The latest research study “Sports Betting Market Share, Size, Growth, Opportunity and Forecast 2022-2027,” that the global sports betting market is expected to exhibit a CAGR of 10.47% during 2022-2027.
Sports betting represents a type of gambling activity that entails making predictions regarding sports outcomes and then placing a wager on them. This allows fans to showcase their allegiance or expertise to a specific competitor. Furthermore, sports gambling is more common in some cultures as compared to others, with the most popular leagues being boxing, track cycling, basketball, baseball, football, etc. Bettors with in-depth knowledge of athletes are more likely to make consistent profits. Several online sports betting organizations are collaborating with various teams to expand their consumer base.
Covid-19 Scenario:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Competitive Scenario with Key Players:
The competitive landscape of the market has also been analyzed, with some of the key players being
- 888 Holdings PLC,
- Bet365 Group Ltd.,
- Bet-at-home.com AG (BetClic Everest Group S.A.S.),
- Betfred, Betsson,
- DraftKings Inc., Entain plc,
- Flutter Entertainment plc,
- International Game Technology PLC,
- Kindred Group plc, Sportech PLC
- TwinSpires (Churchill Downs Incorporated)
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Sports Betting Market Trends and Drivers:
The growing penetration of smartphones is primarily driving the sports betting market. Additionally, the increasing inclination among bettors towards virtual currencies, including ripple, bitcoin, dogecoin, etc., for attaining ease of transaction and the rising utilization of wireless connectivity are also stimulating the market growth. Besides this, the emerging trend of digitalization across the sports industry and the widespread adoption of user-friendly betting apps are acting as significant growth-inducing factors.
Moreover, the launch of numerous favorable policies by government bodies across the globe to legalize sports betting activities is bolstering the market growth. Apart from this, the introduction of cutting-edge machine learning (ML) algorithms that are used for predicting the outcomes of games is projected to fuel the sports betting market in the coming years.
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Global Sports Betting Market Report Coverage and Industry Segmentation:
The report cover the below key market segments:
Market Breakup by Platform:
- Offline
- Online
Market Breakup by Betting Type:
- Fixed Odds Wagering
- Exchange Betting
- Live/In Play Betting
- Pari-Mutuel
- eSports Betting
- Others
Market Breakup by Sports Type:
- Football
- Basketball
- Baseball
- Horse Racing
- Cricket
- Hockey
- Others
Market Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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