Is there enough room in global sports betting for Gen-Z and Millennials?
Boxing and horse-racing are historical landmarks for avenues in which crowds throw their money, but recently other lucrative sports have picked up steam too.
Sports betting has always been popular in American and Canadian
circles. In general, betting is a very ancient activity that has been around for thousands of years.
It is now legal to bet on the NFL, NBA, and MLB, among other leagues, and the revenue that betting mediums and smart gamblers are making is nothing short of ludicrous. And it’s only going to go up.
The global influence that America has is well-covered, in entertainment particularly. Much of this is due to the youth, Generation Z and Millenials.
The latest example of this is in betting, as Generation Z is coming of age into a world where the regulations on sports betting aren’t what they once were. The youth understands that if their money is placed wisely, it can multiply.
Specifically, with the NBA, young fans gravitate to the league because of its flashy style and relationship with social media. The NFL is a staple in American culture and its popularity will not soon die down.
Soccer is the biggest sport in the world, and its wide-ranging popularity will make clear how big sports betting is going to become on an international scale.
For now, domestically, USBets reported in 2018 that 43 percent of men age 25 to 34 who watch sports on TV put down a bet on a game at least once a week.
Fourteen percent of Millenial women in that age group put down a bet in that same criteria. Generation Z and Millenials are the ones leading the charge in sports betting, and not just in America.
Canada is a country that frowned upon gambling in its past. However, recently, the country has decreased its regulations on sports betting, and the effects are sure to be felt in a short time.
Just like how states have different laws and regulations for gambling in the U.S., Canada’s provinces have different rules when it comes to sports betting. The majority of provinces are not too strict with their regulations.
Sports betting is bigger than the U.S., and it is bigger than all of North America. The global implications that one country’s investment in the industry has on others cannot be understated, and it is clear that companies in Canada and the U.S. are setting themselves up for lucrative payoffs in the future.
Mostly, the whole wave is being started by the younger generations, Generation Z and Millenials. Gambling is no science, but the opportunities within sports betting right now are massive for the short-term and long-term.
In the end, broke money doesn’t make money.