Online Sports Betting Market 2023 Driving Factors Forecast Research 2029

Online sports betting market is anticipated to grow at a CAGR of 12.5% during the forecast period. The market growth is attributed to factors such as the growing internet penetration and rise in the use of mobile phones among users for playing online games. According to USAFacts In June 2021, the data showed that 99.2% of Americans had access to at least one high-speed internet provider. About 97% had access to at least three internet providers. Additionally, industry expansion is aided by societal and legalization acceptance, simple access to online gaming, celebrity endorsements, and corporate sponsorships. The market is also expanding due to the increasing use of smartphones with the 5G internet technologies. For instance, the Entain Plc. subsidiary BetMGM teamed with NBC Sports in September 2022 to give weekly integrations on 2022 NFL season highlights on Football Night in America and other content across all of NBC Sports' platforms. Artificial intelligence (AI), machine learning (ML), and augmented reality (AR) are features of contemporary smartphones that aid programmers in developing immersive and interactive betting applications.

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The global online sports betting market is segmented based on the type, device, and sports type. Based on the type, the market is sub-segmented into line-in-play, fixed old betting, daily fantasy, e-sports, exchange betting, and others. Based on devices, the market is bifurcated into desktop and mobile. Based on sports type, the market is sub-segmented into football, cricket, tennis, and others. Among the type, the line-in-play sub-segment is anticipated to hold a considerable share of the market, owing to the ease of implementation and bet during the progression of a game. That means, the betting will start when the game starts and it ends when the game ends.

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Global Online Sports Betting Market Report Segment
By Type
• Line-In-Play
• Fixed Old Betting
• Daily Fantasy
• E-Sports
• Exchange Betting
• Others (Spread Betting, Pari Mutuel betting)

By Sports Type
• Football
• Cricket
• Tennis
• Others (Basketball, Hockey, Baseball)

By Device
• Desktop
• Mobile

Global Online Sports Betting Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa

The Report Covers
• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global online sports betting market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.

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