin, and many more is increasingly becoming popular. Cryptocurrencies have made quite a noise in 2017 when the value of Bitcoin peaked at around 20,000 US dollars. However, 2020 has also been great for cryptocurrency users. 

As of today, the value of a Bitcoin is now over 35,000 US dollars and many believe that this would still grow in the next few weeks or even months. With that, more people and businesses are becoming more interested in its use including the betting industry. There are now casinos and bookies that exclusively cater to cryptocurrency users.