Global Sports Betting Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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May 2023
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This report was compiled by Research Team Research team of over 50 passionate professionals leverages advanced research methodologies and analytical expertise to deliver insightful, data-driven market intelligence that empowers businesses across diverse industries to make strategic, well-informed Correspondence Research Team Linkedin | Detailed Market research Methodology Our methodology involves a mix of primary research, including interviews with leading mental health experts, and secondary research from reputable medical journals and databases. View Detailed Methodology Page
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“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
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn -
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- GVC Holdings PLC
- 888 Holdings plc
- Paddy Power Betfair plc
- Kindred Group PLC
- William Hill Plc
- The Stars Group Inc.
- Bet365 Group Limited
- DraftKings, Inc.
- BetAmerica
- Betsson AB
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