Global Sports Betting Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

“Global Sports Betting Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global sports betting market report has been segmented on the basis of type, sports type, platform, and region.

Global Sports Betting Market: Overview

Sports betting is an activity of placing a wager on the outcome of the sports activity.  It includes athletic such as cricket, football, basketball, hockey, tennis, boxing, mixed martial arts, as well as non-athletic activities such as horse racing, dog fighting, greyhound racing, etc. Betters place a bet legally via privately run enterprises, bookmarker, bookies, betting agencies, and sportsbooks. The term ‘book’ is records of races, competitors, matches, payouts, and debt. Sports betting is also done using an online platform which is operated over the Internet without any middleman. Individuals placing a wager are called as bettors in US and punters in UK. The Fantasy Sports market, according to marketresearch.biz, is thriving with innovations like Generative AI, transforming sports betting experiences.

Global Sports Betting Market: Dynamics

Increasing sports betting activities, owing to the high popularity of sports such as football, basketball, cricket is a major factor driving growth of the global sports betting market. In addition, increasing betting on virtual sports is a factor fueling growth of the target market. Furthermore, growing trend of online betting activities, legalization of online betting in some countries, and an increasing number of betting apps are some of the factors expected to support growth of the global sports betting market in the near future.

However, stringent regulations against sports betting in various countries is a factor that may hamper growth of the global sports betting market. In addition, sports betting can cause adverse effects such as addiction, loss of sleep, depression due to loss of money, which is also a factor that could result in declining interest levels in sports betting and hamper revenue growth of the global market.

Global Sports Betting Market: Segment Analysis

Among the platform segments, the online segment is expected to account for a major share in terms of revenue over the forecast period. Increasing use of online platforms due to its convenience and no requirement of a broker are factors supporting growth of this segment in the target market. In addition, high winning percentage in online betting is another factor propelling growth of this segment.

Global Sports Betting Market: Regional Analysis

The market in the Asia Pacific is expected to register significant growth in terms of revenue over the forecast period. Rising awareness regarding various sport betting games and platforms among individuals and increasing participation in leisure activities are factors driving growth of the target market in this region. In addition, rising disposable income, coupled with increasing interest in various sports activities are factors anticipated to fuel growth of the sports betting market, especially countries such as China and India in the Asia Pacific. The market in North America is expected to register high growth in terms of revenue in the near future. Increasing online betting and adoption of technological advance systems for betting are factors expected to propel growth of the target market in North America. The market in Europe is anticipated to register average growth in terms of revenue in the near future.

Global Sports Betting Market Segmentation:

Segmentation by type:

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

Segmentation by Sports Type:

• Horse Riding
• Cricket
• Football
• Basketball
• Baseball
• Boxing
• Auto Racing
• Tennis
• Golf
• Hockey

Segmentation by Platform:

• Online
• Offline

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa