The COVID-19 pandemic has played a big role in driving innovation across multiple sectors, and the sports betting industry is one of them. Faced with an unprecedented scenario, where live sports went off the table for months all over the world, the industry has been able to cope remarkably well, and has even thrived in this situation. The US sports betting industry saw higher betting volumes and more revenue than ever before, which is astonishing given the situation last year. One of the primary factors driving this was the availability of mobile betting – retail betting was understandably difficult during a pandemic, and so mobile and online betting were the biggest factors driving the increasing popularity of sports betting last year. It can also be said that sports betting apps are the future, with the majority of sports betting taking place on phones rather than computers.
One of the best examples of this can be seen in the case of New Jersey, which became the number one state in the USA last year based on total betting volume. Over 80% of all betting accounts in New Jersey are mobile betting accounts, which allowed it to get ahead of Nevada, where restrictions are much stricter. Of course, this is specific to the USA, but there are general advantages that mobile betting offers that has made it extremely popular all over the world.
The biggest of these is the convenience that mobile betting offers. People are usually around their mobile phones all day, and so being able to place bets on their favourite sports events and teams with just a few taps of their phone screens is extremely convenient. It is a lot easier to do this than to drive to a retail location to place a wager, or even to open up a laptop or desktop computer and navigate to a betting provider’s website before placing a bet. Mobile betting apps make it extremely simple to place this kind of bets, and it is no surprise that mobile betting has become so popular as a result.
The increasing availability of in-play bets is another reason why mobile betting is so popular. Punters are able to place bets on certain match events while matches are taking place, with odds being updated in real-time, and this can only be possible through a mobile device. Additionally, fantasy sports providers such as FanDuel and DraftKings have now made the move into full-fledged sports betting, which has also increased mobile adoption, as their users were already comfortable with using their phones to play fantasy sports games, from where placing bets online is quite an easy step to take. These platforms have moved ahead of traditional gambling companies in terms of betting volumes, and this trend is set to continue with more and more states legalizing sports betting, and specifically online sports betting, in the months to come.
The unique conditions of the market in 2020, as well as growing innovation by states and betting operators, has put in place the conditions that will ensure that mobile betting is the future of the sports betting industry.
