In 1981, the Buggles released the first music video for their song Video Killed the Radio Star. According to the song’s writer, the idea for the song is that technology is changing everything. He saw video as the future. At present, some people are wondering if online betting will kill retail sportsbooks.
Online betting began in the mid-1990s, with most operators based in the Caribbean. In the next couple of years, more online sports betting sites were launched, including William Hill. Also, there was an online poker boom in the 2000s. However, it was only recently that online sports wagering became more popular worldwide.
In the US, almost half of the states legalized sports betting. Nine of them allow mobile wagering without in-person sign-up requirements. Also, New Jersey overtaken Las Vegas in sports betting handle, with most of them came from mobile bets.
Online Betting Kill Retail Sportsbooks
From 2019 to 2020, retail sportsbook revenue dropped due to the pandemic. However, online sportsbooks continued their success during that time. White label sportsbook experts expect mobile betting to continue its upward trend in the next couple of years.
According to software sportsbook reports, many traditional retail outlets are starting to invade the online space. Also, some online providers are opening retail locations. It is easier for online operators to create a physical sportsbook than brick-and-mortar bookies trying to venture online. On the other hand, bookies can use a pay per head solution to digitize their operators in no time.
Most players use mobile apps to wager on sports when available. Mobile wagering is more convenient because it allows players to bet on sports whenever or wherever they are. However, some states limit where players can use apps to bet on sports.
Although mobile betting is more popular, there is still demand for retail sportsbooks. Thus, they would not die any time soon.