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Global Sports Betting Market – Industry Trends and Forecast to 2029

  • FMCG
  • Upcoming Report
  • Jul 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Sports Betting Market, By Platform (Online, Offline), Type (Line-In-Play, Fixed Old Betting, Exchange Betting, Daily Fantasy, Spread Betting, E-Sports, Pari-Mutuel, Others), Sports Type (Football, Baseball, Basketball, Hockey, Cricket, Tennis, Golf, Boxing, Horse Riding, Auto Racing, Others), Application (Draw games, Instant Games, Lotto, Numbers Games, Others) – Industry Trends and Forecast to 2029

 

Sports Betting Market

Analysis and Size

Sports betting markets are similar to traditional financial markets in several aspects. Sports betting markets potentially have much in common with stock markets. Events on which wagers are made could be anything from more traditional activities such as dog or horse to sports like American football and soccer. Bets are normally made through bookmakers which is also known as sportsbooks. These bookmakers operate both as land-based establishments, such as at casinos or betting shops, and online.

Data Bridge Market Research analyses that the sports betting market was valued at USD 76.75 billion in 2021 and is expected to reach USD 167.66 billion by 2029, registering a CAGR of 10.26 % during the forecast period of 2022 to 2029. 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.     

Market Definition

Sports betting is the activity which is work for predicting sports results and then placing a wager on the outcome. The occurrence of sports bet upon differs by culture, with the vast mainstream of bets being placed on association such as mixed martial arts, American football, basketball, baseball, hockey, track cycling, auto racing, and boxing at both the personal and amateur levels. Sports betting can also prolong to non-athletic events, like politics election and reality show contests. This is also for non-human contests like greyhound racing, horse racing, and illegal, underground cockfighting.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Platform (Online, Offline), Type (Line-In-Play, Fixed Old Betting, Exchange Betting, Daily Fantasy, Spread Betting, E-Sports, Pari-Mutuel, Others), Sports Type (Football, Baseball, Basketball, Hockey, Cricket, Tennis, Golf, Boxing, Horse Riding, Auto Racing, Others), Application (Draw games, Instant Games, Lotto, Numbers Games, Others

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

william Hill (U.K.), Entain (U.K), 888 Holdings (Spain), Kindred Group plc (Malta), Flutter Entertainment plc (Ireland), The Stars Group Inc, (Canada), Bet365 (U.K.), Bet-at-home.com (Germany), BetAmerica (U.S.), Betfred (U.K.), Betsson (Sweden), Draft Kings (U.S), Fan duel (US), Gala coral group (U.K.), Ladbrokes (U.K.), Sportech PLC (U.K.), TVG (U.S.), Twinspires (U.S.), Watch and Wager (U.S.)

Market Opportunities

  • Increase in digital infrastructue
  • Increasing number of product innovations
  • Rise in strategic market activities

Sports Betting Market Dynamics

Drivers

  • Rising the usage of online betting

There are many areas where peoples involving in online gambling, especially sports betting, this attracts mostly the younger population. It also reaches to those population which do not follow the sports and is available in many countries where sport betting is legal or illegal. The average age group of an online sports bettor is 38 years whereas the average age of a land-based sports bettor is 45 years. Due to increasing population towards sports betting are expected to drive the market growth rate.

  • Growing digital infrastructure

The growth of digital infrastructure and the prevalence of wireless connectivity are expected to drive the sports betting market growth rate. The rising usage of smartphones has changed the way of performance of consumer’s activities especially in sports betting. There are around 6.3 billion smartphone users globally and this number is increasing every year which is the main reason for enhancing the population in sports betting market.

  • Shifting consumer habits

There has been a substantial change in the consumer behaviour regarding sports betting. The rise in the popularity of social gambling and gambling apps will drive the growth of the sports betting market during forecast period. Now, Vendors are taking advantage of those population which is using Internet to develop innovative social gambling games. The large number of people participating in social gambling which is also growing because of competing with their friends is the major reason for the gamers to adopt social gaming.

