What the Future of the Betting Industry Looks Like After the COVID-19

The Corona Virus took the entire world for a spin. Many things are still being affected by covid-19 to this day, such as limited delivery of the iPhone 14 thanks to restrictions in China, and you might be surprised to hear that the future of betting has undergone some changes as a consequence of the repercussions which came along with the Corona Virus. In this article, we’ll be discussing what the future of the betting industry looks like after its clash with the Coronavirus.

Online Sportsbooks

Thanks to months and months of being stuck at home as a result of lockdown and quarantine, people had to adjust to living their day-to-day life whilst being restricted to their households. This called for working from home, attending classes through exhausting zoom calls, and most importantly, betting via the internet.

With land-based bookies being shut down and people being unable to leave their houses, or at least the vicinity of their house in the more generous cases, a shocking amount of bettors turned to place their bets on their devices through online sportsbooks. Thanks to this the online betting industry reached a peak and has not taken a break since.

Bettors were lucky to find that betting online is just as good, if not better, than betting at their local bookie. Players were able to benefit from competitive odds, generous bonuses, and added features offered by these betting sites, all they needed was a device of their choice and a stable internet connection. The joys of betting never did, and never will stop under any circumstances thanks to the great innovation of online betting sites.

Covid may have messed a lot of things up for us, but we can thank it for kick-starting the never-ending improvements of online services such as online bookies. As of 2021, the UK online gambling market size, measured by revenue, was at an extraordinary number of $16.41 billion pounds, and we can only expect it to continue to rise!

eSports

When mentioning the various benefits provided by betting sites in relation to the Corona Virus, we were unable to mention a variety of sports to bet on. This is only because sporting events took quite a painful hit during the peak of covid, with the majority of live events being completely canceled. Although, this is where eSports come in!

When you think of the Corona Virus, after a few chills, your mind automatically ventures to the amazing world of online services, and online is the key word here. With the cancellation of sporting events taking place in an attempt to help control the initial spread of the virus, sports bettors needed an online alternative. So, eSports gave people exactly what they wanted. The term ‘’eSports’’ refers to competitive online gaming. Of course, when you think of online gaming you may think of the more common games such as Call of Duty and League of Legends, and these games may not pique your interest.

Though, online means variety, because the possibilities are endless. eSports games can include any game genre you may think of, and there's a never-ending list of games that replicate real-life sports, even American football, which is nowadays deemed as the most dangerous American sport. When betting on eSports, the process is quite similar to betting on regular sports. Select an online bookie, pick a game, place your bets, sit back and enjoy the match!

The future of eSports hasn’t really died down since the days of Covids peak, either. The industry seems to be growing at tremendous rates. Today, live eSport tournament events sell out in just seconds, and with the industry consistently undergoing improvements, we can expect a promising future ahead of it.

Crypto Sports Betting

The Corona Virus left a deathly boring amount of free time on our hands, and as a result, many of us got new online hobbies, and one of the most common hobbies that sports bettors acquired was investing in cryptocurrencies.

Since kicking off your journey of investing in cryptocurrencies doesn’t necessarily require you to leave the house, many people tried their hand at it and committed to the hobby. So, think of a sports bettor with some extra funds in their hands. You already know what we’re getting to, don’t you? Say hello to crypto sports betting!

Placing bets using cryptocurrencies is a new phenomenon that has only grown in popularity since it was first introduced. Today, the number of sports bettors using cryptocurrencies when making their bets is exponentially increasing, along with a variety of sportsbooks undergoing changes in order to support crypto sports betting.

Thanks to the heaven-sent technology of blockchain, bettors can now place their bets in a much more secure and efficient manner. There is absolutely no risk of your data falling into the wrong hands, eliminating all possibilities of fraud or identity theft. On top of added security, betting using cryptocurrencies provides you with fast payments with little to no added fees, and most importantly, anonymity.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes