Ireland, like most countries, is currently in the midst of a gambling boom, writes sportsbook specialist Siobhan Aslett.
Advertorial by Irishluck
Whereas some industries across the world are struggling, gambling businesses are thriving. At the end of 2023, the worldwide gambling industry was estimated to be worth $540 billion, and that number is only set to grow further this year.
Gambling and betting on sports can be an exceptionally fun pastime and there are very few things that can compare to the thrill of landing a bet. It is believed that currently, one in seven Irish adults will place some form of bet in 2024, and with gambling becoming more popular, social scrutiny is gradually declining. With the future of the Irish gambling landscape looking slightly unclear, many are fearful of the direction that the Irish gambling industry is heading in.
In my career, I have been fortunate to see both the positives and negatives of the impact that gambling has had on Irish society. With the current gambling boom showing no signs of slowing, we’ll use this article to take a look at some of the major social challenges that will need to be addressed over the next few years in order to keep the public perception of the Irish sports betting industry positive.
The long-standing deep relationship between Irish sports and gambling
Sports make up a huge part of the Irish identity. Betting on horse racing began in the 1800s, and a typical Irish weekend is often dominated by Gaelic sports, football, and rugby—both home and abroad. In recent years, the number of sports that the public can now consume has substantially grown, which has opened the door for a larger number of bets to be placed.
The rise of television coverage and the wide availability of satellite TV has seen a vast realignment in how sports are broadcast. Twenty years ago, an Irish gambler may only have had the opportunity to place bets at the weekend, however, sports like football now offer markets and competitions almost every day of the year.
Betting has always played a part in the Irish social makeup, but the increased levels of TV coverage and the sheer volume of sports that can now be bet on have greatly accelerated the frequency and number of bets being placed.
Whilst gambling companies can’t control when and where matches are played, they can be sensitive to the number of markets on offer and decide if providing markets for obscure leagues on the other side of the world is the most responsible thing that could be done. In order to keep gambling fun, this is an area that needs to be consistently monitored.
The rise of safer gambling tools and career opportunities shows the value of sports betting
The sports betting market in Ireland is set to be worth €360 million by the end of 2029. Whilst some of the country’s best sportsbooks are enjoying record revenues, gambling companies do understand the need to ensure that gambling is always kept fun.
In recent years, there have been tremendous amounts of investment in the advertising of safer gambling tools, and customers are now inherently aware of the types of restrictions that can be placed on a sports betting account. Deposit limits, time-outs, account freezing, and the ability to track profit and losses are all vital and simple tools that can be applied instantly.
Most sites now also run 24-hour customer support services, which should mean that if a problem arises, sports bettors can usually get any queries resolved at any time of the day. For centuries, gambling has been an exceptionally fun pastime in Ireland, and the hope is that this will continue far into the future. The increased use of safer gambling tools should hopefully enable this.
With Irish horses dominating the biggest races on the planet, Irish football stars thriving in the Premier League, and popular GAA sports reaching new audiences, Irish sports are some of the most popular to bet on.
As the Irish sports betting scene continues to grow, so do employment opportunities. It’s estimated that currently, 7,000 people are directly employed by sports betting companies, and this employment network is only set to increase as the industry continues to expand. Offering opportunities for all, the sports betting community is playing a vital role in helping people find and progress in their careers, as well as providing vital revenues back to the Government via profits and levies.
The ease of online gambling and lack of regulations have been problematic
The main trigger behind the sports betting and gambling boom across the world has been the rise of online gambling sites. Performing a simple Google search presents thousands of different online casinos and sportsbooks, with nearly all of these containing some form of welcome bonuses that are usually hugely attractive.
Whereas some of the best sports betting sites in our industry are heavily regulated and run their operations in a completely legal way, there are hundreds of lesser-known gambling sites that have dubious licensing and regulations.
The rise of sports betting sites and the lack of pertinent regulations can be hugely problematic for portions of the Irish betting public. Increased regulation rules on some of the Irish powerhouses in the betting industry mean that when a new customer signs up, identity documents need to be provided. These steps ensure that only customers who are over 18 can register to gamble, and these major gambling companies now have the ability to perform soft credit checks to ensure that any new members can afford to gamble on their sites.
These checks are a huge step in the right direction to try and curb the rise of problem gambling, but the majority of these unregulated sites don’t follow the same rules. Therefore, if a sports bettor has been turned away from one of Ireland’s mainstream betting sites because they fell foul of one of the regulatory checks that the major sites perform, there is a chance that these gamblers might still be able to gamble elsewhere. New stricter laws that the Irish Government wants to impose should hopefully stop the rise of these sites firmly in their tracks.
A change in gambling marketing rules may be required
If you ever want to get a quick sense of how profitable Irish gambling companies are, you need look no further than the number of betting adverts that are currently broadcast across TV and radio. Daytime television is awash with different bingo and sports betting adverts, and whenever there is a major sporting event on, you can be assured that gambling adverts will be playing a key role in the advertising landscape that surrounds them.
Over the years, gambling adverts have taken on a life of their own. Often quirky and funny in nature, gambling is promoted as glamorous, and the images and words associated with it can be removed from the realities that gambling can sometimes provide.
As mentioned above, a new Irish Gambling bill is currently in the process of going through its final stages, which will ensure that between the hours of 05:30 and 21:00, all gambling ads on TV and radio will be effectively outlawed.
The hope is that the introduction of gambling communications only being broadcast after 21:00 will reduce the impact that gambling advertisements can have on young and vulnerable people.
Irish law has already restricted the use of sports betting adverts on social media, and there is a huge hope that the passing of this new gambling law will limit the impact gambling can sometimes have on society’s most vulnerable and keep the Irish gambling scene positive.
What does the future look like for the Irish gambling industry?
Although there are some who have concerns with how quickly the Irish gambling industry is growing, sports betting in Ireland is here to stay, and by no means should those who choose to gamble be persecuted for doing so.
Whilst some may point to the rise of Irish gamblers and the potentially negative social impact it may have, the recent shift in proposed gambling advertising laws, the implementation of safer gambling tools, and the gradual clampdown of sites that operate illegally are all significant steps in ensuring that those wanting to get involved can do so in a fun and safe way.
The boom currently propelling Irish gambling to new heights is showing no signs of stopping, and the enjoyment that betting on sports provides should always remain high. The barriers to new participants wanting to place a bet should always be low.
As society continues to adapt to the rise of gambling, the hope is that all those within the betting community will be able to benefit from the many steps that the gambling companies and the Irish Government are trying to implement.
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Advertorial by Irishluck 