Whether you are a gambler or a bookie, taking an interest in this topic can help you understand how to move within the world of sports betting and find new opportunities in the bookie market.
Think for a second, what would be the consequences if the bookie market is limited to a few providers?
From both perspectives, the bookie market has become a “no-competition industry”.
Even if the remaining bookies and sportsbooks are supposedly competing in order to gain new customers, there would be a certain balance, and they would aim to eliminate new competition before they have a chance of establishing themselves. I’m not saying they’ll murder them, but they will steal enough customers to make it unsustainable for those trying to make it into the industry.
Also, if the bookie market becomes a “no-competition industry”, odds and pay rates would be manipulated so that they always win more; and because clients don’t have a better option, they would still place their bets with them.
Until now, we have just discussed the effects of a closed industry, but are we facing the possibility of this becoming a reality?
The terrifying truth is that it’s slowly getting there.
Although it may take a few more decades until the bookie market becomes an exclusive circle, certain sportsbooks are already taking control of the market.
Sportsbooks like Bookmaker, Bet Online, Wager Web and William Hill are constantly earning more players.
Even if we gamblers tend to use more than one sportsbook, since it has become a viable options now that the Internet has reached its current state, most are rotating between the same online sportsbooks.
Even if it’s a long shot, the bookie market might eventually become controlled – almost entirely – by just a few hundred entities (one or two dozen corporations and several hundred individuals).
Unless we start supporting diversity, this might become a reality.
You might be wondering if – even with all the consequences mentioned before – an oligopoly (technically one) is really that bad. Maybe upon having control and avoiding the costs associated with competition they will focus more on their customers.
Unfortunately, history teaches us otherwise.
Without competition they have fewer reasons to try to retain a consumer, which means they won’t care if you’re ecstatic or barely managing to withstand their service, because they know you know that others will treat you the same. They won’t go to extremes, but certainly won’t keep trying as hard to provide you with a high-quality service.
So, is it possible to avoid this from happening?
Sure, just avoid limiting yourself from gambling always at the same sites that are owned by just a few companies. Give others bookies a chance, and spread the word about this article to other gamblers so they can become aware of this before it becomes a problem.