In 5 to 10 Years 90% of Sports bets in the US could be online
Its is being speculated by gambling and tech executives that 90% of sports bets in the US will be made through the use of mobile betting sites and applications or through the internet within the next 5 to 10 years. This of course is a notion that isn’t very surprising considering the up rise in technology over the last two decades. Online casinos and betting sites have made their presence rather prominent and felt within the online gambling space. This presence has allowed them to consistently secure their place within the online entertainment sphere.
At the recently held East Coast Gaming Congress in Atlantic City gambling executives and leaders indicated that advances in technology are only pushing sports betting and online gambling in general online. The US online sports betting industry has been on the rise since last year the U.S Supreme Court declared that it was legal for all states to provide sports betting services online. Since the declaration by the Supreme Court, States like New Jersey and Nevada have raked in nearly $3 billion dollars each in sports betting revenue – within which around 80% of those profits were made online. This percentage is expected to increase within the next 5 years.
Technological innovation is not slowing down
Speaking at the Congress, CEO of NeoGames (a global provider of internet gambling and lottery technology), Moti Malul indicated that based on the company’s research and analysis 90 plus percent of all U.S sports bets will be conducted through online channels in the next 10 years. The research specifically indicated that this result will be due to excessive use of mobile devices and smart phones.
He further continued, stating that Innovation will be the drive of this change. He also went on to state that we can only imagine what the mobile device will look like and what it will be able to do in the next 10 years.
Adding to the same consensus, the CEO of CG Technology, Parikshat Khanna echoed the same sentiments. Stating, “the true capability of sports wagering is mobile” CG Technology which happens to be a licensed Nevada based bookmaker has experienced these notions first hand. Since launching its betting app in 2009 the company has reported that 60% of all their bets were made through a smartphone device and through the company’s mobile app.
It has always been the assumption that bettors want to sit in a sports book for three plus hours to watch the game, he went on. Alluding to the idea that a majority of sports fans and betting enthusiasts still wanted to sit in a sports book for hours when in fact modern gamblers and bettors simply don’t have that kind of time.
According to CEO of 888 holdings, one of the biggest online gambling services providers, Itai Pazner is holding off on his assumptions stating that he believed mobile sports betting is on the up rise, however, he predicts that at least 50% of mobile bets will be placed online.
Convenience is the language of the future
The truth is convenience is the true language of the future. With more and more millennials entering the online gambling space it only makes sense that the “tech” generation will be using technology to access gambling sites. Millennials are the new young professionals and a continuing to flood the sports betting scene. This new generation spends an average of 3-4 hours on their mobile devices as such more sports games are being streamed and watched on smart devices all across the U.S. This the same generation that prefers to order through an app rather than going to a restaurant, the same generation that applies for university online and the same generation that uses the internet to watch TV. The same generation that would rather access a banking app that stand in a long que at the bank. Convenience is indeed the language of the future and fortunately the internet and mobile devices are at the cutting edge and forefront of this convenience.
At the congress David Rebuk, director of the New Jersey Division of Gaming Enforcement stated that “society’s movement to mobile devices in just about every area cannot be denied. He further went on to elaborate on his idea, stating that “To ignore it will just cause problems in the future. Your customer’s want it and they’ll access it on the black market for sure. Dan Shapiro echoed the same notions simply stating, “That’s the way the world is moving”.
Getting online is the difficult part
As of now, there are officially only eight states within the US that offer sports betting, with four currently on the verge of breaking through with new laws that have been passed this year. However, despite all of these predictions, the actual logistics and red tape of getting sports betting approved in all states in real life is proving to be challenge in a number of states. Even California, one of the more liberal states is struggling to pass a state bill that legalizes sports betting and online gambling. The proposed bill hasn’t passed in the last 10 years.
Also, it is proving to be rather financially costly to get through all the red tape and bureaucracy.
According to Melanie Gross, the Vice President of Caesars Entertainment, “it takes a village to get online gaming up and running and unfortunately you have to pay for the village.