Published on January 17th, 2020
The gambling industry is one which has undergone many changes over the years, from the early days of betting on sports to the multi-billion pound industry that it is today.
That trend shows no sign of slowing down either, with the likes of football, horse racing and other sports leading the way for betting.
In fact, according to the Gambling Commission, the total yield from gambling exceeds £13 billion now, with betting sites accounting for over a third of that figure.
There are many reasons for the rise in gambling in recent years – here are a few of the contributing factors that have led to betting becoming such a popular and widespread activity.
1. Better Marketing
The rise in technological advancements have made marketing much easier and provided businesses with more innovative ways to reach their customers.
For gambling businesses, this form of marketing has been revolutionary in promoting betting services and allowed brands to boost their operations and expand their offerings with ease.
For example, social media now forms a large part of any business’ marketing strategy and enables brands to promote themselves and communicate with customers in a more direct fashion, offering free bets and tips of the day.
Content marketing is also a popular strategy that is less intrusive but provides customers with information.
2. Easier Payment Options
The change in how we make payments has meant that gambling has evolved too. While cash still has a place in society, the rise in online banking, cryptocurrencies and digital wallets has fuelled the rise in people who gamble.
This is largely because it’s made betting more accessible – people can now gamble from anywhere in the world, more safely than ever before because of secure payments.
3. The Move To Mobile
Mobile betting has completely changed the landscape of gambling and has made it more accessible than ever before, which has led to a rise in the number of people who place their bets.
You’re no longer limited to going in to a bookmakers or sitting at a desktop computer – you can now bet on the latest horse race or sports tournament from anywhere on the go.
Many gambling operators have optimised their sites for mobile use and a large number of companies have developer apps, whether it is for sportsbooks or online casino games.
This has also meant that eSports and virtual sports have also increased for a number of sports. Punters are now just moments away from a bet at any time, which has spelled good news for gambling businesses.
4. More Female Bettors
The Gambling Commission has stated that men are more likely to take part in gambling than women, but the developments in technology have seen that change in recent years.
Studies have shown that women prefer to gamble in private while for men, it is a social activity. So, with mobile gambling and apps on the rise, it’s understandable that more women are getting involved which has increased revenue for betting firms.
As the technology evolves further, it’s to be expected that women will become more prominent participants.