Why Online Betting Is Such Big Business
Online betting has only been around for a relatively short time in the bigger frame of things, although has grown exponentially during its lifespan. With the advent of the internet and digital games, many software developers and casino game owners realised that there is a serious niche in the online world for online casino games and sports betting. From its rather humble begging to now being one of the biggest industries in the world, online betting is, without a doubt, big business.
Increased Tax Revenues
In many parts of the world, online betting is legal and in New Zealand it is currently legal to use overseas gambling and betting sites. These sites are mostly offshore which means that they are not liable for New Zealand tax. These offshore betting sites allow players and punters from New Zealand to place bets as well as play casino games, but do not have to give any money back to the government, which means that owning and operating them is a very big business.
Safety and Security
Online betting is attracting more and more punters due to the fact that it is, in comparison, safer and more secure than traditional betting methods. For year’s bookies and brick and mortar casinos have had shady connotations, always seeming to be behind major upsets in various sports and racing. Online betting sites offer clean betting without any shadiness, also boasting some of the best internet security in the world. Players and punters who make use of these sites know that their details are safe and secure and thus tend to flock to them rather than trusting the local bookie down the road. This has a lot to do with their worldwide presence, which means that online betting sites are accountable for their actions.
Larger Member Pool
Online betting is much more accessible than more traditional betting methods. In times past a punter from New Zealand had to actually get into their car and drive down to the local TAB or track in order to place a bet. They could also make use of private bookies, but as noted these tended to be a bit shady sometimes. These days placing a bet online can be done from your own home, which has hugely increases the membership numbers of the different online betting sites. More and more people are joining each day and placing bets, which in turn lead to the sites becoming more and more lucrative.
Bigger Betting Markets
With online betting, a punter can bet on pretty much everything. This coupled with the fact that one can place a bet from pretty much anywhere these days’ means that online betting is attracting crowds of people who would not normally place bets.
These days one can bet on almost anything, and many people do. For example, one prominent betting agency had a pool set up so that people can place a bet on the end of the world. Obviously, this will never get paid out; as if the world did end so would the company.
That being said, even if punters bet only a few dollars on a silly thing such as the apocalypse, the online betting company will draw in loads of money. This goes hand in hand with being able to bet on other silly things that may never pay out, but all help towards why online betting is such big business.