Canada
Online Sports Betting Market is Predicted to Hit USD 59,530.7 Million at a CAGR of 13.6% by 2026 – Report by Market Research Future (MRFR)
According to a comprehensive research report by Market Research Future (MRFR), “Online Sports Betting Market – Information by Sports, Type and Application – Forecast till 2026″ the market size is expected to grow from USD 24,988.4 million in 2019 to USD 59,530.7 million by 2026, at a compound annual growth rate of 13.6%
Market Scope:
The global online sports betting industry is projected to expand at a healthy rate during the forecast period. Factors such as increasing sports demand and eSports activity demand are expected to drive the market during the study period. The growing digital innovation has also provided new opportunities for the online sports betting industry. However, government constraints in some countries are likely to stifle global business growth.
Dominant Key Players on Online Sports Betting market covered are:
- 888 Holdings PLC (UK)
- Flutter Entertainment PLC (UK)
- Bet365 Group Ltd (UK)
- Fortuna Entertainment Group (Netherlands)
- Churchill Downs Incorporated (US)
- Entain PLC (UK)
- DraftKings (US)
- Betsson AB (Sweden)
- Betfred Ltd (UK)
- Webis Holdings PLC (Isle of Man)
- Kindred Group PLC (Malta)
- Sportech PLC (UK)
- BetAmerica (US)
- HKJC Football Betting Limited (Hong Kong)
- Megapari (Cyprus)
Market USP exclusively encompassed:
Market Drivers
The rising demand for sports is propelling the global online sports betting industry forward. Sport is an important platform for achieving growth goals. Sport can make a major contribution to social integration and economic development in a number of geographical, cultural, and political contexts. Through their effect on social capital, trust, culture, and crime, sports can further foster capital accumulation, encourage market functioning, and strengthen institutions. These specific outcomes are mutually reinforcing. Furthermore, participating in sports helps players live longer and healthier lives, which contributes to lower obesity rates. Diabetes and high blood pressure tend to be less common in healthy people. The global eSports industry is expanding, with an increasing number of people participating as competitors or spectators. It is increasingly becoming one of the world’s most famous spectator sports. Modern sports-only websites, similar to the advent of traditional sports betting websites, now offer ways to bet on events and tournaments, as many will be betting on esports.
Regional Analysis
By region, the global online sports betting market has been segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Europe led the online sports betting industry in 2019 with a volume of USD 12,146.2 million, and it is projected to hit USD 26,323.6 million by 2026 at a CAGR of 12.1%. With a market share of 48.6% in 2019, Europe is the largest contributor to Mobile Online Sports Betting. According to MRFR research, the rising sports spirit and zeal to watch sports in Europe are increasing day by day due to new game formats and gaming modes.
It has become a wide market for players and businesses like gambling and betting to place bets and enjoy themselves. Europe has had a presence of gambling and betting since the 1800s, but it has grown to the next level in recent years; with the adoption of smartphones and the evolution of technology, it is now very convenient to operate and play on the platforms provided by gambling industries.
Segmentation of Market Covered in the research:
The global online sports betting market has been segmented into sports type, type, and application.
Based on sports type, the global online sports betting market has been bifurcated based on the sports type into football, horse riding, cricket, tennis, baseball, volleyball, basketball, hockey, boxing, golf, racing, and others.
Based on application, the global online sports betting market has been divided into mobile-based and web-based applications for online betting. The web-based segment held a larger market share of 64.6% in 2018 and is anticipated to register a CAGR of 8.7% during the review period.
Industry News
In February 2021, Betfred Ltd signed the Rugby League “Double” for 2021, with a one-year contract to become the Challenge Cup’s title sponsor, adding to its long-standing relationship with the Super League. The agreement also includes sponsorship of the Women’s Challenge Cup.
In February 2021, Kindred Group plc announced an alliance with the Quechan Tribe of the Fort Yuma Indian Reservation to gain market access in California and Arizona. The deal, which spans ten years and has an extension clause at the end, allows the Group to offer both online and retail store betting, as well as iGaming. The launch in California and Arizona is contingent on the introduction of local legislation.
In March 2021, Dish Network and DraftKings announced a partnership to offer DraftKings sportsbook and daily fantasy experiences directly to DISH customers nationwide.
In January 2021, Churchill Downs Integrated rebranded its BetAmerica Sportsbook and iGaming platform as ‘TwinSpires.’
In May 2020, Flutter Entertainment PLC successfully purchased the stars group under its banner.
