From the continued growth of technology to regulations, here is a detailed guide to some of the expectations and trends for sports betting in 2020.
Growth in online betting
Most bettors access betting sites through their mobile phones. Sports betting has become more mobile-friendly to cater to these mobile phone users. Most sports betting sites already have mobile applications. They must also have more responsive and user-friendly websites.
The prospect of bonuses has also seen growth in the number of new users. There are different types of bonuses ranging from sign up bonus to first deposit bonuses that allow you to make free bets. One such bonus is the melbet bonus that offers up to €130 as well as free weekly bets. This is however subject to terms and conditions which one must be eligible.
The convenience that comes with mobile phone access means people will bet at the comfort of their home.
Sports Leagues to Benefit more from Betting Activities
A shift in partnership in sports leagues, English Premier League, in particular, has been on for some time. In the early 2000s, most teams were donning beer and alcohol branded shirts, different from today when most have been replaced with betting firms. Some of the betting sites sponsoring EPL teams are BetWay for West ham and Dafabet for Norwich City. Almost half of the teams’ shirt sponsors are in the gambling industry.
The partnership between the betting sites and the football teams has proven to be mutually beneficial. While the sports teams earn money directly from the deal, the betting sites get exposure. EPL, being the most-watched sports league worldwide, associating with a team gives brands unpreceded international presence.
Extended Global Sports Betting Network
The growth of technology and several payment options has seen cross border movements of betting firms. The United Kingdom has created high-end betting software and betting options. For example, through payment options like Neteller clearinghouse, the UK allows US bettors to participate in UK sports.
With the ability to compare bets on a different location, and cheaper payment methods, global betting must thrive.
The Growth of Blockchain in Sports Betting
As much as there are several legitimate betting sites, several fake websites have come up to defraud unsuspecting customers. Some betting sites also hide data like results, payouts and winning. Blockchain technology is a fronted solution to ensure trust and transparency. The blockchain-based betting sites are decentralized and cannot be influenced by third parties.
Already, there are several blockchains based online betting platforms like LetBet, TruePlay and Cash bet. The existing big betting sites will also benefit from the blockchain. They will adopt secure payment methods through Bitcoin and other cryptocurrencies.
Stringent Rules and Regulations on Betting
After a long period of gambling liberalism, the UK is putting in place laws to regulate the sector. All sportsbooks, bookmakers and online casinos have to carry out verifications of new clients. They also have to make their websites fairer by collecting all necessary information before one place a bet. This ensures that no issue arises during withdrawals. Also, most corporations and government entities are calling for blanketing of bookmaker advertisements.
These regulations are to curb gambling effects like addiction and mental effects.
2020 remains to be a testing year for the betting industry. With more strict regulation and government control, the sector is braced for tough times ahead. However, this should not cloud the other positives like growth in blockchain and online access.
Ultimately, betting is an age-long, well-adopted tradition, and no amount of control or regulation will phase it out.