The sports betting industry has been through it all and seen it all as time has gone by. Ever since the invention of sports, betting on said activities has come hand in hand. Be it as a leisurely activity for sporting fans that are looking to make a couple of extra dollars here or there or as an actual career and profession for many others, the sports betting industry has slowly but steadily taken its rightful place as one of the most important sports entertainment outlets around.
Just like with any other industries, sports betting has always been an activity that has had its fair share of lovers and haters. It has seen the brightest of days but also the darkest of nights. While the activity of betting on sports events, games and others is not seen as an illegal activity of any sorts, many haters of the trait have made it a point to demonize this ever growing business, not allowing it at points to reach its full potential.
Now, with the world being more open and embracive to all kinds of activities, it seems like the time couldn’t be better for the sports betting industry to finally finish taking off and cementing its status as a premier option of sports entertainment for fans all over the world. Here are three major scenarios that will shake up the sports betting industry towards further consolidation.
The US Is Finally Legalizing Sports Betting Activities
It’s hard to try and understand how the United States, a country where some of the most important sporting activities and events on the planet happen, had the activity of sports betting on the wrong side of the law. While betting aficionados from the United States make up for a large part of the sports betting population around the world, for many years now Americans have had to either look for companies abroad, online mostly or go to a very limited number of places within their country, like Las Vegas or Atlantic City where they could legally dabble in sports betting.
Asides from that, whenever someone would want to wager on any game or sporting event, doing it through bookies or other methods used to be the answer. But ever since a Supreme Court ruling in 2018 where the 1992 Pro and Amateur Sports Protection bill was overturned, the tides have slowly but surely started to change in the US in regards to sports betting activities. As of 2018 until now, a total of 31 states have legalized sports betting and sports betting related activities to different degrees while 17 others are expected to legalize the activity by late 2022. Nowadays, some of the major sporting news outlets have already started offering betting odds and prediction news on a daily basis for enthusiasts and more and more betting related companies have started to surface in states where the activity is legal.
This could not only breach the gap for betting enthusiasts that could now have an open local market for their biddings but it would also help strengthen both local and national economies with the creation of thousands if not millions of jobs from a new coming industry that could easily take the country by storm. Legalizing sports betting in the United States has been said could bring in profits of around $70 billion annually. Easily put for the sports betting industry, once this activity is fully legalized in the United States, a full before and after lifestyle could start with a very promising future ahead.
Implementation Of Crypto Currency Payment Methods Has Become A Must
If there are any sports betting companies that have not yet started to offer its customers the option of being able to pay and make money through cryptocurrencies and blockchain technology, it’s about time they start doing so. Cryptocurrencies like Bitcoin, Dogecoin, Ethereum and others, all managed through blockchain technology companies have become the one of the most popular players and assets in the world of business and monetary dealings. In an industry as strict about customer privacy and data management as the sports betting industry is, the implementation of crypto payment methods has become a must have and one of the most enticing offers that companies are able to offer customers both old and new.
Given the levels of privacy and confidentiality that blockchain technology management companies offer, sports betting enthusiasts from around the world can do live betting on events, as well as manage their funds, winnings, withdrawals and all other movements within their favorite betting site or business with the highest level of comfort and security. It is not just a safe and exciting move for sports betting companies to make looking towards the future but as time goes by and crypto currencies as well as blockchain technology keeps on getting bigger and bigger it will definitely become a must have in order to thrive.
Big Sporting Events Are Finally Coming Back To What They Used To Be
The global COVID-19 pandemic rocked us all like there was no tomorrow, and for a good chunk of time it literally felt like the concept of tomorrow was becoming more and more bleak. Almost all sporting activities around the world took some major blows and set-backs and the sports betting industry was one that had to seriously take a hot minute to rethink, regroup and get back up. But now, with vaccination efforts being put into place all over the world and the coronavirus pandemic being kept under a certain and respectable amount of control, the sports world is back and so is the sports betting industry.
All major American sports leagues have come back, allowing fans back into their arenas and stadiums along the way. Soccer tournaments and leagues across the world are all back in full motion to the delight of fans all over and as time continues to move, we will continue to see how the sporting world as we know it comes back with full force, allowing sports fans and sports betting fans alike to finally get their much needed fix after a tough period of time full of waiting and waiting and more waiting.