8 factors fueling the growth of the sports betting industry

Till 5 years back, most avid sports fans wouldn't have heard about a 메이저사이트 or a major site, but that's not the case now. Partial reason for the same is the swift growth of the sports betting industry and the growth is here to stay.

As per Statista, the global online sports betting market stands at $ 45.94 bn and is expected to grow at a CAGR of 7.41%. That's remarkable growth considering how far the industry has already grown. But, what's fueling this growth?

Essentially, there are 8 factors this growth can be attributed to. We will cover those 8 factors below.

1. Convenience

A decade ago, you had to contact a bookie to bet on sports. Toto sites have eliminated the need to do so. Now, you can choose a reliable Toto site and place bets from the comfort of your home. That means there is no obstacle you face when it comes to betting on your favorite sport.

2. Wider game coverage

Sure enough sports betting websites have been around for a few years but they covered limited sports and games. Moreover, finding a truly global sports betting website was a herculean task 5 years back. That is no longer the case.

These days, any reliable major site allows you to bet on 15+ sports and hundreds of different matches. Many of them also allow you to monitor the live stream of the game while betting, so you can enjoy the game while making money as well.

3. Better accessibility

Sure enough, sports betting websites are available, but who likes to sit in front of a computer screen all day? Well, mobile responsive sports betting sites and mobile apps have also eliminated that need. It means you can now place a bet through any device and monitor it from your smartphone. No need to spend hours in front of the computer screen.

According to a research report by Fantasy Sports & Gaming Association, People are unlikely to bet on sports until they have a convenient method for doing so. Mobile sports betting has provided this convenience, and that's why the mobile betting industry is growing at such a swift pace.

4. Liberal laws

In Europe, we have the European Gaming and Betting Commission, and in the USA, various state governments regulate the gambling and sports betting market. Similarly, in other parts of the world, various authorities regulate this industry.

Many gambling sites now proudly display on their homepage that they are regulated by authorities and have licenses. That certainly increases players' trust and has helped the industry grow.

5. Secure experience

With technological advancement, problems like DDOS attacks and hacking attempts have become less frequent. Moreover, as payment processors invest in superior digital infrastructure, player money is safe. With such security, players are bound to bet more on sports and other games, and that's exactly what is happening as well.

6. Emergence of microbetting

According to the AP News, microbetting could constitute $20bn of the entire industry by 2027. Currently, microbetting is one of the fastest-growing segments of the gambling industry. There are numerous reasons why this trend is fueling the growth of the entire industry like:

• Microbetting provides high flexibility.


• Microbetting delivers quick results since small events within the games are often involved.


• Microbetting is simpler.


• Microbetting allows you to bet very small amounts.

7. Favorable outlook of authorities

Instead of considering major sites or toto sites a menace, authorities worldwide are using them to shore up their tax revenues, which can then be used to contribute to highway building, the education sector, law enforcement, and so on.

In fact, according to a post published by the Census Bureau, taxes collected from sports betting activities are already contributing to law enforcement, gambling addiction programs, and road building in many states.

8. Social acceptance

According to Forbes, sports betting is becoming more accessible and socially acceptable, and that's driving the younger generation towards it, which is fueling the industry's growth.

So, these are the 8 factors fueling the growth of the sports betting and the gambling industry in general. With social acceptability on the rise, it makes perfect sense to find a major site and start making money based on your passion for sport.