During 2020 and 2021 the sports betting industry has successfully navigated challenging times of the pandemic. Many experts predicted a recession in the online sports betting industry due to the uncertainty, the users’ tendency to save their money, and the shutdown of all sports activities. However, quite the reverse, the industry growth rate increased and all betting sites acquired new players’ base! Likely, the newcomers will continue to bet and play even as life returns to a pre-COVID normal.
In addition, it seems that more countries will legalize this industry. In 2020 and 2021 more US states have enacted lenient online gambling laws. Reaching out to the American punters means getting more revenue and thus revitalizing the industry and other affiliate industries as well.
Many experts believe that the live streaming of matches will grow; Accordingly, the live betting markets will be very popular. Also, the online bookmakers will focus more on mobile related products like developing native apps and improving mobile friendly web-based platforms. Although these products aren’t cheap, the current trend pushes all betting brands to invest in these products. Nowadays, most of bettors use their smartphones and tablets instead of desktops to place bets.
In this article, we will discuss the most important growth trends in the sports betting industry for 2022.
- So many sporting events!
After so many delays in 2020 and 2021, 2022 is full of major sports events! On top of them is the World Cup, which Qatar will host for the first time. Although the world cup happens in summer, due to Qatar’s intense heat, this edition will take place from November 21 to December 18! There are many factors that make this edition unique as it is the first time that this event will be held in the middle east. This small Gulf country has invested huge resources in building state-of-the-art stadiums. In fact, Qatar did not mind holding the event in the summer, and installed outdoor air conditioners in all its streets! But the organizers and FIFA saw that using this huge amount of air conditioners will increase carbon emissions. So, they switch the date to the winter.
Also, in 2022, the Winter Games that China will host from February 4-20. While the Super Bowl will take place from February 3-7 in Los Angeles.
Likely all sports betting sites will offer special rewards and free bets for all these events to attract more bettors. Consequently, you can join more than one bookmaker to get multiple bonuses for the same event and apply the Matched Betting strategy to collect sure more winnings. Also, if you prefer betting on horse races you can bet on the non runners in 2022 races. As a rule, a horse that participates in two consecutive races will be a non-runner in the third race! For additional info, you can click on the previous link!
- Cryptos Are on the Way to Replace Regular Payment Methods
During the past years, the use of BTC and other coins in sports betting sites has been steadily growing. Many drivers will boost their growth in 2022. For example, the Chinese people want to get rid of their government’s control and enjoy online sports betting freely. In addition, they are the largest consumer of crypto mining equipment in the world. So, it is likely that sports betting sites will get a large base of Chinese players despite the strict online gambling ban there!
Many experts believe that the growing trend of crypto usage at online betting sites will reshape the gambling payments industry. However, at the moment, and in the near future, regular payment methods will continue to be dominant.
Altcoins offer bettors all the advantages they are looking for; It hides their ID and personal data when dealing with something sensitive like gambling. Further to this, the volatile value of Bitcoin and its virtual cousins are pushing speculators to think about investing them on sports betting sites.
- Conclude Many Sponsorships Deals
At the moment, all the Premier League and Football League Second Division teams have signed sponsorship contracts with sports betting companies!
It is clear that the sports betting companies will not be satisfied with this and will try to reach other lesser-known leagues. For example, 1xBet has been the official sponsor of the CAF since 2019. This contract has helped it reach far African countries that the bookies were not interested in before!
Therefore, it is likely that the competition will extend to new countries and markets through sponsorship contracts for various sports federations and clubs.
- The Growth of eSports Betting
Talking about any comparison between betting on regular sports and esports was a joke before the pandemic year! But the pandemic completely reversed the situation; When all sports activities were suspended and people were quarantined, bettors did not find anything to bet on except for esports matches. Therefore, esports got overnight extra fame and become the most sought after in all sports betting sites. In 2020 the eSports industry generated an income of $15 billion. So, it is likely that this trend will continue in 2022 as well.
- Provide More Live Matches
There is a rational question that all experts ask; Why are sports betting sites only offer betting services and not provide live streams for sports matches?!
The answer you have in mind might be that online live streaming is a franchise owned by some companies like ESPN. But that is not entirely true! Online bookmakers can obtain real time streaming rights for sports matches for their users only. These rights do not conflict with the rights of other companies.
The streaming service would be a great feature if it could be expanded to include all sports or at least major league matches. At the current time, there are a very limited number of bookmakers that offer live streaming of non essential tournaments.
- Sending More Sports Updates to Users
Sports updates are one of the most exciting free services of sports betting sites. Although some bookmakers formulate sports updates emails in the form of ads, this does not diminish the importance of this feature. By 2022, sports betting sites will expand their tracking of player injuries, physical fitness, and general health and send these updates to players.
- Optimizing the Mobile Betting Experience
Although desktops have been the most used devices by bettors over the past decade, consumer habits have changed today! Most bettors nowadays prefer to place bets via their smartphones and tablets on the go. These devices give them the ability to grab the highest betting odds in real time without having to wait until they get home to open their desktops and place a bet on their favourite team.
It seems that sports betting sites are already ready for this transformation and have introduced responsive mobile platforms. However, most sports betting brands haven’t produced apps yet.
- Reaching New Markets
Apparently, the blacklist countries is decreasing and bookmakers are reaching previously unavailable markets such as Taiwan, China, and the USA. Also, many experts believe that the increasing demand for bookmakers will prompt governments to legalize them in exchange for taxes.
From another perspective, governments should rapidly legalize sports betting sites. Otherwise, bettors will resort to using cryptos and the governments won’t take a single penny.