At the end of 2018, the consulting company Zion Market Research conducted a study determining that the global sports betting market would amount to $155.5 billion in 2024. In 2017, the market volume was $104.3 billion, so the average annual growth rate of the industry can be at least 8.8%.
Analysts attribute the projected growth to the development of information technologies, noting that strict governmental regulation of the betting industry may slow down the growth of the global betting market.
Researchers at Zion Bookmakers Market Research also found that sports betting now covers more than 70% of the global gambling industry. The biggest money turnover is in football betting, while baseball comes second in the list.
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In 2004, some websites realized the online gambling boom was at its peak.
While most of the websites were still handing out generous bonuses and overstating odds to attract new players, several platforms changed their strategy fundamentally. They started working with the professional bettors who were once banned and restricted. The very idea seemed risky, but if the odds were set correctly, the bookmaker could get excellent long-term profit by serving rich and competent bettors.
TheGreek.com, one of those pioneers, constantly repeated that “the main thing is the game, not the payouts.”
Professional bettors are always waiting for the opening of the lines, so such websites began publishing odds a day earlier than in Las Vegas.
Later, the slogan “Where the lines are born” was summed up. Pinnacle Sports quickly realized that targeting professionals would bring their business to the next level and offered hot odds from -104 for NFL to -105 for other sports. In addition, the company offered unprecedented limits of up to $100,000 as well as quick payments.
These new platforms for betting professionals continued to use tricks such as line shifting to maximize profits. Their main goal is to make sure the most competent players are not interested in bets. The bottom line is to shift the line in the course of making bets until it becomes “sharp”. After that, fluctuations are insignificant and not one of the parties has a positive EV.