Sports Betting Market Expands with Demand for Online Gaming Platforms and Mobile Accessibility
Sports Betting Market Expands with Demand for Online Gaming Platforms and Mobile Accessibility
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Sports Betting Market Size And Forecast by 2031
Data Bridge Market Research analyses that the Global Sports Betting Market which was USD 160.73 Billion in 2023 is expected to reach USD 325 Billion by 2031 and is expected to undergo a CAGR of 9.20% during the forecast period of 2023 to 2031
Sports Betting Market research report provides a comprehensive analysis of the market. The report aims to provide insights into Sports Betting Market trends, growth opportunities, key drivers and challenges, competitive landscape, and other crucial factors that may impact the market in the forecast period (2024-2031).
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Which are the top companies operating in the Sports Betting Market?
The study report on the Global Sports Betting Market offers a comprehensive analysis of the industry, highlighting key trends, market dynamics, and competitive landscape. It profiles prominent organizations operating in the market, examining their successful strategies and market share contributions. This Sports Betting Market report provides the information of the Top 10 Companies in Sports Betting Market in the market their business strategy, financial situation etc.
The global sports betting market is experiencing significant growth due to increasing popularity of sports events, rise in disposable income, advancements in online betting platforms, and the legalization of sports betting in several regions. The market is segmented based on the type of sports, platform, and region.
**Segments:**
- **Sports Type**: The sports betting market is segmented based on the type of sports, including football/soccer, basketball, baseball, horse racing, and others. Football/soccer remains the most popular choice among bettors globally, followed by basketball and baseball.
- **Platform**: The market also has segments based on the platform, comprising online betting and offline betting. Online betting platforms have been witnessing rapid growth due to increasing internet penetration, availability of mobile betting apps, and convenience for users to place bets from anywhere.
- **Region**: Geographically, the sports betting market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America, particularly the United States, is a key market due to the recent legalization of sports betting in several states. Europe also holds a significant market share, with countries like the UK having a well-established sports betting industry.
**Market Players:**
- **William Hill**: A prominent player in the sports betting market, offering a wide range of sports betting options and operating both online and offline betting platforms.
- **Bet365**: Known for its innovative online betting platform and extensive coverage of sports events, Bet365 is a major player in the global sports betting market.
- **DraftKings**: A leading online sports betting and daily fantasy sports provider, DraftKings has been expanding its market presence through partnerships and mergers.
- **888 Holdings**: With a focus on online sports betting and casino games, 888 Holdings is a key player in the market, known for its user-friendly interface and competitive odds.
- **Flutter Entertainment**: Through its brands like Paddy Power and Betfair, Flutter Entertainment has a strong presence in theThe global sports betting market is indeed experiencing significant growth driven by various factors such as the increasing popularity of sports events, rising disposable income among consumers, advancements in online betting platforms, and the legalization of sports betting in multiple regions. The market segmentation based on sports types reveals football/soccer as the most preferred choice for bettors worldwide, followed closely by basketball and baseball. Football's popularity can be attributed to its widespread appeal and fan base globally, leading to higher betting activities in this category. Basketball and baseball also hold substantial market shares due to their popularity in regions like North America and Asia.
When considering the platform segment, online betting has emerged as a dominant force in the market, witnessing rapid growth propelled by factors such as the increasing internet penetration, the proliferation of mobile betting apps, and the convenience it offers to users to place bets from anywhere. The ease of access and user-friendly interfaces of online platforms have contributed to their popularity among bettors, leading to a shift from traditional offline betting methods. As a result, online betting platforms are expected to continue their growth trajectory in the coming years, capturing a larger market share within the sports betting industry.
Geographically, the segmentation of the sports betting market into regions highlights North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa as key areas of focus. North America, particularly the United States, stands out as a significant market due to the recent wave of legalization of sports betting in several states, opening up new opportunities for operators and enticing a larger consumer base. Europe, with countries like the UK known for their well-established sports betting industry, also commands a considerable market share, driven by a culture that embraces sports and betting activities.
In terms of market players, several key players dominate the global sports betting landscape with their unique offerings and market strategies. William Hill, a renowned name in the industry, stands out for its wide range of sports betting options and dual presence in online and offline platforms. Bet365, known for its innovative online platform**Market Players:**
- **BETSSON AB (Sweden)**
- **FORTUNA ENTERTAINMENT GROUP (Czech Republic)**
- **LAS VEGAS SANDS CORPORATION (U.S.)**
- **Flutter Entertainment plc (Ireland)**
- **888 Holdings Plc (U.K.)**
- **Entain (U.K.)**
- **Kindred Group plc (Sweden)**
- **MGM Resorts International (U.S.)**
- **Wynn Resorts Holdings LLC. (U.S.)**
- **NOVIBET (Greece)**
- **Galaxy Entertainment Group Limited (Hong Kong)**
- **Resorts World at Sentosa Pte. Ltd. (Singapore)**
- **Sun International (South Africa)**
- **RTSmunity a.s. (Slovakia)**
- **Sky Infotech. (India)**
- **Peermont Global Proprietary Limited (South Africa)**
- **SJM Holdings Limited (Macau)**
- **Sportradar AG (Switzerland)**
- **FanUp Inc. (U.S.)**
- **Rivalry Ltd. (copyright)**
- **EveryMatrix (Malta)**
- **Kairos Group (U.K.)**
- **BETAMERICA (U.S.)**
- **Scientific Game (U.S.)**
- **ComeOn Group (Malta)**
The global sports betting market is
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Regional Analysis For Sports Betting Market
North America (the United States, copyright, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
Why B2B Companies Worldwide Rely on us to Grow and Sustain Revenues:
- Get a clear understanding of the Sports Betting Market, how it operates, and the various stages of the value chain.
- Understand the current market situation and future growth potential of the Sports Betting Market throughout the forecast period.
- Strategize marketing, market-entry, market expansion, and other business plans by understanding factors influencing growth in the market and purchase decisions of buyers.
- Understand your competitors’ business structures, strategies, and prospects, and respond accordingly.
- Make more informed business decisions with the help of insightful primary and secondary research sources.
This report provides Global Sports Betting Market :
- An in-depth overview of the global market for
- Sports Betting Market Assessment of the global industry trends, historical data from 2015, projections for the coming years, and anticipation of compound annual growth rates (CAGRs) by the end of the forecast period.
- Discoveries of new market prospects and targeted marketing methodologies for Global Sports Betting Market
- Discussion of R&D, and the demand for new products launches and applications.
- Wide-ranging company profiles of leading participants in the industry.
- The composition of the market, in terms of dynamic molecule types and targets, underlining the major industry resources and players.
- The growth in patient epidemiology and market revenue for the market globally and across the key players and Sports Betting Market segments.
- Study the market in terms of generic and premium product revenue.
- Determine commercial opportunities in the market sales scenario by analyzing trends in authorizing and co-development deals.
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