According to the research report, the global sports betting market size & share was valued at USD 70.23 Billion in 2021 and is expected to reach USD 178.68 Billion by 2030, to grow at a CAGR of 11.7% during the forecast period.
One of the most sought-after forms of gambling is betting on sports that percolate sports fans' dedication. A bet placed on a game permits fans to demonstrate their know-how of a sport and display their loyalty to a specific competitor or team. Further than encouraging fellowship amongst friends, sports betting can invigorate contests that are either one-sided or boring when restricting systems in offering odds and points proliferation raises the stake of the better in the competition. Albeit legal sports betting is progressively habitual, most betting on the match that is athletic is illegal and is managed by bookmakers and internet gambling operations.
The majority of betters presume that athletes in the competition give in all their efforts. Even the most minor symptom that the athletes are unethical for financial gains can irredeemably harm the sport. The rising popularity of sports in the 19th century fears that betting would manipulate the games. The types of sports betting are carried out in casinos, football matches, ice hockey and soccer, pools, and fantasy leagues. The spread of the media gamut of sports and an array of information services prevalent offers gamblers a sense of confidence and control that inspires them to bet.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Important Questions Being Answered by The Market Report
- What is the market size and growth?
- What is the CAGR of the sports betting market?
- What are the segments enveloped in the sports betting market report?
- Who are the key players?
- Which region is more alluring for vendors?
- What are the significant markets for sports betting?
Top Market Players Are:
- 888 Holdings
- Amaya gaming
- Bet365 Group
- BetAmerica
- Bet-at-home.com
- Betfred
- Betsson
- Draft Kings
- Fan duel
- Gala Coral Group
- GVC Holdings
- Kindred Group
- Ladbrokes
- Paddy Power Betfair
- Sportech
- TVG
- Twinspires
- Watch and Wage
- William Hill
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Sports betting market: Growth leading factors
As a form of gambling, sports betting includes focussing on a bet on a result of a specific sporting event. People bet on sports to earn extra money depending on two possible outcomes. Recently, sports betting has become more appropriate as people can now bet on several sports while traveling or at their homes. This convenience is further bringing on increased betting globally.
The evolution of digital infrastructure globally behaves as one of the prominent factors pushing the growth of the sports betting market. The change in the aggregate of sports events and leagues globally and the increase in demand for sports betting among older people and millennials hasten the growth of the market. The acquisition of instant message services and video streaming and alteration in an official landscape in the comprehensive gambling industry will further impact the market. Additionally, the evolution of distribution channels, increase in buying power of middle-income groups, growth in the awareness of the products, and intelligent strategic marketing activities positively influence the sports betting market.
The covid-19 pandemic accelerated the calling off of sports events which lessened opportunities for sports betting. But the sports betting industry is anticipated to monitor lesser financial destruction than other sectors. As a consequence of the lockdown of land-based betting facilities, many customers switched to online betting platforms.
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Sports betting market: Report Scope
| Report Attribute | Details |
| Market Size 2021 Value | USD 70.23 billion |
| Market Outlook for 2030 | USD 178.68 billion |
| Expected CAGR Growth | 11.7% from 2022 - 2030 |
| Base year | 2021 |
| Forecast period | 2022 - 2030 |
| Segments covered | By Platform, By Type, By Sports, By Application, By Region |
| Key Companies | 888 Holdings, Amaya gaming, Bet365 Group, BetAmerica, Bet-at-home.com, Betfred, Betsson, Draft Kings, Fan duel, Gala Coral Group, GVC Holdings, Kindred Group, Ladbrokes, Paddy Power Betfair, Sportech, TVG, Twinspires, Watch and Wage, and William Hill. |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Customization Options | Customized purchase options are available to meet your research needs. |
Sports betting market: Key segmentation
- Insight by platform, type, sports, application, and region
By platform, the development of the online betting segment has the largest share of revenue due to the reach of smartphones and devices connected globally. BY type, the fixed odds wagering dominated the revenue share because of the familiarity of this betting among people that bet on sports like football, baseball, basketball, and horse racing. In sports, the football segment will dominate the share due to the popularity of the game and expansive fan base globally for players like Lionel Messi, Cristiano Ronaldo, Neymar, and Robert Lewandowski. By application, the web-based segment rules the revenue share in which more and more people are participating as spectators or competitors.
By region, Europe has emerged as a dominant region for this market which can be owed to safety laws and regulations for online and offline betting. Additionally, countries like Germany and UK are well acquainted with popular sports like football and horse racing. The Asia Pacific is also a region with a high revenue share. Elements like the increasing number of people betting on sports events like hockey, football, cricket, and basketball are driving the market in this region. Additionally, the legitimization of sports betting across countries like Australia and India and factors like growing income levels and internet penetration of middle-class families are distinctly fuelling the market growth in the region.
Browse the full “Sports Betting Market Share, Size, Trends, Industry Analysis Report, By Type (Fixed Odds Wagering, Exchange Betting, Live/In-Play Betting, Pari-Mutuel, E-sports Betting, Others), By Platform; By Sports; By Application; By Region; Segment Forecast, 2022 - 2030” Report at https://www.polarismarketresearch.com/industry-analysis/sports-betting-market
The market primarily depends on the platform, type, sports, application, and region
Sports betting market: By platform
- Online
- Offline
Sports betting market: By type
- Fixed Odds Wagering
- Exchange Betting
- Live/In-Play Betting
- Pari-mutuel
- E-sports Betting
- Others
Sports betting market: By sports
- Football
- Basketball
- Baseball
- Horse Racing
- Cricket
- Hockey
- Others
Sports betting market: By application
- Draw games
- Instant games
- Lotto
- Number games
- Others
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