The continuing growing market of betting – how betting has risen over the past 10 years
Technology has made it so that a lot of things are easier for consumers. Technology is important for our society to continue to grow. Technology is the future and has been for a while. When it comes to the betting market, technology has helped it grow to the vast market that it is today. The birth of online betting has made it easier than ever to gamble and bet on your favourite sports and teams. It has made the excitement of betting on sports way more available.
This article will seek to show how the betting market has grown and how technology has helped it grow.
Payment and faster options for the user
First of all, let’s look at the technology used by the betting market. First of all, the online betting market happens on online platforms. The online platforms are used by the consumer to make bets, watch games and see highlights. It has made betting a lot faster and so has the payment options for the betting companies.
The introduction of PayPal has made it so that payments – both to the betting company and from the betting company to the user – is a lot faster. It is actually faster than ever. In a matter of minutes, you can have your prize money in your account and in a matter of seconds, you can have more money on your online account.
New technology has made the betting companies grow to one of the biggest markets on the planet, and the article seeks to show just how big in the next chapter of the article. Read further down.
Fast growing market
The market of online betting has grown a lot the past 5 years and it will keep growing research shows. More and more people tend to use online betting as their primary way of gambling and it shows in the market growth. Sports betting is set to reach a new height in the year 2024, where it is set to hit 155 billion dollars. This is a huge number with the potential to be even higher. Research shows that the market grows with upwards to 10% each year and it will continue to grow this way in the future.
Problems in the society
Betting has a downside. We have all seen gangster movies where a character’s finger is cut off because he can’t make a gambling debt. It won’t be this severe in most cases but ludomania is a disease that might have some inflation with the growth of the betting market.
Here technology can really benefit as well, as you can have online meetings with other people in the same situation as you find yourself in. To talk with other people is in general, a good idea for you to cope with your situation, as you can get sympathy from people who are going through some of the same things as you are facing.