Sports Betting Market Overview:
The Sports Betting market size was valued at USD 81.98 Bn in 2022 and is expected to reach USD 173.23 Bn by 2030, and grow at a CAGR of 9.8 % over the forecast period 2023-2030.
Sports betting is the prediction and gambling on the outcome of sporting events. The most popular sports to bet on differ by culture, with association football, American football, basketball, baseball, hockey, track cycling, auto racing, mixed martial arts, and boxing getting the great majority of wagers at both the amateur and professional levels. Sports betting may be used to wager on non-athletic events such as reality show competitions and political elections, as well as non-human contests such as horse racing, greyhound racing, and illegal, underground cockfighting.
Sports betting is a fast-paced industry. New trends emerge and either go away or become the new standard. What was hot five years ago may no longer be fashionable now. Sports betting is changing, especially with the start of the Covid pandemic. Bookmakers had to make changes to satisfy the increase of fans at home who wanted something to keep them entertained.
1. Over the last several years, e-sports have grown steadily.
2. Through player tracking, the rise and use of AI in sports betting is increasing popularity.
3. Last-Minute Betting to improve their chances of winning.
4. New signups are now receiving free bets and incentives from bookmakers.
5. Through live stream betting, betting organizations provide an exciting consumer experience.
In June 2022, Entain has agreed to buy BetEnt, a Dutch online sports betting and casino operator known as BetCity.nl, from Sports Entertainment Media. This purchase will create an even better experience for clients by combining BetCity's local knowledge and brand with Entain's market-leading, customer-focused platform."
MARKET DYNAMICS:
KEY DRIVERS:
The expansion of digital infrastructure and the pervasiveness of wireless connection
The increased use of smartphones has altered how customers engage in a range of activities, including game betting.
RESTRAINTS/ CHALLENGES:
The game will be subject to strict controls.
Concerns about the unlawful activity are expected to provide a barrier.
Concerns about data privacy and security.
OPPORTUNITY:
As internet usage has increased, so has the sports betting business, which has benefited from increased investment in online platforms.
The use of 5G networks, as well as the use of AI and blockchain technology, expands economic potential.
IMPACT OF COVID-19:
The COVID-19 epidemic caused sports events to be canceled, reducing sports betting chances. However, the sports betting business is projected to suffer less financial harm than other industries. Many customers/bettors migrated to online betting platforms as a result of the closure of land-based betting facilities. The online sports betting sector saw a rise in involvement during lockdowns because users had more time to spend on their phones and desktop computers, making it easier for them to place bets. The COVID-19 epidemic caused sports events to be canceled, reducing sports betting chances. However, the sports betting business is projected to suffer less financial harm than other industries. Many customers/bettors migrated to online betting platforms as a result of the closure of land-based betting facilities. The online sports betting sector saw a rise in involvement during lockdowns because users had more time to spend on their phones and desktop computers, making it easier for them to place bets.
MARKET ESTIMATION:
The platform market was driven by the online platform segment, which is likely to dominate the market by the end of the forecast period, demonstrating development. The predicted rise can be attributed to the rising global usage of cell phones and the internet. The worldwide population's lifestyle has been influenced by technological advancement and digitization. Financial development, an improvement in living standards, and an increase in discretionary income are all codependent elements.
The fixed-odds wagering category led the market in 2021, while the eSports betting segment is expected to increase at the quickest rate over the forecast period. The majority of clients are involved in leisure activities such as sports betting and are looking for additional money in addition to fun. Furthermore, interactive games are growing in popularity among children. While a considerable portion of the public participates in competitive matches for enjoyment, revenue, and recreation, eSports contests draw big viewers. As a result, the industry has begun to monetize the possibilities in the form of eSports betting.
