The adverse effects of the COVID-19 pandemic caused a severe impact on almost every sector in the world, including the sports betting industry. However, despite that, the global market size of the sports betting sector has reached 203 billion US dollars in 2020, according to data from Statista.
Though traditional and default betting options provide a more interactive experience for punters, this choice has been restricted during the implementation of quarantines and lockdowns. But, fortunately, online sports betting platforms are now available to cater to punters’ betting activities.
The availability and accessibility of online sportsbooks in Singapore are just among the trends that offer punters a chance to enjoy betting activities while in their homes’ comfort. Bookmakers further entice gamblers to use their platforms by following industry trends to improve gaming and betting experiences.
Here are five of the notable sports betting trends that bettors should keep an eye on this 2021:
The growth of e-sports betting.
The coronavirus pandemic has put major sporting events on hold, with sports leagues postponing or canceling their matches in 2020. And during the time of the shutdown, bettors who wished to take part in sports betting events have run out of games to bet on; thus, they had to look elsewhere.
Though traditional sports have stopped during the lockdowns and quarantines, other types of sports betting, such as sports simulators, virtual sports, and electronic sports (e-sports), have not been affected by the pandemic. Many sports bettors have turned their heads to these options to satisfy their hunger for sports betting.
E-sports is considered the most prominent betting option for many. Unlike sports simulators and virtual sports, which are both computer-based, e-sports betting allows bettors to place wagers on real gaming events, where professional gamers compete against each other in e-Sports-based tournaments.
Betting on e-sports has grown over the recent years, but this has boomed further through the lockdown days of 2020. It is also expected to grow even more this year.
Payment options have upgraded in recent years, with sportsbooks already allowing bettors to add their bank accounts to deposit money and enjoy betting in a fuss-free manner. Aside from a straightforward deposit process, having a registered bank account allows bettors to have a secure payment process where their profit in betting events can quickly be credited to their account.
In recent years, cryptocurrency has been gaining popularity, with many people using it for their transactions. Crypto is considered a comfortable, flexible, and secured payment method because it is fast and anonymous.
In 2021, it is anticipated that bookmakers will add cryptocurrency as another payment option that sports bettors can use. If crypto-based betting is implemented in sportsbooks, punters will be allowed to carry out betting transactions via cryptocurrencies, such as Bitcoin, Ripples, and Ether, without having to worry about security concerns.
Easier last-minute betting
Bettors have different levels of skills in sports betting. Many experienced gamblers are quick at making their predictions. Meanwhile, others may need more time to know which odd to wager on as they cannot analyze sporting games and make informed bets quickly. Hence, they prefer placing their wagers at the last minute.
Last-minute betting is another trend that is gaining popularity among online gamblers. Furthermore, the progression of technology and the advancements in sports betting has allowed online sportsbooks to have the betting option incorporated into their systems, making it easier for bettors to adapt to the trend.
The last-minute betting trend is attractive to casual bettors who place their bet minutes towards the end of a match. It is also striking to beginner gamblers as it gives them enough time to study the proceedings in the game before placing their wagers.
Player tracking is emerging.
Aside from e-sports and last-minute betting, another emerging trend in sports betting this year is player tracking. It is a new concept in the sports betting sector, which can be beneficial for bettors’ gambling activities when utilized.
Tracking a player’s fitness and activity data in real-time can be useful in making informed bets. It allows bettors to understand how players’ health status can significantly impact their performance during a match. Besides the skills of players and team, their health can also influence a sporting event’s outcomes. Therefore, keeping track of players’ health or fitness records can essentially help gamblers place informed wagers.
Even when player tracking is a new concept and trend for sports bettors, live-tracking an athlete’s health can be easy as many fitness trackers in the market today are storing players’ fitness data.
Free-bet and bonus promotions for new bettors
Free bets and bonus promotions are not new in the sports betting industry. Many online sportsbooks offer these to encourage people to register and use their platforms for their betting activities.
However, these promotions are still among the exciting trends that are anticipated this year. Rewards and bonuses allow gamblers to place wagers on betting odds without placing their hard-earned money at risk.
Sportsbooks often offer free bets to new customers to let them get a “free taste” of the betting experience they can get from using their platforms. These can also be offered to existing customers to encourage them to continue participating in betting events on their websites.
Moreover, new and existing customers are also offered bonuses and promotions, such as cashback promotions, deposit bonuses, and reload bonuses, to encourage them to sign up or continue using their platforms.
The sports betting industry is ever-changing, with trends in the betting landscape rising in prominence and fade. Though much of the trends often disappear as time progresses, some stay and further improves gaming and betting experiences for gamblers.
With the rising popularity of sports betting and the progression of technology, trends will keep on changing and making the sports betting landscape better for both businesses and punters. Being aware of the betting industry’s latest trends will be beneficial for gamblers in terms of experience and profit.
Besides catching up with the changing trends, gamblers also need to find a reputable platform and a game that suits them well to make money online.
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