The Transformation of Sports Betting into a Rapid and Continuous Gambling Activity

In response to technological development, online sports’ betting has increased at a very high rate. Plenty of bookmakers, digital devices, and internet connection are the main factors contributing to the high rise in sports gambling. Wagers can now place bets with ease and freedom. Whether legally through a bookmaker or illegally via a private enterprise, sports betting is gaining roots even in remote areas that were previously thought never to see the dawn of online gambling. Here are some of the developments leading to the rapid growth of the sports betting

Increased Fantasy Sports Betting
Fantasy sport betting is the scenario whereby an individual comes up with a digital fantasy team. The teams could be for baseball, football, basketball, or any other kind of sport available on Betway and other top platforms. The concept of betting based on fantasy sports is relatively new in the market. However, the demand is increasing, and the operators see it as a breakthrough for expanding sports betting activities. The evolution of online sports betting is evolving, and with it comes new verticals. Fantasy sport betting is one of these mushrooming ideas that catapult betting to another level. 

State of the Sports Betting Market
Today, about 20% of the world population engages in sports betting, and more than 20% gamble on fantasy sports. In 2017, land-based sports betting accounted for the largest market share globally. However, as the digital sport betting platforms increase, the land-based segment loses its market share. The vast number of passionate sports viewers is also key to the unstoppable online sports gambling. Sports betting claim about 45% of the global online gambling market, bringing remarkable revenue returns. Easy government regulations and the audience's favorable spending capability are responsible for the online sports gambling market's splendid growth.

Digital Revolution
All facts about online sports betting and the rapid growth of the market result from the digital revolution. On the same note, the internet's proliferation globally projects sports betting market growth figures with a significant margin each passing day, with companies like Betway registering immense turnovers annually. Consequently, sportsbooks' investment in digital platforms has taken to utilizing this opportunity. It has never been easy for the world population to connect to the internet in the past. It is currently possible to smoothly connect to the internet and subsequently start betting on their favorite sportsbooks thanks to technological advancements.

Economic Impact on Sports Betting
Global economic prosperity, especially for the working class, has increased the amount of disposable income people spend on leisure, including betting on sports. Stable income also enhances the affordability of basic amenities like the internet and gaming devices like smartphones and PCs. Sports audience can pay for live matches on their streaming devices or even travel to a stadium to watch a game, a scenario that has significantly stirred the passion for Betway sports betting.

Sports betting, like any other form of gambling, is growing at a galloping rate. Sports gambling is essentially responsible for about 70% of the global gambling revenue through online betting. And sports betting is projected to gain more popularity across the globe in the coming few years.

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