Is Sports Betting Relevant in 2021 1634810758 400x254 - Is Sports Betting Relevant in 2021?
October 21, 2021

The rapid development of the Internet has transformed the betting business in just twenty years. The appearance of online sites has become the next stage in the development of bookmaking. This market continues to grow, increasing the volume of bets by 6-12% every year. It depends on the development of the Internet. The more access points to the global network appear, the faster this market grows. See, the total market volume is estimated at $34 billion in net profit per year!

Read our guide to find out about modern bookmakers and to understand the relevance of sports betting and the main trends in 2021.

Current State of Sports Betting

With the pandemic, gambling has had losses as some events have been suspended or canceled. Most people shifted to online casino games or sports betting,  for example, they chose to play Teen Patti online game in a casino or enjoyed a DOTA 2 game at home.

While the betting industry has slowed down, the newest trends continue to emerge, guaranteeing a better experience for players. Bookmaking is still the largest source of income in gambling. The industry celebrated a record year, earning $1.5 billion in the U.S. alone and getting $240 million for treasuries. So, here are the main trends worth paying attention to in 2021.

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Data usage

With the development of the Internet, huge amounts of data have become available to everyone. Modern technologies allow analyzing huge databases for collecting information in various industries.  Bettors use big data to bet on the most likely markets, and on the contrary, casinos use it to determine odds.

Bettors can take advantage of such algorithms to develop a betting system focused entirely on data, although operators soon discover such players.  As soon as bookmakers spot someone who wins consistently, they resort to discriminatory methods, like limiting the number of funds you can bet on.

  • There is also a growing trend of gambler tracking, in which bettors can track player activity at the time of playing. The data mainly concerns their training sessions and physical fitness statistics, which can be useful in guessing the results of separate players.

The Development of eSports

The new sports discipline that flourished in the conditions of the pandemic is eSports. Millions of viewers gather in front of their PC screens to observe how the best players or teams compete for big million-dollar prizes. The fact that the audience of cybersports is mainly teenagers, and young people, only adds to growth.

  • There is a serious problem that betting young people are under 18. Hence, significant growth will not stop.
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Along with eSports, the trend towards wagering on virtual sports is also growing. Instead of placing bets on their favorite teams that are real, players prefer to bet on pre-programmed events based on records.

Bid Automation

Bookmakers resort to technology to maximize their efficiency. To spend less time betting manually, they chose to automate the process. By generating rule-based tactics, they can bet on fixed terms that match their usual strategy. Thus, players can bet on not previously adjusted odds, and this increases the profits.

More Live Broadcasts

Although live broadcasts have been used for many years, many companies are updating their services and adding more live broadcasts of even the most niche events. Several casinos have added a real-time betting feature to their platforms. Live broadcasts make this easier by tracking matches on demand.

  • The experience is greatly enhanced as you can place bets while watching and this gives you extra chances to win. The days when watched matches on TV are long gone, as companies make sure that their live broadcasts meet licensing requirements and are of proper quality.

Last-minute Bids

Since people’s lives are becoming busier, last-minute bets have become popular. Currently, most websites simplify this process by letting bets be placed a few minutes before the event ends. Also, new players who can’t decide what to wager on can use it. High-end technology made it possible to make last-minute bets in almost all offers of major sportsbooks.

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Cryptocurrency

With the development of blockchain technology, companies started using this technology as a payment means. Tokens provide instant transactions and secure payments. Players remain anonymous, and this is one more benefit of digital money.

The Return of Big Events

The suspended Olympic Games in 2021 in Tokyo, the Football Championship of Europe, and the latest return of the NBA and MLB mean that this year will be thrilling for sports betting. Everything seems like going back to normal, and we can expect a remarkable increase in industry proceeds.

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