Sports betting involves wagering on the outcome of sporting events, with applications spanning online platforms and physical sportsbooks. Key features of sports betting include diverse betting markets, including point spreads, money lines, and totals. Users can place bets on various sports, enhancing their engagement with live events. Mobile apps offer convenience for on-the-go betting, and live in-play betting enables real-time wagers during matches. Sports betting serves as a form of entertainment, allowing enthusiasts to make predictions and potentially win monetary rewards based on their sports knowledge and intuition.
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Data Bridge Market Research analyses that the Global Sports Betting Market is valued at USD 1,47,199.91 million in 2022 and is expected to reach USD 2,97,638.20 million by 2030, registering a CAGR of 9.2% during the forecast period of 2023 to 2030. The legalization of sports betting in different regions opens up fresh markets and opportunities for betting operators. It provides a legal framework for them to operate within, allowing them to tap into previously restricted or underground markets and serve a broader customer base, ultimately driving growth in the industry.
Key Findings of the Study
In-play-betting is expected to drive the market's growth rate
Real-time or in-play betting options offer sports bettors the opportunity to place wagers while a game is in progress. This enhances the betting experience by adding an element of excitement and engagement. Punters can react to the game's dynamics and make informed decisions as the match unfolds, making it a more interactive and immersive experience. It also allows for a wider range of betting options, including prop bets and live odds adjustments, adding depth to the wagering experience.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Line-In-Play, Fixed Old Betting, Exchange Betting, Daily Fantasy, Spread Betting, E-Sports, Pari Mutuel), Platform (Online and Offline), Sports (Racing and Non Racing Sports), Operator (Casinos, Bingo Halls, Card Rooms, Bookmakers, Coin-Operated Gambling Device, Concession Operators, Video Gaming Terminals, Lotteries Operator, Off-Track Sports Betting, and Others), Age Group (GEN Z, GEN Y/MILLENIALS, GEN X, Baby Boomers).
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Countries Covered
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U.S., Canada, Mexico, Australia & New Zealand, Japan, South Korea, China, Singapore, Thailand, Philippines, Indonesia, Malaysia, India and Rest of Asia-Pacific, Italy, Germany, U.K., France, Spain, Netherlands, Turkey, Russia, Switzerland, Belgium, Luxemburg and Rest of Europe, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, Rest of Middle East and Africa
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Market Players Covered
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BETSSON AB (Sweden), FORTUNA ENTERTAINMENT GROUP A.S. (Czech Republic), LAS VEGAS SANDS CORPORATION (U.S.), bet365 (U.K.), Flutter Entertainment plc (Ireland), 888 Holdings Plc (U.K.), Entain (U.K.), Kindred Group plc (Malta), MGM Resorts International (U.S.), Wynn Resorts Ltd (U.S.), NOVIBET (U.K.), Galaxy Entertainment Group Limited (Hong Kong), Resorts World at Sentosa Pte. Ltd. (Singapore), Sun International (South Africa), RTSmunity a.s. (Czech Republic), SKY INFOTECH (India), Peermont Global Proprietary Limited (South Africa), SJM Holdings Limited (Hong Kong), Sportradar AG (Switzerland), FanUp, Inc. (U.S.), Rivalry Ltd. (Canada), EveryMatrix. (Malta), Kairos Group (Malta), BETAMERICA (U.S.), Scientific Game (U.S.), ComeOn Group (Malta)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.
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Segment Analysis:
The global sports betting market is segmented on the basis of type, platform, operator, sports, and age group.
- On the basis of type, the global sports betting market is segmented into line-in-play, fixed old betting, exchange betting, daily fantasy, spread betting, e-sports, pari mutuel, and others.
- On the basis of platform, the global sports betting market is segmented into online and offline.
- On the basis of sports, the global sports betting market is segmented into racing and non-racing sports.
- On the basis of operator, the global sports betting market is segmented into food grade, casinos, bingo halls, card rooms, bookmakers, coin-operated gambling device, concession operators, video gaming terminals, lotteries operator, off-track sports betting, and others.
- On the basis of age group, the global sports betting market is segmented into gen z, gen y, gen x, and baby boomers.
Major Players
Data Bridge Market Research recognizes the following companies as the major global sports betting market players in global sports betting market are BETSSON AB (Sweden), FORTUNA ENTERTAINMENT GROUP A.S. (Czech Republic), LAS VEGAS SANDS CORPORATION (U.S.), bet365 (U.K.), Flutter Entertainment plc (Ireland), 888 Holdings Plc (U.K.), Entain (U.K.), Kindred Group plc (Malta), MGM Resorts International (U.S.), Wynn Resorts Ltd (U.S.), NOVIBET (U.K.)
Market Developments
- In September 2022, Entain Plc has joined forces with Bally’s Corporation, BetMGM, DraftKings, FanDuel, and MGM Resorts International to introduce Responsible Gaming Principles. This initiative not only promotes responsible gaming but also enhances the brand image of these organizations on a global scale.
Regional Analysis
Geographically, the countries covered in the global sports betting market report are U.S., Canada, Mexico, Australia & New Zealand, Japan, South Korea, China, Singapore, Thailand, Philippines, Indonesia, Malaysia, India and Rest of Asia-Pacific, Italy, Germany, U.K., France, Spain, Netherlands, Turkey, Russia, Switzerland, Belgium, Luxemburg and Rest of Europe, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, Rest of Middle East and Africa
As per Data Bridge Market Research analysis:
Asia-Pacific dominates the global in sports betting market during the forecast period 2023 - 2030
In 2023, Asia-Pacific will dominate the global sports betting market due to the healthcare industry's focus on patient safety and quality drives the need for rigorous testing and verification processes. Additionally, as the healthcare sector continues to evolve with advancements in technology and innovation, there is an increasing demand for reliable and validated medical devices to meet the growing healthcare needs of the population. This combined demand for compliance, quality, and innovation fuels the need for robust verification and validation processes in the medical device sector.
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