|Article by Wraggster|
Date: Wednesday, November 30 - 2016
Betting is among the most popular things people do online. The form of wagering commonly referred to as "sports betting industry" is an incredibly diversified business, with a massive value. Here's what Statista has to say about the industry:
The total value of the global sports betting market is difficult to estimate because of the lack of consistency in how it is regulated in some parts of the world. Some estimates put the value of the sports betting industry at between 700 billion U.S. dollars and 1,000 billion U.S. dollars. Illegal sports betting alone could be worth 500 billion U.S. dollars according to some estimates.
This business is one of the most inaccurately named ones in the world, though. Although sports are still at the core of the industry, there are many other things people are constantly betting on. You can get the latest stats and odds analysis from Grizzly Gambling to have a better idea of what I'm talking about. But to see how diverse the sports betting business is, here are three things people are betting on that are far from having anything to do with sports.
If there's any "sport" that's unfair, unsportsmanlike, and dirty. And people love to bet on it.
This year's presidential election in the US was an incredibly rich one for bookmakers. After all, it had two of the most controversial candidates the history of US elections has ever seen. The amount wagered by punters on the outcome of the 2016 presidential elections was a record: by Sunday, November 6th, people have placed bets worth over $130 million on the outcome of the election. This wasn't this year's record-breaking amount, though - the total wagers placed on the outcome of the Brexit referendum exceeded $159 million, a Betfair spokesperson said.
TV shows are not only exciting to watch but also exciting to bet on. Among the things people wager on at Paddy Power, the master of mischief and world-class novelty bets, we can find major media events like the Grammys, the Eurovision Song Contest or the Triple J Hottest 100 - whatever that might be. Hollywood didn't escape Paddy either - punters can bet on the next James Bond, the next Bond girl, and the "winner" of the Razzies, too.
Not the TV series, of course - although there are plenty of TV-related bets to be placed. Paddy Power offers its punters the chance to bet on things that are rather strange. Its punters can bet on the end of the world (the odds of the world ending in 2016 are apparently 500 to 1), and on whether (and when) the existence of alien life will be proven.