Online gambling has been experiencing a great expansion over the past years, and it is one of the fastest-growing industries. Sports betting, as its big contributor, has also evolved a lot and established a great reputation among sports lovers. Online gambling and the sports industry are more connected than ever, mostly through sports betting.
That’s not surprising since sports betting has been around for hundreds of years, but thanks to modern technologies, it has become more accessible than ever. Consequently, the relationship between gambling and sports was getting stronger over time, and today, we can witness a multi-level partnership between these two industries.
In this article, we have explored the connection between online gambling and the sports industry.
How are the Online Gambling and Sports Connected?
We have already mentioned that the connection between gambling and sports is not new. In medieval times, betting on various sports like horse racing, archery, and others was very popular. Actually, betting dates to ancient Rome, when people used to bet on chariot races, animal fights, or gladiator battles. Of course, only the wealthy class could enjoy wagering at that time, and betting has dramatically evolved since then.
The past couple of decades were very fruitful for the gambling industry. Technological improvements have sky-rocketed this sector, and this thriving industry is continuously rising. Many countries have regulated their markets since they recognized opportunities to increase their revenues through taxes on betting activities.
Nowadays, people can wager online from the comfort of their homes or on the go. Bookmakers cover numerous sports, and the biggest sportsbooks have an enormously extensive offer for bettors. Since it is legal to gamble online in the Philippines, you can consider these choices when it comes to selecting the best online gambling sites.
Major sports events are very popular among bettors, and online gambling opportunities are all around us. Sportsbooks have also positively impacted the increased popularity of several sports that hadn’t been so famous just a couple of decades ago. Thanks to their presence on online betting sites, they gained more viewership when people started exploring new opportunities for making profits and placing their wagers on these sports.
Therefore, those sports got a chance to explore new markets and increase their commercial potential, which should help them attract more sponsors and investors.
Partnerships Between Online Gambling and Sports Companies
The correlation between online gambling and the sports industry is not established only through bookmakers’ coverage of sporting events. Nowadays, online gambling has a huge customer base, and in the case of sports betting, they are naturally sports fans. And wagering involves plenty of money. Sportsbooks and sports entities have recognized mutual partnership opportunities and started exploring them.
It is not strange that online gambling companies sponsor big football clubs and competitions today. For example, ten Premier League clubs had gambling companies in their sponsors’ pool in the 2019/20 season. The percentage of clubs with online gambling sponsors in the Championship, the second tier of the English football pyramid, was even higher. They are not related only to sports betting but also to online casinos, lotteries, and others.
Online gambling companies also sponsor sports events, and there are two reasons for that. The most obvious one is that they offer wagering opportunities in these competitions. Usually, they launch special promotions, better odds, or unique markets for their customers.
Secondly, sports lovers like to place their wagers on different games. Therefore, the online gambling companies’ presence will attract more punters to place their bets more frequently. On the other hand, these partnerships don’t benefit just online gambling companies. For example, major American sports, like NFL, have generated massive amounts of money through advertising legal sportsbooks.
We can see that trend in the most popular European football leagues, and the logos of the most famous online gambling companies are represented almost everywhere.
State of Sports Betting Market
The future of online gambling and sports betting as its big part is very bright. The Philippines are a well-known gambling hub, and players can legally place their wagers through offshore gambling sites. Online gambling is more accessible than ever, and several reasons have contributed to its expansion. Firstly, technological advancements made online gambling very convenient. Players can now enjoy their favorite games or place their wagers anytime and anywhere.
Network infrastructure has dramatically improved, while smartphone penetration is higher than ever. Moreover, the Philippines have a young population, and the market has more expansion opportunities. Therefore, the online gambling market should continue flourishing and generating more revenue.
Conclusion
Online gambling and the sports industry will continue strengthening their relationship. Markets are continuously growing, and the connection between these two industries is stronger than ever. They share the same audience, and working as a team should benefit more to both sectors rather than doing it solo.
