Sports betting has grown to become one of the leading pastimes for persons above the age of 18. It is a way to make money, and at the same time, it is a form of entertainment when punters do it for fun. Since the advent of the internet, the gambling and casino industries have grown massively following many users flooding the available betting websites.
Internet provided a new way of betting, as bettors would make wagers from their homes, even using their mobile phones. To lure more users into betting, and to beat the competition, companies invented several incentives. Joining bonuses and crazy Betway online sports betting meant that the number of new website users was constantly increasing. But what are the reasons behind the industry thriving over the years?
#1. There is a lot of money for punters
Sports betting is fun and love for sports like on betway. While there are no guarantees in betting, punters can make money every day. Tips and betting guides for rookies are available online, meaning that everyone who has attained the legal age of betting can do so. Records of people winning huge amounts of money are used as testimonials for new users.
#2. Mobile Betting
Initially, sports betting was about physically visiting a brick and mortar casino, or using a PC to place a wager. The challenges attributed to the two betting modes led to mobile-enabled technologies for betting and gambling. Today, bookmakers are developing mobile-friendly apps that can be downloaded free for Android and iOS devices. Besides, the number of people owning mobile phones is very high.
#3. Availability of Several Betting Companies
Competition in any sector always favours the end-users. It is no different in the betting line. Today, there are thousands of betting companies looking for customers all over the world. They award joining and winning bonuses to lure masses. They have also introduced several betting markets across multiple sports disciplines to make winning less complicated, and more achievable to everyone. Continuous advertising has also led to more and more people discovering the appeal and betting potential as an income-generating venture.
#4. Relaxed Betting Regulations by Governments
There was widespread condemnation of betting as a vice across many countries, but that has been changing over the last couple of years. Governments realize that encouraging investors to invest in their countries creates jobs for their citizens, and they earn tax. Consequently, these governments have put in place some friendlier terms for companies looking to invest in their countries.
#5. Mobile Money
Continents like Africa are benefitting immensely from the convenience of mobile money. For example, M-Pesa is a leading mobile money transfer platform that allows users to make payments and withdraw across several registered platforms. Today, one does not necessarily need to visit a bank to access their money, and winnings can be withdrawn straight to their mobile phones.
Other factors that have led to online sports betting growth include television broadcasts and advertising, inclusion of more sports, and joblessness among youths.