Sports betting sector is well-worth investing as several different researchers among which are some Research N Reports analysts who have predicted that the market is to expand more online and ‘grow at a CAGR of 8.2%’ during the next five years. CAGR is an abbreviation and stands for compound annual growth rate. According to Emily Chan from Harvard Business School, it is particularly useful to compare growth rates from various datasets of a common domain such as revenue growth of companies in the same industry. Several former big-name companies with more potential than many might have guessed are there, but also many new exciting prospects in this field that have the potential, creativity, and most importantly the ability to reach the stars. Some old sleeping giants such as Intertops which was the first online sports betting community, and on the other side, Mozzartbet, a relatively young company established back in 2002 in Serbia, are lurking out in the market. The first one concentrated probably more on the casino world, and this could be the reason of their stagnation. However, the reason why the second one has not developed as much as it could have is in the fact that they did not set their sights internationally and their website does not offer proper English language support or even options in the most used world language when it comes to sports betting. Nevertheless, both of those two giants are potential surprises in the world of the top bookmakers.
There are some indicators we would be able to analyze to see whether the rise of the sports betting would be a real thing and if it would be then what might cause such an increase in online sports betting.
If we take a look at the graphic above, we will see that sports betting is not that much ahead of casinos which could be one of the reasons why specific gambling sites focus more on online casinos. Casinos together with table games have a clear advantage over the sportsbook!
Still, this lead in front of the sports betting could change to a drop back soon. Our world is becoming more and more digitalized nowadays. With millennials maturing, betting shops will most likely end their career. If not, they will become less popular than they still are which could potentially lead to the extinction of such spaces.
Analyzing the offline spaces such as traditional casinos and betting shops, we can now see that a future modernization and the turn to online spaces could make sports betting running victorious ahead of casinos and table games. This short analysis shows us that the future might be bright and shiny for the sports betting field and that investing in online bookmaking business could be a great idea and, potentially, the jackpot of your life!
PS Graphs showing statistics were taken from onlinebetting.org.uk. We do not own any of those nor did we take part in such research. This article was originally published on Nov 19, 2018. For more info, see the link: https://lejich.wordpress.com/2018/11/19/sports-betting-online-an-economy-on-the-rise/
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