What is Fuelling the Growth of Online Bookmakers in the EU?
Since 1996, the online bookmaker industry has grown from one online casino to hundreds of online casinos, sports betting platforms, and mobile in-play apps. We all know punters love to place a bet, but what is fuelling the rise in online bookmakers in the EU?
Online bookmakers have seen substantial growth in the last few years. Millions of people use their mobile devices and computers to watch live matches and sporting fixtures, and place bets. It is a multi-million pound industry and many big bookmakers are now household brands. Ask any family if they can name a branded bookmaker and they will have no problem telling you who their favourite bookmaker is.
The Rise of Technology
Technology has fuelled a rise in online betting. It's never been so easy to place a bet on a sporting fixture or horse race. Anyone can open an account with a bookmaker and download their app to their smartphone. It's quick and easy to check out the latest live matches in the Premier League or see what's happening in the European football fixtures. If you have a tip, or you are feeling lucky, you can place a bet in a few clicks. As the industry continues to grow, many leading bookmakers are expending their brand into EU countries, in a bid to capture the lucrative foreign markets.
We Live in a Global Marketplace
We now live in a global marketplace. Within Europe, the Schengen Agreement means we are free to travel where we wish within the EU, although that might change once Brexit finally happens. Once you go online, however, the borders are meaningless and anyone can access a website in a foreign country.
For online bookmakers, the EU is a lucrative and relatively unexplored market. It is hard to continue making profits at the current level, so the best way to grow the business is to expand into new territory. Large bookmakers such as Paddy Power are fully aware of this, which is why are making the move into Europe.
Moving into the EU
Consumers abroad are happy to use whatever online bookmaker offers them the best odds. Where that bookmaker is based matters very little to them, so it makes sense for bookmakers to adopt a global approach to their business plan. The rise in smartphones has made it incredibly easy to access online content from anywhere in the world. Consumers with an interest in online betting can log into their account from anywhere in the world. Many EU countries such as Italy take betting very seriously, so bookmakers stand to make a significant profit if they are able to crack the local market.
Beyond the EU
Large bookmakers are already investigating business opportunities beyond the EU, with some looking at migrating into the US market in the not too distant future.