High Times for the Online Sports Betting Industry

Posted By: Date: 10/16/2010 at 12:00 am Leave a comment

The online gambling industry has maintained its hold as one of the top revenue yielding e-commerce industries in the world for many years running, but it seems that at present, online sportsbooks are taking the lead among related companies by leaps and bounds.

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The online sports betting industry is currently soaring to new heights, while online poker operators are seeing less and less business overall. Online casinos and online bingo sites have always seen a great fluctuation in membership spending, so we shouldn’t be too surprised that they are leveling out these days.

There are several factors that have come together to give online sportsbooks such a significant boost at the moment. The kick off of the 2010/11 season of the NFL certainly had an effect, as has the running of the MLB playoffs pennant race. In addition, Premier League Soccer always brings in thousands of punters from all over the globe.

The wide range of popular sporting events isn’t the only thing causing a surge in online sports betting. All across Europe, SmartPhones are being blamed for an excess in mobile betting. It seems that ever since these newly equipped cellular devices were introduced, more and more gamblers are placing bets at online sportsbooks in a faster, more convenient setting, making for a higher multitude of bets overall.

The legalities of online sports betting have spread to a much further global reach than just a few years past. Though the US government has yet to legalize sports betting online, most other major countries have chosen to accommodate these companies with regulatory licenses.

Last but not least, now that online sportsbooks have spread so indelibly, the competition has gotten incredibly fierce. That translates to a lot of great and unique promotions for punters. Free bets, matching bets, deposit bonuses, reduced juice, there are many ways online sportsbooks have decided to reward players for choosing to place wagers at their sports betting site over another.

The online poker industry is not fairing so well, not that it’s taking a heavy enough hit to threaten the market by far, but none the less the numbers are falling. While sports bettors are logging on from all over the globe, even the biggest sites like PokerStars are losing numbers. The world’s leading online poker site was recently forced to inform all of its members from Washington State, USA that they can no longer play for real money at PokerStars.

For USA players, it’s not just a matter of legalities. The economy has been in a substantial slump for awhile now and fewer Americans are finding the extra funds to gamble over the internet. Of those that do find those funds readily available, online sportsbooks seem to be getting the brunt of the action.

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