The global sports betting industry continues to boom and its upward trajectory looks set to continue for the foreseeable future.
Advancements in technology have helped to spawn a plethora of new sportsbooks, all of which are fighting hard to grab a piece of the action.
Easier internet access offered by smartphones has been a key factor in the growth, making it easier than it has ever been to have a look for the latest promotions or place bets on sports events.
Read on as we assess three of the top trends in the sports betting industry that will help to power further growth over the next few years.
United States set to enjoy major betting boom
The decision by the Supreme Court in 2018 to lift the federal ban on sports betting has led to a massive rise in revenues for gambling operators.
States like New Jersey and Pennsylvania have been leading the way in expanding their sports betting offering and many more are expected to follow suit.
Experts have predicted that around three-quarters of states will have taken advantage of the new legislation by 2021, thus laying the foundations for the sector to enjoy huge increases in revenues.
The global compound annual growth rate in the sector is predicted to be around 10 percent in the next few years, with much of that figure expected to be generated by the US.
Instant betting opportunities on the rise
With mobile devices helping to attract a younger demographic of punters to sports betting, gambling firms have been forced to look for innovative ways to keep them engaged.
The popularity of live betting highlights that people are seeking fast-paced action and that trend is likely to result in the rise of ‘instant betting’ opportunities.
The markets allow punters to bet on an upcoming occurrence in an event such as the next team to get a corner in football or the winner of the next point in tennis.
These types of wagers can easily be transferred to many other sports and they are expected to become far more prominent over the coming months.
eSports is a growing phenomenon
eSports have truly crossed over into the mainstream and are now beginning to make big waves in sports betting circles.
Most gambling firms cover eSports to some degree, but increased levels of media coverage will force many companies to ramp up their offering.
Games like Counter-Strike: Global Offensive and NBA 2K lend themselves extremely well to sports betting and they are not alone in that respect.
With major sports clubs falling over themselves to link up with their eSports counterparts, it will naturally follow that betting brands start to forge their own partnerships with the industry.