Global Sports Betting Industry Over $144 Billion to 2031 – Identifying Growth Segments for Investment – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “Global Sports Betting Market Report 2022” report has been added to from ResearchAndMarkets.com offer.

This report provides strategists, marketers, and senior management with the critical information they need to assess the global sports betting market.

The global sports betting market is expected to grow from $89.65 billion in 2021 to $99.20 billion in 2022 at a compound annual growth rate (CAGR) of 10.64%. The sports betting market is expected to reach $144.34 billion in 2026 with a CAGR of 9.83%.

Companies cited

  • 888 Holdings Plc.

  • bet365

  • Betsson AB

  • Churchill Downs Inc.

  • Flutter Entertainment Plc.

  • Kindred Group Plc.

  • Sportech Plc.

  • William Hill

  • DraftKings

  • The Stars Group Inc.

  • BetAmerica

  • Webis Holdings Plc.

  • Gala Coral

  • Bet at home

  • FanDuel

  • bet fred

  • Ladbrokes

  • Entain plc.

  • IGT

  • TVG

  • Twinspires

  • watch and bet

  • Bwin

  • Unibet

Reasons to buy

  • Get a truly global perspective with the most comprehensive report available on this market covering over 12 geographies.

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  • Create regional and national strategies based on local data and analysis.

  • Identify growth segments for investment.

  • Outperform your competition using forecast data and the drivers and trends shaping the market.

  • Understand customers based on the latest market research.

  • Benchmark performance against leading competitors.

  • Use relationships between key data sets for better strategy.

  • Suitable to support your internal and external presentations with reliable high quality data and analysis

The sports betting market includes sales of sports betting services by entities (organizations, independent traders and partnerships) that refer to online and offline sports betting platforms used to earn profits by predicting the outcome of a athletic event. Sports betting is a type of game in which bets are placed on certain sporting events, for a winning amount if the player or a team bet on wins the particular event. It is the process of placing bets on the outcome of a sporting event.

The main types of sports betting are online gambling, old fixed bets, exchange bets, daily fantasy, spread betting, e-sports, pari-mutuel and other types. Online gambling refers to a type of betting in which the bookmaker or bookmaker determines the favored and underdog teams in a game by setting the game odds. The sports segment includes football, basketball, baseball, racing horses, cricket, hockey and other sports depending on the type of bet. Additionally, the platform is segmented online and offline based on the bet location.

Western Europe was the largest region in the sports betting market in 2021. Regions covered in the sports betting market report are Asia-Pacific, Western Europe, Europe East, North America, South America, Middle East and Africa.

The increase in the number of sports leagues and events is expected to propel the growth of the sports betting market. A sports league or event is a group of clubs, countries, associations or people trying to compete in a match for a championship or title. These leagues are scheduled to take place within a particular schedule or within a particular season, which all teams or members must participate in to name an overall event or league champion. For example, according to a study published by Wire, currently more than 100 professional leagues in various sports are active across the world. Establishments of new professional sports leagues around the world offer customers the opportunity to diversify their betting spend. Hence, growing sports leagues and events are driving the growth of the sports betting market.

The implementation of AI and blockchain in sports betting applications is a key trend that is gaining popularity in the sports betting services market. Sports betting applications are increasingly adopting blockchain technologies to accurately automate real-time data using smart contracts, which help sports betting in payment, bet confirmations, event analysis events, monitoring and recording of events. For example, in May 2021, Bitgame, a sports betting platform operator based in Poland, launched a new website on a sports betting platform powered by blockchain technology. The new website merged blockchain-secured cryptocurrency with sports betting to provide a seamless and interactive experience for customers.

In September 2021, Endeavor Group Holdings Inc, a US-based entertainment and sports company, acquired OpenBet from Scientific Games, for US$1.2 billion through a combination of cash ($1 billion ) and Class A common stock of Endeavor ($200 million). With this acquisition, Endeavor’s position in the sports betting ecosystem will be strengthened, currently led by IMG ARENA, which works with more than 470 leading sports betting companies around the world to provide video streams and official live data for over 45,000 sporting events each year. OpenBet is a UK based sports betting entertainment company.

For more information on this report, visit https://www.researchandmarkets.com/r/dw94yw

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