Based on latest date released by Juniper Research on the 9th of July, it has been estimated that the sports betting industry will be worth $45 billion in 2017. Betting exchanges and sportsbooks online have been tremendously benefited by the boom of consumer smartphones and tablet users.
Details of the Juniper Research report
Based on the reports released by Juniper Research, bets placed through mobile phones all over the world in the year 2011 totaled $13 billion bets, including bets from the United Kingdom alone, which was $3 billion. The total amount is estimated to be $45 billion in the year 2017, said the reports.
The Juniper research report, titled Mobile Gambling: Casinos, Lotteries & Betting 2012- 2017, mentioned that the year 2011 witnessed most of the top notch sportsbooks experience an enormous increase in the capacity of bets. The increase of bets placed by the European customers, specifically customers in the United Kingdom was also emphasized in the reports.
Based on the information provided by Dr. Windsor Holden, the author of the report, there has been an increase of 40% on bets placed via mobile devices in companies such as Paddy Power, William Hill and Ladbrokes. With the increase in the number of mobile betting customers in these companies, 20% of the total number of sports bets placed is via mobile devices. The report mentions that the mobile devices are currently being used to retain existing customers. Mobile devices should also be used to attract new customers, the report added.
Crucial aspects of the findings
Juniper Research also gathered feedback from various sportsbooks. Based on this feedback, it was found that sportsbooks expect over 40% of the overall bets to generate from mobile devices.
• The total revenue earned from mobile phones from all types of gambling is estimated to be $100 billion by 2017.
• Native apps used in mobile betting remains an important mechanism for improvement of service.
One of the crucial points for mobile betting advancement is in-play, Juniper reports stated. Customers will continue to feel constrained by network problems while using mobile devices to place bets.