NEW YORK, Oct. 2, 2023 /PRNewswire/ — The sports betting market is estimated to grow by USD 139.26 billion from 2022 to 2027, growing at a CAGR of 10.09%. The sports betting market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer sports betting market are 888 Holdings Plc, Bet365 Group Ltd., BetOnline, Betsson AB, Bettilt, Caesars Entertainment Inc., Chancier BV, Churchill Downs Inc., DraftKings Inc., Entain Plc, Flutter Entertainment Plc, Kindred Group Plc, LeoVegas AB, Parimatch, Penn Entertainment Inc., Sportech Plc, SportsBetting.ag, The Betway Group, The Hong Kong Jockey Club, and Webis Holdings Plc. The report provides a full list of key companies, their strategies, and the latest developments. Download a FREE Sample before buying
Technavio has announced its latest market research report titled Global Sports Betting Market 2023-2027
Company Offering:
888 Holdings Plc – The company offers sports betting activity which is designed to predict sports results by placing a wager on the outcome.
Bet365 Group Ltd. – The company offers the Bet 365 app which is designed to keep track of sports betting activities with the provision of visual dashboard details showing statistics, recent bet times, and a graphical representation of account history.
BetOnline – The company offers online sports betting activity in which various sports matches are being played online by placing wagers on risk-based for the chance of winning money.
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By Geography, the market is classified as APAC, Europe, North America, South America, and Middle East and Africa. APAC will have the largest share of the market. APAC is estimated to account for 35% of the global market growth. China and Australia are the key markets for sports betting in the region. The rise in demand for online games and fantasy sports platforms such as Dream11, a brand of Sports Technologies Pvt. Ltd., facilitates the sports betting market growth in APAC over the forecast period. The ever-increasing presence of digital platforms, the adoption of online betting, and the presence of key countries such as China are some of the major reasons for the growth of the market in the region. The growth in demand for online games and fantasy sports platforms such as Dream11, a brand of Sports Technologies Pvt. Ltd., contributes significantly to the growth of the regional market. In emerging nations of APAC, betting is carried out in various sports, including cricket, horse racing, and soccer. There are differences in regulations from country to country. For instance, China has various forms of betting, including sports betting, lottery, and casino games. Furthermore, the increasing demand for online sports betting services among countries in APAC is expected to fuel the growth of the sports betting market in the region during the forecast period. Download a FREE sample report to get more insights on the market share of various regions and the contribution of the segments.
Impactful driver- Legalization of sports betting
Key Trend – Rising consolidation
Major Challenges – Socioeconomic impact of sports betting
By Type, the market share growth by the online segment will be significant during the forecast period.
Technavio Research experts have provided more insights on the market share of segments – View a FREE Sample Report
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TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Platform
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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