May was a profitable month for sports-betting, with significant revenue generated through various betting activities. The overall revenue from sports betting in May increased by 20% compared to the previous month. This growth can be attributed to the heightened enthusiasm for sports events and the increasing popularity of online betting platforms.
Football betting emerged as the most popular sport for betting in May, accounting for approximately 40% of the total bets placed. The UEFA Champions League and domestic leagues attracted a large number of bettors, resulting in substantial revenue. Tennis betting also experienced a surge in May due to prominent tournaments like the French Open and various ATP Tour events.
In terms of betting markets, the majority of the bets were placed on match outcomes, including wins, draws, and defeats. Additionally, there was significant activity in the over/under betting market, where bettors predicted the total number of goals or points scored in a match. These two markets dominated the betting scene, generating substantial revenue for bookmakers.
Online betting platforms continue to be the preferred choice for bettors, with the convenience of placing bets from anywhere and at any time. Mobile betting apps gained even more popularity in May, contributing to the overall revenue growth. The ease of use and user-friendly interfaces of these apps attracted a larger number of bettors.
Overall, May proved to be a successful month for the sports-betting industry, with increasing revenue and diverse betting opportunities. The upcoming months are expected to bring further growth and profits for both bookmakers and bettors.
In the world of sports-betting, the revenue recorded in May amounted to an impressive $3.1m, marking a substantial increase compared to the same month in 2020.
The Covid-19 restrictions imposed in May 2020 greatly impacted the revenue generated from sports-betting. The cancellation or postponement of major sporting events during this period led to a significant decline in betting activity, resulting in lower revenue for the industry.
Without popular sports events to bet on, sportsbooks faced a reduced number of betting opportunities and subsequently experienced a decrease in customer engagement. This decrease in customer activity directly affected the revenue generated from sports-betting in May 2020.
The lack of live sports events also affected the popularity of online sports-betting platforms as bettors had limited options for placing bets. With limited sporting events available, bettors were less inclined to participate in sports-betting activities, further impacting the revenue generated during this period.
According to April 2021 revenue, sports-betting experienced a 5.7% decrease.
