Sports betting decline has occurred rapidly in the past 2-3 years. As it is said that there is a fall after every rise and vice-versa, same has been the case with online sports betting. Betting as a profession had a great rise in the late 18th century, entire 19th century and even throughout the 20th century. But, in the 21st century, it has declined rapidly. In the early 19th century, there was a great buzz about the profession as there is for every new thing.
So, loads of people tried it out and liked it. Due to positive reviews, many more people joined the profession and consequently became richer. In the late 19th and early 20th century, due to increased profits many more people got attracted to the profession and so its base reached the pinnacle by the end of 20th century.
However, a number of factors can be considered responsible for bringing about its decline. The first and foremost in the list would be the implementation of the Unlawful Internet Gambling Enforcement Act of 2006. This act was issued by the Act of Congress of the American government. Due to the successful implementation of this act, people gambling on various sports to earn profits could be arrested and detained. Fearing this, many people in America withdrew themselves from the profession. This led to an overall decline in the investments in this field, as America has always been the hub of betting activities.
Following the American model, many countries in the world passed and implemented such acts to reduce the number of bettors. This has contributed to the decline of the sport as with number of investors reduced, the total capital generated by the sport has declined and thus has forced out other bettors from different parts of the world, as they did not earn as much as they could. This has also enabled the former low level betting systems to rise due to the lack of competition.
Due to the reduced number of bettors, various betting sites now cannot earn profits and have gone bankrupt or closed down. This has further depleted the number of bettors because the beginners now cannot find decent and profit promising betting sites. Another factor that has led to decline of the profession may be that the amount of interest generated in the sport when it was new has faded away as it got old. Now, people have got more interesting professions to practice and these also promise them good profits. This has been a major factor in the decline of online sports betting..
But, as it is said, there is a morning after every night, sports betting enthusiasts must be hoping that this phrase proves itself true and the profession might rise breaking the previous records.