How Sports Betting is Changing: 7 New Trends

It seems like there’s a new trend in sports betting every few months. If bookmakers aren’t competing to welcome Bitcoin users, they’re giving out exclusive bonuses to mobile players.

On a broader scale, sports betting is becoming legal in more and more countries around the world. Governments are changing their stance on the industry. And so is the public.

In many parts where sports betting was once taboo, it’s now a popular pastime. In this article, we’ll focus on the latest trends influencing the sports betting sector. Let’s get started.

More Legal and Safer Sportsbooks

As more countries legalize sports betting, the number of legal, safe betting sites in the world is increasing. Take the US as an example. Sports betting outside of Nevada was illegal until 2018.

Back then, the only way you have wagered on football or hockey legally was to use a black market sportsbook. In this age of legal sports betting, you can find a safe betting site in nearly every state.

Outside of the US, more and more countries are regulating sports betting at a local level. On the other hand, license providers like Malta and Curacao make it easier for betting sites to provide their services legally in multiple countries.

A case in point is Unibet Nederland. This well-known sports betting brand is located and licensed in Malta. This license helps Unibet offer its betting services throughout Europe, including in the Netherlands.

A Changing Demographic

In the early days of legal sports betting, older baby boomer men dominated the betting demographic. In the past five years, younger millennial men and women have overtaken boomers to become the biggest demographic in the industry.

In the US, women now account for 30% of all online sports bettors. On the other hand, minority groups are embracing the sector—they represent three in 10 new sports bettors.

Beyond race and gender, the new breed of bookmakers has a higher disposable income. They also take more time to research before they place their bets. These are both good things for the industry.

People with a higher disposable income tend to make smarter betting decisions. That’s because they’re not desperate to win. They bet for fun only. They conduct research because they understand it’s the best way to maximize betting profits. 

ESports Betting

ESports is one of the fastest-growing sports in the world. It’s centred on competitive video gaming. The industry has more than 200 million fans. It’s also backed by large brands like Toyota and Coca-Cola.

However, the reason eSports is growing so fast has everything to do with its organization. It works like any other sport out there—leagues, teams, professional players and sponsors.

Additionally, the sport has media partners like Twitch, ESPN and YouTube. On Twitch and YouTube, you can watch the majority of live eSports games for free. This helps popularize the sport to both regular fans and bettors.

Bitcoin Payments

If it looks like almost every betting site now accepts Bitcoin, it’s because crypto has become such a big deal. Bitcoin launched in 2009 and struggled to get support from anybody for a few years.

Over time, the digital currency has skyrocketed into one of the most valuable assets in the world. Most people love Bitcoin because it’s a potentially profitable investment. Others like it because it’s a cheap, secure and fast payment method.

Should you use bitcoin for sports betting? Consider your options. Many betting sites support Visa, MasterCard, PayPal, Google Pay, Skrill and bank transfer. Crypto is just one more payment option.

Consider a payment company’s fees, limits, speed and security. Digital wallets tend to be cheap, but wire transfers provide better limits. Bitcoin is excellent if you can’t use PayPal or card payments. But it’s irreversible.

Live Betting

Also known as in-play betting, live betting involves predicting sports games while they’re taking place. It’s an exciting way to bet on sports. But it’s also risky and demands that you watch a game if you want to win your bets.

The best bookmakers provide live betting during almost every important match. It doesn’t matter the sport or league. If it’s popular, you can place your bet. As mentioned, though, bet on in-play if you’re following a game in real time.

That way, you can see what’s happening on TV. Then you can predict the next score team to win before it happens. Keep in mind odds change quickly. If you notice a change in possession that could lead to a score, place your bet quickly.

Faster Payouts

Earlier on, we mentioned betting sites are now supporting a wide range of payment companies. That’s great. But it’s the only thing good thing they’re doing. The best companies are changing the industry’s reputation for being slow with payouts.

Truth be told, some sportsbooks still struggle with banking. You deposit money smoothly and bet on a team you like. Then you win money and problems begin. Betting sites are changing this reputation by offering faster payouts.

How fast you receive your winnings depend on a few factors. Some payment methods are faster than others—digital wallets and crypto support the quickest withdrawals.

The amount of money you win also determines the payout speed. Most bookies process small profits fast. But once you hit a $10,000 jackpot or more, the withdrawal time may take longer. 

Fair, Transparent Bonuses

If you have been betting on sports for a while, you’ve probably noticed an improvement in the quality of modern bonuses. In the past, bookmakers would offer generous bonuses with harsh terms and conditions.

Nowadays, bonuses come with transparent terms. The free bet may not be huge. But it has terms you can fulfill comfortably. Additionally, there’s a wide variety of promotions.

First, you’re welcomed with a free bet or a 100% match on your deposit amount. Secondly, you qualify for reload bonuses, cash backs, parlay boosters and bet builders. 

With that said, every betting site has unique bonuses. When shopping for great free bets, compare each bookie’s bonus policies carefully. 

For More Great Chicago Sports Content

Follow us on Twitter at @chicitysports23 for more great content. We appreciate you taking time to read our articles. To interact more with our community and keep up to date on the latest in Chicago sports news, JOIN OUR FREE FACEBOOK GROUP by CLICKING HERE