Sports betting is a popular niche in the iGaming world. Thanks to new technology, betting websites are getting better, making it easier and more beneficial for players to place their bets. This progress has led to more people choosing to bet on sports online. Experts at BetB2B have noticed that in the last year, there’s been a good increase in people using online sites for betting.

Analysts claim that the betting industry will expand and by 2027 the capitalization will be $153.5 billion. This will primarily be a consequence of audience growth. This trend is driven by improvements in technology that make sports betting more accessible. Not so long ago, bettors could predict results only in special betshops, but now they do not need to leave their comfort zone.

Bookmakers monitor market demands and try to succeed in their development, constantly monitoring new products and supporting current trends. BetB2B specialists claim that if all this is not done, the iGaming website will be doomed to failure since the company will be supplanted by more successful competitors.

Player portrait

Today’s players are very selective, and it’s hard to identify one specific feature that defines them all. This variety is the first important detail to remember when creating a picture of the average bettor. As a result, iGaming companies use a wide range of methods to reach different groups of potential players. The competition is fierce. This isn’t surprising, considering there are many online competitors trying to attract players with attractive deals, bonuses, and other incentives.

BetB2B experts note that if we consider players from the point of view of their preferences, it is worth noting that sports bets are increasingly being made by people aged 45-55 years. Although the older generation shows interest in this area, in reality, they are no longer so actively pursuing it. The reason for this is often the financial situation, which does not allow the cost of betting to be included in the budget.

By US player statistics, bettors can be divided by ethnic group:

• Whites – 18%;

• Black – 27%;

• Hispanics – 24%;

• Asians – 18%.

BetB2B specialists also conclude that gender dynamics in matters of sports betting are now highlighted. So, if previously it was believed that the majority of casino and bookmaker players were men, now women have become increasingly interested in offers from bookmakers. This is due to the influence of social changes and the availability of entertainment, which has now moved online.

BetB2B: Statistics and forecasts of the European market in numbers

The European Union’s iGaming industry is becoming large and fiercely competitive. A report from the European Gaming and Betting Association states that the iGaming industry in Europe “reached €108.5 billion in gross gaming revenue, up 8% from pre-pandemic levels in 2019 and 23% up from 2021”.

Regarding the percentage share of national betting and gambling markets, the European Gaming and Betting Association made some intriguing findings:

• iGaming’s share in different European markets varies greatly. The share of iGaming in Sweden was 80%, in Latvia 75%, in Lithuania 67%, in Romania 65%, in the UK 65%.

• It is worth noting that even in countries such as France, Germany, Italy, and Spain, which have much larger betting and gambling markets in terms of revenue, the percentage of iGaming is still very low.

In 2022-23, the share of online bets made from mobile devices was 53%, and from desktop computers – 47%. In Europe, the upward trend in the share of online activity on mobile devices (phones and tablets) continued.

Another trend noted by BetB2B that is expected to continue in Europe is the growing use of mobile devices for iGaming.

Preferences of the target audience of players

If we talk about trends in betting, then Esports currently takes pride of place.

Esports was once considered a real anomaly in the iGaming niche and the world of sports in general, but recent years have seen a steady rise in betting on games like Dota 2 and Counter-Strike. The disciplines host Eports tournaments, provide prizes to the best teams, and pay players astronomical sums for participating in competitions. As this trend develops, more and more new betting websites will be attracted.

Over the past two years, Esports has seen a surge in mergers and acquisitions (M&A) activity. Independent event organizers ESL Gaming and FACEIT have been purchased by Savvy Gaming Group, which is owned by the Saudi Arabian government. ESL FACEIT Group eventually acquired Vindex, an infrastructure and technology provider. Despite initial resistance, Microsoft is moving forward with its acquisition of Activision Blizzard.

Investors may have seen the FaZe Clan story as a wake-up call, but with a total budget of more than $70 billion, these events indicate that Esports is entering a new phase of growth. When markets begin to consolidate, it is a positive sign for investors. They will come back for new chances.

