Major sporting events like the Euro Cup and Copa America are magnets for sports betting, drawing in a surge of casual fans alongside regular bettors, significantly spiking the betting volume.

The CONMEBOL Copa América, often simply called the Copa America, is the premier men’s quadrennial football tournament contested by national teams from South America.

On the other side of the globe, we have the UEFA European Football Championship, known more informally as the Euro. This primary association football tournament features UEFA members’ senior men’s national teams battling it out to determine the European continental champion.

EURO 2024 is known as one of the year’s biggest sporting events. To give you an idea of its magnitude, the total revenue of EURO 2020 amounted to nearly 1.9 billion Euros, making it a significant contributor to the sports betting industry.

Both tournaments offer unique and thrilling football experiences, from the unpredictable excitement of the Copa America to the high-stakes, high-quality matches of the Euros. One of the most striking effects of these major sports events is the substantial increase in betting volume.

Big Games, Bigger Bets.

The sports betting market was valued at $93.62 billion in 2023, with projections expecting total revenue to grow at a CAGR of 10.78% from 2024 to 2030, reaching nearly $190.48 billion by 2030.

In the online sports betting market, users are anticipated to reach 45.2 million by 2029. 

Emerging football wagering trends indicate a shift towards early betting to seize favorable odds. This proactive sports betting behavior aims to capitalize on existing opportunities. Furthermore, the advent of advanced data analytics and AI-driven predictions is reshaping how sportsbooks offer personalized betting experiences.A Fidelity National Information Services (FIS) study reports that bookies predict a 15% surge in betting compared to the delayed UEFA Euro 2020 tournament. This data underscores the massive scale of betting activity that major sports events generate, highlighting the significant impact these events have on the sports betting industry.

Market dynamics and emerging trends in sports betting.

One of the most significant drivers of change in the sports betting industry has been the global expansion of legalized sports gambling. Countries such as Canada, Germany, the Netherlands, Australia, and Ireland have all seen changes in their regulatory landscapes, with more markets opening up to licensed operators.

This expansion has led to increased competition among operators, driving innovation and growth in the industry. Major sporting events significantly influence betting preferences. There’s been a noticeable shift from traditional bets on outcomes to more complex bets, such as in-game betting and proposition bets. During major sports events, live betting, also known as in-play betting, experiences an enormous surge as these games deliver drastic momentum shifts, leading to several opportunities for live bets. Additionally, international matches attract more interest compared to domestic leagues, with a 40% increase in betting activity for international matches compared to regular season games.

Changing customer preferences, emerging trends, and local special circumstances have bolstered the segment’s growth.

Top trends in payments in the betting industry include:

• Convenience and accessibility: Online platforms’ convenience and accessibility have made it easier for customers to place bets on their favorite sports events from the comfort of their homes, leading to increased participation. The integration of advanced technologies, such as live streaming and in-play betting, has enhanced the overall betting experience for customers. 

• Online betting: The online platform led the sports betting market in terms of platform use in 2022 and is expected to showcase a CAGR of more than 12%. The online segment dominated the global sports betting industry, holding the highest revenue share of 62.70% in 2023.

Game-changing innovations.

The landscape of sports betting and iGaming is undergoing a significant transformation with the advent of instantaneous payment options.

Historically, online betters faced lengthy processing times, frustrating delays, and cumbersome transactions when depositing or withdrawing money from iGaming operators.

While streamlining debit and credit card transactions marginally improved the situation, many existing payment solutions further fragmented the experience, as third-party providers often catered only to contracted banks.

This unwieldy system frequently became a dealbreaker for potential users. 

Recently, a wealth of new payment options has entered the mainstream, empowering users with sleek, seamless, and secure transaction systems that have revolutionized the iGaming experience. New instantaneous payment methods have drastically improved the user experience.

Instant payments, a key component of open banking, use APIs to provide third parties with secure access to financial data. APIs facilitate seamless transactions, whether for pay-ins or payouts, by creating a direct handshake between bank accounts. Instant payments have entirely eliminated the experience of waiting days for deposits and withdrawals to be processed, a revolution felt by users at all levels. Transactions are now seamless within the site, providing users with immediate access to payouts and significantly reducing the fear of fraud.

This innovation has also broadened access to iGaming platforms globally, making the gaming experience smoother and more enjoyable for all users.

Looking ahead.

For companies to secure user loyalty in the long term, it’s not just a suggestion but a necessity to adapt. This means ensuring that iGaming remains safe and secure while maintaining the convenience that has been a historic goal of the online gaming industry.

As the sports betting landscape continues to evolve, the trends of 2024 paint a picture of an industry at the crossroads of innovation, ethical practices, and community engagement. From embracing mobile technology to emphasizing responsible gambling, these developments signal a shift towards a more inclusive, user-centric, and sustainable betting culture.

As younger, more diverse audiences embrace sports betting, the industry adapts to their preferences and habits. Understanding these shifting patterns is crucial for the industry’s growth and sustainability. It ensures that it remains responsive and responsible to its evolving user base. As iGaming users and operators alike navigate these changes, the future of sports betting promises to be as dynamic.

Final thoughts.

Instant payments are enhancing the iGaming and sports betting experience by making transactions faster, more convenient, and more secure for users while also benefiting operators.

Partnering with an instant payment provider like Zimpler ensures that iGaming operators stay ahead of payment trends, manage an influx of transaction volume, and expand their business internationally. We utilizes open banking APIs to streamline the payment process by accessing customers’ account information and facilitating payments directly between bank accounts. With an extensive network of local and international banks across Europe, we are dedicated to enabling real-time account-to-account payments both domestically and cross-border.

As the future of Fintech unfolds, our innovative payment solutions will continue to play a pivotal role in shaping the payment landscape of iGaming and sports betting.

The information contained in this post is intended for informational purposes only, and should not be relied upon for professional advice of any kind. Zimpler does not make any representation or warranty as to the completeness or accuracy of the information, and assumes no liability or responsibility that may result from reliance on such information.