Popularity of Sports Betting in Online Casinos SoarsThu, 21 Jan 2010 08:04
There are many reasons why land-based sports betting in various brick-and-mortar casinos are experiencing a steep decline. For one, the present economic downturn has lead to a reduction in the overall amount of gambling dollars. Secondly, more and more players have found the NFL to be more predictable and, as a result, beating the sports books in gambling has also become less surprising. However, the one issue which may affect the dwindling performance of land-based casinos for a longer span of time is the increasing preference for online casinos in sports betting. Issues faced by land-based casinos and gambling sites in Las Vegas It’s no secret how online gambling sites have become well-liked in recent years. In fact casinos in Vegas are finding it highly difficult competing with web-based sports books. Internet gambling sites are able to offer more types of bets to gambling aficionados, catering to the diverse tastes of different customers. Furthermore, the popularity of land-based casinos is normally gauged by the number of actual players that flock to the venues. In contrast, Internet gambling sites attract visitors and players on a global scale. And with an online environment, Internet casinos need not bother with huge venue or overhead expenses. These huge savings also lead these web-based casinos to introduce specialty bets not found in many brick-and-mortar gambling sites. The huge difference in this NFL season has gravely affected the performance of sports books, due to the presence of poorly performing teams, which have been unable to cover spreads which otherwise had been unreasonable in previous years. Nonetheless, such patterns are known not to last for a very long time and just recently, bookies have reported an increase their finances during the previous weeks. Advantages of online sports betting over land-based betting This does not solve the problem facing many land-based casinos and sports books however. More and more people have recognized the convenience in placing bets in online gambling sites rather than traveling all the way to Vegas or asking someone they know to lay the bets for them. There are many benefits that an online setting provides to avid bettors, making Internet-based gambling a highly coveted choice. Online betting allows players to adjust their bets anytime they need to, even seconds apart, so much so that players are shifting from the land-based environment to the virtual world. With the growing interest of the betting public on online play, Internet-based sports books are able to acquire bigger pools. This essentially means more secure profits, with only 5% additions to bets which are lost, compared to 10% which is the standard of most Las Vegas casinos. Proposition bets moreover are experiencing better performances online, although in many Las Vegas casinos proposition bets are performing poorly. Casinos in Las Vegas have used sports betting as a means to draw in more players in gambling arenas. In the same way, online gambling sites take advantage of low overhead costs in offering widely diverse bets for online bettors. This leads to more speculation on the expected popularity of slots and blackjack games online as well.