The Gambling market

According to estimates, there will be a $40 billion global legal betting industry on horse racing and sports in 2020. Expanding Internet usage, rising mobile phone use, better access to online gambling, societal acceptance, and the huge increase in corporate sponsorships and celebrity endorsements are all factors contributing to the rise of the legal online betting business. The most popular sports for betting are frequently the most popular with sports lovers all across the world. According to a study by the UNODC, football, soccer, and volleyball will be the most popular sports for betting in 2020 across different geographic areas.

A number of technical issues need to be resolved in order for legal sports betting to become popular. Among the various technologies that can be applied to the market are peer-to-peer betting, machine learning models, cyber security, blockchain sportsbooks, micro betting, and E-Sports betting.

Since blockchain is a technical record keeping ledger, it is also the most appropriate solution to regulate legalized betting on the internet.