The global gambling industry is one of the biggest success stories of the early 21st century and it’s been a vital contributor to many economies across the world. Projections suggest that the sector may be set to produce a combined total of $565 billion dollars in revenue from 2022 onwards and those numbers are simply vast.
Many different platforms make up the total figures including sports betting, poker, casino and lottery games and for many consumers, this is a diverse and entertaining area.
One of the reasons for those big revenue projections lies in the fact that the gambling sector is a seriously competitive one. New operators set up online on a regular basis and there always seems to be room for more providers despite the crowded nature of the industry.
In order to stand out from the competition, operators need to look for new innovations. In recent times, live casino, in play betting and cash out have come along to build interest and offer customers more choice and excitement moving forward.
Among the new developments, an exciting new concept brings together two distinct sectors of the gambling industry – betting and poker. It is now possible to bet on poker players but how does this work and will this option grow to become a flourishing aspect for operators in the future?
Why would you bet on poker?
While you might love poker, it can be a real struggle to get a win in a competitive environment. If you read any decent poker betting guide, you’ll soon see that while it’s a simple game, it is incredibly tough to master. So, staking players enables those with a passion for poker to get involved, even if they don’t have full confidence in their own ability.
How to Play
While the development is an innovative one, the actual concept is quite simple. Find a tournament where markets are being quoted, pick a player and stake on them to scoop some cash during that event. In short, when they win the bettor wins and that’s a tempting new prospect for the online betting and poker playing community.
It really is that simple, operators are looking for new creations and their account holders will always consider their options but does betting on poker players have a big future or is it set to stay as a niche, out on the fringes?
The ability to bet on poker players follows a similar concept to a growing market within the sports betting industry. Daily Fantasy Sports (DFS) has been a huge success and it’s an area that tests a bettor’s analytical skills to the full.
Using soccer as an example, the customers may pick a fantasy team from players across a specific division. When matches are played out in real life, those players earn points for goals, assists, clean sheets and more and, at the end of a season, points are totalled and the best performing fantasy team wins a prize.
That example described DFS perfectly, but the concept can be carried over to many other sports such as golf, American football, rugby and cricket. With that in mind, the new innovation which allows for betting on poker players is a logical extension and, if it follows the success of fantasy sports, it should be set for a big share of the market.
Tips and Tricks
In order to be successful with betting on poker players, the bettor should do as much research as possible. Any form of sports betting requires analysis into form and trends and this new innovation asks for a similar thought process.
At a basic level, ask which players are on a hot streak and look set to continue that form into upcoming tournaments. Success at a certain tournament could also be a strong indicator when assessing a player’s chances of winning at the event in future years. Poker obviously has that chance element but there are instances where players do well at certain tournaments on a yearly basis. It could just be that they are comfortable in the surroundings but whatever the reasons may be, these are trends to watch out for.
Prospective bettors should also take a look at the competition. Is there a strong field taking part or are there some key players missing? All of these questions, and more, should be asked before staking on your preferred poker player.
For extra practise, bettors can make ‘paper bets’ – trial stakes without money changing hands which could be a perfect way to get a handle on this new way of betting.
Where some lead others will follow and it’s likely that more operators will incept the betting on poker players markets in the months ahead. Any new concept will be watched carefully but as a similar option to the highly successful Daily Fantasy Sports platforms, it looks to be a winner.
Another option for betting could well succeed on a regular, everyday basis but there are certain times of the year when it can really stand out. Football is the most popular option as far as the traditional sports betting community is concerned and there are times when the big leagues come to a conclusion and enjoy some downtime during the close season. Major tournaments can come in to compensate but when there isn’t a World Cup taking place, customers will look elsewhere for their entertainment.
This is where poker betting can step in to take over. The new formula deserves to enjoy success in its own right but there is that additional option to fill in and take advantage of a slow sporting period. Whatever a specific bettor’s approach may be, this is a thrilling new concept that is worth checking out.