Resources place sports betting with a 30-40% market share of the total worldwide gambling market. A third of that, or 33% of the gambling population, comes from Asia.
This is mainly due to the massive population of the region. The legalization of sports betting across many countries to rake in state revenues from the disposable income of the people is also accountable for the growth of the industry.
In 2016, the total worth of the industry was around USD40 billion. In the next ten years, or by 2026, it is expected to grow to USD 100 billion. According to Statista, the annual worldwide gross gambling yield exceeds USD 400 billion. In Great Britain alone in 2020, the betting market generated up to USD 3.36 billion.
This massive industry is attractive not only to sportsbooks but to casual bettors who want to have a slice of the pie.
How big is the slice exactly?
Experts agree that bettors have a 55% win rate and that dreaming of a 60% return is an ambition and euphoric optimism that is not backed by science.
High odds become common sense when the outcome of the game is almost apparent. Bettors will tend to bet high; however, Gambling Sites like MrCasinova.com/th/ says, the chances of payout drop drastically with higher odds.
More seasoned players are not quick to jump the gun if they see the tides turn in their favor; instead, they cautiously place smaller and safer bets rather than go all out. In that way, they can win over just 52%-53% of their bets but not lose more than that, which is a reasonable winning rate.
Sinking your teeth into the pie of sports betting
Choose your sports segment, choose a trusted site
Betting is a massive industry. So how do you choose bookmakers that you can trust?
Look for bookmakers who are licensed. As mentioned, the legality afforded to this enterprise has provided regulatory measures to assure the public of the legitimacy of the business. Government agencies have designated their respective licensing agencies for this purpose.
With license comes regulation. Sportsbooks have their respective terms and conditions. This is critical information establishes expectations and educates the bettors on the scope and limitations of their bet.
Another crucial thing to look for is the alternative dispute resolution (ADR) mechanism. Sites should have a dispute mechanism, usually an independent mediator that handles complaints or financial claims.
Check if the site has the security features to ensure that your data is protected from third-party entities that might use or abuse your sensitive information. At least look for SSL encryption.
If you are new to the field, you can survey the market to compare and contrast sites and choose which suits your needs.
Pay attention to odd-changers
There are a lot of things to consider in betting. Once you have chosen a trusted site, you can pay close watch on their odds, but experts say you should also study the peripherals—meaning, other factors that come into play and affect the odds.
Media hype can play a pivotal role, especially in significant segments like baseball, football, and even esports. They blow the wind to a specific direction,Many extenuating circumstances can affect the game’s odds, like the quarterback getting injured or whatnot.
Bet according to your means
It’s a consensus among experts that never bet more than what you can afford to lose. Regardless of the game, Betting can be an easy win and can also lose you money just as quickly if you do not put your mind in a suitable space. While betting on the underdog seems a profitable venture, weigh the risks and how they measure up against potential turntables.
Life is a gamble, they say, but there is more to it than sheer luck. There is a lot of research, science, and statistics involved. If you are up to the challenge, then there’s no stopping you from beating the odds! And that’s the reason why there is so much hype in sports betting these days.