The evolution of sports betting has been amazing, with the industry evolving into one of the biggest forms of entertainment globally. Though, it isn’t just in terms of popularity that the industry has changed. From exciting new tournaments to AI assisted training and even sweeping mobile access, it is an exciting time for a sports betting enthusiast to be alive.
Here are a few quick facts that indicate just how much the industry has been changing in recent years.
Baseball Is Still Uncrackable
As much as has changed in sports, baseball has remained a constant in one very specific way. Namely in that it is an extremely difficult sport to bet on. With all the AI technology and advanced prediction algorithms, it might be thought that some progress would have been made in baseball. But, alas, the sport is as difficult to predict as it has always been. That’s why beginner betting enthusiasts often steer clear of baseball, with other sports being far easier to come to terms with.
But who knows, maybe a genius will finally come up with an algorithm that makes baseball easier to predict.
A 50% Win Rate Is Considered Professional
So just what is the hit rate of a sports betting pro? 80%? 90%? No, it is closer to 50%. Yes, prediction models and advanced AIs have made placing successful bets easier, but even the best in the world still only get around a 50% accuracy rate. But this percentage is misleading.
There are far better sports betting ratings systems, prediction methods and more that help place successful bets. But the trick is that betting is always a game of risk versus reward. Risky bets have to be made in order to get bigger payouts. This means that even the pros are going to have more than a few misses.
Take a guess at what percentage of the world bets. If you guessed nearly a quarter, you’d have been spot on. The popularity of betting has reached such a peak that billions put down bets, drastically more than just a few decades ago. Though, this percentage has to be taken into context.
The 20% includes those that have put down even a single bet. This means that 20% of the world isn’t regular bettors, which really would be incredible. Even still, it is clear to see that sports betting is bigger than it’s ever been.
The United States like to go big, of that there is no question. From big food portions, to big cars, and even big bets. A recent study revealed that the US puts down the biggest bets in the world, by far. When compared to the United Kingdom, a country considered to be big on betting, it was found that the US is ahead in terms of average bet size. By far.
In fact, the average US bet is around 40% bigger than in the UK. It wasn’t indicated if US bets are also more likely to be winners, but one can only hope.