Sports Betting Market Is Prospering at USD 297,638.20 Million with Expected CAGR of 9.2% by 2030, Size, Share, Trends, Industry Growth and Competitive Analysis
SAN FRANCISCO, Jan. 3, 2023 /PRNewswire/ -- Data Bridge Market Research has recently published a Report, titled, "Sports Betting Market" The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. The most appropriate, exclusive, realistic and admirable market research report is delivered with devotion depending upon your business needs. With the precise base year and the historic year, estimations and calculations are performed in this Sports Betting report. Market share analysis and key trend analysis are the key accomplishing factors in this Sports Betting market report. This helps you recognize how the market is going to perform in the forecast years by giving you information about market definition, classifications, applications, and engagements. DBMR team provides you the Sports Betting market research report with commitment that is promising and the way in which you anticipate.
By thinking from the customer's perspective, a team of researchers, forecasters, analysts and industry experts work carefully to formulate this Sports Betting market report. This report provides data on patterns, improvements, target business sectors, materials, limits, and advancements. Furthermore, it works to determine the impact of buyers, substitutes, new entrants, competitors, and suppliers on the market. This gives more accurate understanding of the market landscape, issues that may affect the industry in the future, and how to best position specific brands. This Sports Betting market report helps to develop a successful marketing strategy for your business and acts as a backbone to the business.
Global sports betting market is expected to gain market growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 9.2% in the forecast period of 2023 to 2030 and is expected to reach USD 297,638.20 million by 2030.
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Market Overview:
Sports betting is a financial bet on the result of one or numerous games, events/non-events of an occasion inside a game, or wagering on sports in seven days in length or season-long rivalry. Sports betting involves staking on the outcome of sporting events. Bettors attempt to predict the result of an event to win their bet - and potentially profit.
NFL, NHL, NBA, MLB, and other iconic American sports are all part of the package for sports betting. But besides that, they also offer a range of European and otherworldly sports, so online sportsbooks are a good choice if people come from other territories across the globe.
Opportunity
- Rise in live e-sports coverage platform
The e-sports sector has grown significantly in terms of spectators and money. The growing audience was the key factor in the income growth, not just because those viewers were bringing in money. Brands are engaging in e-sports marketing, both directly and indirectly, as they recognise the potential of reaching a sizable and engaged audience. The surges in e-sports investment and revenue have been fuelled in part by the pop-culturization of the sector. The social aspect of live streaming and gameplay is a major reason why e-sports have reached such heights. Fans can interact directly with players and teams through video game-specific streaming services like Twitch and YouTube Gaming, while more widely used social networks have fostered these relationships. Some e-sports organizations, like FaZe Clan, are aggressively expanding into markets like merchandise, giving their brands more recognition than if they had only focused on e-sports.
Recent Development
- In September 2022, Entain Plc announced that it had collaborated with Bally's Corporation, BetMGM, DraftKings FanDuel, and MGM Resorts International to Launch Principles for Responsible Gaming. This helps organisation brand image among others globally.
Some of the major players operating in the Sports Betting market are:
- BETSSON AB,
- FORTUNA ENTERTAINMENT GROUP A.S.,
- LAS VEGAS SANDS CORPORATION,
- bet365.,
- Flutter Entertainment plc,
- 888 Holdings Plc,
- Entain,
- Kindred Group plc,
- MGM Resorts International,
- Kindred Group plc,
- Wynn Resorts Ltd,
- NOVIBET,
Galaxy Entertainment Group Limited, Resorts World at Sentosa Pte. Ltd., Sun International, RTSmunity a.s., SKY INFOTECH, Peermont Global Proprietary Limited, SJM Holdings Limited, Sportradar AG, FanUp, Inc., Rivalry Ltd., EveryMatrix., Kairos Group, BETAMERICA, Scientific Game, ComeOn
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The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the Sports Betting market
Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Sports Betting Market
Market Dynamics: Sports Betting Market
- Rising usage of online betting
Sports betting is known as predicting sports results and making a bet on the outcome. The most popular sports for wagering at the amateur and professional levels include association football, American football, basketball, baseball, hockey, track cycling, car racing, mixed martial arts, and boxing. The frequency of sports wagering varies by culture. In addition to non-athletic events like reality TV competitions and elections, sports betting is legal in non-human competitions like cockfighting, greyhound racing, and horse racing.
- Increasing e-sports competition
Every year, more and more people play video games, and more and more of them are entering virtual worlds. The popularity of e-sports games currently brings in more money than the music and film industries combined. For many people, gaming is no longer merely a pastime. The e-sports sector is expanding as a result of the pandemic. Millions of people turned to recreational gaming during the shutdown; some even turned to professional gaming. But the variety of games and genres available is just as impressive as the success of the top e-sports titles.
How will this Market Intelligence Report Benefit You?
- The report offers statistical data in terms of value (US$) as well as Volume (units)
- Exclusive insight into the key trends affecting this industry, although key threats, opportunities and disruptive technologies that could shape the Global Market supply and demand
- The report tracks the leading market players that will shape and impact this Market most
- The data analysis present in this report is based on the combination of both primary and secondary resources
- The report helps you to understand the real effects of key market drivers or retainers on this business
Restraints/Challenges
Everyone in the world of sports betting is searching for an advantage. While most seasoned, sharp bettors know that growing a bankroll requires careful money management, in-depth analytical research, and much patience, many novice bettors are searching for quick wins.
