Sports betting has gone through a string of changes that have both benefitted and affected the activity to a large extent. One among the many reasons for the latter involves the current processes take on professional sports bettors. Unlike before, the pros of the game are not able to flex their wings and fly as high as possible. Their actions in the trade tend to be limited, pushing forward their downfall. So what exactly is causing this, and how is it taking shape? Well, let’s move further into it and find all about it.
1. The Dying Art of Bookmaking
One of the significant causes for change comes through the lack of understanding in differentiating between bookmaking and betting. A lot of individuals do not consider these terms to be different or do not care. When the Supreme Court replaced the Professional and Amateur Sports Protection Act of 1992, they allowed individual states to lift restrictions and regulate the entire process of bookmaking. New Jersey was one of the many states that lifted the ban, and as a result, there are over 10 physical and 14 online sportsbooks in New Jersey.
While all this can be considered to be successful for the business of sports betting, it is slowly taking shape to trouble professional gamblers. Things have gone further into an extent where everyone is starting to classify the process as a dying art form. According to the data collected by the firm, Eilers & Krejcik Gaming, sports gamblers are now divided into seven different categories. As a result, players tend to fit into one of these categories, and as they improve their game, they move from one group to another. But considering the position and knowledge of professionals, at times, they tend to hold all seven categories. Due to this, their actions are limited, and bookmakers might not extend their invitation to such players.
2. The Rate of Expansion
The sports betting industry has gone through suitable changes by bringing in European companies. Their services have become an essential part of the activity, and many strive forward with the same. But as far as the professionals are concerned, such changes don’t seem to be pleasing. The European model of bookmaking is not viewed as a comfortable choice since it is quite hostile to winning players. The new practice of limiting and banning professionals does not come to their rescue and thus, manages to put them down.