Online betting has been expanding rapidly for the last five years. And as more and more people gain access to the Internet and mobile devices worldwide, the industry is projected to snowball even further.
In the meantime, here are eight predictions that will probably dominate the world of sports betting this year.
Betting to takes off in the US
2019 was a wild year for sports betting in the US. At least twenty states legalized the industry while fifteen more proposed similar bills. Enormous tax revenues, jobs and a growing trend to embrace gambling are some of the reasons powering the wave of legal sports wagering in the state.
Revenue wise, states expect to earn $1 billion from gambling taxes in 2020, up from $800 million in 2019 and $249 million in 2017. Despite that, experts believe the industry is yet to take off in the USA. Case in point, stocks from sports gambling establishments, including the MGM resorts didn’t pick up until late last year.
MGM stocks tied to sports betting, for example, increased by 3% in 2018. S&P 500 had a relatively better growth at 20% while Pen National Gaming plunged by 15$ between 2017 and 2018. But all that changed within one year.
In 2019, some stocks for sports betting companies jumped by 50% or more. Pen National, for example, regained growth in 2019 and appreciated by 38.75 by December. If that continues, betting will be an enormous industry in the US in 2020 and beyond.
ESports Betting to Skyrocket
2019 was the year most people learned about eSports betting. For some, a 16-year-old winning $3 million playing Fortnite was when they showed enthusiasm to the industry. Betting fans might have seen eSports on their favorite bookie sites earlier than that.
Regardless, eSports betting could also take off in 2020. It’s now a $1 billion industry and it’s spreading faster than ice hockey and football. Analytical firm Statista says about 450 million people identify as eSports fans and a billion more people identify as gamers.
As the eSports industry grows; so will the betting aspect of it. Already, some of the most well-known betting firms provide eSports wagering markets each week. They have also been investing in data collection and organizational tools now that lack of enough information is a major reason why people avoid eSports.
The legalization of sports betting in the USA will also impact eSports tremendously. Most professional video game players depend on sponsorships to make money. And while many brands are tapping on the industry. The presence of betting brands will help it augment even more.
More Bookmakers to Integrate Casino Software
If you’ve been keen, you might have realized sports betting isn’t the only service at most renowned bookmakers. More and more bookies are adding casino software to their websites, and this will continue to happen in 2020.
Competition is rife in the world of online betting. So, for any one company to succeed in this environment, it has to be creative and open to new ideas. Paddy Power, Ladbrokes, 888 Sports, and other leading bookies have been offering casino games for a while.
But many new gambling firms start as either betting sites or online casinos. There are lots of good casinos and betting companies. One of our favorites is Super Wins. It’s licensed by the UKGC, features an impressive 95.74% payout rate and welcomes new players with bountiful bonuses.
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Bookmakers to Think Personalization
Personalization was a trendy topic throughout 2019, more so, because it was credited for helping many brands succeed. On the other end, companies that failed to catch up with the trend recorded declining sales.
You’ve probably already experienced personalization at some bookie sites. Do you use a betting site that supports your native language? Do you make payments to an international betting firm using your country’s favorite banking option? You’ve been reaping the benefits of personalization.
In 2020, betting firms will continue to think of ways to customize their services to players from all parts of the world. If you live in Kenya, you’ll probably start to use M-Pesa for payments even when betting on UK-based bookie sites.
Speaking of which, are you looking for active betting companies in Kenya? Check out this Kenyan betting guide that lists all the best sites available in 2020. Learn about a few companies that accept both Airtel Money and M-Pesa for payments. Grab welcome bonuses and wager on a wide range of games each day.
In-Play Betting to Dominate
So far, in-play betting has been a niche popular with young bettors. That is bound to change in 2020. Not will live gaming mushroom but it could also grow bigger than conventional betting. People are increasingly experimenting with live betting. And as more bookmakers support the feature, it will dominate betting forums this year.
Of course, in-play won’t replace pre-game betting any time soon. Not everyone appreciates the roller coaster of emotions that comes with wagering live games. And considering odds in live games fluctuate tremendously, some people will avoid it.
Mobile Gaming to Continue its Growth
Similar to in-play betting, mobile gambling is another trend that dominated 2019. Virtually every self-respecting bookmaker launched an app or redesigned their websites to support mobile gaming. On the other end, bettors adopted mobile betting in large numbers.
In 2020, mobile betting will continue shaking up the betting industry. People won’t stop using their laptops to wager. But they will spend more time researching games, analyzing and placing bets using smartphones than any other device.
The Takeaway
2020 could finally be the year when betting explodes in the USA. States want revenue and people want the freedom to bet online, two factors that will make it possible for the sector to grow. Globally, personalization, mobile gaming, eSports and casino integration are some of the trends to expect this year.
