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Sports betting on the rise

Posted on | February 8, 2013 | No Comments

Latest reports from the sports betting and online casino industry conclude that sports’ betting is on the rise. Here we will look at some of major trends that are affecting sports betting revenues.
Mobile sports betting is having a significant impact on the market and is changing the whole demographic of sports bettors by bringing in a much younger group of participants. The ability to make bets at any time, in any place and to stay current with up to the minute information is a big attraction.

In play betting is another expanding area and new technology has improved user experience considerably. It is particularly applicable to specific sports, but there have been occasions in recent times where it has gained a tarnished reputation because of corruption. However it seems to have recovered from that and is trending upwards.

Both the Olympics and Euro 2012 have had a large positive effect on the market even though all the bets on who would light the cauldron at the opening ceremony were refunded. However, while betting on Olympic sports generated significant revenues, there was also a negative effect on other forms of sports betting with some operators reporting an overall dip in revenues.

Sports betting is increasingly being seen as an alternative to speculating on the stock exchange. Many of today’s sports betters are highly sophisticated and are finding that they can make more money from that than they can from more conventional investments.

Horse racing is one area of sports betting that is currently in decline. It seems that the principal problem is the inability to attract young people to the horse racing scene. British Horse racing has made several attempts to do so, but have fallen at every hurdle. It seems that horse racing simply does not appeal to the younger generation, and the reason is that probably there are just too many alternatives on offer.

Last year saw sports betting revenues rise to £800 million, and it seems that the rising trend is set to continue for the foreseeable future.

With the Cheltenham Gold Cup edging closer and closer would you like to check out the latest betting odds and news surrounding the event? Make sure you check out Betfair today!



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