Global banking operator Paysafe has provided evidence on the potential future for the gambling industry with the release of a new report on the impact of 5G technology. The report came out earlier this week and focused mainly on the major betting markets of the UK, Germany and the US.
According to the data gathered by Paysafe, 18% of people surveyed in those three gambling markets said that 5G technology could lead to them gambling on live events more frequently, while 42% of those who say that they are already regular gamblers, predict that they will be involved in live betting more frequently once 5G technology becomes widespread.
The report also suggests that players will bet on a wider range of sports using 5G, with as many as 21% of those surveyed saying they would diversify their betting.
One significant cloud on the horizon for 5G betting and in-play wagering is the potential reform of the gambling advertisement framework governing in-play gambling in Germany. Currently, in-play betting makes up more than 60% of the country’s betting market, but if there was a ban on whistle-to-whistle advertising, this could lead to betting brands downgrading their in-play markets.
As well as the projected increase in the live betting market, the report also predicts that there will be a significant increase in mobile betting. Across all three markets, existing gamblers said that they were more likely to bet using their mobiles using 5G.
Speaking about the findings, Paysafe’s Chief Business Development Officer, Daniel Kornitzer, said that 5G had the potential to prove extremely popular with online gamblers and that there was a considerable appetite for the technology, but he warned operators that they had to prepare:
“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.”