90% of All Sports Betting Could Be Done Online in the Next 5-10 Years
Gambling executives believe that within 5-10 years that 90% of all sports betting will be done via a website or mobile device.
Speaking in Atlantic City at the East Coast Gaming Congress, executives declared that the threshold will be reached due to the advancement and sophistication of the technology.
The conference was held in New Jersey as the state released betting figures for May where online bets accounted for 82% of all wagering in the state.
CEO of NeoGames, Moti Malui, predicted that over 90 percent of all betting on sports in America would be done via a mobile device within the next decade.
NeoGames is a worldwide operator in the internet gambling and lottery technology market.
“Innovation will drive through that,” Malui told the audience. “And who knows what mobile will look like 10 years from now?”
Parikshat Khanna, CEO of the popular sportsbook operator CG Technology, a Nevada-based licensed bookmaker, seconded Malui’s prediction.
“The true capability of sports wagering is mobile,” Khanna said.
Khanna told the crowd that it was always believed that bettors would want to spend 3-4 hours watching the game in the comfort of a sportsbook.
But mobile betting quickly took over 60% of their business when introduced in 2009.
Another high-profile gaming CEO, Itai Pazner of 888 Holdings, is far less sure of the future of mobile.
Pazner told the assembled crowd that he feels that only half of all betting will be done via mobile devices in America.
Regardless, the tsunami-sized wave of mobile betting cannot be denied by operators or regulators.
“Society’s movement to mobile in just about every area cannot be denied,” said David Rebuck, director of the New Jersey Division of Gaming Enforcement.
“To ignore it will just cause problems in the future; Your customers want it, and they’ll access it on the black market for sure.”
Vice president of strategy and business development at bookmaker William Hill, Dan Shapiro, said that mobile betting “(is) the way the world is moving.”
If the future is online betting, why are states hesitating?
Despite New Jersey’s massive totals, in May the state booked over $315 million in bets with 80% of them coming online, other states are balking at moving to online gambling.
In New York, legislators have just allowed a handful of casinos to offer sports gambling but continue to stall when working on a statewide expansion of mobile sports betting.
In Illinois, DraftKings and FanDuel were left out of the first sports betting bill due to their previous history of running daily fantasy games in the state without the approval of the state’s Attorney General.
Other executives are warning states to be careful with pushing online gambling too soon.
David Cordish, who runs casinos in Maryland and Pennsylvania, cautioned the audience on jumping in too quick with mobile sports betting.
“You’re fighting for that customer up there in the ether,” he said.
“It costs a lot to market to that customer, and you’re not the only one. What we should be doing is building real facilities that attract the guest. It’s a fun event.”
With New Jersey already booking 82% of all bets online, it is not hard to see a future where the 90% mark is hit within the next few years.