How sustainable is the future of sports and betting synergy?
Sports betting can’t exist without sports since the object of wagering is the sports events themselves. During the past few years, with the rapid development of the internet, digital technologies, and the evolution of the entire web ecosystem, sports betting has become an essential ingredient of sports. Of course, it’s not like sports can’t exist without betting – not even close to that – but we are witnessing an increasingly important role being assumed by the sports betting industry and by every single sportsbook and betting site in the world of sports.
Betting on sports is a very effective way of fan engagement. Being more invested while following your favourite sport, team, or players through online betting on the outcome is much more immersive than simply watching a game. This was always the case with sports betting, even when fans had to visit a physical sportsbook to back their predictions. Now, with the unique opportunities for access offered by the internet, more people can use betting as a means to pursue profits while supporting their favourites. More sports betting means more engagement with a game and a more significant commitment to the sport, which does not need clarification as to why it is essential for the sports ecosystem!
In the meantime, faster internet connections, digital advancements, and innovations on the part of gambling platforms and bookmakers (in their effort to capture a more significant share of a growing pie) lead to even greater engagement. Fans cannot only bet on pre-game markets but also on live games or even on micro-episodes of games, namely through micro-betting. These, in turn, explode the opportunities for more active participation while watching a sports game and transform spectators and audiences into even more invested fans.
The situation is a win-win situation for the betting ecosystem – at least for the two significant stakeholders involved: the sports organizations and the betting operators. Sports organizations enjoy greater fan engagement and get the chance to expand their fan bases or even rejuvenate their existing fan bases’ interests. Sports betting industry participants, such as 1XBet, enjoy more significant revenues and generally fertile grounds for doing business, which further fuels the growth of the sports organizations through increased sponsorship interest, etc.
So, as long as we look at the sports organizations and sports betting enterprises, the synergy is doing good. But let’s enter the consumer into the equation. There must be some balance to foster sustainability of the synergy between sports betting and sports because this synergy can postulate ethical dilemmas, especially as it might hint at problem gambling.
The more sports go hand in hand with sports betting, the more sports betting will become a popular pastime for casual fans. But this bears the risks of causing problems in fans’ behaviour, such as addiction, etc. In the end, if no measures are taken or proactive practices are made to preserve the integrity of the consumers, the whole partnering and synergy between sports and sports wagering will not be able to retain its functionality and effectiveness in the future.
So, what is needed is a balance between engaging fans and protecting bettors. If bettors are left unprotected, then it is not only they that will run the risks of losing, but the whole sports ecosystem as well. The ecosystem comprises sports organizations, sports betting operators, media companies, and so on, as well as sports fans and bettors.
Everyone involved, and every stakeholder in this industry needs to take proactive measures toward maintaining an equilibrium that will ensure optimal sports fan engagement and immersion on the one hand, while on the other hand, safeguarding as much as possible the fans against potential problems arising from sports gambling.
The opportunities for the sports ecosystem offered by sports betting are enormous, but they don’t come without costs. Suppose the synergy between spots and sports gambling is to have a sustainable future. In that case, this will only be achieved by considering the agent that links every member of the chain, and this is no other than the sports fans.
