How the Sports Betting Boom is Shaping the Online Casino World

With Nevada setting the standards, more states in the US followed suit including the District of Columbia. Though other parts of the world took a while to jump on the board, things have already started heating up. With the way sports betting is gaining traction, the online casino world is in for a massive transformation.

What is Sports Betting?

Online sports betting involves bettors or punters leveraging an online platform or sportsbook to place bets. In places like Europe, there are enticements like 50 euro no deposit bonus in the online casinos used to attract potential bettors into wagering. This can be beneficial to both newbies and those on the lookout for risk-free ways to place wagers.

The Legalization of Sports Betting in the US Led to the Recent Boom

The extensive and rich history of sports betting is traceable to ancient civilizations such as the Romans and the Greeks, but for the United States, wagering on sports events was deemed illegal until the Supreme Court pronounced it legitimate in 2018. Needless to say, this Supreme Court pronouncement had a major impact on the global sports industry and led to better engagement and viewership with games.

The effects of legalizing sports betting did not end with improved engagement with sporting activities, it also led teams and sports leagues to embrace sports betting sponsorships and partnerships as another means of revenue generation. The ensuing collaboration between the betting industry and sports presented both parties with new opportunities. In addition, online sportsbooks started rising and with the help of mobile betting apps, sports bettors found it more convenient to wager from their comfort zones. This naturally led to a boom in sports betting activities which reflected in a corresponding boom in the online casino world.

Today, sports betting’s global market size is pegged at $100 billion, but other online casino games boast a global market size of $600 billion. This trend shows that sports betting is not relenting at all despite its relatively new legal status in the gambling world.

The Impact of Sports Betting in the Online Casinos 

For years, most online casinos only featured sports betting as a mere add-on. The essence was just to boost the flavor of their gambling facilities but slot machines, roulette, keno, and other table games were considered to be the real action that generated the major revenue.

 However, the legalization of sports betting heralded good tidings for online casinos as it wasted no time in taking center stage. Digital betting has to take some credit for this surge and in the same way as other online activities, the Covid-19 lockdowns gave sports betting a major boost. Again, the rise of online platforms and bookies and their subsequent proliferation improved accessibility and convenience for potential bettors who no longer need to visit brick-and-mortar casinos to place bets. Since online casinos are now ubiquitous, people wager from their homes, offices, and any convenient spots on the globe.

With improved accessibility, the impact of sports betting on the online casino world is quite massive, especially in Europe and America where the industry churns out revenue in billions of euros and dollars.

In addition to the online casino world, they now have betting lines rolling across television screens during sports broadcasts with pro leagues and teams going into direct partnerships with wagering companies and media entertainment firms. This includes the family-friendly Walt Disney Co.. All these have opened up all sorts of opportunities for the sports betting industry, boosting their dominance in online casinos.

Sports Betting Types That Dominate the Online Casino World

In online casinos, punters are exposed to a variety of sports betting choices but a few are quite dominant.

1. Moneyline Bet - A moneyline bet allows a bettor to pick which team emerges victorious without worrying about spreads or points.
2. Point Spread Betting – After betting on a possible winner, a punter also wagers on the margin of defeat. The favorite ought to win by a predetermined number of points. On the flip side, the underdog/runner-up can lose the game but is still expected to “cover the spread.”
3. Over/Under Bet or Totals – Rather than pick a single winner, a bettor can wager on the score of two teams, combined. The number set by the sportsbook will guide you to wager on whether the entire points or scores will be over/under a certain figure
4. Parlay Bets – With parlay bets punters can combine several bets into one and every individual leg or bet in his parlay must win for him to cash in. Though highly risky, it promises a larger payout.
5. Prop Bets or Proposition Bets – Rather than game outcomes, punters wager on some specific game events like the number of touchdowns a player is likely to get in a football game.
6. Teaser Bets – Similar to a parlay bet, a teaser bet only allows punters to adjust the total or point spread in their favor. Winning with teaser bets is easier but it promises lower payouts relative to parlays
7. Round Robin Bets – This type of bet breaks up a parlay into several smaller bet combinations, preventing the need for a punter’s picks to hit in order to win something. Round Robin bets spread the risks and if most of a bettor’s picks win, it can bring a strong payout.
8. Matched Betting – This type of betting leverages free wagers, including promotions from sportsbooks. Betting on both sides, helps a punter secure a profit, the results notwithstanding.
9. Progressive Betting – This allows a punter to change his bet based on his previous bet. If he wins, he might just bet more. If he loses, he might bet less. This helps maximize a bettor’s winnings in streak time and minimizes his losses in a slump.
10. Unit Betting – This entails betting a fixed portion of a bettor’s bankroll each time. This ensures consistency while preventing wastefulness on a single bet.

Wrapping Up 

Sports betting has not just become a major part of the online casino world, it is also doing a great job of reshaping how things are done in the industry. The positive impacts of sports betting in the casino business far outweigh the negative ones and predictions are quite good for both punters and online sportsbooks.