Sportsbook Market Share
Sports betting establishments are a huge deal in North America; 2010 estimates show that almost nine billion dollars is wagered inside the United States and Canada per year. Even though a sizable portion of that revenue is generated from horse racing, jai alai, and greyhound tracks, there are also thousands of establishments dedicated solely to sportsbook betting on professional sports as well.
Popularity in the United States
One reason for such a huge gambling market in North America is the residents love for numerous sports; the professional hockey, baseball, basketball, golf, car racing, and football leagues inside the United States all have huge followings. Collegiate sports are even more popular with some residents around the nation and US sportsbooks take bets on almost all match-ups, from pee-wee leagues all the way up to the pros. In fact, North Americans are renowned for betting on just about anything, which is evidenced during presidential elections, spelling bees, or even signing competitions.
Popularity in Canada
Besides the professional teams that Canada has competing against the Americans in the NBA, MLB, and the NHL, Canadians seem to have a true passion for hockey and several other sports as well. The CFL is their premiere football league and they also have professional soccer and lacrosse teams that compete on the international level. It doesn’t seem like having a lack of local teams slows this region’s sports betting tendencies at all, however, since citizens often wager on sporting events taking place within the United States. Canadians also wager on snooker, racing, rugby, cricket, and boxing. For more betting options visit Gambling Nerd.
Online Sports Betting in North America
Although there are not any US-based sportsbooks in cyberspace, that does not seem to deter Americans from betting on all of their favorite match-ups on a daily basis by using foreign sports betting sites. While it is difficult to put a concrete number on the amount wagered over the internet each year, analysts believe that the US population may account for as much a $2.5 billion dollars per year within overseas betting establishments. The United States is currently reviewing the benefits of legalized online gaming and may pass legislation as soon as the summer of 2012.
Canada does have several sportsbooks that are regulated by the government, and they were one of the first regions to show the world how proper legislation can lead to serious profits for rebuilding a country’s infrastructure without over-taxing its citizens. Approximately one in three Canadian households were believed to place a wager in cyberspace sometime during 2010 and the trend seems to steadily be growing throughout their mainstream culture. Another surprising Canada statistic shows that while online gambling is up 4,000% over the past five years, their land based casinos and sportsbooks have only seen a 35% decline during that same time period.
The most popular online sports betting site in North America is currently Sports Interaction. It is based in Canada and offers wagers on just about anything a gambler can dream of, including many wagers on foreign sports that do not take place on the continent. BetEd.com and 5dimes.com are also very reputable establishments that are used by both US and Canadian residents.