Global Sports Betting Market Size Is Expected To Grow By $144 Billion By 2025

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Sep 09, 2021, 09:00 ET

PALM BEACH, Fla., Sept. 9, 2021 /PRNewswire/ -- Even the pandemic could not prevent the Global Sports Betting Market to thrive and continue to grow. The global sports betting market had been pent-up for about a year. However, sports gambling statistics in the U.S. suggested strong, record growth with $387 million in revenue being attributed to January alone, per the American Gaming Association (AGA). As a record month for nationwide sports betting, it signified a 174% year-over-year surge in revenue from 2020. In addition to the 11 states that reported record-setting wager amounts from sports betting in January, there were also two new legal jurisdictions, in Virginia and Michigan, which contributed to those statistics. Tennessee and South Dakota are among a few other states looking to finalize legislation to legalize sports betting within their borders before starting the next football season, September 2021. According to an article in the European Business Review, domestic sports betting revenue in the U.S. is projected to be valued at $7 billion by 2025… and it continued saying that, according to a report by Technavio, the global sports betting market size is expected to grow by $144.44 billion between 2020-2025. Active gaming and tech companies in the markets today include: Esports Technologies (NASDAQ: EBET), Esports Entertainment Group's (NASDAQ: GMBL), Skilz (NYSE: SKLZ), Golden Nugget Online Gaming, Inc. (NASDAQ: GNOG), FansUnite Entertainment Inc. (OTCQX: FUNFF) (CSE: FANS).

The article said: "Gross gambling revenue (GGR) in Europe was forecasted to be worth 24.7 billion Euros, in 2020, including online lottery, online casinos, and sports betting. Italy, the U.K, Germany, France, and Spain had the highest GGRs, respectively. In 2019, forty-one percent of online gambling revenue in Europe came from sports betting. The region's online gambling market was expected to be valued at $94 billion by 2024. While Europe leads the way internationally for online gambling, many sportsbooks throughout Latin America remain available through traditional, land-based casinos. However, online wagering is becoming an unstoppable force."

Esports Technologies (NASDAQ: EBET) – BREAKING NEWS - Esports Technologies to Showcase Proprietary Technology and Brands to iGaming Industry as Platinum Sponsor at SiGMA Europe - Global provider of advanced esports wagering products and technology to exclusively sponsor Esports Tournament at prestigious event - Esports Technologies, a leading global provider of advanced esports wagering products and technology, is proud to announce that it will be a Platinum Sponsor at the upcoming SiGMA Europe expo.

SiGMA Europe has become one of the key gaming industry events on the calendar bringing together operators, suppliers, affiliates, regulators and other industry stakeholders. This year's expo anticipates an attendance of more than 15,000 delegates.

The event (billed as "The World´s Gaming Festival") runs from 15-19 November at the Malta Fairs and Conventions Centre and will provide a platform for Esports Technologies to showcase their cutting-edge proprietary technologies, brands and product development.

As a Platinum Partner, Esports Technologies will be the exclusive sponsor of the esports Tournament taking place during the prestigious industry event. The tournament will see Counter Strike: Global Offensive legends team up and take on some of the next generation of players making their mark on the popular game in what promises to be a fiercely competitive battle.

Esports Technologies will also be running an Esports workshop during the event where delegates can learn more about the future of Esports and the key trends impacting the fast-growing sector, which according to thebusinessofesports.com is expected to be valued at more than $20.7 billion by 2027. The workshop will be co-hosted by industry leaders.

Mark Thorne, Chief Marketing Officer at Esports Technologies, said: "SiGMA Europe is one of the biggest events on the calendar and a must-attend expo for many key stakeholders across the industry. We're especially excited that this event is taking place in Malta, where Esports Technologies has recently established its European headquarters.

"We are proud to be a Platinum Partner and to be sponsoring the Esports Tournament during the event as we look to illustrate just how popular esports has become whilst also discussing our technology, brands and product offerings with partners and affiliates.

"The SiGMA Europe agenda is packed with panels, presentations and workshops, and we are looking forward to contributing to the learnings and discussions that will take place." CONTINUED… READ THIS AND MORE NEWS FOR EBET BY VISITING: https://esportstechnologies.com/news/

In other entertainment and gaming recent news of interest:

A brand new, exciting opportunity for students is coming to UCLA thanks to a new relationship between ASUCLA and Helix eSports. Students will see Helix eSports, a part of Esports Entertainment Group's (NASDAQ: GMBL) gaming division, launch a state-of-the-art gaming facility inside Ackerman Union, right in the heart of UCLA's campus.

The Bruin student body and the Westwood community can look forward to a space that offers high-end gaming PCs, virtual reality and console experiences. The facility will be named Helix eSports UCLA and will be the first of its kind by Helix eSports to launch at a college campus. The center will offer an experience to gamers of all volitions. Whether it is a space for friends and communities to play together or as a competitive ecosystem with tournaments and leagues, Helix offers programming for everyone. This new on-campus offering looks to create industry jobs for UCLA inside the facility and the larger esports industry upon graduation.

Skilz (NYSE: SKLZ), the leading mobile games platform bringing fair and fun competition to players worldwide, recently announced it has formed a strategic partnership with Exit Games, global developer of Photon, the world's most advanced synchronous multiplayer gaming technology.

Headquartered in Hamburg, Germany, Exit Games allows developers to create and host real-time, synchronous multiplayer games. Its nearly 600,000 trusted partners include some of the most well-respected game publishers and developers in the world, such as EA, Square Enix, and Ubisoft, among others, powering gameplay in over 700,000 applications.

Golden Nugget Online Gaming, Inc. (NASDAQ: GNOG) along with its partner Grand Canyon Resort Corporation ("GRCR"), a wholly owned company of the Hualapai Tribe, recently announced that the Arizona Department of Gaming has awarded the partnership an online tribal event wagering operator license.

Thomas Winter, President of GNOG stated, "We thank the Arizona Department of Gaming for the opportunity to expand our online operations into the state of Arizona and together with GCRC and the Hualapai Nation, we look forward to providing Arizonians with our premier sports betting offerings."

"The Hualapai Tribe is pleased to have been approved for an event wagering license in Arizona and looks forward to this opportunity to earn additional gaming revenue to support the Hualapai people," said Dr. Damon R. Clarke, Chairman of the Hualapai Tribe. "With an outstanding partner in Golden Nugget, we will establish a top-tier event wagering operation through our Grand Canyon Resort Corporation.

FansUnite Entertainment Inc. (OTCQX: FUNFF) (CSE: FANS) recently announced that its subsidiaries, Askott Entertainment Inc. and E.G.G. Limited, have been granted licenses from the UK Gambling Commission ("Gambling Commission"), enabling the Company to serve as a Business-to-Business ("B2B") technology provider and Business-to-Consumer ("B2C") operator in the UK online gambling market.

The UK is one of the world's largest online betting markets. From 2019 to 2020, the UK gambling industry, which comprises 30.2 million registered adult bettors, generated a gross gambling yield of £14.26 billion.

Through its subsidiaries, FansUnite has received a remote gambling software license and remote betting license from the Gambling Commission. These licenses allow FansUnite to supply its B2B wagering platforms to UK sports books and casino operators, and deliver its B2C betting solutions to the UK marketplace. The Company previously announced that it had submitted its license applications on March 4, 2021.

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