Research on Sports Betting Markets & Future Directions

Growth in the Sports Betting Market

There's no denying that the sports betting market is growing at an incredible speed. Today, punters can bet on major sporting events, virtual sports, and even esports featuring the most popular video games.

From horse race betting to major league baseball betting, there's something for everyone these days. We can only expect the industry to continue to grow with more sports betting sites and technologies entering the market. 

Recent research indicates the sports betting market will experience a $134.06 billion growth between 2020 and 2024. Many things have contributed to the increasing growth as far as markets for sports betting are concerned.

One of the biggest trends leading to this growth is the increasing commercialisation of sports events. The digital revolution has and will also continue to play a crucial role in the progress of sports betting markets of the future.

This is certainly another area of study researchers should pay attention to in the coming years. For instance, future researchers can focus on live betting and other new ways of betting.

Final Words

To sum things up, additional research is needed to provide useful literature on sports betting prices. Modern-day research on market efficiency needs a new approach to obtain current information using more effective probability models.

One way to achieve this goal is to change the types of questions asked by researchers. Research also suggests that it's helpful to adopt a creative and constructive process of applying the efficiency hypothesis.

The efficient markets hypothesis has faced rejection in the past, but it's still an important tool for future research in sports betting. Researchers should use it to study betting prices and extract more useful information.

With the right information and analyses, it is possible to construct the most appropriate models to understand the pricing process. This is essential in a fast-growing betting industry where sporting events are heavily commercialised.