Published on June 15th, 2021 | by Sumit Bhowal0
Why online betting became a dominant force
The earliest 6-sided dice dates back to around 3000 BC, though, gambling is thought to have started back in the Paleolithic period – somewhat pre-written history. What we do know is that gambling houses were common in China during the first millennium BC.
So, gambling is certainly not something new. Whilst they bet on animal fighting, we are betting on humans fighting, like UFC or boxing. This might suggest we haven’t progressed much, but the way we think about betting has.
Before the internet, gambling was more about gut instinct. Information was scarce, and so at best, people would rely on insider tips or sentiment. Whilst we certainly still bet on emotion and sentiment, global sites such as 22bet bonus make it easy to dig into the maths behind an event. Here are some of the reasons driving this trend towards online gaming and away from physical stores.
When betting online, you’re not only inundated with different types of bets, but you can easily view statistics that help inform your decision. Information travels fast online, and people share it, so it’s no wonder we’re all a lot more educated on our decisions before making them.
We can view historical data in an instant, and compare it more easily. Furthermore, we can view odds tracking websites to see if a bookie is offering good value, or if the value has increased/decreased over time.
For many, there’s no better way to wager than when you’re present at the event. This is arguably the sole reason behind most people’s trips to horse and dog racing, so they can wager on each race as they see it.
The digitisation of gambling though made this entirely possible for any event. Whether you’re at the event or abroad in a hotel room, you can likely log in to a betting site and place a bet whilst watching.
Convenience is a massive factor in what drove the growth of online gambling sites, as many people find a trip to the bookies as being inconvenient. This opened up the door globally too, though we should note that rules and laws vary a lot from country to country. However, given that many countries can access the same betting platform, this was a huge reason for the rise in demand for betting – particularly for those that do not live near betting shops.
Another thing that online gambling revolutionised was the sheer amount of bets you can make. If you’re at a horse racing event, you’re only betting on those horses in today’s race. However, online betting allows punters to wager any professional horse race on any day, around the world.
This brought on the rise of novel wagering. For example, whether or not Donald Trump would say certain words during a certain speech, or who would win this year’s reality TV show competition. There’s no end of markets open, and with broader time frames.
The only downside is that whilst there are far more markets online, truly novel bets are often made inside a physical bookie. For example, in 2000, Harry Wilson’s grandad walked into a betting shop and asked what odds he would get if his 18-month old grandson played for Wales before the age of 20. The odds were 2500 to 1, so the £50 bet won Harry’s grandad £125,000 13 years after the bet was made.
Of course, it’s not just sport that people like betting on, it’s casino games. Well, not only do online casinos often offer both sports and casino betting in the same place, they’re usually far more innovative when it comes to what type of games you can bet on.
It’s far easier to develop a betting game online than it is in real life because you’re faced with infinite virtual possibilities, graphics, storylines, and gamification. Online casinos often have hundreds and hundreds of games to choose from, which inevitably means the needs of customers are more accurately being met – there’s something for everyone, and space to have plenty of games.
If we take slot games, for example, it was once a simple game of three of the same fruits lining up. Today, there is such a different dynamic with a unique theme, characters, and often even storylines. Then there is a gamification element, which means skill is being relied upon, not just luck alone.
In general, online casinos are being preferred to more physical forms of betting. Online platforms offer a lot more opportunity to customers, particularly those living in less developed countries. This sharing of resources online can benefit anyone (when legal) in places with very few betting stores or casinos. Finally, we are expecting online casinos to continue growing in force as they branch out into other niches, such as VR and eSports, which will attract a wider pool of customers.