Sports betting has not always been a regulated and legal activity in some countries. In fact, while it has been around us for many decades now, it has started to be considered a legitimate pastime only in the past few years. Of course, this is not a widespread thing. Some countries have legalized sports betting way before others, but it’s safe to say that its growing recognition as a legal activity is a contemporary phenomenon.
The legalization of sports betting brought growth in the industry. Rather expectedly, once shops providing sportsbook services, sports betting sites -like all betting sites in Kenya– and online betting platforms got permission to operate in different countries, sports fans began to diffuse their enthusiasm and engagement to sports wagers. Added to that, all the possible illegal activity or informal betting that was taking place, became explicit and this contributed also to the growth of the industry.
The growth of sports betting, however, started to raise concerns and people began to question whether it would harm or benefit sports. In fact, there is a large part of the population that hasn’t yet been convinced of the good things that sports betting may bring to the sports themselves. Of course, nobody can deny that there are certain risks associated with sports betting – just as it happens with any form of gambling- but this doesn’t mean that no good things are coming out of it, for the sports per se. Let’s see five ways in which betting does good for sports.
#1 Brings more revenues to the sports
Sports betting increases demand for sports events, games, competitions, and tournaments. The more popular a sport is in terms of betting, the more the demand for the sport, and the more the demand, the more the revenue streams for the sport.
We see growth in ticket sales, broadcasting rights (since media companies are paying more to get the rights for events that are highly popular), billion-dollar sponsorships, and also increased revenues from merchandise sales. All these eventually increase the money that the sports teams and sports organizations generate and trigger financial growth.
#2 Makes some non-marquee sports more accessible to audiences
Some sports are especially popular among bettors in a country, but they remain disproportionately less popular among sports fans in the same country. Tennis betting, for example, is among the most preferred markets for punters in countries, where the sport does not enjoy widespread popularity. This on its own, presents an excellent opportunity for a sport to gain access to audiences that are not typical fans and thus, make it more global.
#3 Increases fan engagement
Betting on a sports event is the perfect way to become more involved and engaged. If watching a football game, for example, is accompanied by having financial stakes on how this game is going to play out, then the level of engagement skyrockets. Overall, betting with a sportsbook like Megapari Kenya brings greater excitement and anticipation for the punters, turning spectators into more active fans.
Engagement is most likely the number one priority in sports, considering it gears up fan loyalty and commitment, which then fuels greater demand for sports events, sports content, etc.
#4 Fights illegal gambling
If sports betting is legitimate, then it reduces and generally fights illegal gambling, which is one very critical problem encountered in markets where wagering on sports is not permitted. Legalization implies regulation and when an industry is regulated it is far easier to control.
Illegal gambling is eventually diminished when there is a healthy competitive environment with multiple betting sites, platforms and bookmakers providing a more controlled context and the opportunity for wagers. This way, bettors can more effectively do what they love to do.
#5 Makes sports more fun
Let’s face it. Betting makes an entire game or match more fun for those who watch it. It is more exciting, intriguing, and at the same time challenging to watch a game while at the same time you are waiting to see whether you have won a bet on that game. It is much more interesting to have stakes in a match and in the end get to make profits from your predictions!