COVID-19 Impact on the Global Online Sports Betting Industry
The outbreak of novel coronavirus has had an effect on many industry verticals, including manufacturing, from raw material production to finished product delivery. On the other hand, in order to monitor the spread of deadly virus, government institutions around the world placed limits on various sporting activities. Owing to an increase in the number of COVID-19 cases worldwide, scheduled events such as the English Premier League, Serie A in Italy, La Liga in Spain, Super Lig in Turkey, and Major League Soccer in the United States were canceled or postponed.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Bally Bet Sportsbook & Casino app
Bally’s Interactive Launches the New Bally Bet Sportsbook & Casino App in Ontario
Bally’s Interactive, the digital and sports betting division of Bally’s Corporation, has launched the all-new Bally Bet Sportsbook & Casino app in Ontario, Canada. This latest release marks another significant milestone for the company, following the recent app update in New Jersey and a series of successful app launches in the past year, including the introduction of Bally Bet Sportsbook across multiple states and Bally Casino in Rhode Island.
The updated Bally Bet Sportsbook & Casino app represents a major step forward, as it combines the functionalities of the existing Bally Casino app and Bally Bet Sportsbook app into one comprehensive platform. Powered by White Hat Gaming, this new app allows players residing in or traveling to Ontario to conveniently place wagers on both sports and casino games using a single app, account, and universal wallet.
“We are thrilled to introduce the new Bally Bet Sportsbook & Casino app, marking a significant milestone for Bally’s. This integrated platform merges the features of our previous apps, providing players in Ontario with a seamless experience for both sports and casino betting. Our commitment to enhancing the player experience remains at the forefront as we strive to personalize the enjoyment of playing Bally Bet,” said Robeson Reeves, CEO of Bally’s Corporation.
BCLC reminds adults to gift responsibly this holiday season
With the holiday season in full swing, BCLC is reminding British Columbians to gift responsibly and scratch lottery products from their shopping lists for kids.
“Scratch & Win tickets can make great stocking stuffers for the adults in your life, but they’re not for kids,” said Ryan McCarthy, BCLC’s Director of Player Health. “The research shows that children who have early encounters with gambling are four times more likely to develop riskier gambling behaviour as they grow up. While people are out shopping for those last-minute gifts, BCLC wants adults to be aware of the potential risks associated with gifting lottery products to children and to consider safer alternatives.”
While Scratch & Win tickets are among the most common ways kids can be introduced to gambling, children are increasingly exposed to various online forms, such as gambling streams.
“With the convergence of gaming and gambling, youth are becoming more exposed to gambling content in online spaces like streaming sites, where creators are able to live-stream their own gambling, usually while playing online slots and instant games,” said Dr. Luke Clark, Director for Gambling Research at UBC. “Our research at the UBC Centre for Gambling shows that a higher frequency of watching online gambling streams is associated with a more positive attitude towards gambling and a high intention to gamble in the future.”
In B.C., it is illegal to sell lottery products to anyone under the age of 19 and BCLC encourages adults to have conversations with the kids in their lives about the risks associated with gambling.
“Open and honest conversations are crucial when it comes to navigating childhood exposure to gambling,” said McCarthy, who shared the following tips to adults:
- Monitor for gambling-related lifestyle changes. For example, developing a positive attitude towards gambling or a preoccupation with video games or streaming sites.
- Be a positive role model. Exhibit safer gambling behaviour and talk about the risks.
- Limit exposure. Monitor kids’ online activities and discourage engagement with gambling content. Explain how gambling is based on chance.
Jackpot Digital Inc., a leading provider of innovative dealerless electronic poker gaming solutions, has announced that the Alcohol and Gaming Commission of Ontario (AGCO) has approved the Company to be licensed as a registered Gaming Related-Supplier (the “Supplier License”) under the Gaming Control Act in the Province of Ontario.
This significant achievement allows Jackpot Digital to enter one of the most dynamic and rapidly growing regulated gaming markets in North America. The Supplier License authorizes Jackpot Digital to supply its electronic table games to Ontario’s gaming venues, including casinos and other regulated gaming facilities.
Jackpot Digital’s flagship product, the Jackpot Blitz electronic table game system, offers a modern, dealerless, player-friendly solution that integrates traditional multiplayer poker games with cutting-edge digital technology. The Supplier License will enable the Company to offer its innovative gaming solutions to operators throughout Ontario, driving new revenue opportunities and enhancing player experiences.
“Receiving AGCO’s approval is a major milestone. This approval provides us with the opportunity to offer our top-tier electronic gaming systems to operators throughout all of Ontario, positioning us for further growth in one of the world’s most robust gaming markets. We are excited to bring our innovative products to Ontario’s gaming community and continue our commitment to providing exciting, technology-driven entertainment experiences,” said Jake Kalpakian, CEO of Jackpot Digital.
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