This Is How Sports Betting Will Look Like In 10 Years Time
In the U.S., 70 to 80 percent of all bets are placed in-play. Instead of predicting the winner, these people bet on the next tennis point or next basketball foul. Using live odds is also a great way to increase fan engagement. Another way to increase fan engagement is through gamification.
With the recent legalization of sports betting, momentum is building to expand the industry nationwide. More professional sports are signing marketing deals with sportsbook operators and allowing on-site wagering at their stadiums. As the legalization of sports betting grows, the market will grow even more and become even more diverse.
In a regulated market, a peer-to-peer exchange will likely become the dominant platform. The exchange model would allow users to place wagers on sports related markets, such as horse races, using a virtual currency called e-currency. The new model would also allow sports leagues to directly monetize sports betting.
The ease of placing bets online is a driving force behind state legislation. Illinois, which is in the process of lifting in-person account registration requirements, will likely legalize sports betting this year. Similarly, New York is expected to legalize online sports betting this year. The retail-only sports betting market in New York is suffering from the competition from online options in nearby states. Recently, Governor Andrew Cuomo called for the expansion of sports betting in the state.
The future of sports betting has been outlined by a peer-to-peer sports betting tracker. The data is a forecast of how the industry will develop in the coming years. Sports betting has been around for decades, but the state legislatures are looking for ways to increase revenue following COVID.