How big is the sports betting industry and how works?

03/02/21

The sports betting market has exploded internationally in recent years and growth is expected to continue. But just how does sports betting work? And how big is the industry?

One of the biggest themes in the gambling sector in recent years has been the expansion of sports betting in new jurisdictions, most notably in the US.

The impact of the Covid-19 pandemic on government revenues has only accelerated the trend for more jurisdictions to consider legalising sports betting.

The sports betting industry is now thought to be worth around US$150bn a year, up from US$85 billion in 2019.

Prominent operators on the market include 888 Group, Kindred Group plc, Wiliam Hill PLC, and Churchill Downs Incorporated.

Where is sports betting legal?

Sports betting of some kind is legal in: Argentina, Australia, Brazil, Canada, China, Colombia, Costa Rica, Ghana, India, Kenya, Mexico, The Netherlands, New Zealand, Nigeria, Peru, The Philippines, Russia, South Africa, the UK, many European countries and in many states in the US.

Here we clarify some doubts regarding the sports betting industry:

how sports betting works?

Today it is very easy to place sports bets online, you just have to be a client of a licensed bookmaker. These offer you a sports portfolio so you can choose your play and they also have different betting systems, being the pre match or live. Bookmakers offer odds or odds to bettors, carrying out a study to predict what may happen, putting sports betting analysis into practice and following sports betting news.

What is a unit in sports betting?

Basically, the unit is the amount that we decide to invest in a bet, normally it is usually 1% of the bankroll, which is the money that we have for investment. But it can vary according to our bankroll.

What is a teaser in sports betting?

The teaser is a multiple bet, it should be noted that not all bookmakers do it, it is based on increasing the handicap in favor of any team that is appearing in a given event.

What is line in sports betting?

It is a numerical value that a bookmaker takes as a starting point to establish the favorite market for a certain event. With it, margins of victory are also established or the number of times that a team or player reaches a certain numerical value in some action in a match. Basically they are the marked figures that are taken in a certain market to bet, be it more or less.

Sports betting in the US

The US passed sports betting legislation in 2018, making it legal for individual states to choose whether or not to allow it. So far, 17 states and Washington DC offer some form of legal sports betting, and three more states voted in favour of sports betting on the November 2020 ballot.

The future of sports betting

Continued growth in the sports betting market is expected into 2021 with more countries moving towards legalisation, the number of operators growing and international sports growing in popularity.

Despite moves to ban or limit gambling sponsorship in sports in several countries in Europe, major sports betting companies continue to be a major investor in the sponsorship of sports teams.

Meanwhile, as a result of many of the most popular sports leagues seeing activity suspended after the initial outbreak of the Covid-19 pandemic, players have discovered new sports betting markets, from Ukrainian table tennis to the worlds of esports and virtual sports.

How to win at sports betting?

There is no exact formula to win in sports betting, what you have to take into account is to study and analyze the sports scene, since when betting we must know the forecasts and odds of each team. We leave you some tips to hit the bets: