The future of sports betting is an exciting topic that has been gaining a lot of attention in recent years. With the rise of online betting platforms and the legalization of sports betting in many states, the industry is poised for significant growth in 2021.
One trend to watch in 2021 is the continued expansion of online betting. According to a report by Market Research Future, the global online gambling market is expected to reach $127.3 billion by 2027, with sports betting playing a significant role in this growth. This trend is being driven by the increasing use of smartphones and the convenience of being able to place bets from anywhere at any time.
Another trend to watch is the integration of technology into sports betting. This includes the use of artificial intelligence and machine learning algorithms to analyze data and predict outcomes more accurately. As Drew Henson, CEO of Bragg Gaming Group, explains, “Technology is revolutionizing the sports betting industry, making it more accessible and efficient for bettors.”
In addition, the legalization of sports betting in more states is expected to continue in 2021. According to the American Gaming Association, 25 states and the District of Columbia have legalized sports betting, with more states expected to follow suit in the coming years. This trend is being driven by the potential for tax revenue and job creation that comes with legalizing sports betting.
Overall, the future of sports betting looks bright in 2021. With the continued expansion of online betting, the integration of technology, and the legalization of sports betting in more states, the industry is poised for significant growth in the coming years. As Mark Balch, COO of Sporttrade, puts it, “The future of sports betting is full of opportunities for innovation and growth, and I’m excited to see where it goes in 2021 and beyond.”