The sky is falling, the sky is falling! As we all run around like chickens with our heads cut off, or simply just settle into a long extended financial winter – depending on our current financial and cashflow situations – it’s interesting to see where other generally less desirable risk-based money spinners are picking up. Case in point: sports betting.
Is a Recession Imminent?
With stocks and crypto in a downward spiral, interest rates rising, and general international stability, it is tricky to see where a good investment could lie. The current state of the market is rather dire. Even the generally upturned S&P500 is down almost 10%. Bitcoin, the world’s most mature cryptocurrency is down a whopping 50% from the start of the year. If you had too much of your money in crypto expecting BTC to hit $100K soon (like many predicted would happen) then you might be in a world of financial pain. Time to sell the car (or the kids?). All this financial kerfuffle has arisen from the perfect storm of conditions. We were already on uncertain ground with Covid and ongoing supply chain issues. Then, much to a lot of the world’s surprise, Russia went and invaded Ukraine starting a full on war. While these are awful events, it also leaves people wondering what to do with their cash. Keep it in a savings account where the interest rate doesn’t even anywhere near match current inflation levels? Armaments for war? A bit controversial. Grain? Aluminium? Crypto might be on sale at the moment, but is there any guarantee that it will pop back up any time soon? Is it actually dead? Gold maybe? In terms of risk – everything seems a little risky at the moment. But one way of trying to accumulate more wealth has not changed, and will not change based on any market conditions.
Why is Sports Betting Becoming a Better Bet?
One reason sports betting is becoming more attractive to traditional investors is that the sports betting market will remain the same – the odds of one team winning vs another losing isn’t a factor of market fluctuations. Sure, currencies are now doing some flip flops, but on the whole, you know what you’re doing with odds. If you ask any gambling operator, gambling is recession proof. This has been the case through all the bear markets over the last 50 years. Will it be the case this time around? Smart money says yes, as history tends to repeat itself. Seasoned punter Bill Krackomberger has seen it all and believes that the relaxed status of sports betting and casino in the future will be a boon for the iGaming industry, He suggested using NoDepositRewards when looking for free no deposit bonus casinos 2022 to take advantage of the repeal of the UIGEA Act which had stalled any move of sports betting online.
Online Sports Betting
Sports betting is no longer something that your old man does down at the shop, or something you do on special sporting events. With your phone in your pocket, you can easily put a bet on any game, on thousands of sports and leagues all over the world. Even fantasy sports are getting a run. This means that even if you’re sitting in bed in Australia, you can put a bet on a game in the Premier League over in the UK, either before the match or as it is happening. With odds updated at a lightning pace and an ever-expanding list of betting types available to punters, it’s a no-brainer to be able to give it a go.
Treading carefully with your money
Being a winner time and again in sports betting is an art. While there are plenty of people who do sports betting for a living, it’s often due to an acute interest in the sport, studying of players, form, match ups, fields, etc. If you are interested in becoming truly great at picking winners, it’s time to get scientific about studying your sport of interest. If you already have a sport that you’re completely mad about – it’s time to pick one. It’s best to pick a sport that won’t interrupt your regular schedule, so one that runs in your time zone. Get to learn the rules, players, teams, fields, and history. There are an infinite amount of resources online and communities to get involved in to chat about your chosen game. While it takes a lot of dedication and you’re never guaranteed a win, you can become successful if you put your mind to it. There’s also the option to bet with fake money first until you get the hang of things.