The global sports betting market size is expected to grow from $89.65 billion in 2021 to $99.20 billion in 2022 at a compound annual growth rate (CAGR) of 10.64%. The global sports betting market size is expected to reach $144.34 billion in 2026 at a CAGR of 9.83%.
What is the Global Sports Betting Market?
The sports betting market consists of sales of sports betting services by entities (organizations, sole traders, and partnerships) that refer to both online and offline sports betting platforms used for earning profits by predicting the outcome of a sporting event. Sports betting is a type of gambling in which bets are placed on certain sporting events, for a winning amount if the player or a team betted wins the particular event. It is the process of placing wagers on the outcome of a sports event.
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What drives the Global Sports Betting Market?
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 to name an overall champion of the event or league. For instance, according to a study published by Wire, currently, more than 100 professional leagues in various sports are active across the globe. The establishments of new professional sports leagues across the globe are providing customers with the opportunity to diversify their betting expenditures. Therefore, the growing sports leagues and events are driving the growth of the sports betting market.
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Global Sports Betting Market Segments
The global sports betting market is segmented:
By Type: Line-in-play, Fixed Old Betting, Exchange Betting, Daily Fantasy, Spread Betting, E-Sports, Pari-Mutuel, Other Types
By Sports Type: Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, Other Sports Types
By Platform: Online, Offline
By Geography: The regions covered in the sports betting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Sports Betting Global Market Report 2022provides market size and growth forecasts for the global sports betting market, global sports betting market share, sports betting market segments and geographies, sports betting market competitive landscape including leading competitors’ revenues, profiles and market shares. The sports betting market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Sports Betting Industry Playersinclude 888 Holdings Plc, Bet365, Betsson AB, Churchill Downs Incorporated, Flutter Entertainment Plc, Kindred Group Plc, Sportech Plc, William Hill, DraftKings, The Stars Group Inc, BetAmerica, Webis Holdings Plc, Gala Coral, Bet-at-home, FanDuel, Betfred, Ladbrokes, Entain plc, IGT, TVG, Twinspires, Watch and Wager, Bwin, and Unibet. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
