The World Betting Market In 2021-2022: From Online To Offline
2020 has become a watershed year for the world economy. The gambling industry and the betting business are no exception.
First, market representatives incurred significant losses due to COVID-19 restrictions and the cancellation of mass events. On the other hand, bookmakers have reached a whole new level, moving to an online format and receiving a huge influx of new customers.
The industry experts from the leading online betting companies, would share their opinion on what changes to expect in the online sports betting industry.
Further Rise Of The Online Betting In The World
2020 was a critical time for most offline bookmakers. Due to severe quarantine restrictions, massive sporting events were canceled and operators had to return bets already placed.
The updated regulations of the industry in different countries also led to serious financial changes. Among the most serious restrictions are:
Advertising activity. Operators were limited in their advertising time on TV and the Internet, and mailings with individual marketing offers were banned. Such a policy is supported by the authorities of most EU countries due to concerns about the problem of addiction.
Deposit limits. In Belgium, Spain, UK and several other countries during the pandemic restrictions on the amount of daily and monthly bets. Declared daily limit – an equivalent of 50 Euro. Operators may reduce the established limits of bets.
Game without credits. The restriction is stipulated by the legislative framework in the UK. Local operators and bookmakers with offshore licenses are required to check the sources of deposits and cancel bets made with credit funds.
Time on site. In addition to lowering the limits of daily bets, the EU countries are actively practicing the limitation of total time spent on casino-sites. Sweden was the first country to introduce such measures.
The Sports Industry In Russia
Despite the decline in revenues of the global betting segment, in the Russian Federation only in 2020 the market has increased by 20 percent. The positive trends are due to such factors, like:
The growth of audience confidence in bookmakers
The government of the country is interested in the development of local business. Only residents who have received the appropriate license can operate in the Russian market.
Alternative promotion channels
In Russia, as in most European countries, there are restrictions on advertising on television and radio. In connection with the tightening of promotion rules for gambling projects, operators switch to alternative advertising channels:
- working with bloggers;
- organization of special projects on non-standard network platforms;
- sponsorship of multiplayer events;
- promotion on streaming services, etc.
The Most Significant Trends For The World’s Betting Market In 2022
The main trend of recent years is the full-scale digitalization of the industry. Gambling Craft company experts predict that the digital sector will increase by 50 percent in the coming years. And not only the number of virtual bookmakers is growing, but also the average check of online players. Compared with February 2021, the deposit amount has increased by 3 percent.
Due to the new format of gambling the structure of the market itself is also changing: it becomes more and more online.