Press release
United States Sports Betting Market to Worth US$ 15.9 Billion by 2028 | With a Striking 13.2% CAGR - IMARC Group
United States Sports Betting Market Report 2023
Report Highlights
How big is the United States sports betting market?
The United States sports betting market size reached US$ 7.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 15.9 Billion by 2028, exhibiting a growth rate (CAGR) of 13.2% during 2023-2028.
What is sports betting?
Sports betting is a form of betting where individuals place wagers on the outcomes of sporting events. It involves predicting the results of various sports, such as football, basketball, and horse racing. Sportsbooks, either physical locations or online platforms, facilitate these bets and offer odds that reflect the perceived likelihood of specific outcomes. Bets can range from simple ones like predicting the winner of a game to more complex propositions involving point spreads or over/under totals. In recent years, sports betting has gained immense traction as entertainment and a multi-billion-dollar industry, attracting enthusiasts and professional gamblers across the United States while raising ethical and regulatory considerations.
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What are the growth prospects and trends in the United States sports betting industry?
The United States sports betting market is primarily driven by the rapid expansion of legalized sports betting in multiple states due to changing regulations. Moreover, the widespread popularity of sports and the integration of online and mobile betting platforms that make it more convenient for individuals to participate is positively influencing market growth. Apart from this, the rising partnerships between sports leagues, teams, and betting operators that enhance the overall sports betting experience are propelling market growth. Additionally, the increasing acceptance of sports betting as entertainment and the potential for revenue generation has catalyzed market growth. Furthermore, numerous technological advancements in data analytics and in-game betting options that enhance the overall sports betting experience are contributing to market growth.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Platform:
Offline
Online
Breakup by Betting Type:
Fixed Odds Wagering
Exchange Betting
Live/In Play Betting
Pari-Mutuel
eSports Betting
Others
Breakup by Sports Type:
Football
Basketball
Baseball
Horse Racing
Cricket
Hockey
Others
Breakup by Region:
Northeast
Midwest
South
West
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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