It’s no secret that online gambling is bigger than it’s ever been. With an average growth rate of over 8% year on year and expected to surpass $135billion by 2024, online betting has not only grown dramatically but sees strong growth for the future as well. In the below we will look into why this growth has taken place and what makes online betting so alluring for bettors the world over.
More and more people are starting to bet every day. Not only those who have just now caught on to the online betting market but millions of people who are coming to age every year. With the emphasis that high schools and universities have been placing on sports in the last few years, it only makes sense that a lot of the young adults are extremely interested in sports and have great knowledge as well. This can be considered the perfect situation to create good bettors and with the convenience of online added, the likelihood of the betting pool growing is so much more.
For an example of betting pool growth, we look at the American Super Bowl. The Super Bowl from 2019 to 2020 saw an increase of 63% in online bettors. More than double the online betting pool growth in one year from a single event.
Access To Information
While we can say that online betting has grown as dramatically as it has simply, because it is there, another massive contributor to the rapid growth is access to the information. With most sports today being live streamed on YouTube or some other platform, the access to the games is greater than it’s ever been. This effect has snowballed since the pandemic hit, making even bettors who prefer to do so in person switch to online sportsbooks.
Another key element to take into consideration is the access to information other than the game itself. With social media running deep into our current online culture, almost all of the teams and players have their own social accounts with which we can get a lot of information nobody has had access to before. Things like injuries, exchanges and state of the players are now a few internet searches away. The sometimes-scary amount of information we have access to at any time has not only made more bettors, but better bettors as well.
There are very few arguments about the benefit of online sports betting that don’t include the sheer convenience offered by online betting. Being available from virtually anywhere on any smart device you may have on hand, online sports betting is truly a form of modern convenience exemplified.
From your mobile phone to your computer and even your smart TV, not only is it convenient in access but usually built to favour an easy and satisfying end user experience. Convenience itself isn’t always enough, when paired with the easy access to information and most sports being live streamed in one capacity or another, it is surprising that there are still traditional, in person punters left.