2024 Forecast Issue
Will these rogues again define your 2024 in sports and sports betting?; Messi wins Golden Bet
So. Close. Now.
Cheers to 2023 and on now to what gamblers in general and sports bettors in particular will be talking about in 2024.
Things That Will Drive 2024
Parlays: American sports bettors love them. The more legs the better. Jack up those odds. (Decrease your chances). Anecdotally, the industry believes at least 55% of the legal national betting handle comes from parlays. Same-game parlays are behind it.
Many gambling industry observers are convinced the affinity stems from American gamblers being indoctrinated on fantasy sports, and parlays — particularly player props — are relatable.
iCasino: Sports betting apps are the shiny thing and why we’re all here right now. But it’s just the lure for gambling companies. Those executives want you in casinos pounding slot machines or throwing dice. It’s a much quicker turnaround than a sports event and the house has big casinos and hotels because of table games, not sportsbooks.
Bringing this non-stop play opportunity into your house is the next ask for these companies. Currently, just seven US jurisdictions offer online casino play, but 38 are in some phase of legalizing or implementing mobile sports betting. That’s a lot of gamblers and amenable politicians mainstreaming mobile gambling as something the populous will at least tolerate, at best, request.
Responsible Gambling Initiatives: ‘RG’ was the buzz topic at the beginning of 2023, maybe because gambling regulators in Massachusetts and Ohio were such vigorous vetters of standards and practices before mobile wagering debuted there. This is not a topic that should fade away with 2023.
DFS Wars, The Sequel: Attorneys general in numerous states are heavily scrutinizing whether daily fantasy sports pick ‘em-style player props constitute unregulated sports betting. Several already have ordered companies like PrizePicks and Underdog Fantasy to cease and desist.
Tribal Power Flex: Barring a seismic rebuttal in either the US or Florida Supreme Courts, the Seminole Tribe of Florida has fortified its gambling monopoly in a state of 22 million. Meanwhile, more than 100 recognized tribes in California continue to dictate how, and if ever, sports betting comes to the prize of all prizes for the US gambling industry. Tribal gaming companies will continue to wield considerable power.
What the Industry Sees in 2024:
Here’s what our friends and Playbook subscribers at Chalkline Sports see for 2024.
Sharpr, which focuses more on esports betting, has some year-end observations if you’re into such things. Cody Luongo notes a disturbing comeback in skin gambling. You can find Sharpr in our recommendations section.
More Prognostications …
KT Group, a sports betting kiosk provider, has published its predictions for the New Year. A sampling:
ArtificiaI Intelligence
According to KT Group, AI and machine learning are set to become instrumental in odds analysis and predictive models within the sports betting sphere. The rapid evolution enables the automated processing of extensive data sets, encompassing historical match outcomes and real-time player statistics. This analytical prowess assists in generating more accurate predictions, elevating the quality of decision-making for bettors.
The adaptability of AI allows for the creation of personalized betting experiences. Through machine learning algorithms, AI comprehends and interprets a bettor's patterns and preferences. This comprehension enables the technology to offer tailored insights, suggesting odds that resonate with a bettor's historical choices and risk inclinations.
While AI brings substantial benefits to sports betting, KT Group explains that it's imperative to recognise potential risks and constraints. Over-reliance on AI data might lead to biases, unforeseen events can impact the predictive accuracy of algorithms, and ethical concerns arise regarding the manipulation of these AI-driven systems. Awareness of these limitations is vital for ensuring responsible and transparent use of AI in sports betting.
In the imminent future of online sports betting in 2024, KT group predicts AI and data analytics will wield significant influence. AI algorithms — leveraging real-time data analysis — will decipher intricate patterns, delivering more precise forecasts on sporting event outcomes. This predictive capacity empowers bettors to make informed choices and refine their strategies. Furthermore, AI's application extends to personalizing the user experience, tailoring betting suggestions based on individual betting history and preferences, thereby enhancing user engagement and satisfaction.
Virtual Reality and Augmented Reality
Virtual reality (VR) introduces a fully immersive 3D environment through headsets, offering a 360-degree view of stadiums or arenas. For sports betting enthusiasts unable to attend events physically, VR recreates the ambience of being at the game, amplifying the thrill of the experience. Moreover, VR's potential extends to providing real-time statistics like player heart rates or speeds, empowering bettors with comprehensive player performance insights for more informed wagers.
Stories that Defined 2023
Pour one out for the Professional and Amateur Sports Protection Act. Gone five years. Now what?
Pro athletes kept betting on their sports: They shouldn’t do that.
ESPN BET launched: World Wide Wager.
Florida got legal sports betting: Hard Rock and the Seminole Tribe has a state of 22 million residents all to itself.
bet365’s 2023 Debrief: This Guy
“THE MESSI EFFECT: Action on Inter Miami was exponentially massive compared to prior action, often by a thousandfold. [Lionel] Messi performance markets often took more than the whole game action for [full time].
“… there aren’t enough hyperbolic metrics to measure his massive impact on the betting action, compared to prior arrival in any game he played in for the time that he was available and Inter were still in the hunt. Once injuries came and results didn’t keep up, the attention went away, but of the action taken, if Messi was playing or possibly playing, that was the most popular bet of the day.“
Most bet player prop overall at bet365 in 2023: Basketball Player Points.
“With the more vertical game, the performance props are heavy to QB/WR/TE, as many teams don’t run the ball as used to, so the TE’s are taking more of the action than the RBs, which is a flip from longer-term norms.”
(Brant James illustration/AP Photo)
Fun Stories, People We Met, Stories They Shared
Artificial intelligence has its digital fingers on your sports bets, too. …
And this guy thinks he can use it to win bets.
Would you bet on slapfighting?
These guys make all those little stats that help you make better betting decisions.
Meet the trainer who turned actors into Magic and Kareem.
The PGA really wants you to bet on golf.
Inside the $9 million Circa survivor pool
Assessing the then-undefeated NFL teams
(Brant James illustrations/AP Photos)
Kentucky
The family is doing the yearly holiday drive from St. Petersburg to Quincy, Ill., and our well-trodden route will allow me to add another punch to my card of states where I’ve made a legal sports bet. You’re up, Kentucky. I used to have a pretty high percentage, but there’s so many legal states now.
Odds …
… and Enders
Residents of all three Delaware counties might get online sports betting
By Brant James, Gaming Today Senior Writer