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Europe Sports Betting Market Estimated To Grow at a CAGR of 9.21% by 2028 | IMARC Group
Europe Sports Betting Market
How big is the Europe Sports Betting Market?
The Europe sports betting market is projected to exhibit a growth rate (CAGR) of 9.21% during 2023-2028.
What is Sports Betting?
Sports betting involves individuals placing bets on the outcomes of sporting events, predicting the results of games, matches, or races, and wagering money based on those predictions. It spans across a variety of sports, including football, basketball, and horse racing. Beyond predicting outcomes, sports betting offers diverse betting markets, enhancing the excitement and engagement of sporting events. This activity not only adds enjoyment to watching sports but also provides an opportunity for bettors to profit by making well-informed decisions and effectively managing their betting funds. With its emphasis on research, analysis, and strategic decision-making, sports betting is considered a game of skill rather than mere chance.
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Europe Sports Betting Market Trends and Drivers:
The surging interest in sports among Europe's millennial population, coupled with the digitization of betting platforms, stands out as a key driver positively impacting the market. Furthermore, the widespread availability of high-speed internet and the proliferation of smartphones throughout Europe are facilitating convenient betting on a diverse range of sports such as cricket, tennis, and horse racing. In addition to this, regulatory bodies in numerous European countries are actively working to create a safer and more transparent environment for both operators and bettors. The market is further bolstered by strategic partnerships between sports betting companies and sports leagues or teams, contributing to exposure, branding opportunities, and an enhanced sports experience for fans. The growing trend towards in-play or live betting is also contributing to a favorable market outlook. Additionally, the integration of live streaming services on betting platforms allows users to watch the games they bet on, thereby increasing engagement and retention. Moreover, the market is benefiting from the rise of cryptocurrency and blockchain technology. Some operators are embracing digital currencies as a secure and anonymous means of payment, further propelling market growth. The increasing use of sophisticated algorithms for analyzing extensive data sets enables bookmakers to offer more precise odds and personalized betting options, contributing to the market's overall expansion.
Europe Sports Betting Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are:
• Cake 0 Emission AB
• Energica Motor Company S.p.A. (Ideanomics Inc.)
• KTM North America Inc. (KTM Sportmotorcycle GmbH)
• Lightning Motors Corporation
• Razor USA LLC
• Segway Inc.
• Zero Motorcycles Inc., etc.
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The report segmented the market on the basis of region, platform, betting type, and sports type.
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 Country:
• Germany
• France
• United Kingdom
• Italy
• Spain
• Others
Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• 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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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'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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