The sportsbook business is thriving! The market has grown so big, and it will keep growing bigger. According to a credible source, the global market for the Sportsbook business had a valuation of over $76 billion as of 2021. The same source speculates that there will be an increment of up to 10% annually between this year and 2030. This emphasizes the size and potential of the global market for sports betting.
When it comes to the sports people bet on, a simple majority of the bookies’ income is incurred from gambling on football fixtures alone. According to this source, football takes more than 23% of the total betting market share. This is predicted to increase in the near future. Horse racing comes in next as a runner-up as it holds the second spot on the list of sports with the biggest market shares. Analysts also predict a bright future for this sport in the near future in terms of the size of its market share.
Sports such as Baseball and Basketball are also expected to get a boost in the near future thanks to yearly events such as leagues for the respective sports. Such events include:
- The English Premier League
- Fantasy Premier League
- National Hockey League
- Major League Baseball
In summary, one can assume that the sports betting industry has a bright future.
The Best Way to Expand Sportsbook Content
The short answer is via live betting content. Live betting is currently the rave of the Sportsbook industry and one of the fastest ways to build your customer base. Initially, most sportsbook businesses include content such as virtual sports fixtures and real-time sports fixtures. Later, most sportsbooks introduced live betting to their online platforms to allow customers to place bets on matches already happening.
Besides, most punters have developed a preference for placing bets online from the comfort of their homes or offices. Gone are the days when people would walk to the nearest betting outlet to indulge in their gambling pleasures. The touch of a button has readily replaced that. Plus, live betting is better suited to online betting sites.
It also gives punters more options because there’s more content. Some punters may strictly decide to dabble exclusively in live betting, just as there are punters who exclusively place bets on virtual matches.
The Sportsbook Data Feed Software and why it’s Good for Business
Data is the core of a live betting experience. Sportsbook businesses that want to get ahead of the competition should leverage the use of software such as sportsbook data feeds. Data feeds are usually influenced by real-time data and live odds data. A bookie with accurate data feeds is sure to draw in and engage customers, attract sponsorship deals and earn more revenue from its customers.
The sportsbook data feed product has many amazing features, making it immensely beneficial to Sportsbook business owners. This product doesn’t limit the display of live feed to just raw information in texts and numbers; it extends to stats stories, visually appealing graphics, and even fan engagement triggers. Its features and high points include:
- Real-time data feed
- Odds conversion
- All kinds of bet
- Prompt customer support
- Exclusive live betting odds
- Fixture trackers
- User-friendly interface
These features, aside from being mouth-watering for seasoned punters, come with certain benefits such as:
- Allowing bookies to create real-time stakes
- Enabling sportsbook business owners to own a pre-programmed gambling site with their preferred odds within a couple of days
- Thanks to its highly responsive design, one can easily tweak it to their taste and align with its target market.
- Enables users to completely integrate casino and sports betting content into their current websites
- Access to in-house odds software for extensive sports betting portfolio, including all the major sports one can think of
- Exclusive access to numerous eSports, including League of Legends, Valorant, Dota 2, etc.
- Enabling bookies to facilitate live betting for their online and offline customers
- Providing a flexible live betting system.
Apparently, the gambling industry has evolved since its inception years. For bookies to stay ahead and compete favorably against their competition, they have to evolve with the industry. Utilizing and integrating modern technologies such as sportsbook data feeds is one such way. With this software, sportsbook businesses can enhance their content and offer more value to punters, which will result in the growth of the business and the industry generally.