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Sports Betting Market Size & Share to Surpass USD 129.3 Billion by 2028 | Vantage Market Research

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The global Sports Betting Market was valued at $74.2 Billion in 2021 and is expected to reach $129.3 Billion by 2028, registering a CAGR of 9.7% during the forecast period of 2022-2028. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Vantage Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Vantage Market research has a newly released expansive study titled Global Sports Betting Market which guarantees you will remain better informed than your competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases survival and succeeding in the market. This Sports Betting report has been produced, which results in significant growth, as well as robust sustainability in the market for the firms. This is due to the inclusion of precise facts and insights gained from market research. This study analyzes and talks about a variety of topics, including significant industry trends, estimations of market size, and market share. This report provides an advantage that not only allows one to compete but also allows one to excel over one’s rivals. It classifies the global Sports Betting market size in terms of value and volume according to the various types of manufacturers, applications, and regions. The outlook for the Sports Betting market and the Sports Betting industry as a whole appears to be quite positive during the projection period.

Sports Betting Market Dynamics:

Drivers:

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Increasing Technological Advancement and Innovation to Drive the Market Growth

The increasing technological advancement and innovation in online sports gaming are anticipated to augment the growth of the Sports Betting Market during the forecast period. Digital platforms enable gamblers to place bets from any location around the world, which saves time as well as travel costs. Along with this, the ease of operations digitally makes it a significant driver for the Sports Betting Market. Moreover, rapid penetration of internet-based devices such as tablets, laptops, and smartphones aid the contact with end-users by involving them through online betting activities with the most negligible influence on daily activities. Hence, smartphones are anticipated to play a vital role in the acceptance of Sports Betting Market among end-user over the forecast timeline. In addition, increasing smartphone penetration and high adoption of instant messaging services and video streaming augment the growth of online Sports Betting Market through mobile devices. Such factors can influence the user experience by developing improved mobile applications. Furthermore, the benefits associated with the 5G networks are projected to enhance the adoption of smartphone-based betting in the coming years, driving the Global Sports Betting Market growth.

Rapid Development of Electronic Systems to Stimulate Market Growth

The development of electronic systems to facilitate gaming competition, such as a variety of video games, is contributing to the growth of the e-sports industry. This is expected to fuel the market where bets are placed on the tentative winner. In recent years, the e-Sports industry has seen rapid growth in viewership and revenue. The increasing viewership contributed significantly to revenue growth. For example, in 2016, there was a significant increase in casual and avid eSports viewers, including viewers who watch it regularly. Furthermore, rising eSports awareness is expected to drive industry growth shortly. The rise of live eSports coverage platforms, such as Twitch and YouTube, increases global viewership and drives business growth. Furthermore, the number of people watching Tv with live streams has risen steadily. E-Sports marketing would aid in expanding Sports Betting Market and delivering marketing messages via various channels. Over the forecast period, the factors mentioned earlier are expected to drive market growth.

List of Prominent Players in Sports Betting Market:

  • 888 Holdings PLC
  • Bet365
  • Betsson AB
  • Churchill Downs Incorporated
  • Entain PLS
  • Flutter Entertainment PLC
  • IGT
  • Kindred Group PLC
  • Sportech PLC
  • William Hill PLC

Segmentation of the Global Sports Betting Market:

  • Platform
    • Offline
    • Online
  • Betting Type
    • Fixed Odds Wagering
    • Exchange Betting
    • Live/In Play Betting
    • Pari-Mutuel
    • eSports Betting
    • Other Types
  • Sports Type
    • Football
    • Basketball
    • Baseball
    • Horse Racing
    • Cricket
    • Hockey
    • Other Sport Types
  • Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

The Report on Sports Betting Market Highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates, and Forecast
  • Company Profiles
  • Global and Regional Dynamics

Regional Analysis:

Europe held the largest share of around 50% of the global sports betting market in 2021. Popular sports in Europe such as football, auto racing, rugby, and tennis have a large, loyal fan base that is actively engaged in sports betting. Additionally, implementation of stringent rules and regulations in betting has significantly reduced fraud in the region, thereby positively impacting the sports betting industry growth in Europe.

Asia Pacific dominated the Global Sports Betting Market in 2021 and is likely to continue the same trend during the forecast period. This is attributable to a substantial proportion of young people participating in various regional sports. Furthermore, the rising internet and smartphone penetration coupled with the rising disposable income of the middle-class population is also likely to support the regional growth of the market.

Browse market data Tables and Figures spread through 149 Pages and in-depth TOC on Sports Betting market Forecast Report (2022-2028).

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Recent Developments:

April 2022: Fanduel extended its partnership to become an Official Sports Betting Partner of the New York Yankees. Through this partnership, FanDuel will be allowed the use of New York Yankees’ marks. It will also have premium VIP hospitality accommodations at Yankee Stadium.

January 2022: Flutter Entertainment PLC announced its acquisition of the leading Italian online gambling brand Sisal for €1.913 billion (£1.62 billion) from CVC Capital Partners. Sisal will presumably slot into the Flutter International division, led by the PokerStars brand and supported by Betfair International and recent acquisitions Adjarabet and Junglee Games.

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IAGA

The International Association of Gaming Advisors (IAGA) Announces 2024 International Gaming Summit in Washington, D.C.

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2 days ago

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April 26, 2024

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The International Association of Gaming Advisors (IAGA) will hold its 41st International Gaming Summit Monday, May 27 through Thursday, May 30, 2024 at The Ritz-Carlton Washington, D.C.

