People want easy money rather than working hard in hopes of getting quick returns. And this is the very fact that gives rise to the vice of online betting. The main reason why it has risen in recent times is the increasing digitalization. The esports industry is generating excessive revenue through games that involve high betting like Cricket, Football, Golf, and Horse-riding. The main sources through which people gamble are the betting apps and desktop gambling games.
In the year 2018, gambling was legalized by the Supreme Court which gave the online sports betting market a boost. According to a report by Grand View Research, the online sports betting market will reach 102.97 billion USD by 2025 with a CAGR of 11.5% from 2019-2025.
So, let’s check out the scope of the sports betting market!
- The business of online gaming has been gaining rapid success during the years because of the advertisements through which the companies promote online gambling. You just have to click on their advertisement, and they will redirect you to their websites, where you can bet and earn. Whatever these online sports betting companies earn, they reinvest 70% of it in making their business more popular and through modern techniques, they attract more users. However, the government has imposed many restrictions on advertising online gambling but still, there are ways through which the online gambling market has been gaining immense popularity.
- By paying real money, customers are offered excellent gambling services which in turn allure more gamers who want easy money rather than working hard. The online betting market remains open 24/7 and they facilitate payment through safe gateways which allures more customers.
People not only bet on sports for fun but for making a living out of it. For some gambling is a profession, believe it or not. The professional bettors do not place bet randomly, they understand the game of gambling very well and place bets after doing the mathematics behind the game.
- Many desktop-based gambling games are available on the internet which can be easily installed in your system with just one click. Not only gamers, everyone is passionate about earning easy money online. And these online betting games are an opportunity they want to take with both hands. Over the last decade, much new gaming software has been launched by the online betting companies, such as Indian sportsbook online – 10cric, which gamers found in search of entertainment. These desktop games are designed keeping in mind an innovative approach so that it lures the user to place high bids.
- Mobile gaming apps are another cause like desktop gaming software that contributes to the growth of the online betting business. In this modern era, obviously, everyone got a Smartphone and betting games are available on the internet everywhere. All you need is an internet connection and you can start betting. Payment on these mobile apps is safe and quick as it demands biometric verification and no one else can replicate your fingerprint. Mobiles and internet connection are now accessible to everyone and playing online betting games does not demand anything else.
- Online betting companies hire celebrities to promote their newly launched software or new tournaments that are going to be held. Celebrity endorsement has always been an integral part of online betting sports. Celebrities are the reputed persons who leave a huge impact on the viewer and helps the online betting companies to grow financially. Not only celebrities, but companies also sign up a sportsperson to promote their company. Their presence leaves a huge impact on the player and helps the betting company to reach new heights. They play a big role in maintaining a good image of the company.
Online betting markets make huge profits every coming day and with the help of the money earned, they reinvest that money and earn more. With an increasing number of users every day, online betting companies are being richer.
All the factors that we mentioned above are contributing more to the growth of the online betting market. Through popular YouTubers also, the companies are trying to advertise their brand name. It is quite clear to them that the new generation is more towards making money smartly than working hard.
The online betting market will be huge in the coming years. It already reached almost $50 million in the year 2017 according to a report by Grand View research.