Weighing Up the Economics of Sports Betting

Weighing Up the Economics of Sports Betting

The sports betting industry is worth billions and every year online and land based bookmakers rake in huge sums of money. With the advent of online sports betting one may think that land based bookies have taken a knock, but when you take a look at the stats compiled by industry leader Top Betting Sites, you’ll see that both betting shops and online bookmakers are thriving, and each has their pros and cons.

In an infographic, Top Betting Sites illustrates how, over the last two years, both the online and land based betting industries have flourished. Interestingly enough, land based sportsbooks are currently in the lead, beating online betting sites gross gambling yield by an astounding £1.5 billion. This is rather surprising, as online market share is far greater, but with over 2 million punters visiting land based betting shops in the UK alone, this could account for the higher yield.

Sports betting has enjoyed an upward trajectory, and this has been influenced by a prevalence of brands sponsoring major soccer teams, advertising at stadiums and on TV. Recently, the English Football Betting Association shone the spotlight back on sports betting sponsorships after it ended its deal with Ladbrokes, saying it was criticised for punishing players for betting violations, yet was encouraging gambling. It’s this type of sponsorship that has been driving an interest and enthusiasm in sports betting, and whether this ruling will have an effect on the bottom line remains to be seen. It is, however, safe to say that over the last two years online and land based sports betting spend has been high, and it’s still on the rise.

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Categories: Betting Tips.' 'Tags: Betting and sports betting.
Published by EPL Index
Updated: 2017-07-18 12:47:00