Betting on Sports: a Global Look
Betting on sports is a global phenomenon. The year 2018 was a landmark year for gambling in the United States due to the fact that the government repealed the Professional and Amateur Sports Protection Act (PASPA), which made it possible for individual states to decide whether to legalize sports betting. Seven states launched regulated sports betting, and more are likely to follow in 2019, especially when they see the results of their neighbors.
While betting on sports is a year-round for many Americans, one of the stand-out events is definitely March Madness, a US men’s basketball tournament at the collegiate level, run by the NCAA. Here is a quick recap from an article published in Slate: "we trace March Madness back to Illinois’ statewide high-school basketball tournament, which began in 1908. The article goes on to say explain that in 1939, an official with the Illinois High School Association, Henry V. Porter, penned an article called March Madness for the organization’s in-house magazine. “A little March madness may complement and contribute to sanity and help keep society on an even keel,” he wrote. Three years later, he followed up with a poem, “Basketball Ides of March,” which read in part: “A sharp-shooting mite is king tonight/ The Madness of March is running.” The phrase was confined to Illinois high-school ball until 1982, when CBS broadcaster (and ex-Chicago Daily News sportswriter) Brent Musburger used it during his network’s NCAA tournament coverage.”
This year March Madness is making even more headlines than usual, not because of superstar-to-be Zion Williamson, but because for the first time in college basketball NCAA Tournament history, legal sports betting in the US extended outside of the state of Nevada, bringing the event to another dimension.
The March Madness tournament bracket is more than a tradition in the US, with just about every group of friends and colleagues participating, in addition to the President, even if those bets were not legal and just a way to have fun during the tournament. The American Gaming Association (AGA) issued some figures that are quite simply out of this world: 47 million American’s will bet near U$S 8.5 billion on the NCAA Tournament, with one out of five US adults taking part.
Source: Sport Illustrated |
A few weeks ago, Bill Miller, AGA’s president and CEO, made a clear statement about this trend: “During this year’s tournament […] sports fans are expected to bet 40% more than they did on this year’s Super Bowl”. We can argue that it’s difficult to make a comparison between one event and a whole tournament, but it still shows the gigantic amounts people will bet on a college tournament!
A European tradition
Europe has a long history of betting on sports. The first recorded bets date back more than 2,000 years ago. The Greeks’ passion for sports led them to introduce the Olympics to the world, accompanied by the earliest records of betting on sporting events. From the Greeks, betting on sports spread to ancient Rome where it was eventually accepted and even legalized.
The Asian share
On the other side of the world, Asia accounts for a big share of the betting industry. The good thing about the Asian sports betting market – particularly in Southeast Asia – is the fact that it is a relatively new space – at least on the legal side of things. The diversity and the regional sport tradition make this area even more exciting: the Philippines are more focused on boxing and basketball while India is very keen on cricket games. Hong Kong is the place to be for bets on horses, with the Hong Kong Jockey Club posting a record turnover of H$K234 billion (U$S29.8 billion) in 2018. The turnover for horse-racing bets was H$K122.8 billion (U$S 16 billion), which represents a 6% increase from the previous year. And this doesn’t even include China, one of the biggest betting countries, with the limitation that there are very few opportunities to bet legally…
Source: Hong Kong Jockey Club |
Unstoppable growth
No other single factor has increased the growth of sports betting around the world more than the arrival of the internet. Before the internet, sports betting, though popular, was nowhere near as widespread as it is today. The beauty of internet is that people could place bets anytime from anywhere, on any device. As a result, sports betting has exploded ever since and continues to grow year after year.
The number of betting companies has grown exponentially in the last 10 years, and they pay U$S330.5M per year in sponsorship deals to sports clubs, according to a recent study by Sportcal. To take an example, Betway, a global online gambling company based in Malta, has 23 active deals across numerous sports including soccer, snooker, cricket and e-sports. This is a “right-on-target” type of promotion: where else would you find potential sport betters if not directly on sportsman jerseys and stadium billboards?
The number of betting companies has grown exponentially in the last 10 years, and they pay U$S330.5M per year in sponsorship deals to sports clubs, according to a recent study by Sportcal. To take an example, Betway, a global online gambling company based in Malta, has 23 active deals across numerous sports including soccer, snooker, cricket and e-sports. This is a “right-on-target” type of promotion: where else would you find potential sport betters if not directly on sportsman jerseys and stadium billboards?
