Sports betting is booming. In truth, it always has been, but it’s possible to argue that it has never thrived as much as it has today.
The global sports betting industry is thought to be worth an estimated $45.43 billion in terms of revenue in 2024, but that figure is expected to increase by a rate of 7.47 per cent over the next five years, eventually being worth approximately $65.14 billion in 2029. Those figures only represent online betting, which is the go-to method for so many nowadays.
But, while sports betting has always been a popular activity for so many across the globe and a part of their respective cultures for so long, why has the excitement around it reached an all-time high more recently?
2024 is a big year for sports betting
One reason could be that 2024 is simply a big year for sports betting due to the sheer number of sporting events that have taken place or are scheduled to take place over the remaining portion of the year.
There have been football tournaments that don’t happen on an annual basis that have taken place over the summer that will have likely interested football fans because of how big they are. The 2024 European Championships and Copa America both took place in June and July and won’t take place for another four years.
In addition, 2024 is the year in which the Olympic Games will also feature. The Games are among the most-watched sporting events worldwide, with billions of people typically watching many of the events that take place. Some will look to capitalize on the occasion by enhancing their experiences with a little wager, again, as it’s an event that takes place once every four years.
Sports betting is expanding
Sports betting has only just really become a global phenomenon, as one of its biggest markets has only recently become available to the industry. Up until 2018, the US had banned online sports betting but now there are regulations in place across each of the States that have started to lift the ban that was in place.
There are still a few locations that haven’t lifted the ban, but most of the States permit the activity in some form. Those who are interested in learning about sports betting may want to check out the Pinnacle website, as there are several useful tips and tricks that can be used to ensure a positive gambling experience is possible to enjoy. Americans can wager on their favorite sports, which are among some of the biggest in the world.
General interest in sports betting is up
As mentioned, sports betting can often be an activity that is part of a country’s culture due to how ingrained it has become over the years. This is something that can be seen across many countries globally, and as populations get older, there can be a rise in general interest.
People who turn legal age may start to participate in the activity to enhance their experiences of their favorite sports, while technology has made it more accessible and convenient for many. With the ability to place a bet from your phone or laptop, punters no longer need to go to a shop to place the bet, which can explain why the industry is continuing to grow online as much as it is.
Disclaimer: Play responsibly. Players must be over 18. For help visit https://www.rgf.org.mt/