Gambling and sports betting are two closely linked practices, that have co-existed since the earliest human
civilizations. Throughout history, people have placed bets athletes or thrown dice in games, hoping to make some extra cash. While both practices have
undergone changes throughout their existence, the biggest change came in the 20th century, when computer science made it possible to gamble and bet online.
iGaming
For those that don’t know, iGaming is sort of an all-encompassing term
referring to any form of online wagering. Naturally, this means sports betting and online casinos. The practice began in the 90s. The internet became widely
embraced, and the first online sportsbooks and poker rooms hit the scenes.
Of course, since then, gambling and betting online has come a long way. For
one thing, it is a lot more secure, thanks to developing technology. Developments in encryption have ensured that online gambling sites remain safe for
everyone.
Another improvement is the gaming library, as well as the variety of sports that these websites can cover. On top of that, fans are now
capable of making huge and small deposits at online casinos and sportsbooks. The variety
has led to a huge increase in ownership.
However, recently, many are worried that casinos are losing their popularity in favor of sports betting. So,
let us examine whether this is the case or not.
Sports Betting vs. iGaming
At first
glance, it certainly does seem like sports betting is taking over. In quite a few American states, we have seen a recent trend away from online casinos and
towards online sports betting. This trend has resulted in online casinos yielding less monthly income than previously expected.
And certainly, sports
are far more popular than casinos. Every year, millions of tourists go in and out of Las Vegas. However, the World Cup, for example, was seen by billions of
people. But there’s the rub. The World Cup comes once every 4 years. Which leads us into our point.
Sports are limited by time and place. There are
sport seasons that dictate when you can place a wager on a sport. Of course, different sports have different seasons. However, not everyone is interested in
every sport. Most people just stick to one, or maybe two.
Now, in the latter half of 2022, online casinos did suffer because of sports books. However,
we must remember there were extenuating circumstances. Namely, the World Cup. Close to
5 billion
people were watching the World Cup. Among them, many were bettors and gamblers. Meaning, the World Cup likely poached some players away from the
casinos.
However, as we said, this event only comes on once every four years, and it is the biggest sporting event in the world. So, no wonder most
people were distracted by it.
Final Thoughts
In terms of popularity sports betting and
online gambling are not much different. Sports betting could very well take over, however, online casinos are not going anywhere. They are a fun, convenient,
and excellent way for gamblers to get their fill of gaming, and will likely remain a staple of the iGaming industry. |
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