Sports Betting Market Trends of 2021
In recent years, the sports betting market trend kicked off after more and more people embraced betting with open arms. Sports betting has gained so much ground globally that it is anticipated to generate up to $134.06 billion between 2020 and 2024. Today, we know that almost 50% of adults in the US have played betting games at least once in their lifetime.
Let’s have a quick peek at some top sports betting market trends of 2021 and gain more insight into the market.
Table of Contents
Mobile betting has become one of the most common sportsbook betting practices, especially for those who prefer flexible betting strategies, thanks to the development of mobile betting services. The improved simplicity of mobile sports betting is providing consumers with a more straightforward betting experience. Moreover, substantial gaming alternatives are diversifying the existing betting options. Both well-known and upcoming sportsbooks are rapidly embracing mobile betting as it offers improved profit due to the benefits of staking from anywhere and at any time.
Player tracking technology, which provides crucial information about players’ activities and fitness state, is available to fans and punters looking for extra hints which may affect the result of every game. This feature also gives you access to positional details of any player and video footage of an ongoing game.
Some of the quick-thinking organizations are incorporating real-time sports betting into OTT (over-the-top) streaming to increase mobility for bettors. One of the most prominent examples of these kinds of streaming platforms is emBET.
In detail, emBET is launched by Sportradar to improve fans’ interaction by delivering up-to-date information about games and an interface that lets you place bets while watching live broadcasts. The biggest advantage of emBET is that it doesn’t require using a second screen when placing bets during games. Today, many betting platforms follow the emBET example and feature live-streaming along with special campaigns on betting offers before games are aired.
XRs like Virtual Reality, Augmented Reality, and Mixed Reality are used to create more interaction between sports devotees and live sports games. The need for social distancing grossly inspired Extended Reality technologies during the pandemic. These technologies are revolutionizing how we engage with one another and removing the need for overly expensive gadgets.
Finally, we now have sportsbooks using cryptocurrency as a payment method. One of the most significant advantages of crypto-based betting is that, unlike standard banking systems, it does not require the involvement of a third party. It means bettors can transact anonymously and enjoy higher deposits and withdrawal limits while incurring little or no fees.
The cashless transaction option is a new trend in online betting, and it is expected to gain more popularity in the recent future. Through this payment method, punters can bet house chips containing RFID-tagged sensors. This technology makes it possible to track bets while eliminating potential human errors.
Free Bets and Bonuses
Freebies are perhaps the engine of sports betting and have become a stable trend in 2021. Several online bookmakers now give out bonuses and free bets to reward new and existing customers. Although these freebies differ from one sportsbook to another, newcomers usually receive welcome bonuses or free bets.
You should, however, exercise caution while claiming bonuses and free bets. Depending on the site’s terms and conditions, players should know that their potential gains may be subject to specific wagering requirements. Despite the numerous advantages of this trend, especially if you are new, it is vital to understand sportsbooks wagering laws before placing your bets.
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