How Online Sportsbooks managed to take over the betting industry?

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The online betting industry is rising on a global level. Statistics have shown that the online gambling market, in which online sportsbooks are included, had total revenue of over $53 billion in 2019 and that they expected to grow at a CAGR of 11.5% annually until 2027.

In Australia, the industry has had steady growth over the last couple of years. It started with a sudden rise in 2016. In the period between 2016 and 2018, the expenditure of the industry went from $23.69 billion to $27.88 billion.

Online sportsbooks have had a major role in this revenue as Australians are extremely fond of placing bets on various sports events. With that being said, we wanted to take a closer look and explain how these sites managed to gain such massive popularity in Australia and throughout the world. Without any further ado, let’s check the details.

They Are Extremely Secure

Legal and licensed online sportsbooks are among the safest sites online. They utilize the latest SSL encryption software. If you are wondering how it works, we are more than happy to explain. This is an AI system that takes all of the data from the registered players and turns it into unbreakable codes. The codes are then used as a means of communication between the servers and in doing so, the chances of being scammed or hacked are slim to none.

Not only that but when players register at an online sportsbook, they can use aliases to place bets on the games. In doing so, players receive a certain level of online anonymity, and that greatly increases their overall security. Being secure in the online world is a massive benefit, especially in times where online scams are happening quite frequently.
Finally, both domestic and international regulatory bodies are in charge of licensing and overseeing the work of online sportsbooks and they make sure that they always maintain the highest standards. The license is one of the most important features as it is an indicator of an online sportsbook that can offer its services to the players legally. If you are looking to register at licensed and the most reputable online sportsbooks, feel free to check the list of the best new betting sites in Australia as it contains useful information.

Numerous Accepted Payment Methods

Since online sportsbooks deal with online transactions, it is only logical for them to meet the individual preferences of the players when it comes to payments. While Australia does not have specific restrictions to some payment methods, there are countries that do.
That is why they have tons of accepted payment methods. Credit and debit cards may be the most frequently used methods, but e-wallets such as Skrill, Neteller, PayPal, as well as bank transfers, pay by mobile, prepaid cards, and many more are accepted at these sites.
Each deposit is instant and withdrawals are transferred pretty fast. The processing time depends on the chosen method, but it is usually no longer than 5 business days. Additionally, thanks to the security system that was mentioned above, payments are extremely safe.

Easy Access

Online sportsbooks can be accessed at any time and place. All players need is a stable Internet connection. Considering the fact that the trend of mobile betting has been on the rise lately, the bookmakers also started utilizing the latest HTML5 technology and made their sites fully optimized for mobile and tablet use.

As of 2021, the number of mobile phone connections in Australia exceeded 32 million. That means that there is at least one phone for every resident in the country. The trend is likely to continue, which is why some online bookmakers even developed apps to make the mobile experience even better.

Thanks to the easy access, players can place bets on the games within seconds, which is not the case with brick-and-mortar sportsbooks.

They Promote Responsible Gaming

The final feature that we are going to mention in this article is responsible gaming. As one of the necessary features of online sportsbooks, these sites are always urging the players to wager responsibly and never take unnecessary risks.

Conclusion

It goes without saying that online sportsbooks have tons of great features and hold numerous advantages over land-based bookmakers. These advantages are the reason why thousands of people register at these sites every day.

One additional thing that is worth a mention is that betting sites also have far more betting options available. You can practically find every sport that you can think of at these sites. The great features are the reason why they are dominating the betting industry and they will continue to rise. Some experts even believe that land-based sportsbooks will not even exist due to the success of these secure sites.

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