Sports Betting Market Size Study, By Type, Application and Regional Forecasts 2029

Sports Betting Market size was valued at US$ 155.29 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 8.84% through 2023 to 2029, reaching nearly US$ 280.97 Bn.

Report Scope:

The "Global Sports Betting Market" has reached unprecedented heights, recording a valuation of US$ 155.29 billion in 2022. The market is projected to exhibit robust growth with a Compound Annual Growth Rate (CAGR) of 8.84% through the years 2023 to 2029, ultimately surging to nearly US$ 280.97 billion. This press release encapsulates key insights, market values, research methodology, drivers, restraints, and regional dynamics for a comprehensive market research overview.

Overview:

The Global Sports Betting Market is a dynamic arena where sports enthusiasts wager on a variety of sporting events, encompassing a wide array of sports, including association football, American football, basketball, baseball, hockey, and more. Additionally, non-athletic events like reality show competitions and political elections, along with non-human contests like horse racing, greyhound racing, and other events, are open for betting. The flexibility and diversity of sports betting cater to a vast spectrum of consumer interests.

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Market Dynamics:

The sports betting landscape is undergoing a transformation as it increasingly contributes to the economies of several countries. As regulatory bodies evolve their stance on sports betting, it is shedding its previous connotations of illegitimacy. The widespread adoption of smartphones, coupled with the popularity of video streaming and instant messaging services, has given impetus to online sports betting via mobile devices, making it a booming sector. The ever-growing penetration of Internet-based devices, such as smartphones and tablets, encourages users to engage in online betting activities, having minimal interference with their daily routines.

The pivotal role played by smartphones is expected to be instrumental in driving the adoption of sports betting among end-users in the forecast period. Furthermore, the application of 5G networks is poised to enhance smartphone-based betting, contributing to the rapid growth of the sports betting market.

Sports Betting Market Segment Analysis

Platform: The online platform is poised to take the lead, with a market share of xx% by 2029. Accelerated Internet speeds and the high compatibility of mobile devices have led to an increased demand for real-time sports streaming. This is expected to drive a transition toward online sports streaming via mobile devices, elevating the sports betting market. The proliferation of online betting platforms, driven by user preferences, encourages key players to develop innovative online betting applications with attractive participation offers, expanding their presence in the global sports betting market.

by Game Type

Football
Base ball
Basket ball
Hockey
Cricket
Tennis
Golf
Boxing
Auto racing
Horse racing
Other

Game Type: The football segment is set to experience rapid growth, with a CAGR of 12% throughout the forecast period. The secure and reliable services offered by online football betting companies are key drivers for the segment's expansion in the Global Sports Betting Market.

by Type Analysis

Line-in-play
Fixed Old Betting
Exchange Betting
Daily Fantasy
Spread Betting
E-Sports
Pari-Mutuel
Others

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Who are Sports Betting Market Key Players?

1.Bet 365 Group Ltd.
2. GVC Holding plc.
3. The Stars Group
4. Paddy Power Betfair plc.
5. William Hill plc.
6.Fortuna Entertainment Group
7. Betfred Ltd.
8. mybet Holding
9. Hong Kong Jockey Club
10. Kindred Group.
11. 888 Holdings
12. Kindred Group
13. Amaya gaming Bet-at-home.com
14. BetAmerica
15. Betsson
16. Draft Kings
17. Fan duel
18. Gala coral group
19. Ladbrokes
20. Sportech
21. TVG
22. Twinspires

Table of content for the Sports Betting Market includes:

Part 01: Executive Summary

Part 02: Scope of the Sports Betting Market Report

Part 03: Sports Betting Market Landscape

Part 04: Sports Betting Market Sizing

Part 05: Sports Betting Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Sports Betting Market Regional Insights:

Europe: Europe dominates the Global Sports Betting Market from 2023 to 2029. With a growth rate of 48.6%, Europe is anticipated to claim the largest market share (xx%) by 2029. The region's burgeoning enthusiasm for sports, fueled by popular sporting events and the latest gaming trends, provides a fertile ground for gaming and betting sectors to thrive.

North America: North America is projected to grow rapidly, exhibiting a CAGR of 15.8% during the forecast period. The surge in online sports betting popularity among the younger demographic is a significant growth catalyst for the region.

Asia Pacific: Expected to witness substantial growth with a CAGR of xx%, thanks to improved economic conditions, rising disposable incomes, and an increased interest in activities such as sports betting.

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This release was published on openPR.