The market analysis and insights included in the credible Sports Betting Market report presents key statistics on the market status of global and regional manufacturers and is an essential source of guidance which provides right direction to the companies and individuals interested in the industry. Analysis of upstream raw materials, downstream demand, and current market dynamics is also performed here. It also strategically analyses the growth trends and future prospects. This market research report uses a range of steps for collecting, recording, analysing and interpreting market data to make Sports Betting Market report all-inclusive.

Sports Betting Market analysis report provides market data even by considering new product development from beginning to launch. This report is a promising, excellent, pioneering, client-centric, and trustworthy which fulfils client’s business needs. The report provides strategically analyzed market research analysis and observant business insights into the most relevant markets of the clients. The high quality Sports Betting Marketing report comprises of the market drivers and restraints which are derived from SWOT analysis and also provides all the CAGR projections for the historic year 2021, base year 2022, and forecast period of 2023-2030.

Explore Further Details about This Research Sports Betting Market Report https://www.databridgemarketresearch.com/reports/global-sports-betting-market

Soccer, known as football in many regions, stands as the premier sport for global betting, boasting widespread popularity across Europe, South America, and key segments of Asia and Africa. Its immense appeal stems from diverse factors including broad international viewership, frequent match schedules, and a plethora of available betting markets. Major tournaments such as the FIFA World Cup, UEFA Champions League, and prestigious domestic leagues such as the English Premier League and La Liga serve as pivotal drivers for substantial betting engagement, offering lucrative opportunities for businesses operating in the sports betting industry.

Global sports betting market size was valued at USD 160.73 billion in 2023 and is projected to reach USD 325 billion by 2031, with a CAGR of 9.2% during the forecast period of 2024 to 2031. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.

Market Definition

Sports betting entails individuals placing wagers on the outcome of sporting events, spanning diverse disciplines such as football, basketball, and horse racing. Bettors predict event outcomes and place bets with bookmakers or via online platforms. Successful predictions yield payouts determined by preset odds, forming a dynamic market within the broader gambling industry, driven by consumer demand for entertainment and the allure of potential financial gains.

Drivers

  • Growing Popularity of Worldwide Sports Increases the Demand for Sports Betting

As more people engage with sporting events across the globe, the demand for wagering on outcomes increases. This trend is fueled by factors such as the widespread availability of worldwide sports coverage through television and digital platforms, the rise of fantasy sports leagues, and the integration of sports betting into mainstream culture. Furthermore, the globalization of sports has widened the pool of worldwide events available for betting, attracting a diverse range of enthusiasts. The symbiotic relationship between the popularity of worldwide sports and the sports betting market underscores a mutually beneficial dynamic, driving continuous growth and innovation within the industry.

  • Legalization of Sports Betting Fosters an Accessible Marketplace

With regulations in place, barriers to entry are lowered, allowing more operators to participate and compete. This increased accessibility attracts a broader customer base, including both seasoned bettors and newcomers. Moreover, legalization fosters consumer trust and confidence in the industry, leading to higher levels of engagement and participation. As a result, the market experiences heightened activity, driving growth in revenue, innovation, and market penetration. Legalization acts as a pivotal driver, discovering the full potential of the sports betting market.

Recent Developments

  • In December 2023, Betsson, a prominent player in the sports betting market, strategically collaborated with Racing Club de Avellaneda. This collaboration, set for the 2023/2024 season, involved Betsson's logo being displayed on the upper back of both men's and women's First Division football teams' shirts for local and international matches, starting May 19. This partnership serve as a strategic move to increase brand visibility and engagement within the sports industry, leveraging football's widespread popularity to attract new customers and expand market reach
  • In September 2023, Betsson secured a license to provide online sports betting in the regulated French market, in partnership with a local entity. The launch occurred in the fourth quarter of 2023, operating under the Betsson brand, expanding its reach into France's online betting landscape
  • In September 2022, Bet365 launched its e-sports betting service in Colorado under Century Casinos' state master license, tapping into the growing demand for electronic sports betting in the region, leveraging its partnership to access the market effectively
  • In September 2022, Entain Plc, in collaboration with Bally's Corporation, BetMGM, DraftKings FanDuel, and MGM Resorts International, announced a joint initiative promoting responsible gaming. This collective effort aims to enhance their global brand image by prioritizing and advocating for responsible gambling practices across their platforms
  • In May 2022, William Hill launched its flagship brand in Latvia, revealing strategies to significantly boost revenue in the region. Leveraging existing media partnerships, William Hill plans to create tailored content aligned with the Brotherhood brand strategy, aiming to strengthen its market presence and engagement in Latvia's betting and online casino industry

Sports Betting Market Scope

The market is segmented on the basis of type, platform, operator, sports, and age group. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.

Type

  • Line-In-Play
  • Fixed Old Betting
  • Exchange Betting
  • Daily Fantasy
  • Spread Betting
  • E-Sports
  • Pari Mutuel
  • Others

Platform

  • Online
  • Offline

Sports

  • Racing
  • Non Racing Sports

Operator

  • Food Grade
  • Casinos
  • Bingo Halls
  • Card Rooms
  • Bookmakers
  • Coin-Operated Gambling Device
  • Concession Operators
  • Video Gaming Terminals
  • Lotteries Operator
  • Off-Track Sports Betting
  • Others

Age Group

  • Gen Z
  • Gen Y/Millennials
  • Gen X
  • Baby Boomers

Some of the major players operating in the market are:

  • BETSSON AB (Sweden)
  • Fortuna Entertainment Group (Czech Republic)
  • Las Vegas Sands Corp (U.S.)
  • bet365 (U.K.)
  • Flutter Entertainment plc (Ireland)
  • 888 Holdings Plc (U.K.)
  • Entain (U.K.)
  • Kindred Group plc (Sweden)
  • MGM Resorts International (U.S.)
  • Wynn Resorts Holdings (U.S.)
  • NOVIBET (Greece)
  • Galaxy Entertainment Group Limited (Hong Kong)
  • Sun International (South Africa)
  • RTSmunity a.s. (Slovakia)
  • Sky Infotech. (India)
  • Peermont Global Proprietary Limited (South Africa)
  • SJM Holdings Limited (Macau)
  • Sportradar AG (Switzerland)
  • FanUp Inc. (U.S.)
  • Rivalry Ltd. (Canada)
  • EveryMatrix (Malta)
  • Kairos Group (U.K.)
  • BETAMERICA (U.S.)
  • Scientific Game (U.S.)
  • ComeOn Group (Malta)

Get a Sample PDF of Sports Betting Market Research @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-sports-betting-market

Radical conclusions of the report:

  • Industry overview with a futuristic perspective
  • Analysis of production costs and analysis of the industrial chain
  • Full regional analysis
  • Benchmarking the competitive landscape
  • Global Sports Betting Marketgrowth trends; current and emerging
  • Technological developments and products
  • Comprehensive coverage of market factors, restraints, opportunities, threats, limitations, and outlook for the Market
  • SWOT Analysis, Porter's Five Forces Analysis, Feasibility Analysis, and ROI Analysis

Why choose Data Bridge Market Research?

  • Modern technologies, such as artificial intelligence, to provide updated industry growth.
  • DBMR team provides clients with the top notch Sports Betting Market research report.
  • Interaction with research scientists and development heads to understand the nature of the Sports Betting Market more precisely.
  • 24/7 availability of services.
  • Data collection from implementation vendors, service providers, and raw material suppliers to provide a clear perspective with Forecast period.

DBMR team uses very fair means to gather information that is scrutinized at every stage while structuring an influential Sports Betting Market size

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