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The Fastest Growing Sports Betting Sector: What is It?


Sports betting is the fastest growing sector in the online betting and gambling industry
minting about more than 1.2 billion US dollar every year on just horse racing. In fact,
gambling and betting over sports like horse racing, football, cricket, basketball, rugby and
many more have become much simpler and more comfortable with the introduction of online
betting that can be accessed through our laptops and tablets and phones.

In fact, studies and researches have shown that on an average one in five kid can actually
recognize brands that now specialize in sports betting. Plus, there is the fact that two-thirds of
the children can identify at least one sports betting brand these days. You have new
competitors like Betway coming up who are revolutionizing how we take a look at sports
betting.

About the Gambling Industry Progress

The gambling industry has spent more than $253 million the previous year only for its
advertising and promotion in Australia. The figure has gone up from $89.7 million in 2011.
This in itself indicates the booming growth that the gambling industry, in general, has seen in
the past few years.

The global betting market is growing the fastest in the markets of the United States of
America.

So, what are the reasons for the exponential growth of the sports betting industry? The most
straightforward answer would probably be that most of the developed markets in the world
where sports betting is growing the fastest had the maximum amount of disposable income to
spend on leisure like gambling. Plus, the growing amount of internet connection the world
over also contributes to the interest in gambling the world over.

In the less developed countries like Ghana and other countries in the continent of Africa, the
betting industry is actually seen as a lucrative industry with the actual potential to help
contribute in the growth of the economy of the countries. Thus, the governments of these
countries actually actively promote the growth of gambling. That coupled with the fact that it
is also helping grow the interest in sports of the nation in general, is also the incentive for
these governments to make the betting legal in these countries.

Thus, it is only but a matter of time that the sports betting sector will boom even more than it
is right as of now. And not even the rules and regulations of many countries that are trying to
make betting illegal can genuinely make the size of the industry diminish. The reason for this
is, if not legal, there is always going to be an unlawful and underground betting ring going
on. Therefore, it is actually better for all the countries in the world to actually legalize betting
on sporting tournaments so that it can actually contribute to the growth of the economy.
Because unless it is made legal, taxes cannot be levied upon the money that you earn from
these bets and that actually will not help actually win the government a part from their
profits.

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