With high-speed broadband and fast processing speeds, live streaming services are massively popular. They enable sports lovers to see matches as they happen. Streaming services are now beginning to add betting features as a way to increase engagement and start another revenue stream.
Streaming services moving towards sports betting
Sports fans have been unofficially making bets with family or friends for ages, and streaming services recognized betting would make their products even more engaging. Most companies that own a live sports service are now moving towards a greater presence in online sports betting. Disney, FuboTV, Sling and DAZN have already shown interest in the industry.
The growth of sports betting
Sports betting is growing in various states in the U.S. since the Supreme Court threw out the federal law that barred it. Now, thousands of sports fans can place bets in both land-based and online casinos. The projection is that the legalization of betting will continue to grow aggressively over the next couple of years.
Parx Casino, a traditional casino in Pennsylvania, has evolved rapidly since it launched its first online casino for real money in 2019. Currently, the casino conglomerate offers sports betting in four US states as a safe, fun, and immersive experience for fans to enjoy alongside the sports they love, like basketball and baseball.
A change in attitudes about betting
An interior designer looking to decorate a house will keep up with the latest trends and changes in the industry. In the same way, sports streaming services are tapping into shifts in public opinion on the subject of gambling and staying up to date with the latest ways to engage their audiences.
The public view about betting has changed in recent years, moving towards a greater presence in online sports betting. They are following consumer desire, with ESPN providing a perfect platform for this. Businesses wouldn’t be so keen on pursuing sports betting if they believed it would destroy their squeaky, clean image.
Disney is far from the only company to explore betting on sports, and some other big companies are also talking publicly about the possibilities. They see that betting could strengthen their sports arms and could particularly appeal to younger viewers.
Betting promotes more engagement
The best sports documentaries about U.S. sports and athletes can bring context in a way that the everyday narrative of sports may lack. Film-makers have to take a step back and show more of the how and why of a story. Watching sports documentaries and sports betting are two of the most engaging ways for fans to satisfy an interest in sports other than playing the game.
Sports betting allows you to bet on all your favorite sports, including football, basketball, baseball, soccer, golf, and hockey. When you bet during a live sporting event and watch the odds change as the match progresses, it can be an exhilarating experience. Online sportsbooks cover sporting events from all over the globe, and you can bet live whether it’s in the morning, afternoon or evening. Live streaming events can fill year-round and around-the-clock timeslots.
Betting can work in various ways
Online betting can work in various ways. Players can download sports betting apps from the Apple App Store or Google Play and play via desktop browsers. With an app on a mobile phone, it is possible to place bets even when out and about.
Certain streaming companies may have their own proprietary sportsbook app integration that syncs with what’s happening on a TV screen and allows bettors to place bets on the app.
Companies are exploring the best ways to monetize the sports betting opportunity. Some streamers are opting to work with third parties to make money through affiliate gaming revenue and this is the option Disney seems to be exploring.
Betting is not just about the final result
Live betting on sports isn’t only about the final result of the game. You can place bets on the number of runs scored in an over on a cricket match or tries in a rugby match.
In-play betting is the fastest-growing betting medium as punters can watch how an event unfolds and change bets accordingly. If you see that a certain player is on form, you can place a bet on him to score the next goal. If many fouls are being committed, you could place a bet on someone being sent off or a penalty in a game.
Bettors can bet on so many different aspects of games. Proposition bets, like the result of the next play, are always updated and add extra viewing excitement.
Live betting has never been more widely available, simpler or more technically refined. It’s little wonder that sports streamers want to get in on the action. They realize that sports betting is highly engaging for fans and could provide another source of revenue for them.