Source: Getty Images |
What is happening on the illegal side?
The world of betting in general has always been associated with corruption and other illegal activities. We can find various reasons for illegal betting. Gamblers are usually attracted by a combination of factors. In some countries, the most basic reason is a complete ban on sports betting, meaning that potential gamblers have to go through an illegal system to place their bets. Another reason for illegal betting is that some betting syndicates offer better odds, making the payout more attractive. There is also a psychological barrier, a social stigma that can play a role in some cases, especially when a gambler needs to go to a physical location to place a bet, which makes it harder for them to remain discreet about their gambling habits.
Patrick Jay, a British independent betting expert invited to a 2015 United Nations conference focused on crime said that a conservative estimate of the worth of the betting market would be around U$S1 trillion. Then he added the shocking part: "The trillion is all global sports betting, of which the illegal amount would be 90 per cent of it.”. While these numbers cannot be proved and are very rough estimates, they clearly show the dark side of sport betting and the fact that it will be almost impossible to attach an accurate figure to this huge and complex industry.
Patrick Jay, a British independent betting expert invited to a 2015 United Nations conference focused on crime said that a conservative estimate of the worth of the betting market would be around U$S1 trillion. Then he added the shocking part: "The trillion is all global sports betting, of which the illegal amount would be 90 per cent of it.”. While these numbers cannot be proved and are very rough estimates, they clearly show the dark side of sport betting and the fact that it will be almost impossible to attach an accurate figure to this huge and complex industry.
This is just the beginning
Betting in sport has increased in recent years, and while some countries are still trying to contain and legalize the whole process, it is undeniable that the potential growth of the industry is exponential, especially if the expansion in the US keeps its momentum.A The Consultancy Group article, written by Alessandro Di Benedetto
Don't forget to hit the Subscribe button to be notified of our new article!
I really appreciate the kind of topics you post here. Thanks for sharing us a great information that is actually helpful. 126abet.com is one of the best Online Betting Platform Singapore.
ReplyDeleteI think I have never seen such blogs ever before that has complete things with all details which I want. Ab88forum.com is one of the leading Online Sports Betting Community in Singapore
ReplyDeleteThis is the impressive blog with the valuable information. 3webet.com is one of the best sports betting sites at the affordable prices.
ReplyDeleteThis is one of the most incredible blogs I've read in a very long time. The amount of information in here is stunning as we provide Latest 4D Result Malaysia at affordable prices. for more info visit our website.
ReplyDeleteThis one is good. keep up the good work!.. 해외배팅
ReplyDeleteFantastic blog post!! I am really impressed by your writing and glad to share this mind blowing review.
ReplyDeleteI was waiting for this type of chunky topic so I can get more information about Online Sports Betting App.
Thanks for sharing this information!!
Good web site I've got here.
ReplyDeleteIt's hard to find quality writing like yours these days. You have even managed to make it understandable and peaceful to read.
You have some real writing talent.
