The Sports Betting Global Market Report 2023 by The Business Research Company, provides sports betting market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Sports Betting Global Market Report 2023, the market size is expected to grow from$96.84 billion in 2022 to $104.78 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global sports betting is expected to grow to $135.95 billion in 2027 at a CAGR of 6.7%.
The increase in the number of sports leagues and events is expected to propel the growth of the sports betting market. A sports league or an event is a group of clubs, countries, associations, or people trying to compete with each other in a game for a championship or a title. These leagues are planned to happen in a particular schedule or during a particular season, in which all the teams or members are required to participate in naming an overall champion of the event or league.
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The sports betting market is segmented:
1) By Type: Line-in-play, Fixed Old Betting, Exchange Betting, Daily Fantasy, Spread Betting, E-Sports, Pari-Mutuel, Other Types
2) By Sports Type: Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, Other Sports Types
3) By Platform: Online, Offline
Implementation of AI and blockchain in sports betting applications is a key trend gaining popularity in the sports betting services market. Sport betting applications are increasingly adopting blockchain technologies to accurately automate real-time data using smart contracts, which help sports betting in payment, bet confirmations, past event analytics, monitoring, and event recording. For instance, in May 2021, Bitgame, a Poland-based sports betting platform operator, launched a new website on a sports betting platform powered by blockchain technology. The new website merged blockchain-secured cryptocurrency with sports betting to provide a seamless and interactive experience to customers.
The sports betting market report table of contents includes:
1. Executive Summary
2. Sports Betting Market Characteristics
3. Sports Betting Market Trends And Strategies
4. Sports Betting Market – Macro Economic Scenario
5. Sports Betting Market Size And Growth
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26. Africa Sports Betting Market
27. Sports Betting Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Sports Betting Market
29. Sports Betting Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- 888 Holdings PLC
- Bet365
- Betsson AB
- Churchill Downs Incorporated
- Flutter Entertainment PL
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