The world’s sports betting industry has been growing fast and it won’t slow down in the near future. The advent of online sports betting sites and digital revolution have been fuel to the already fast-growing fire.
Things are looking up for both online sportsbooks and bettors. What began as a marginal venture is now widely embraced in all parts of the world.
2020 and 2021 have been great years for the online sports betting world. Many states opted to legalize sports betting, and the market continued to develop. The growth is expected to continue in 2022 and the future. Here are a few things to expect next year.
1. Increased Legalization of Sports Betting
More states are expected to legalize sports betting in 2022. Most of them are currently looking for opportunities to fill budget gaps, and sports betting is a promising venture. Unfortunately, the legalization of online sports betting is not as easy as it may seem.
Illinois, for example, is one of the bluest states. However, it still has trouble legalizing sports betting. Many other states face the same problem. Luckily, there seems to be a momentum with sports betting laws in the United States.
Next year may be ideal for states that are already considering the legalization of online sports betting. The idea of legalizing sports betting has already been planted in most states.
Since most states have already done it, others are likely to follow suit in an attempt to introduce a new source of revenue. Gambling is known to be a reliable source of constant cash flow. Some of the best US sports gambling sites in regard to revenue are listed here.
2. Unexpected Sportsbook Mergers
One of the most important things to expect next year is the merging of various online sportsbooks to deliver better services. The increase in regulatory demands and competition has forced even the leading sportsbooks to step up.
Mega mergers are inevitable in 2022. Even though last year was difficult for sports betting, things are changing fast. Recent mergers that have been shaping the betting industry include Evolution and NetEnt, The Stars Group, and Flutter Entertainment, and Eldorado Resorts, and Caesars Entertainment, William Hill, and Eldorado Resorts.
The land-based sports betting sector has been in strife recently but online sportsbooks thrived. Major online sportsbooks now have a bigger market power. They are likely to consolidate with others more than they typically do. Even though it may be difficult to top the number of mergers experienced in 2020, 2022 will be the year of unexpected mergers.
3. Increased Competition for Online Sportsbooks
More online sportsbooks are likely to come up in the near future. Even though there are lots of great ones today, the newer ones may have more for bettors to enjoy. Both avid and new bettors are always looking out for the next big sportsbook.
The best betting websites and apps use high quality software. They are experienced and secure. They are compatible with a variety of mobile devices. Since mobile gambling has become an important part of sports betting, new sportsbooks must focus on it.
Modern online gamblers want the convenience of placing a bet whenever and wherever they want. The emerging sportsbooks will be adaptable to various mobile devices.
They will focus on customer service. Those with poor customer service are deemed as untrustworthy and unreliable. The best online sportsbooks offer 24/7 customer service. Their representatives are reliable and knowledgeable.
4. More Bet Variety
The history of sports betting in the United States is just as long as in other parts of the world. Gambling methods are always evolving and it is no surprise that next year will bring forth more options.
In 2022, sportsbooks may introduce a wider variety of bets. Currently, the most common type of bets includes point spread, money line, futures, and totals. Even though they are all great, having more variety is always a good idea.
Different types of bets are appropriate for different types of bettors. Sportsbooks have realized that the secret to staying successful is ensuring that all players get what they want. Since betting on sports is about chance, bettors can only rely on estimates. There is no sure way to tell if you are winning or losing. Giving bettors more opportunities to play is equal to giving them more opportunities to win.
It also means catering to the needs of both high-risk and cautious bettors. Some bet types have high risks and high rewards. Those with a lower risk may have less rewards. The choice depends on a player’s strategy.
5. Return of Major Leagues
In 2020 and 2021, sports betting has been nothing but tumultuous. Sports betting enthusiasts could not bet on their favorite leagues, as most sporting events were canceled and the sporting calendar was interrupted.
Today, most of the leagues have returned and sports wagering is back. It is now in a good place and things will probably get better in 2022. Online sportsbooks are likely to make more profits next year.
Sports organizations have lots of testing procedures in place following the pandemic. Operators, suppliers, and affiliates have adapted too. 2022 should be the year when they reap the benefits.
There is a high demand for big sports events and tournaments after COVID shutdowns and they will be beneficial for both bettors and sportsbooks.
6. Increase in Sportsbook Bonuses and Promotions
The best online sportsbooks are already providing bettors with huge bonuses and promotions. However, they are expected to do better next year. They may offer extra promos for specific sports in an attempt to increase the number of bets.
The most common types of bonuses for online sportsbooks include welcome bonuses and refer-a-friend programs. Most sportsbooks rely on them to get new bettors and encourage them to play.
Bettors are always advised to read the terms and conditions of any bonus or promotion before playing. There may be restrictions for certain geographic locations, users, leagues, or sports. Some promotions may not be as profitable as they seem.