Last updated on December 8th, 2018 at 04:15 pm
In the past few months, the U.S. gambling industry has seen several changes in the sports betting market. This is because several states like Pennsylvania and Rhode Island have legalized sports betting within their borders. As gambling companies are competing to enter these new markets, Software Companies are thriving from Legal Gambling in the U.S.
This year, several gambling companies in the U.S. market are expanding their operations to include sports betting. This is because the American Gambling Market is estimated to increase by $3-$5 billion in the next five years. In order to cash-in on this potential revenues, companies are turning towards sports betting software companies.
By using the right sports betting software, established casinos are able to enter the sports betting market in record time. This is because they do not have to spend time developing and testing their own sports betting software. Thus, they can maximize profits and branding by being the first to enter these markets.
Creating a Sports Betting Infrastructure almost from scratch
Most European and Asian countries have some form of legalized sports betting in place. Sport betting in Korea has Sports Toto for its citizens while France has ARJEL to regulate gambling. However, the U.S. is behind because a legal sports gambling market has not existed for the past 25 years. Thus, a void needs to be filled in order to create an infrastructure for its sports wagering market.
According to iGambling Experts, the key to the American Gambling Market expansion will take place via online and mobile interaction. In addition, most gambling companies are playing catch up and this has opened a new market for tech companies.
One exception is the Pay Per Head Industry which has been offering ready to go gambling services for over a decade. Sportsbook Pay Per Head companies are actually ahead of the curve because they offer bookies the ability to start their own sportsbook in just a few minutes.
In fact, PricePerPlayer.com, a top PPH provider recently reported a large increase in clients over the past 3 months. This is a 300% increase in customers over the same time period last year which coincides with the new U.S. gambling laws.