Sports fans today have lots of options to choose from. Live streaming is an awesome discovery as it lets you catch the action in real-time. It is one of the most effective ways to win over viewers and sports fans. Gaming giants are eyeing online sports betting. After all, streaming services would be highly beneficial to betting enthusiasts.
Many streaming services are already adding betting features to their sports feeds. Streaming is an effective way to improve engagement and avail new betting streams. FuboTV, Disney, DAZN, and Sling have already shown interest in the space.
Why Betting Is Synonymous with Sports Streaming
Credible sports services already understand that a sports betting goes hand in hand with matches. With some strategy, it is possible to make a lot of money. Sports fans have been placing unofficial bets with their loved ones as they watch the game for a long time.
According to FuboTV’s chief product officer, Mike Berkley, it is nothing new. It is at the center of being a fan. Most people who watch sports make casual bets with their family and friends. Making the bets official could improve sports fans’ experiences.
Disney has announced to be ‘keenly interested in betting.’ Apparently, the company is aggressively pursuing the venture. Being the typical family-friendly content purveyor, Disney is ideal for the space.
According to Disney boss, Bob Chapek, the company is already seeking to achieve a bigger presence in the world of online sports betting. It is targeting ESPN audiences. The boss also stated that Disney is aggressively pursuing the venture because of the profits it promises.
Based on a Puck report, Disney is exploring a potential ESPN spinoff. Even though a source speaking with CNBC refuted the claims, it was already sparking conversations.
The Growth of Sports Betting
People have always placed bets on sports and other events. However, they could not place official bets because of a federal ban. However, in the last few years, sports betting has been on a consistent rise.
When the Supreme Court lifted the federal sports betting ban in May 2018, the industry started recording an upward trend. Individual states now had permission to legalize it. Today, thousands of sports lovers place bets in both online and land-based casinos.
They spend an average of 3.2 hours on fantasy sports weekly. As more states continue to legalize sports betting, streaming opportunities continue increasing. It is expected to be legal and mainstream. Find the best US sports betting sites outlined here.
Other Companies that Could Get into the Venture
Disney is not the only company with its eyes on the betting market. Dish recently worked with DraftKings to add DraftKing’s fantasy contests and sportsbook into the Dish TV Hopper platform.
Sling also supports integrated betting experiences for DraftKings. There are channels dedicated to providing betting information.
FuboTV has launched a proprietary sportsbook feature in Iowa. It is already making efforts to clear regulatory hurdles for operating in other states, Peacock and NBC Sport team up with PointsBet for betting integrations.
DAZN, a sports streaming service, promises to get directly involved in the betting market. According to Graham James, the company spokesperson, DAZN doesn’t have specific plans to apply in the United States betting market.
However, he also states that adding recreational betting to their platform would be good. It would provide sports fans with an immersive and safe experience in addition to the sports they already enjoy.
The fact that all of these companies are excited to explore the venture proves that it is a viable idea. It is an opportunity that they wouldn’t wish to miss.
How Will Betting Work?
Betting may work in several ways. Sling, for example, works with text-based redirect system. You can initiate it from a menu icon within the experience. Fubo, on the other hand, has a betting feature that functions with a proprietary sportsbook app integration.
It can sync with the events going on in your screen. It is, therefore, a two-screen experience. You can catch the action on your TV and place bets on the app.
Dish promotes betting via a DraftKings integration on a Hoper device. It lets you use a QR code to get onto the DraftKing’s platform. The product is expected to continue evolving to promote engagement. Disney will possibly work with third parties for its offering.
Sports Betting Becoming More Acceptable
Sports betting used to be a taboo topic. However, people have accepted it today. In fact, there are currently 24 states where you can place bets on professional sports online. The legality of sports betting varies from state to state, but most places allow wagers on college teams and even high school games.
In addition to being legal, sports betting is also becoming increasingly accepted by society. This is because people realize that they can make money off of their favorite team or player without being gambling addicts.
It is no longer viewed as just another way to get rich quick. After all, gambling has proven itself to be a stable industry.
Another reason why people enjoy sports betting is that it provides entertainment value. You can watch your favorite players do amazing things while you try to predict how they will perform. Sports betting allows you to follow your team and see what happens when they play. It adds some excitement into the world of watching sports.
What Are the Potential Risks?
Although streaming and online sports betting may seem like a match made in heaven, there are a few risks. Chapek himself stated this. Even though there are lots of potential benefits, there is a chance that it may ruin Disney’s clean brand image.
However, it is a risk worth taking as it could help the company improve its sports arm, especially for younger audiences.
If this idea was brought forward a decade or two ago, the risks would probably be higher. Gambling doesn’t attract the negative attitude it once did. In fact, it has strengthened the ESPN brand and would be unlikely to harm Disney’s.