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The Global Business of Online Sports Betting: A Market Assessment and Outlook
IGamingBusiness, Jan 2011, Pages: 525
Sports betting has remained a popular pastime of sports fans everywhere, even despite the prolonged recent economic downturn. Not only are more people able to wager on sports through the internet than ever before, but the amount of information available freely online increases the chances of making bets strategically in a way that has never been possible previously. The internet teems with sports information services, sports betting guides, score lines, and fixture lists that are in the public domain. Furthermore, blogs, chats and forums have proliferated that are devoted to sports, offering sports betting predictions and tips and even odds comparison tools. It means that all the information necessary for well-informed betting decisions is at the reach of players' hands.
It is no surprise therefore that betting on sporting events appeals greatly to consumers and is therefore a product that is in high demand. With experienced and knowledgeable online gambling operators constructing suitable markets, responding to sports-based information and consumer investments, this can prove to be a profitable product, albeit within tight margins.
‘Online Sports Betting: A Market Assessment and Outlook' reveals that both personalisation and localisation of services are now high on the agenda of many gaming operators. Understanding the demographics and motivations of sports bettors can greatly enhance the effectiveness of product development strategies and customer retention initiatives. Furthermore, brands from other media or industries are increasingly being leveraged to appeal to these types of customers effectively.
In terms of new technology, the ‘anytime, anyplace, anywhere' convenient culture of mobile phones, combined with their status as a trusted device makes them ideally placed for offering betting services to customers. Betting companies are indeed getting in on the act by increasingly offering mobile websites and smartphone applications.
In essence, each online sportsbook operator is looking to participate in a sector becoming more socially acceptable and entertainment-based, benefiting from a liberalised regulatory structure in some markets, and enjoying growth across many key demographics including those that have been hard to reach through other types of gaming such as women. Add to that the growth in social media, smartphone apps and microtransactions and times that by the growing number of people globally with broadband connections and wireless access, the future certainly looks rosy for online sportsbooks.
‘Online Sports Betting: A Market Assessment and Outlook' examines the main issues surrounding the growing online sportsbook industry including betting market overviews by region; areas of opportunity; factors affecting growth in the industry; the mobile revolution and how it is affecting sports betting offerings; marketing strategies of online sportsbooks; regulatory issues and demographics of players.
It provides case studies of the major online sportsbook operators and suppliers and analyses them to determine their business models and revenue streams as well as who the winners and losers will be.
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