Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Canada

Sports Betting Market to Rise at a CAGR of 9.1% during Forecast Period, notes TMR Study

Published

on

 

Transparency Market Research Inc. – The sports betting market size stood at US$ 279.5 Bn in 2021 and is likely to reach value of US$ 664.0 Bn by 2031. The global industry is anticipated to develop at a CAGR of 9.1% between 2022 and 2031. Predicting sports results and making a bet on the result is known as sports betting.

Growing popularity of sports around the globe is driving in sports betting among the younger generation alongside professional gamblers. The statistics for the sports betting sector are improving due to the increased use of cellphones, implementation of favorable government rules, widespread adoption of the internet, and an upsurge in online gambling.

Key players are using persuading marketing techniques, such as sign-up incentives for new customers and risk-free wagering for a predetermined period, to entice sports fans to place bets. Additionally, companies are receiving new system orders from high-growth countries including Asia Pacific and North America since more urban residents are gaining interest in sports betting.

Sports betting bookies are currently focusing on boosting their R&D efforts and using advanced facilities in order to develop distinctive betting features. It is predicted that this would drive business opportunities in the global sports betting industry.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Sports betting is becoming more popular all over the world due to rise in sports lovers. One of the rapidly growing industries is the gambling industry. Sports betting is being considered for legalization in many countries and this is anticipated to increase market demand for sports betting in the coming years. Sports gamblers use bookies or legal means to put their bets. Both internet and physical betting platforms are available for placing bets, which is anticipated to raise market value of sports betting.

The bulk of bets are placed on sports including football, basketball, American soccer, mixed martial arts, baseball, track cycling, boxing, car racing, and hockey, and boxing. While football betting is well-liked in North America and South America, online cricket betting has begun to gain traction in Asia Pacific.

Market Snapshot:

 Report Coverage  Details
 Market Revenue  US$ 279.5 Bn
 Estimated Value  US$ 664.0 Bn
 Growth Rate – CAGR  9.1%
 Forecast Period  2022-2031
 No. of Pages  136 Pages
 Market Segmentation  Game Type, Betting Type, Platform
 Regions Covered  North America, Europe, Asia Pacific, Middle East & Africa, South America
 Companies Covered  888 Holdings plc., BETSSON AB, Fortuna Entertainment Group a.s. (FEG), Entain, Gal Sports Betting (U) Limited, Kindred Group plc, Flutter, Betway, Bet365, TechSolutions Group N.V

Key Findings of Market Report

  • In terms of betting type, the fixed-odds segment is expected to account for a sizable market share due to an upsurge in successful outcomes. The risk of fixed-odds betting is also smaller than that of pari-mutuel betting as a result of the ease with which risk is assessed. This is anticipated to drive business growth in the fixed-odds segment during the forecast period.
  • In terms of game type, the cybersports segment is likely to account for sizeable market share. This is due to expansion of the e-sports business across the globe and convenience of placing bets online via smartphones in place of doing it physically.

Global Sports Betting Market: Growth Drivers

  • The rapid increase in use of internet-connected gadgets, such as tablets and smartphones, is fueling a boom in online betting worldwide. Gamblers who watch live betting have the chance to make quick decisions that, if they bet well, might guarantee them substantial gains. Consequently, it is anticipated that mobile devices like tablet computers and smartphones that support live betting would have a significant positive impact on the market for sports betting.
  • The vast majority of people watched only a few sports earlier, primarily football and basketball. However, other sports are starting to gain popularity all over the world. Table tennis, boxing, horse racing, cricket, hockey, and rugby are a few of these. Therefore, there are now more games accessible for wagering, which is likely to drive market development.

Global Sports Betting Market: Regional Landscape

  • Asia Pacific, which dominated the global industry in 2021, has seen a significant increase in the number of people who engage in betting as a pastime. The region has a large number of market players, which makes it one of the most desirable regions. China is expected to be a desirable location for business, while Japan offers tremendous potential for sports betting.

Global Sports Betting Market: Key Players

Some of the key market players are

  • Kindred Group plc.
  • 888 Holdings plc.
  • Fortuna Entertainment Group a.s. (FEG)
  • TechSolutions Group N.V.
  • Gal Sports Betting (U) Limited
  • BETSSON AB

Global Sports Betting Market: Segmentation

Game Type

  • Cybersports
  • Table Tennis
  • Football
  • Basketball
  • Baseball
  • Hockey
  • Cricket
  • Boxing
  • Others

Betting Type

  • Pari-mutuel
  • Fixed-Odds

Platform

  • Online
  • Offline

Regions

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America
Continue Reading
Advertisement

Bally Bet Sportsbook & Casino app

Bally’s Interactive Launches the New Bally Bet Sportsbook & Casino App in Ontario

Published

on

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.

Continue Reading

BCLC

Be #GiftSmart: Scratch the Idea of Gifting Scratch & Win Tickets to Kids

Published

on

be-#giftsmart:-scratch-the-idea-of-gifting-scratch-&-win-tickets-to-kids

 

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.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“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.
Continue Reading

AGCO

Jackpot Digital Receives Approval from AGCO as a Registered Gaming Supplier

Published

on

jackpot-digital-receives-approval-from-agco-as-a-registered-gaming-supplier

 

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.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Trending