Sports betting has long been a favorite past-time of sports fans worldwide. As gambling laws become more relaxed, it’s never been simpler to get involved in the world of online gambling.
From an industry standpoint, online sportsbooks have significant markets to exploit and more competition. For this reason, they are required to make their offers more lucrative to attract new customers.
Searching for the biggest sportsbook deposit bonus and ongoing free bets is a huge priority for new customers. But are these customers professional gamblers or fans looking to bet on sports for fun?
Are Fans More Likely to Watch When Betting?
Online sports betting is not something that exists independently of sports. On the contrary, sportsbooks have changed the way people watch professional sports leagues worldwide.
One poll reveals that 70% of Americans say they’re more likely to watch a sports event if they’ve placed a bet on it.
The industry has reacted to findings like this by providing online live streams for people who have placed a bet on a specific event. Partnerships with major sports teams and broadcasters have made watching and playing possible.
Watching sports and betting on sports are now intimately entwined, with both influencing the other.
Do Most Fans Play for Fun?
Everyone has seen the statistics that most of the gambling industry’s profits come from their hardcore players. Yet, the professional sports bettors continue to make up an extreme minority of customers.
The majority of fans are people who play for fun. Whether it’s making a wager on a one-time event like the Super Bowl or the Kentucky Derby or betting only on the teams they follow, these are who most sports bettors are and will continue to be.
How is the Industry Encouraging More People to Play?
The lack of any authentic gambling culture in the U.S., outside of Nevada and New Jersey, means many people aren’t used to placing bets at all. Previously, people who didn’t want to travel to either of these states had no choice but to gamble illegally or not at all.
When federal laws on gambling prohibition were struck down, 25 states and Washington D.C. decided to legalize online sports betting. Sportsbooks have reacted by developing a multi-pronged approach to spread awareness and encourage people to get involved.
Like the cogs in the music industry, the sports gambling industry also has multiple cogs it uses to encourage more betting by sports fans. Some of these techniques include:
- Technology – Sportsbooks have leveraged smartphone technology to make placing bets more convenient for people. Now you don’t need to visit a brick-and-mortar sportsbook to gamble on your favorite sports.
- Real–Time Betting – In-play betting has been something of a revelation for the gambling industry. Sportsbooks now allow their customers to bet on any aspect of a contest as the game is being played. With real-time streaming, customers now have more options for winning a profit than ever.
- Deals – Sports betting deals have never been more lucrative, with so many sportsbooks competing for the same market.
- Smart Marketing – Flashy apps and combining sportsbooks with online casinos aim to transition customers from one to the other. This is the basic psychology of getting the desired action from a customer.
- Choice – Ultimately, there’s more choice than ever. Whether you want to bet on a Japanese baseball game or an English soccer match, you can do it from the same app at the click of a button. There are even virtual sports to bet on when there’s nothing else going on.
Sportsbooks need to work harder than before to access these newly emancipated markets. U.S. sportsbooks have a wealth of opportunities, but they still lag a long way behind their European competitors.
The goal of the sports betting industry is, ultimately, to encourage fans of sports teams to bet on more than their favorite team’s games. Since so many fans play purely for fun rather than to make money, they need to up their incentives to encourage this market to go further with their betting activities.
Conclusion
Most fans are not professional gamblers. They bet money for fun because it ramps up the emotions beyond simply loving a team they’ve followed their whole lives. Putting skin in the game makes them feel like they have a stake in the outcome.
Sportsbooks need to take advantage of this if they’re going to appeal to the new markets opened across the U.S. With half the country still yet to legalize online sports betting, sportsbooks have a long time to perfect their strategies in anticipation.
Do you bet on your favorite sports teams?
