Press release
U.S. Sports Betting Market Projected to Reach US$ 32.63 Billion by 2032, Driven by a 10.2% CAGR
U.S. Sports Betting Market
Market Introduction:
Sports betting is the most popular form of gamble as it taps into the passion of sports fans. A bet made on a race or a game permits fans to demonstrate their comprehension of a sport or exhibit their support for a specific team or a contender. Further, to encourage fellowship amongst friends, sports betting can brighten up otherwise mundane contests.
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Betting on tournaments of several sports often utilizes a system known as a point spread. Bookmakers decide the aggregate of points that will be of use to a specific match. A wager on the approved team needs that the better give the point spread. A bet on the underdoh team grants the bettor the point spread.
What Are Key Drivers of Market?
Renewed Popularity of Sports Betting: The growing acceptance and approval of sports betting among Americans can be attributed to several interconnected elements. There has been a significant shift in societal perspectives towards sports betting, with many now viewing it as a form of entertainment and leisure rather than something taboo. The change in the perception has been additionally eased by the gradual legalization of sports betting, indicating the progress of the U.S. sports betting market.
Growing Media Participation: The extensive media coverage of sports events, involving debates on varying forecasts, has helped familiarize the public with sports betting, making it more accessible and appealing. Additionally, the emergence of online betting platforms and mobile betting apps has made sports betting easier for Americans.
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Which Are Major Companies in Market?
Many market contenders are focusing on the advancement of appealing websites while providing several unique deals. Key companies are mentioned below:
• Bet America
• Caesars
• clutchbet.
• Desert Diamod Sports
• Draft Kings
• Fanduel
• Fanatics
• Fanduel
• TVG
• Twinspires
What Are Key Segments Covered in Report?
The U.S. sports betting market segmentation is based on platform, type, sports, and application.
Based on platform, the online segment held the largest market share owing to the growing existence and availability of internet-fueled gadgets such as smartphones, tablets and computers, which has rendered online sports betting easier and widely open to consumers.
Based on sports, the football segment is expected to witness significant market growth during the forecast period owing to its extensive fan base and alluring sizeable recognition from bettors.
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Recent Developments
• March 2023: Entain, a leading company in sports betting, gaming, and interactive entertainment, announced that its unikrn brand-one of the most comprehensive esports betting platforms-has entered into a multi-year global partnership with BLAST, a prominent esports entertainment company.
Table of Contents:
4. U.S. Sports Betting Market Insights
4.1. U.S. Sports Betting Market - Industry Snapshot
4.2. U.S. Sports Betting Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Sports betting is becoming more socially acceptable and popular among Americans, leading to a surge in demand for betting services and platforms
4.2.1.2. Increasing use of internet have dominated the market.
4.2.2. Restraints and Challenges
4.2.2.1. The demand for U.S. sports betting is regulatory restrictions or limitations in certain states are expected to hinder the growth of the market.
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTLE Analysis
4.5. U.S. Sports Betting Industry trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. U.S. Sports Betting Market, by Platform
5.1. Key Findings
5.2. Introduction
5.2.1. U.S. Sports Betting, by Platform, 2019-2032 (USD Billion)
5.3. Online
5.3.1. U.S. Sports Betting Market, by Online, 2019-2032 (USD Billion)
5.4. Offline
5.4.1. U.S. Sports Betting Market, by Offline, 2019-2032 (USD Billion)
6. U.S. Sports Betting Market, by Application
6.1. Key Findings
6.2. Introduction
6.2.1. U.S. Sports Betting Market, by Application, 2019-2032 (USD Billion)
6.3. Draw games
6.3.1. U.S. Sports Betting Market, by Draw games, 2019-2032 (USD Billion)
6.4. Instant games
6.4.1. U.S. Sports Betting Market, by Instant games, 2019-2032 (USD Billion)
6.5. Lotto
6.5.1. U.S. Sports Betting Market, by Lotto, 2019-2032 (USD Billion)
6.6. Number games
6.6.1. U.S. Sports Betting Market, by Number games, 2019-2032 (USD Billion)
6.7. Others
6.7.1. U.S. Sports Betting Market, by Others, 2019-2032 (USD Billion)
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