카지노사이트
https://yhn777.com 카지노사이트
I read this article; it is really informative one. Your way of writing and making things clear is very impressive. casinotop.com is the place where you get best online casino. Thanking you for such an informative article.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteGreat tips and very easy to understand. This will definitely be very useful.Some genuinely fantastic content on this site, thanks for contribution. bị ong đốt đánh con gì dễ trúng
ReplyDeleteThis is an awesome post. Really very informative and creative contents to know more about sports betting . This concept is a good way to enhance the knowledge of betting. sports betting online singapore
ReplyDeleteIf you are interested in data science, you may want to check out its training in Delhi. In Delhi, you can take courses in this field, which will help you hone your skills in this field. Details about Data Science Training Contact SOL Technologies Solutions-+91-9310332343 OR Visit Website- http://www.pythontrainingdelhi.com/python-with-data-science.html
ReplyDeleteI discovered such a huge data of information in your blog which you have shared here about sports betting. Truly it's an extraordinary article. continue posting, Thank you. mobile casino Singapore
ReplyDeleteThanks for an exciting blog. What else may I get that kind of info written in such a perfect approach? I have undertaken that I am simply now operating on, and I have been at the lookout for such information. best online casino
ReplyDeleteThe data you gave about web-based wagering is noteworthy. You have given extraordinary substance, which is valuable for everybody. A debt of gratitude is in order for this post. singapore online gambling
ReplyDeleteThe concept you provided in the blog is really appreciable and should be adopted by the people of the planet. Please write a few lines about Rubber Flooring | Commercial Flooring | Flooring Tiles UK to increase my information about them as I want more knowledge about them.We are providing a online game which you can play with your friends and you could have a great fun.This game is full of fun so you can visit it here UFABET
ReplyDeleteThe writing style you opt is really impressive and touches the mind and soul. Please produce a few lines about the topics like Gym Mats | Gymnastic Rubber Matting | Exercise Rubber Mats UK. I want the reliable information about them as I want to increase my knowledge about these magical items.We are providing a online game which you can play with your friends and you could have a great fun.This game is full of fun so you can visit it here EZ Slot
ReplyDeleteThe world of technology is progressing very rapidly. I write your blogs as these add more and more information to my knowledge. Keep it up and please produce something informative about Gym Flooring | Rubber Gym Flooring | Commercial Gym Flooring UK. This is because I need a more comprehensive approach about them.We are providing a online game which you can play with your friends and you could have a great fun.This game is full of fun so you can visit it here JOKER Bet
ReplyDeleteI appreciate your recent effort. The style is really impressive. Can you please produce something productive about Rubber Sheets - Rubber Sheet Rolls | Rubber Sheet UK. This will help me to get recent information about the product.We are providing a online game which you can play with your friends and you could have a great fun.This game is full of fun so you can visit it hereSA Casino
ReplyDeleteThe words you have produced are really dipped in the sea of information and knowledge. Please provide me something really impressive and informative Playground Tiles | Playground Safety Tiles | Playground Rubber Tiles UK. This is because I want to indulge myself in the business of these products so I need more information about them.We are providing a online game which you can play with your friends and you could have a great fun.This game is full of fun so you can visit it here Sexy Gaming
ReplyDeleteExtraordinarily fulfilled to express, your post is fascinating to scrutinize. I never keep myself from saying something with respect to it. Thankful for sharing this blog here. Keep sharing such an informational blog. online gambling company singapore
ReplyDeleteA debt of gratitude is in order for your data, it was truly exceptionally helpful.Beginners to the competitive gambling sector consider and make certain several things with an objective to choose and join in one of the most reliable bookmakers online.You may wish to sign up at the Fun88 and think about whether giải thích fun88 có uy tín hay không at this time.
ReplyDeleteIt's an exceptionally fascinating article. You've conferred to us. Your forming capacity is so astounding, and the idea of your data is excellent. I'm fulfilled to reach here. best online sportsbook Singapore
ReplyDeleteA very awesome blog post. We are really grateful for your blog post. You will find a lot of approaches after visiting your post. Mainliga
ReplyDeleteI have bookmarked your website because this site เว็บแทงบอล188bet
ReplyDeleteA lot of valuable data can be taken from your article. Genuinely it is a significant and factual article for us. Thankful to you for sharing an article like this. online betting in Malaysia
ReplyDeleteI found decent information in your article.Real World Fixed Matches I am impressed with how nicely you described this subject, It is a gainful article for us. Thanks for share it.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteGreat Article. Thank you for providing such unique and valuable information to your readers. I really appreciate your work. thenyic.org
ReplyDeleteThe article you have shared here is very informative and the points you have mentioned are very helpful. I admire this thenyic.org for the well-researched content and excellent wording.
ReplyDeleteYou have done good work by publishing this article here. I found this article too much informative, and also it is beneficial to enhance our knowledge.Online Sports Betting Community in Singapore Grateful to you for sharing an article like this.
ReplyDeleteYou have done good work by publishing this article here. I found this article too much informative, and also it is beneficial to enhance our knowledge.singapore online betting Grateful to you for sharing an article like this.