In the modern world, sports betting has grown highly widespread. Sports betting is a type of gambling in which a wager is made on how a sporting event will turn out. Online betting is one of the many sports betting types available anywhere. Politicians' elections and reality show competitions are only examples of non-athletic activities that can be bet on. The gambling industry has changed how sports are watched and even played. The uncertainty of the outcome is an essential part of the sport's attraction. If the result is pre-determined, the integrity of sports is lost, and with this, a large part of its meaning and appeal for fans. Match fixing is, therefore, a major threat to sports, and the advent of online gambling has increased the risk of match-fixing for financial gain. The huge scale of the global gambling industry is attractive to organized crime, and the range of the types of bets has increased inside misinformation.
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Key Industry Segmentation: Sports Betting Market
By Type
- Line-In-Play
- Fixed Old Betting
- Exchange Betting
- Daily Fantasy
- Spread Betting
- E-Sports
- Pari Mutuel
By Platform
- Online
- Offline
By Sports
- Racing
- Non Racing Sports
By Operator
- Food Grade
- Casinos
- Bingo Halls
- Card Rooms
- Bookmakers
- Coin-Operated Gambling Device
- Concession Operators
- Video Gaming Terminals
- Lotteries Operator
- Off-Track Sports Betting
By Age Group
- Gen Z
- Gen Y/Millennials
- Gen X
- Baby Boomers
Regional Analysis/Insights: Sports Betting Market
Global market comprises of the countries U.S., Canada, Mexico, Australia & New Zealand, Japan, South Korea, China, Singapore, Thailand, Philippines, Indonesia, Malaysia, India and Rest of Asia-Pacific, Italy, Germany, U.K., France, Spain, Netherlands, Turkey, Russia, Switzerland, Belgium, Luxemburg and Rest of Europe, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, Rest of Middle East and Africa.
Asia-Pacific region dominates the sports betting market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to high demand for verification and validation of medical devices in the country.
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Sports Betting Market: Regulations
- Market Overview
- Global Sports Betting Market, By Type
- Global Sports Betting Market, By Platform
- Global Sports Betting Market, By Sports
- Global Sports Betting Market, By Operator
- Global Sports Betting Market, By Age Group
- Global Sports Betting Market, By Region
- Global Sports Betting Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
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Asia-Pacific Sports Betting Market, By Type (Line-In-Play, Fixed Old Betting, Exchange Betting, Daily Fantasy, Spread Betting, E-Sports, Pari Mutuel), Platform (Online and Offline), Sports (Racing and Non Racing Sports), Operator (Casinos, Bingo Halls, Card Rooms, Bookmakers, Coin-Operated Gambling Device, Concession Operators, Video Gaming Terminals, Lotteries Operator, Off-Track Sports Betting, and Others), Age Group (GEN Z, GEN Y/MILLENIALS, GEN X, Baby Boomers) https://www.databridgemarketresearch.com/reports/asia-pacific-sports-betting-market
Middle East and Africa Sports Betting Market, By Type (Line-In-Play, Fixed Old Betting, Exchange Betting, Daily Fantasy, Spread Betting, E-Sports, Pari Mutuel), Platform (Online and Offline), Sports (Racing and Non Racing Sports), Operator (Casinos, Bingo Halls, Card Rooms, Bookmakers, Coin-Operated Gambling Device, Concession Operators, Video Gaming Terminals, Lotteries Operator, Off-Track Sports Betting, and Others), Age Group (GEN Z, GEN Y/MILLENIALS, GEN X, Baby Boomers) https://www.databridgemarketresearch.com/reports/middle-east-and-africa-sports-betting-market
North America Sports Betting Market, By Type (Line-In-Play, Fixed Old Betting, Exchange Betting, Daily Fantasy, Spread Betting, E-Sports, Pari Mutuel), Platform (Online and Offline), Sports (Racing and Non Racing Sports), Operator (Casinos, Bingo Halls, Card Rooms, Bookmakers, Coin-Operated Gambling Device, Concession Operators, Video Gaming Terminals, Lotteries Operator, Off-Track Sports Betting, and Others), Age Group (GEN Z, GEN Y/MILLENIALS, GEN X, Baby Boomers) https://www.databridgemarketresearch.com/reports/north-america-sports-betting-market
Europe Sports Betting Market, By Type (Line-In-Play, Fixed Old Betting, Exchange Betting, Daily Fantasy, Spread Betting, E-Sports, Pari Mutuel), Platform (Online and Offline), Sports (Racing and Non Racing Sports), Operator (Casinos, Bingo Halls, Card Rooms, Bookmakers, Coin-Operated Gambling Device, Concession Operators, Video Gaming Terminals, Lotteries Operator, Off-Track Sports Betting, and Others), Age Group (GEN Z, GEN Y/MILLENIALS, GEN X, Baby Boomers) https://www.databridgemarketresearch.com/reports/europe-sports-betting-market
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