As a premier event that brings together leaders from all global gaming sectors, the Summit will provide operators, suppliers, attorneys, investors, bankers, regulators and other advisor delegates with an unparalleled opportunity to meet and discuss the most important issues facing gaming.

“We are looking forward to holding this year’s 41st Annual International Gaming Summit in Washington, D.C., and are pleased to announce an agenda that includes a specific focus on some of the key sports betting issues the rapidly expanding US market is facing. As part of this focus, we will bring together representatives from global sports betting operators, regulatory agencies, professional sports leagues and other experts to discuss how the industry’s sports betting stakeholders can better work together to ensure a sustainable, responsible sports betting environment that is built on best practices lessons learned from other markets,” John Stawyskyj, President of IAGA, said.

“Beyond our sports betting focus, our diverse agenda includes discussions on other issues of importance including the growing impact of fraud and cyber breaches on regulated operators, a look into the federal and state lobbying process, an update on what’s happening in other gaming markets outside North America, a deep dive into new technologies and how they might impact gaming and more. I look forward to welcoming our delegates to Washington and participating with them in lively discussions about these critical issues and more,” Stawyskyj added.

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Charlie Skinner

Marker Trax Appoints John Henderson as Senior Vice President of Operations

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2 days ago

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April 26, 2024

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Marker Trax, a leader in cashless payment solutions for the gambling industry, has announced the appointment of John Henderson as its senior vice president of operations.

As the company continues solidifying its cashless payments sector leadership position, Henderson joins the team to play a key role in leading strategic planning efforts, executing new operator and customer initiatives, directing pursuit of key performance indicators, and ensuring overall product and technology quality control. He reports directly to, and will work closely with, Marker Trax President Charlie Skinner.

Henderson is a seasoned, energetic industry veteran who brings to Marker Trax more than four decades of success in delivering technology-based business solutions, leading innovation-forward companies seeking to increase their industry footprints and to solidify their market shares.

“We’re cementing our leadership position in the cashless space, and John is the right leader, at the right time, to help guide us there. He has tactical expertise, and a long track record of success in the IT space. More than that, though, he’s always eager to innovate – which aligns perfectly with our philosophy and goals. We’re lucky to have him on board,” Charlie Skinner, President of Marker Trax, said.

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Immediately prior to joining Marker Trax, Henderson served as chief information officer at WorldStrides, a global leader in educational travel services, and helped the company navigate a business and IT transformation program. Henderson has also held client partner roles at Accenture, IBM, and Cognizant, and has served numerous global brands including Choice Hotels, Hilton Hotels, MGM Resorts, Wynn, Disney, and Royal Caribbean.

“Every step of his career, John’s shown natural aptitude for client relationship management and large-scale systems integrations, and a keen, tactical eye for optimizing performance at all levels of an operation. At Marker Trax, we’re increasing our market footprint through continual innovation, and John’s tactical leadership will be of tremendous benefit to reaching our goals,” Skinner said.

Henderson’s addition caps a prolific run of recent accomplishments for the company. It recently unveiled its innovative consumer product, Moolah Play, secured renewed commitment from partner and global payments leader Euronet Worldwide Inc., and is introducing its cashless credit technology into more markets around the country.

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Affinity Interactive

Affinity Interactive Appoints Scott Butera as President & Chief Executive Officer

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2 days ago

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April 26, 2024

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Affinity Interactive has announced the appointment of Scott Butera as President & Chief Executive Officer, effective immediately.

Mr. Butera, who most recently led AI’s Sports Information Group (SIG) business, brings over 30 years of experience in gaming, hospitality, media, entertainment, and sports to the pivotal role. In his new capacity, Mr. Butera will set strategy and oversee operations of the Company’s diversified portfolio of casinos resorts across Nevada, Missouri, and Iowa. He will also continue to oversee all print and online media platforms, including Daily Racing Form.

Mr. Butera is an industry veteran who has a history of leading growth and innovation at numerous companies. As CEO of SIG, he led initiatives to develop retail and business products and optimize ecommerce sales for the Daily Racing Form. Under his leadership, SIG experienced significant growth in market share and revenue. Previously, Mr. Butera served as President of Fubo Gaming at Fubo TV Inc. He has also held CEO and President positions at MGM Resorts International, the Arena Football League, Foxwoods Resort & Casino, Tropicana Entertainment, and Trump Entertainment, among others. Earlier in his career, he worked as an investment banker for more than a decade, gaining valuable financial expertise that he later applied to strategic decision-making in the gaming industry. Mr. Butera has a B.A. from Trinity College, where he served as a Trustee, and an MBA from New York University.

“Scott’s operating acumen and deep knowledge of the gaming and entertainment industries have helped AI and Sports Information Group expand product offerings and improve the sports and gaming experience for consumers around the world. I am confident Scott will integrate seamlessly into this expanded role, and under his leadership, Affinity will achieve greater success, continuing to deliver world-class experiences to nearly 1 million users and guests across platforms,” James J. Zenni Jr., Chairman of Affinity Interactive, said.

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“Affinity’s mission to elevate the gaming industry through advanced technology and unparalleled customer offerings – both across digital media platforms as well as in-person gaming – remains a driving force behind the business’ success. I am eager to collaborate with Jim and leverage my familiarity with the business as well as my passion for driving innovative change to execute on AI’s long-term strategic priorities,” Mr. Butera said.

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