In 2020-2022, the live online casino and betting industry has undergone some important changes. The betting market has been affected by the pandemic. This has not stopped new trends and technological advances from cementing the industry as a key daily entertainment.
Modern technology is an important part of the betting industry. It made last-minute betting in real-time possible and the most popular option that sports betting platforms offer.
Even as the pandemic put a brake on sports in 2020, the growth of the sector has been as strong as ever. Revenues reached $1.5 billion in the US alone, despite sports betting not yet being legal in all states. So, what are the main trends that online betting has followed to make 2022 one of the most successful years in its history?
Sports betting was hit hard in the months of the global COVID-19 pandemic when sports leagues went on hiatus, leaving betting fans unable to play. Although, this is not entirely true. The industry just needed to look deeper into the world of sports to find the solution it needed to keep the business afloat. And they found it. Esports, or professional video games, is an industry that attracts millions of fans. Huge income is brought by live broadcasts, the sale of merchandise, tournaments and video game leagues.
Esports tournaments have become a novelty for sports fans looking for an alternative. The betting industry recognized this nascent potential niche and jumped into it. Betting enthusiasts can bet on the best esports tournaments and leagues around the world. This trend continues to grow with betting platforms now seeing the value of esports alongside mainstream sporting events.
Use of Cryptocurrencies
The blockchain provides new and improved levels of security when conducting monetary transactions. Online sports betting companies following the example of companies with online casinos and live casinos use cryptocurrencies such as Bitcoin, Dogecoin, Ethereum and others.
Cryptocurrencies offer secure payment methods as well as instant transactions without intermediaries.
The level of privacy of cryptocurrencies is also one of the main reasons why they have become so popular among online bettors. Players using cryptocurrencies remain anonymous. This payment option is ideal for those trying to keep their online presence out of the spotlight.
Real-Time and Last-Minute Betting
Although all sports betting fans have different preferences. This does not necessarily mean that they will all sit and wait for their favorite sports events broadcast to bet money. Most beginner online betting enthusiasts are young people who live at a fast pace and do not have much free time. Therefore, the possibility of real-time betting as well as last-minute betting has become a popular option and trend this year.
Most sportsbooks offer fans a live betting service during matches. It has become a trendy and very popular betting option not only for busy fans but also for indecisive fans who wait until the last minute to place a bet.