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How many of you involved in betting? I know the positive answers are few but the recent trend from 2017 to till now shows a huge growth in the betting industry. How?
The answer is online betting!
The Betting business is shifting gear from a casino game to a mobile app. Now in most of the countries betting games are running as an online platform or a fantasy game (where it’s not legalized). As per the latest data, 40% of the betting orders in the world placed by a mobile app.
To clear the picture more, here is our analysis,
Starting with Asia (a newcomer in betting market)
Recently we came across the news in India, Dream11 an online fantasy game (betting app) becomes unicorn in two years after its relaunch. The news you read might look simple but the main talking point here is “online betting”.
The Indian government did not legalize betting industry but looking at the exposure and value of money, somehow government considered to legalize online betting as a fantasy game. Though the decision is still pending into the respective court.
From 2016 to end of 2018, Dream 11 added more than 43 million users in India. Currently, the number of users was 52.5 million. The company has set a target to reach over 100 million by the end of 2019.
Betting Industry in UK
UK is the world’s first country which legalize online gambling and it is the most developed and strictly regulated gambling markets in the world.
In the UK, online gambling industry growth is 73% YoY and the total revenue is close to £14.5 billion in FY17-18.
To see that humongous growth, the regulator watchdog of UK Gambling Commission (UKGC) will enforce new requirements for identity verification of online casino customers in May 2019.
After allowing the new rules, online gambling becomes more fairer, safer, and inaccessible for minors by requiring the operators to perform identity verification checks before the customers have actually deposited money into their accounts.
After Brexit, which makes a large impact on the UK gambling business. The scope is still not looking all that grim and the revenue growth looks positive year after year. You can also find many trusted UK-friendly online betting platform for the the best experience.
US follows UK steps-
The United States of America also regularize the online betting industry as an infancy game in some part of the country’s like New Jersey, Pennsylvania, Delaware, and Nevada.
As per the latest news, 97% of the 4.5 billion bet on the Super Bowl were placed illegally.
More than 90% all sports betting is placed outside of Nevada through Caribbean countries, Central America and US regulator wants to make a way to allow this betting inside the country.
Now NBA teams and other gaming teams are partnering or creating new gaming apps to allow online betting in the game.
The future of the betting is Online (Sports League) and you can realize how big the opportunity is? The better the system and its process is, the more money will flow in and good returns will receive by the users.
The market is now close to half a trillion mark and for users, it’s a serious money generator. So in my view, the time has to come when countries need to regularize this process as soon as possible. It will help the people and countries economy.