ReplyDeleteI got information from your article which you have shared here. I will be sharing with my friends who will need this info. Thanks for it, Keep posting.4d lotto result today malaysia
ReplyDeleteJoker123 เล่นเกมสล็อตอย่างไรไม่ให้น่ารำคาญ เล่นแล้วมั่งคั่ง joker123
ReplyDeleteJoker123 เว็บไซต์เกมสล็อตที่ได้รับความพึงพอใจในแวดวงคาสิโนเป็นอันดับที่หนึ่งเนื่องจากว่าปัจจุบันนี้ได้มีการสะสมเกมสล็อตมาไว้ภายในระบบ และก็มีให้เลือกเล่นมากมายก่ายกองมากมายเกม และยังมีลักษณะของการพนันที่ง่าย แล้วก็ยังมีอัตราการชำระเงินรางวัลที่สูง รวมทั้งคุ้มอย่างยิ่งอีกด้วย แม้กระนั้นการเข้ามาพนันนั้นไม่เฉพาะแต่จะสร้างรายได้ให้กับนักพนันแค่นั้น แต่ว่ายังสามารถสร้างความสนุกสนานร่าเริงความน่าระทึกใจให้กับนักพนันได้อย่างดีเยี่ยมอีกด้วย รวมทั้งวันนี้พวกเราจะพาคุณไปทำความรู้จักกับการเล่น สล็อตออนไลน์ อย่างไรไม่ให้น่ารำคาญและก็ถ้าหากเล่นได้รับรองว่ามั่งคั่งแน่จะคืออะไรบ้างไปติดตามมองกันได้เลย
It is truly a well-researched content and excellent wording. I got so engaged in this material that I couldn’t wait to read. I am impressed with your work and skill. Thanks. Fixed Matches Source
ReplyDeleteI generally check this kind of article and I found your article which is related to my interest. Genuinely, it is good and instructive information about betting. Thanks for sharing an amazing article here.
ReplyDeletebetting site in singapore
Best Party Light Hire Adelaide, Australia
ReplyDeleteYou've provided quite good information here about Horse Racing With Citibet Malaysia . This is fantastic since it expands our knowledge and is also beneficial to us. Thank you for sharing this piece of writing.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteIt’s very useful site for learn. This information’s are very helpful to us. It will improve my knowledge. Thank you for sharing this wonderful site.This was an nice and amazing and the given contents were very useful and the precision has given here is good. gi8
ReplyDeleteNice info, I am very thankful to you that you have shared this special information with us. I got some different kind of knowledge from your web page, and it is really helpful for everyone. Thanks for share it. Read more info about conference seminar registration service
ReplyDeleteSeveral websites allow you to play for free with the opportunity to win real money. How is this possible? Tactful marketing strategies are at work. 꽁머니 사이트
ReplyDeleteExcellent job, this is great information which is shared by you. This info is meaningful and factual for us to increase our knowledge about it. about Get Free Nhl Betting Prediction Online So please always keep sharing this type of information.
ReplyDeleteThe article you've shared here is fantastic because it provides some excellent information that will be incredibly beneficial to me about Singapore Best Online Betting Site Thank you for sharing that. Keep up the good work.
ReplyDeleteI found decent information in your article.online betting in Singapore I am impressed with how nicely you described this subject, It is a gainful article for us. Thanks for share it.
ReplyDeleteYou've written an excellent post, and you've shared it with us. Your article provided me with some unique and useful knowledge about singapore sports betting. I appreciate you sharing this text with us.
ReplyDeleteI generally check this kind of article and I found your article which is related to my interest. Genuinely it is good and instructive information,Citibet Horse Racing Singapore Thankful to you for sharing an article like this.
ReplyDeleteYou have Shared great content here about Trusted Online Betting Malaysia I am glad to discover this post as I found lots of valuable data in your article. Thanks for sharing an article like this.
ReplyDeleteI think this is an informative post and it is very useful and knowledgeable. therefore, I would like to thank you for the efforts you have made in writing this article. 먹튀검증소
ReplyDeleteI am very thankful to you that you have shared this information with us. Read more info about sa lotto draw numbers. I got some different kind of knowledge from your web page, and it is really helpful for everyone. Thanks for share it.
ReplyDeleteGreat article! Insightful analysis and well-written. I particularly enjoyed the depth of research. Looking forward to more content like this Luck Exchange ID
ReplyDelete