Opportunities

The large number of customers are engaging in leisure activities such as sports betting and try to seeking extra income with entertainment. Moreover, interactive games are gaining the interest of the young generation. Although a significant number of population is indulging in competitive matches for hobby, entertainment and income which attract large audiences which will act as market drivers and further boost opportunities for the market's growth rate.

Moreover, surge in purchasing power of middle-income groups, expansion of distribution channels, and rise in awareness regarding the products and smart strategic marketing activities will positively affect the growth of the sports betting market. Also, application of 5G networks, A.I. and block chain technologies extend the beneficial opportunities to the market players.

Restraints/ Challenges

Concerns about illegal activities in sports betting are anticipated to challenge the sports betting market during forecast period and stringent regulations which has imposed by the government regarding the sports are the major market restrains which will obstruct the sport betting market's growth rate.

This sports betting market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the sports betting market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Sports Betting Market

The majority of the younger population resides in developing economies during the Covid-19 pandemic has pushed the younger people towards spending more time on smartphones and digital devices which also favored the adoption of the sports betting market. During COVID-19 pandemic, most of the consumers moved towards internet platform to overcome their psychological, financial and social problem during lockdowns which had a favorable impact on the sports betting market.

Global Sports Betting Market Scope

The sports betting market is segmented on the basis of platform, type, sport type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Platform

  • Online
  • Offline

 Type

  • Line-In-Play
  • Fixed Old Betting
  • Exchange Betting
  • Daily Fantasy
  • Spread Betting
  • E-Sports
  • Pari-Mutuel
  • Others

Sports Type

  • Football
  • Baseball
  • Basketball
  • Hockey
  • Cricket
  • Tennis
  • Golf
  • Boxing
  • Horse Riding
  • Auto Racing
  • Others

Application

  • Draw games
  • Instant Games
  • Lotto
  • Numbers Games
  • Others

Sports Betting Market Regional Analysis/Insights

The sports betting market is analysed and market size insights and trends are provided by country, platform, type, sport type and application as referenced above.

The countries covered in the sports betting market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Europe dominates the sports betting market in terms of revenue during the forecast period. This is due to the increasing demand for sports betting in this region. Europe region leads the sports betting market because of the safety laws and regulations for online as well as offline betting in hregion

During the projected period, Asia-Pacific is anticipated to be the fastest developing region due to the increasing number of people betting on sports events for example, football, cricket, hockey, and basketball in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Sports Betting Market Share Analysis

The sports betting market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to sports betting market.

Some of the major players operating in the sports betting market are:

  • william Hill (U.K.)
  • Entain (U.K.)
  • 888 Holdings (Spain)
  • Kindred Group plc (Malta)
  • Flutter Entertainment plc (Ireland)
  • The Stars Group inc, (Canada)
  • Bet365 (U.K.)
  • Bet-at-home.com (Germany)
  • BetAmerica (U.S.)
  • Betfred (U.K.)
  • Betsson (Sweden)
  • Draft Kings (U.S.)
  • Fan duel (U.S.)
  • Gala coral group (U.K.)
  • Ladbrokes (U.K.)
  • Sportech PLC (U.K.)
  • TVG (U.S.)
  • Twinspires (U.S.)
  • Watch and Wager (U.S.)

Research Methodology: Global Sports Betting Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The stage includes the obtainment of market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.


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Frequently Asked Questions

On the basis of application, the Sports Betting Market is segmented into Draw games, Instant Games, Lotto, Numbers Games, & Others.
DBMR analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market.
The major players covered in the sports betting market reports are illiam Hill, GVC Holdings, 888 Holdings, Kindred Group, Paddy Power Betfair, Amaya gaming, Bet365 Group, Bet-at-home.com, BetAmerica, Betfred, Betsson, Draft Kings, Fan duel, Gala coral group, Ladbrokes, Sportech, TVG, Twinspires, Watch and Wager, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately.
The Sports Betting Market value is expected USD 167.66 billion by 2029.