Sports betting is a very popular type of gambling that involves predicting sports results and placing a wager on the outcome. It has become the fastest growing market segment within gambling worldwide, and now dominates, accounting for nearly half of the total online betting market. A fifth of sports betting takes place via mobile, and this is expected to reach 45 per cent by 2018. The consolidated global sports betting market, both regulated and unregulated, is worth up to $3-trillion. Around 65 per cent of that figure is spent on football betting, with the Asian market the center of sports gambling. The Chinese, Indian and Southeast Asian markets, where betting is largely illegal, have been identified as the principal operational jurisdictions for unregulated bookmakers.
In China, where up to 1$-billion dollars can be gambled on a single game of football, the ratio of legal bets to illegal bets is 1:10. The global licensed and regulated gambling market (all products including: betting, poker, casino, bingo, gaming machines and lotteries) is forecast to reach $533 billion in 2017. That is a 47% increase from the $363 billion market figure in 2007. The gross gambling yield* (GGY) of the licensed and regulated global football betting market is expected to reach $80 billion in 2017.
The gross gambling yield (GGY) from the global mobile device betting market is expected to generate an increasing share of all interactive gambling reaching nearly 44% by 2018 and representing around 5% of total gambling. This trend is driven by growth in smartphone and tablet penetration. As mobile gambling is exponentially growing, the average mobile gambling spend per adult in the European Union (EU) is expected to grow from just over $1 in 2010 to over $17 by 2018.
Betting on sports makes a game you didn’t care about, interesting. “Will my prediction come up?” “Will my team win?“The anticipation of winning or losing a bet creates a natural high, adrenaline rush, a feeling we seek when looking for fun and entertainment. There’s an edge-of-your-seat rush when you bet on a game and it’s in the final seconds and the bet is won or lost on a single shot.
But why do people like to bet so much on football? Well, the first reason is because most people love to gamble. The second reason why people love to bet so much on football is because people love football. In our modern culture we no longer go to war and battle one another, so instead we enjoy competition through the safer medium of sport. We all like to pick a favorite team so we can get together with fans of the same team, celebrating when they win or supporting one another should they lose. Guys like to think they can predict the outcome of a football game. They like to talk trash to each other and that trash talk can escalate into a bet. Spending a dollar to maybe make a million as in buying a lottery ticket is one thing but when it comes to football betting, there is a little more to it.
Today, you cannot bet a dollar on a football match to maybe make a million bucks. Traditional bookies and betting exchanges don’t offer this type of excitement and adrenaline rush. They simply don’t offer a betting model that can generate the potential returns of lotteries. But what if someone is to invent an innovative way of football betting where players can win unlimited returns, a million or more by betting a single dollar. A platform with unprecedented proposition of unlimited returns where players can showcase their betting skills and expertise to the community, but also win status, privileges, rewards and bonuses for their engagement and activity.
Can you imagine the excitement this kind of game would create in a football betting market that lacks innovation and a breath of fresh air and offers unattractive odds? We see an opportunity to innovate and disrupt an industry with annual turnover of $3-trillion. People love to gamble on football and we made it our mission to make football betting, even more, fun and exciting.
In a simple 6-from-49 lottery, a player chooses six numbers from 1 to 49. If all six numbers on the player’s ticket match those produced in the official drawing then the player is a jackpot winner. For such a lottery, the chance of being a winner is 1 in 13,983,816. Our main challenge was to design a model with a total of 10 outcomes where there will be at least one winner in every football game available for betting. From statistical perspective and in practice, a football game has significantly more than 10 possible outcomes.
In 66.1% of all football game scores in the top 4 English leagues in the last 126 years, neither team scored more than 2 goals. This accounts for a total of 9 outcomes. From statistical perspective, in 33.9% of the games played, at least one team scored 3 or more goals. All though not impossible, it would be very hard to predict the final game score out of 49 options. We decided to improve the odds and simply bundled those 33.9% in “Goal Bonanza” as the 10th outcome in our model. This is how Goal Bonanza was invented.
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White Paper in English
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