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    Nagpur City No 1 eNewspaper : Nagpur Today

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    Published On : Tue, Jan 21st, 2020
    Sports News | By Nagpur Today Nagpur News

    5 facts that you might not know about Sports betting

    Sports betting is becoming one of the most lucrative sectors in the world thanks to the digital revolution of the 21st century. People around the world, mostly youngsters between the age of 15 to 25 are getting into the industry thanks to its growing popularity. Here are some facts that everyone in the field might not be aware of regarding Sports Betting.

    1) Monetary Volume of Sports Betting: 

    The overall size of sports betting around the world is extremely difficult to determine, because of a dearth of source and recorded data across different nations. That being said, experts have been able to estimate that international sports betting today have a market capitalization of $250 billion. Sports betting currently accounts for a major portion of the global gambling revenue, (little more than 40%) which is more than any other section like casinos, poker and other games and market research says that it might increase further in the coming years.

    2) Laws regarding Sports Betting:

    Nations around the world are divided on their standpoints on sports betting.
    In USA, accepting or paying off bets is heavily regulated but legal. Currently, a 55 percent majority of Americans are in favour of legalizing betting on pro sporting events. Each state has their own legislature on sports betting and 19 states have made it legal with New Hampshire becoming the latest one to implement the new law.

    In India, gambling laws are extremely stringent. Here, offshore casinos have sites that focus on Indian bettors and they offer Indian rupees as payment methods. Detailed reviews of Indian online casinos give an idea of the gambling and sports betting scenarios in the country.
    Sporting organisations around the world also have varying opinions on betting. The National Football League, for example, is completely against any sort of legalization of sports betting, and believes it risks bringing in corruption into the game. In contrast, the CEO of the International Cricket Council believes sports betting, particularly in India, should be legalized to weed out illegal Bookmakers that have caused match fixing in the past.

    3) Choice of sports for betting:

    One of the most wagered sports around the world is soccer or football. The game has a tremendous fan base of over 3 billion people and close to 250 million of them are estimated to actively bet on the different outcomes of this exciting sport. It is closely followed by cricket which also occupies a significant portion on the sports betting market.
    Other games that people prefer to bet on are basketball, tennis, golf, Formula 1 and boxing, among others.
    The popularity of these sports obviously vary from country to country and may be attributed to factors like wide television coverage, easy availability of vast information, variety of options, etc.  Horse racing receives heavy betting volume in the US, UK, France, Australia, and South Africa, which are all sizeable sports betting markets.

    4) Sports Betting stats around the world:

    According to the survey data from leading business data platform Statista, over 50% of Americans said they had participated in sports betting at least once in their lives. In 2019, winnings from sports booking from the Super Bowl amounted to approximately 10.78 million U.S. dollars.

    The Asia Pacific region contribute to the most significant percentage of sports betting in the world, with Hong Kong and Macau being the leading regions of revenue generation.
    The rapid increase over the years can be reasoned by the growing prosperity and digital connectivity in the region. Today, the projected growth rate of Asia’s sports betting market far outpaces any other region in the world.

    5) Analysing games and bookmakers:

    Punters need to keep in mind while placing a bet that they are playing against not the opponents of their favoured team but the Bookmakers that place their bets. Bookmakers aim to make profit irrespective of what the outcome is. In fact, the chances of winning for bettors are actually slim, because Bookmakers make money when bettors lose,and they tend to place odds that favour them. They want bettors to win just so much so that they keep playing.

    The offers of the bookmakers keep changing so it is advisable to look through the offers of few bookmakers before one finds an interesting option. For this, it is a good idea to have accounts on the websites of several bookmakers. There are also some websites that compare and find out the best possible odds of a game which might be helpful for bettors.

    For analysing outcomes of a game, it is a good idea to be thoroughly aware of details like, the standings of the teams on the league table, statistics of the players, history, etc. There is no doubt that mathematics and probability play a significant role in strategic decision making while betting on sports.

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