Connect with us
Load WordPress Sites in as fast as 37ms!

Business

How does Betting Influence Business?

As per a study by Zion Market Research, the global sports betting market is estimated to cross $155.49 billion by 2024

Avatar

Published

on

Gone are the days when sports betting was looked down upon or remained confined to hidden establishments.

Over several years of reform, leading to the legalization of betting in many parts of the world, a new surge of opportunities have come to the forefront.

Online betting has become a trend, especially in sports with not just being used as a means of alternate income or fun activity but has grown on to a new business investment hub.

With the ban on betting lifted by the federal government in the U.S., sports enthusiasts and sports bookers have found common breeding ground.

The U.S. sports betting industry has risen to a market of approximately $10 billion of which $4 billion comes from online sports betting platforms. It’s why some competitors like Betway Thailand is popular around the world today.

Ideal business growth platform

Online sports betting has a major advantage over the traditional setups due to the lack of large infrastructural capital required for online betting.

As per a study by Zion Market Research, the global sports betting market is estimated to cross $155.49 billion by 2024.

Business units are leaving no stone unturned to reap the maximum benefits of the digital platform. As opposed to conventional casinos, the online platform has widespread reach beyond geographical boundaries touching the most remote areas.

Higher control over the outcomes

Since online sports betting platforms offer the wagers deep knowledge of the sport and past performance trends before putting in their money, wagers feel more secure with increased chances of winning.

The freedom of not being influenced by a booker looking for personal gains has managed to attract large funds into the pool from individuals as well as business organizations.

Moreover, an added advantage of regular discounts and offers such as referral points/credit largely influence buyer behavior. These marketing strategies act as baits to further the business prospects and profitability of the online sports betting industry.

Increased government revenue

Several studies conducted on the economic impact of betting have proven a substantial increase in the overall economic condition of a nation; hence, further contributing to the government revenue through taxes. Certain costs are involved in the regulation of betting allowed within a nation, but these costs are usually outnumbered by the revenue generated through betting.

As digitization is an inseparable part of human existence, online sports betting is the future of sports betting, and those who make the first move now will definitely be it an advantage.

Which Betting Platform Should You Go For?

Among the more popular options remain Betway, which is present in many different countries of the world. Some of the other top contenders include DraftKings, Sportsbook and ZenSports – all online sporting platforms that are making most of the first-mover advantage.

They have managed to overpower the physical betting setups in the U.S. and with increased brand recognition may be able to completely overthrow the existing market players if they do not make a transition towards the online sports betting platform.

0/5 (0 Reviews)
Advertisement Load WordPress Sites in as fast as 37ms!
Comments

Business

Thailand cooperates with Indonesia to push creative industries

Both countries aim to develop target creative industries, especially the fashion industry, the design industry and the broadcasting industry

National News Bureau of Thailand

Published

on

Thailand cooperates with Indonesia to push for creative industries

BANGKOK, 14 MAY 2019 (NNT) – Thailand joins hands with Indonesia to push for creative industries starting with three major industries with a growth target of five percent per year.

(more…)
0/5 (0 Reviews)
Continue Reading

Business

Thailand to become 4th largest production base for EV batteries in Asia

KResearch forecasts that the EV market share in the next five years will increase to one-fourth, or 240,000 units, of the total car sales nationwide

Boris Sullivan

Published

on

The booming electric vehicle (EV) market in Thailand is increasingly evident in 2019 as a number of automakers have sought the Board of Investment (BOI)’s incentives to produce EVs here.

(more…)
0/5 (0 Reviews)
Continue Reading

Business

Electric cars will help cut smog in Thailand

A number of proposals have been made for long-term solutions to the problem of pollution caused by vehicle emissions

Avatar

Published

on

Increasing air pollution in Thailand caused by hazardous particulate matter known as PM2.5 has led many people to ask where this threat is coming from.

(more…)
0/5 (0 Reviews)
Continue Reading

Most Read

Must Read

Trending