The sports betting industry has grown immensely over the past several years. Part of the growth is due to an expanded betting population. In the U.S., legislative changes have allowed 30 of the 50 states to now offer some form of gambling on sports.
The other part of the equation is technology. Advances in software technology have allowed sportsbooks to grow right alongside the increased number of sports bettors. Sportsbooks continue to keep up with the demand in the industry. The result has been some interesting trends that are likely to not go away anytime soon.
Unless you have been living in a cave or on a secluded island, the days of calling your bookie and taking care of your betting business are over. Mobile betting fits the lifestyle of the modern bettor.
Everyone has a smartphone these days and with the growth of technology in the industry sportsbooks now have websites or even apps where bettors can go and take care of their business. No matter where someone is or the time of day, they can log into their betting account and deposit, withdraw, place bets, etc. It’s extremely easy and it’s probably another reason why more people are placing bets these days.
In year’s past, bettors placed wagers on sporting events prior to their start. With advances in technology, sportsbooks are now able to offer sharp lines and odds on games as they are played. That allows for in-game betting. Bettors can wager on things like the result of the next play or, in the NBA, whether the next field goal will be a two- or three-pointer.
The other new trend that goes hand-in-hand with live betting is live streaming. Sportsbooks are now offering live streams of games. Bettors can log into their sportsbook account and watch a game live and place bets at any time. It’s really a genius idea as bettor’s love the excitement of placing and winning a live bet while sportsbooks are making money on the other end.
There was a time when the only sporting event that had a wide variety of proposition bets was the Super Bowl. Bettors could wager on the coin toss as well as all sorts of team and player props. Nowadays, bettors can find a significant props menu for nearly every single sporting event on a betting board.
With competition so high in the industry, when one sportsbook started offering multiple prop bets on different games and matches the rest of the industry had to follow suit. Bettors love when there are all kinds of betting options. Sportsbooks have to carry them or bettors will find a new sportsbook. This is a trend that is definitely not going away anytime soon.
A great example of a very popular prop bet is the NBA race to 20 points. This is one is exactly as it implies. The bettor picks the team which will score 20 points first. This one has been a liability at some sportsbooks as the public has generally been pretty good at picking which team will reach 20 first.
The final big trend in sports betting has to do with Esports. Back in 2020 when the coronavirus pandemic was at its peak, the sports world was essentially put on pause. Enter Esports, which could continue regardless of the pandemic.
There are numerous gaming competitions around the world. Competitors in games like League of Legends and DOTA battle it out for supremacy. Bettors can place wagers on these competitions. When Esports was the only game in town, betting on these competitions skyrocketed. Even though sports have returned, Esports is still flourishing and will continue to do so. The industry reported it believes it will double in size prior to 2030.