Esport market. The main factor, according to BetB2B analysts, is increased competition between video streaming services. Profits will grow, and Esports’ market value will reach $5.5 billion by 2029, almost quadrupling. This competition will determine the Esports market share of the betting industry over the next decade.

BetB2B: How to choose a platform to open a betting site in 2024?

As the betting industry tends to expand significantly, aspiring bookmaker owners must work hard on their projects to bring them to a decent level. BetB2B experts note that launching a betting project is serious and painstaking work that requires considerable investment.

Since sports betting is in high demand, developing a business in this direction is quite profitable. At the same time, every businessman faces many difficulties on the way to the desired profit, which in any case will have to be faced.

When creating a custom betting project , you need to take into account many important nuances.

Choice of jurisdiction

Here company will have to take into account a number of the following aspects:

• The reputation of the licensing country, since licenses issued in different jurisdictions have restrictions;

• Licensing requirements;

• Costs and duration for obtaining a license;

• Amount of taxes and other deductions.

The license can be national or international. According to BetB2B analysts, the choice should be made in favor of the jurisdiction that will be more profitable for the future activities of the office.

IGaming industry trends

BetB2B experts say that the betting industry is changeable, so all transformation processes in the market need to be monitored so as not to fade into the shadows against the backdrop of more successful players. This is especially true for young and ambitious companies that may miss important details. New websites are constantly appearing on the market, capable of displacing even the most experienced representatives of the iGaming business. In addition, we should not forget about the already existing giants, who have been at the peak of popularity for a long time.

A modern bookmaker must offer its players:

• A large selection of products – the more of them there are on the betting site, the more players you can attract and retain the attention of existing bettors. In addition, the variety of betting options will make you interested in different age categories.

• Individual approach – every client loves to receive personalized offers. In addition, they must satisfy their current needs as much as possible.

• Security – Sports betting always involves financial transactions. Clients want to be sure that their funds are protected. The bookmaker must provide players with all security measures and prevent the leakage of information and personal data of players.

• Convenience – clear and simple functionality will always attract more attention because players come to a betting site to have a great time, and not to figure out how to use the site’s tools.

When choosing a platform, BetB2B analysts recommend that iGaming companies focus on the above points, since they have a key role in building a business in sports betting.

BetB2B: features and benefits

The BetB2B platform offers a full range of services that will help you open your own betting business in 2024. These are modern solutions that enable young and ambitious businessmen to develop rapidly.

Turnkey Solution is the most popular and comfortable way to launch your iGaming business. This is a ready-to-use solution that will allow you to launch an iGaming website from scratch. If the company already has its website, you can use the Sportsbook API – this solution will allow you to add bets on more than 182 sports to your betting site. There is also a wide range of betting options available on Esports events with flexible options. This offer is beneficial since bookmakers often have to spend large resources in the process of development, which is often unjustified.

Additionally, the company provides the following tools within the Turnkey Solution:

• CRM system that analyzes player activity. Player preferences will be displayed here, as well as bonuses provided for participation in promotions or other achievements.

• CMS – content management for website management, interface settings, and web resource content management.

• Affiliate program is a tool for setting up and visibility of the network, viewing statistics, and providing reporting.

• Agent scheme is a system with which commissions are set.

• Back-office is a tool for tracking cash flows depending on player activity.

BetB2B clients receive:

• A set of solutions consisting of a wide range of quality content, which includes betting on sports, casinos and Esports;

• A solution for integrating betting on a large number of sports disciplines. This makes it easier for players to access the content they need and allows them to place bets in real-time.

• Tools for reliable and convenient betshop management.

BetB2B provides a huge range of services that will help a young company enter the market quickly and at optimal costs. In this case, it is the choice of proven and reliable software suppliers that minimizes the risk of losses and further successful development in business.