Gamblers in Israel do not have a lot of options because due to strict laws pertaining to gambling. Therefore, gamblers are only able to play the National Lottery or sports with the Israel Sports Betting Board. However, Sports Betting in Israel does not offer many options and the Israel Sports Betting Board wants Live Betting Available.
According to the latest sportsbook software news, Sports agencies in Israel are evaluating Live Betting as a new gambling option. Representatives of sports agencies and business in Israel had a meeting with the Knesset Committee on Education, Culture, and Sports. The meeting was about ways to solve the financial losses due to the COVID-19 and the closure of sports events.
Therefore, one of the suggestions to the Israel Sports Betting Board was adding more gambling options to their national sportsbook. Thus, one of the best options was to include Live in-Game betting to their sportsbook.
Israel Sports Betting Board wants Live Betting Available but is it Possible?
While many believe that adding Live Betting platform to Israeli sportsbook is a good idea, it may be difficult. This is because it there is a growing concern that more betting options could lead to more gambling addicts. However, at the moment, there is no official stance on the subject. The Israel Ministry of Finance said that a “professional position has yet to be made”.
The reason they believe Live Betting could help losses in gambling revenue are many. First, they believe that many Israeli bettors are playing at offshore sportsbooks because of the lack of options in Israel. Furthermore, it would help revenue since about 30% of all sports bet made around the world are live bets.
Furthermore, experts in becoming a bookie say that if live betting become available, it will rapidly see dividends. In addition, within a year Israel should see about $145.4 million in revenues from it.