Statistics, Share Price, Growth Prospects, Industry Trends, Approach, Developed Methodology, Key Players, and Geographical Analysis by Forecast to 2032 for the Sports Betting Market in 2022

In 2022, the sports betting market is anticipated to reach a value of USD 84.58 billion and expand at a CAGR of 10.2%.

Attributes	Details
Sports Betting Market CAGR (2022-2032)	10.2%
Sports Betting Market Size (2022)	USD 84.58 Billion
Sports Betting Market Size (2030)	USD 183.96 Billion
Sports Betting Market Size (2032)	USD 223.4 Billion

The primary variables impacting the sports betting market future trends as well as sports betting market adoption trends include the expansion of linked smart smartphones, changes in the digital economy of South Asian economies, and an increase in the popularity of online betting among millennials.

Younger individuals have been encouraged to spend more time on cellphones thanks to the Covid-19 phase, which has been in effect for the past two years. This has favoured the adoption of sports betting. Asian nations have a higher concentration of the younger population. Consumers tended to turn to the internet platform more during lockdowns that had a beneficial impact on major trends and prospects in the sports betting market for the resolution of their monetary, social, and psychological problems.

The market for sports betting is being driven by the spread of wireless connectivity and the development of digital infrastructure. The rising use of smartphones has altered consumer behaviour, which has also raised the demand for sports betting and altered how consumers wager on games.

Additionally, as there are more sporting events and leagues, there is a growing interest in sports betting, which boosts the industry’s sales.

Sports including football, basketball, baseball, hockey, cricket, boxing, and auto racing attract the most wagers. Horse racing and eSports are examples of non-athletic events that can be bet on as sports.

Additionally, as internet usage has increased, there have been more investments made in online platforms, which has led to sports betting market growth.

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KEY TAKEAWAYS:

• The online platform segment, which is predicted to dominate the sports betting market with growth at a CAGR of 12.6% through 2032, led the sports betting market in terms of platforms.
• While the eSports betting segment is expected to grow at the fastest CAGR of 14.8% through 2032, the fixed odds wagering segment currently holds a sports betting market share of over 25%.
• Football holds a 23.0% sports betting market share in terms of sports type and is anticipated to grow over time.
• The second-largest sports betting market share was held by the horse racing industry, which is projected to expand at a CAGR of 10.3% through 2032.
• Through 2032, sports betting market growth in the basketball and baseball segments is anticipated to be close to 10%.
• Around 30.0% of revenue of sports betting market was generated in the Asia Pacific region, which is also predicted to have the highest CAGR over the forecast period.
• During the forecast period, the Europe region is expected to exhibit a CAGR of nearly 11%.
• In 2022, Europe held a 37% sports betting market

COMPETITIVE LANDSCAPE:

New market research report on sports betting says that 888 Holdings Plc; Bet365; Betsson AB; Churchill Downs Incorporated; Entain plc; Flutter Entertainment Plc; IGT; Kindred Group Plc; Sportech Plc; William Hill Plc are among the legacy players vendors.

The research offers a comprehensive competition analysis of these top competitors in the sports betting market, including sports betting market growth, sports betting market share, sports betting market key trends and opportunities and important sports betting market statistics.

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RECENT DEVELOPMENT:

LAUNCH:

• A new website on a sports betting platform powered by blockchain technology was launched by Bitgame, a sports betting platform operator with headquarters in Poland, in May 2021. To give users a seamless and engaging experience, the new website combined sports betting and blockchain-secured cryptocurrency.

ACQUISITION:

• For US$1.2 billion in cash ($1 billion) and Endeavor Group Holdings Inc.’s Class A common stock ($200 million), Scientific Games sold OpenBet to the US-based entertainment and Sports Company in September 2021.

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