The sports betting industry continues to grow year-on-year, and it is estimated that almost a third of the world’s population will be engaged in sports betting at some point in their lives. The projected growth potentially values the sector at USD 202.14 billion by 2031. The ever-increasing digitization of this area allows players to enjoy a more immersive experience regarding wagering. Nevertheless, there have been some notable pivots over the last few years as betting patterns and player interests continue to evolve. We’ve taken a look at some of the emerging trends across the last twelve months.
Social Betting
Betting is often viewed as a solitary pastime, with professional gamblers regularly sharing their tales of being hunched over their laptops for several hours. Nevertheless, having a flutter can be a fun and sociable experience, with many new apps allowing players to share their bets and feel part of a like-minded community.
Weekly and monthly leaderboards are a great way to showcase your credentials amongst friends, and some social bookie apps also allow players to create small groups with prizes and bragging rights up for grabs.
Social interaction is such an integral part of life, and social betting apps empower players to share their thoughts and create bookie-beating strategies. Humans are inherently social creatures, and we have an innate ability to develop and form connections. Therefore, this approach seems like a natural step forward for the industry.
Many of the best online casinos currently offer hundreds of live table games and interactive game shows that permit players to speak directly to the dealers and fellow gamblers. Furthermore, dedicated social media groups focus on tips and predictions for forthcoming sporting events. Apps such as Discord, Reddit, and Telegram now allow players to become initiated into a like-minded community and improve the socialization aspect of sports betting.
eSports
Anyone who has spent time perusing an online sportsbook in the last few years will have noticed the growing prominence of eSports betting markets. Although it started as a fairly niche interest, it has grown substantially over the last ten years and is projected to reach USD 5.27 billion by the end of the decade.
Although there are many passive viewers, many fans are keen to enhance their experience by betting on their favorite tournaments and leagues. With multi-million dollar prize pools available and the most talented players having become household names, this trend needs to be taken extremely seriously by online bookmakers. In North America, eSports platform provider Odin.gg recently secured a license in the state of Ohio, and that expansion looks set to continue.
The diversification of game genres and the increased professionalism of top teams have allowed this sector to make further inroads, forcing betting companies to increase the availability of their eSports offerings exponentially.
Bet Builders / Stat Betting
Although many bettors still enjoy placing traditional accumulators, the popularity of bet builders has significantly grown across the last twelve months, and as a consequence, they have become front and center of many bookies’ offers and promotions.
An increase in the number of televised fixtures could be one reason for this trend. However, it may simply be a case of players enjoying the freedom to create a bespoke wager with access to almost limitless markets. The readiness of statistics is another contributing factor, with bettors often able to use trends and data to help them construct and assemble their wager.
These customized bets are remarkably straightforward to create, and with players able to take control of their own destiny, it is little wonder that bet builders have become one of the major success stories of 2024.