Football events produce the majority of the income generated by all other types of sports. Football has the greatest market share and is projected to grow more in the future. Following football, horse racing has the second-largest market share and is predicted to expand at a positive CAGR during the projection period. Basketball and baseball are also predicted to rise throughout the projection timeframe. Many other types of sports are projected to flourish. The rising quantity and yearly events of sports leagues such as the NFL, IPL, EFL, and others are contributing to the development of these categories.
KEY MARKET SEGMENTS:
On The Basis of Platform
Offline
Online
On The Basis of Betting Type
Fixed Odds Wagering
Exchange Betting
Live/In Play Betting
Pari-mutuel
eSports Betting
Others
On The Basis of Sports Type
Football
Basketball
Baseball
Horse Racing
Cricket
Hockey
Others
REGIONAL ANALYSIS:
Europe had the biggest revenue share in 2021, and this is likely to continue throughout the projection period. The region's rise is due to the introduction of safety rules and regulations for both offline and online gambling. The implementation of safety rules and regulations for both offline and online betting in the majority of the region's nations may be attributed to the regional market's development. Asia Pacific had the second-largest revenue share in 2021 and is likely to increase at the quickest CAGR throughout the forecast period. Factors like as the rising number of individuals gambling on sports such as cricket, hockey, football, and basketball are driving the business in this area. Furthermore, the region's expansion is being driven by market authorization in countries like as India and Australia, as well as variables such as rising internet penetration and middle-class family income levels.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
KEY PLAYERS:
The major key players are Bet 365 Group Ltd., GVC Holding plc., The Stars Group, Paddy Power Betfair plc.,William Hill plc., Fortuna Entertainment Group, Betfred Ltd., mybet Holding, Hong Kong, Jockey Club, Kindred Group.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 81.98 Billion |
| Market Size by 2030 | US$ 173.23 Billion |
| CAGR | CAGR 9.8% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Platform (Offline and Online) • by Betting Type (Fixed Odds Wagering, Exchange Betting, Live/In Play Betting, Pari-mutuel, eSports Betting, Others) • by Sports Type (Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, +D11UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Bet 365 Group Ltd., GVC Holding plc., The Stars Group, Paddy Power Betfair plc.,William Hill plc., Fortuna Entertainment Group, Betfred Ltd., mybet Holding, Hong Kong, Jockey Club, Kindred Group. |
| Key Drivers | •The expansion of digital infrastructure and the pervasiveness of wireless connection. |
| Market Restraints | •The game will be subject to strict controls. •Concerns about the unlawful activity are expected to provide a barrier. •Concerns about data privacy and security. |
Ans: - The Sports Betting market size was valued at USD74.67 Bn in 2021.
Ans: - The game will be subject to strict controls and concerns about data privacy and security.
Ans: - Europe had the biggest revenue share in 2021, and this is likely to continue throughout the projection period.
Ans: - The primary growth tactics of Sports Betting market participants include merger and acquisition, business expansion, and product launch.
Ans: - The study includes a comprehensive analysis of Digital Printing Market trends, as well as present and future market forecasts. DROC analysis, as well as impact analysis for the projected period. Porter's five forces analysis aids in the study of buyer and supplier potential as well as the competitive landscape etc.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Sports Betting Market Segmentation, by Platform
8.1 Offline
8.2 Online
9. Sports Betting Market Segmentation, by Betting Type
9.1 Fixed Odds Wagering
9.2 Exchange Betting
9.3 Live/In Play Betting
9.4 Pari-mutuel
9.5 eSports Betting
9.6 Others
10. Sports Betting Market Segmentation, By Sports Type
10.1 Football
10.2 Basketball
10.3 Baseball
10.4 Horse Racing
10.5 Cricket
10.6 Hockey
10.7 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Bet 365 Group Ltd.
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 GVC Holding plc.
12.3 The Stars Group
12.4 Paddy Power Betfair plc.
12.5 William Hill plc.
12.6 Fortuna Entertainment Group
12.7 Betfred Ltd.
12.8 mybet Holding
12.9 Hong Kong Jockey Club
12.10 Kindred Group.
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
14. Conclusion
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