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Online Sports Betting Set to Make New Records In 2021

The year 2020 was expected to bring some great revenues to US states that legalized online sports betting. However, the coronavirus pandemic kept sports cancelled for the first half of the year and the market has only started to recover after the summer. In these testing times when casinos remained closed and only some obscure sports were available for wagering, the online betting sector continued to produce revenue for their operators and states.

In the second half of 2020, sports are back in action but audience are not allowed within stadiums. The situation may remain the same till at least the end of the year as authorities struggle to keep infection numbers low and wait for a vaccine.

Why does online sports betting work?

Online sports betting can survive through the pandemic. If sports continue to occur under strict precautionary guidelines, online sports betting operations can continue unhindered. This is not possible with land-based locations like casinos that have been struggling since reopening. Most casinos are operating under capacity and have to spend heavily to maintain protocols. Online betting doesn’t risk lives or increase expenses. It is good for users who are still paranoid about visiting a land-based location after the pandemic hit.

Revenue figures from New Jersey and other successful sports betting markets show a clear preference for online betting among users. The ease and convenience of betting on mobile devices helps gives users more freedom and allows them to engage more with a betting platform. They no longer need to take time out to go to a physical casino and play. You might want to take a look at betting sites outside UK.

Another important reason why online sports betting is popular is because it can provide better engagement experiences for fans. Franchise teams can directly share their content with users and expect better engagement as well. With online sports betting integrations, users can not only stay connected with their favorite teams but also bet on them with exemplary ease.

Online betting can generally provide better spreads to the users as operators have lower overheads to tackle. The user experience can be quickly customized and delivered. Additionally, it opens up a new world of betting by giving users access to global events. From the Super Bowl to Japanese Sumo Wrestling tournaments, users can now bet on any event they like without bothering about casino closure times.

Will the physical casinos be gone?

The advent of online betting opportunities is not the end for physical casinos. The land-based casino experience-which includes everything from table games to slots and from roulettes to sports betting is still popular and will continue to mint money for operators for a long time. The casino industry is expected to gain a firm footing as COVID-19 related restrictions start easing up and number of infections falls. However, this will take few months to come back to normal.

Meanwhile, online sports betting, online casinos and igaming industry is quickly gaining ground in the US. Given the number of states legalizing sports betting and the growing revenue for states already allowing this activity, it is likely that the growth potential of this sector is immense.

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