- Verizon’s 5G network could spell more dividends for sportsbooks with its faster technology.
- A survey conducted on the new network shows sports bettors will place more wagers when the connection is faster.
- Dignitas, an esports team, has already partnered with Verizon to use their 5G product at one of their training facilities.
NEW YORK – Verizon’s 5G network should cause a spike in sports betting according to a survey by Paysafe. Overall, the internet/mobile platforms for gambling get the most action due to the convenience of it.
With 5G offering a faster connection to place wagers on matchups, gamblers are even more inclined to do more business with the use of their phones.
The 5G Survey
Paysafe conducted a very thorough survey about the introduction of 5G and its impact on the sports betting market. Sports bettors worldwide showed enthusiasm toward 5G when it came to live in-game wagers. The biggest gripe that gamblers had with this form of gambling was a slow connection.
They felt slower connections meant they were not getting the most up to date information for their wagers. Now that 5G is available, 42% of avid sports bettors that wager more than once a week say they will bet even more. Out of that 42%, half have said they will wager on new sports because of the faster connection speeds.
Stadiums and other sporting venues that equip themselves with 5G connectivity will likely see more action being placed at their events with live in-game bets.
In fact, fans that wager on games expect that the stadiums that are allowed to offer sports betting should have the 5G system so that fans may wager from their seats quickly.
“5G offers a lot of growth opportunities for operators of mobile betting platforms as it gives better searching, faster transactions and improved in-play functionality,” said Daniel Kornitzer, Chief Business Development Officer for Paysafe.
“Our research clearly indicates that consumers have the appetite for the progress and flexibility we see with the emergence of this new standard of wireless connectivity. For players, it’s all about being able to place bets safely, anytime and anywhere. We would urge sports betting operators to be ready for the increased traffic on their platforms – it’s a huge opportunity for them.”
While stadiums have no yet embraced the latest in sports betting technology just yet, Dignitas, an esports team has opened a training facility with Verizon to use their 5G network.
The market for sports betting has just expanded that much more with 5G. Even more business is expected for sportsbooks by bettors on the network. Verizon has fallen into a money pit without realizing it when they created the faster technology.
They will now have potential profits coming in from the wagering on sporting events, an unexpected market they have now tapped into and a set of new customers that want in on their network simply to place wagers faster.
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.