Sports fans are some of the most passionate and loyal customers on the planet, regularly following their respective teams’ fortunes and sticking by their beloved clubs through thick and thin. Alongside following their favourite sports franchises, fans regularly participate in debates surrounding key issues in particular sports and even have a flutter from time to time. In actuality, sports betting in the US is showing dramatic growth.
Betting on sports has certainly captivated American audiences in recent times, with a Zion Market Research study finding that the Global Sports Betting Market will be worth $179.3 billion by 2028 with CAGR of 8.33%, with the US market playing an integral role in its overall growth. But why is sports betting now rising to prominence in the country? Why are more and more sports fans discovering the benefits of betting online? Let’s take a look below.
The main contributory factor behind the rise in sports betting in the US is down to a momentous decision in 2018 when the U.S. Supreme Court overturned PASPA (Professional and Amateur Sports Protection Act) of 1992 which halted Nevada’s monopoly on sports betting and allowed other legislatures to open their respective doors to sports betting in their states. As such, more and more reputable sites like 777 Bet have been popping up on a regular basis as betting companies look to break America and tap into what is essentially a massive market.
Investment banking company Goldman Sachs is predicting a bright future for the sports betting market in the US also, with the world-renowned company projecting that online sports betting could grow 40% annually over the next decade. Given the legalisation of sports betting in many states throughout the country, betting is no longer taboo and provides sports fans with an additional tool which accompanies the all-round sports package in the US.
The rise of the smartphone
With an increased number of states now legalising sports betting in the country, more and more people have been able to place wagers on big matches. The most common way in which people make sports bets is through the sophisticated modern-day smartphones we all own. Sports betting apps are readily available on both iOS and Android, they take seconds to download and install, and provide sports fans with a quick and easy way to bet on sporting events.
Smartphone users are able to house an array of sports betting apps as they look for the best odds on various sporting match-ups. The fact that these types of apps can accompany people throughout the day makes sports betting convenient and easy to access, while also giving sports bettors the option of sampling things like in-play betting as the action unfolds. The betting options are comprehensive.
Overall, given America’s love of sports, it comes as no surprise to see sports betting’s appeal grow further. The country has always been sports mad, except now it has caught up with most of the other country’s in world, giving sports lovers a new and exciting way to follow the action in the process.
You may be interested in: The Current State of Legal Online Gambling in the USA