A quick Google search can provide a strong view of the size and growth rate of the sports betting industry in America. The National Council on Problem Gambling estimates that 600,000 American adults are addicted to sports betting. This number is twice the number addicted to other forms of online gambling.
Many independent researchers have found that more than half of all Americans play at least one hour of video games every day. A recent ESPN poll found that 62% of adults who are 21 or older have participated in some form of gambling within the last year.
Is sports betting a growing industry?
Sports gambling was banned in America, but the ban was overturned by the US Supreme Court after authorities allowed the platforms to offer services. Since then, the legality of betting has been debated and re-debated. It wasn’t until 2004 when the professional leagues finally gave their blessing to state-regulated online gambling. Since then, a number of states have enacted laws permitting online bets on sports games or events.
In 2021, the revenue from this industry was 2.1 billion USD. The market cap is said to reach 10 billion USD in the next 6 years. So, these figures clearly indicate that betting is one of the fastest-growing industries in the US gambling market.
Availability of online sports betting websites
There are different online gambling platforms that are offering different games. But choosing the right and trusted service provider is the real trick. The online gambling industry is highly competitive.
The security of funds is the key factor in choosing a sports betting website. Some of the major players are offering money-back guarantees and progressive jackpots on bets. The software used to run all major online sportsbooks is robust and can be trusted by people who want to gain access to gambling products but are not too interested in live-action or professional sport.
If we could cut down on mobile bookies, the whole situation could be lot better. They are a dime a dozen if you take into consideration all the sites and their apps out there.
Why is the sports betting industry growing?
There are several reasons why the gambling industry is growing at a rapid pace. Some of the major reasons include:-
1. Importance of sports in America
Games are very popular in America and most people indulge in gambling because they love to watch their favorite games.
2. Increasing number of online gambling websites
Online gambling sites have made it easier for bettors to place wagers from the convenience of their homes or from any other location.
The online gambling industry is growing tremendously due to the arrival of new online sports betting websites with innovative products and the latest technology. Hence, it has become simple for bettors to choose from various services without any confusion or hassle.
3. New technologies used in online sports betting
Bettors can use their credit cards to deposit money into online sports sites. Furthermore, online gambling websites offer various types of wagering options using various types of virtual currency.
These include cryptocurrencies such as Bitcoin, Litecoin, and Ethereum. There is also a new form of cryptocurrency called Dash Coin. These things have made it a difficult task for bookmakers to resist the pressure exerted by the growing demand for betting services and gambling products.
4. Availability of a wide range of sports betting markets
Bookmakers offer a wide range of gambling opportunities to their clients. These include an option to bet on almost every single sport in the world. In addition to sports, bookmakers also offer financial betting opportunities including live casinos as well as slots and roulette games.
The Internet has made it very easy and faster to place winnings on events played across the globe. With the advent of mobile betting, sports are at our fingertips.
Make sure to check Top10SportsBettingsites.net for the top sports betting websites before investing your money with any site.
Story by Adrian Sterne
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