Sports betting quickly is taking over the world of sports. It all started with fantasy football and trended into legalized gambling. Sports betting is now legal in 22 states and Washington, D.C. Although it still comes with the negative stigma of degenerates spending their entire mortgage on a single game, it’s widely accepted as a new way to consume a game. In these states, new companies have been sprouting up to get in on this profitable way of feeding a sports audience.
Profiting from the casual sports fan
Professional sports bettors are not the main audience for these sports betting companies. Professionals know how to profit from betting sports. But the typical consumer does not have access to the algorithms and trends that professionals use to succeed. So, the casual sports fan is the target. By making sports betting more accessible to the masses, these businesses have a larger opportunity to profit from users’ lack of experience. Draftkings and FanDuel are the most notable companies that have been trying to make gambling accessible to the casual sports fan. They have been running promotions that make you feel like you’re losing money if you don’t take them.
Falling for marketing ploys
As someone who consumes my fair share of sports, I am subject to a lot of these ads. They’ll promise you “a free bet of up to $500 for new users only” or “bet $50 and win if this team doesn’t lose by 100 points.” We often overlook the fine print that they give you a payout of free bets on the app. So, with the money you win from these promotions, you must spend it on the app. This allows the casual user to get into the app and place a few more bets to actually profit. If they have fun, maybe they decide to put down a few of their own dollars. And that’s how they grow their audience. These apps can be a fun, new way to consume a game, but make sure that you are not falling for their marketing ploys. It is important to budget your money and to be responsible if you are partaking in this method of betting.