Sports Betting Market is set to Exceed Valuation of USD 220.05 billion at a Potential Compound Annual Growth Rate of 11.0% by 2032

The Global Sports Betting Market report aims to provide readers with a comprehensive understanding of the business landscape, including its foundation, product types, and key operational details such as sales and production patterns. This report analyses the market size, industry share, key growth drivers, major segments, and the compound annual growth rate (CAGR). It offers valuable insights for both established and emerging market players to help them define business strategies and achieve both short-term and long-term objectives. The report focuses on Sports Betting market growth by examining key product segments and geographic areas where market participants should invest, consolidate, expand, or diversify. It provides a thorough analysis of the market at both global and regional levels, highlighting significant changes in market dynamics and the competitive landscape. Segmentation is offered based on type, application, geography, and other relevant factors. The Sports Betting research report also outlines the key business strategies employed by major market players, along with size, share, trends, and growth analysis, delivering a well-rounded perspective of the market's present and future outlook.

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The global sports betting market was valued at USD 85.41 billion in 2023 and is estimated to reach approximately USD 220.05 billion by 2032, at a CAGR of 11.0% from 2024 to 2032.

Market Definition

People bet on the results of athletic events in the vibrant sports betting market. Online platforms have transformed accessibility and enabled worldwide engagement, driven by technological developments. To generate well-informed forecasts, bettors examine odds, team performance, and statistics. Because of the thrill of placing bets on sports like basketball, football, and horse racing, this market has expanded quickly. Its reach has been further increased by changes in regulations and the emergence of mobile betting apps. In a diverse and dynamic entertainment scene, the sports betting business is always changing and offers chances for investors as well as enthusiasts.

Competitive Landscape and Global Sports Betting Market Share Analysis

In the global sports betting market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Key players operating in the Global Sports Betting Market include:

· 888 Holdings Plc

· Bet365

· Betsson AB

· Churchill Downs Incorporated

· Entain plc

· Flutter Entertainment Plc

· IGT

· Kindred Group Plc

· Sportech Plc

· William Hill Plc, and various others.

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Sports Betting Market Recent Developments

In August 2023, Penn Entertainment's betting app will be rebranded by Disney-owned ESPN, which will grant it exclusive rights to use the ESPN moniker. The sports broadcaster has pledged to promote the ESPN Bet app on its online and broadcast platforms, and Penn will run the app. Penn's rights are ten years long now, with the possibility of a further ten years. Apart from the licensing price of $1.5 billion, Penn will also provide ESPN the ability to acquire shares in the company for around $500 million.

In September 2022, The world-renowned sports and entertainment company Endeavor Group Holdings, Inc., also known as "Endeavor," closed the previously announced acquisition of OpenBet, a top platform, content, and service provider to the sports betting industry, from Light & Wonder, Inc., for an estimated $800 million, which was paid for with a combination of cash and shares of Endeavor's Class A common stock.

Sports Betting Market Scope

By Type

· Fixed Odds Wagering

· Exchange Betting

· Live/In-Play Betting

· Pari-Mutuel

· E-sports Betting

· Others

By Platform

· Online

· Offline

· By Application Draw games

· Instant games

· Lotto

· Number games

· Others

By Sports

· Football

· Basketball

· Baseball

· Horse Racing

· Cricket

· Hockey

· Others

By Geography

· North America (USA, and Canada)

· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)

· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

· Latin America (Brazil, Mexico, and Rest of Latin America)

· Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

How does the Report Aids Your Business Decision?

· This section of this Market report highlights some of the most relevant factors and growth enablers that collectively ensure a high-end growth spurt

· The report unravels details on pronounced share assessments across both country-wise as well as region-based segments

· A leading synopsis of market share analysis of dynamic players inclusive of high-end industry veterans

· New player entry analysis and their scope of new business models

· The report includes strategic recommendations for new business veterans as well as established players seeking novel growth avenues

· A detailed consultation services based on historical as well as current timelines to ensure feasible forecast predictions

· A thorough evaluation and detailed study of various segments as well as sub-segments across regional and country-specific developments

· Details on market estimations, market size, dimensions and the like

· A review of market competitors, their high-end product and service portfolios, dynamic trends, as well as technological advances that portray high end growth in this Market

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