Middle East and Africa Sports Betting Market – Industry Trends and Forecast to 2031

Middle East and Africa Sports Betting Market, By Type (Line-In-Play, Fixed Old Betting, Exchange Betting, Daily Fantasy, Spread Betting, E-Sports, and 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, and Baby Boomers) – Industry Trends and Forecast to 2031.

Middle East and Africa Sports Betting Market Analysis and Size

The sports betting market continues to evolve with technological advancements, offering enhanced user experiences and a wider array of betting options. From live betting to mobile apps, innovations cater to diverse preferences, fueling the market growth. Integrating AI and data analytics further refine predictions, elevating the excitement and engagement for enthusiasts worldwide.

For instance, in September 2023, Betsson, a global gaming operator, debuted in the French online betting market through a partnership with a local entity. This strategic move positions Betsson to actively engage in the French sports betting sector, culminating in the official launch of its flagship brand in the fourth quarter of 2023.

Data Bridge Market Research analyses that the Middle East and Africa sports betting market size was valued at USD 6.33 billion in 2023, is projected to reach USD 12.07 billion by 2031, with a CAGR of 8.4% during the forecast period 2024 to 2031. 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.

Report Scope and Market Segmentation

Market Definition

Sports betting involves financial speculation on the outcomes of individual games, events within games, or entire seasons across various sports. Participants aim to predict results to secure winnings and potentially generate profits. Major American leagues such as the NFL, NHL, NBA, and MLB are commonly included alongside a diverse array of European and international sports, making online sportsbooks an attractive option for bettors worldwide, irrespective of their geographic location.

Sports Betting Market Dynamics

Drivers

• Growth of Online Betting

The surge in smartphone usage and internet accessibility has propelled the expansion of online sports betting. With diverse betting options and instant updates, digital platforms elevate the betting experience. This growth underscores the convenience and appeal of online betting, fostering a dynamic landscape for enthusiasts worldwide.

For Instance, in 2020, mobile devices generated approximately 70% of online betting revenue, as revealed by a survey conducted by Uplatform, a prominent sports betting and casino operating platform. This underscores the dominance of mobile in the online betting landscape.

• Growing Popularity of Sports Events

Major sporting events such as the FIFA World Cup, Super Bowl, Olympics, and NBA Finals draw global audiences, fueling heightened betting activity. These events catalyze increased betting volumes, boosting revenues for operators. The widespread interest and intense competition make them prime opportunities for sports betting engagement and profitability.

Opportunities

• Sports Betting Integration with Entertainment

Sports betting increasingly merges with mainstream entertainment, fostering partnerships among leagues, teams, and operators. This integration broadens its appeal and attracts diverse demographics. Collaborations between these entities amplify the visibility of sports betting, positioning it as a culturally relevant and accessible form of entertainment for a wider audience.

• Growing Cross-Border Betting

Cross-border betting via online platforms creates opportunities by expanding market reach globally, enhancing liquidity, and diversifying available betting options. This globalization fosters increased engagement among users, leading to higher revenue potential for operators. Through transcending geographical barriers, cross-border betting drives innovation and competitiveness, fueling growth in the market.

For instance, as of January 2023, sports betting is legal in 36 U.S. states, an increase from 32 in 2021. In the first ten months of 2022, users legally wagered approximately USD 73 billion on sports in the U.S., highlighting the market rapid expansion and substantial revenue generation.

Restraints/Challenges

• Rising Concern about Gambling Addiction

Failure to manage addiction risks could undermine market credibility, limiting expansion. Concerns over responsible gambling cast shadows on the sports betting market, potentially hindering growth. Addressing these issues with proactive measures is crucial for the industry's sustainability and reputation, ensuring a balanced approach to entertainment while minimizing harm to vulnerable individuals.

• Challenges in Payment Processing

Payment processing for sports betting faces complexities due to strict regulations, banking constraints, and fraud risks. Compliance with varying laws, limited banking partnerships, and the need for robust security measures add hurdles. Balancing regulatory demands, securing reliable payment channels, and mitigating fraud are ongoing challenges for operators in this industry.

This 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 market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In September 2023, Betsson secured a license to conduct online sports betting in France's regulated market, partnering with a local entity. Launching in Q4 2023, the venture under the Betsson banner aimed to tap into the French market's potential
• In March 2023, OpenBet expanded its U.S. presence with a day-one launch in Massachusetts, bolstering its sports betting offerings. This strategic move further solidified OpenBet's foothold in the competitive American sports betting landscape
• In September 2022, Entain Plc collaborated with industry giants such as Bally’s Corporation, BetMGM, DraftKings, FanDuel, and MGM Resorts International to introduce Responsible Gaming Principles, fostering a culture of responsible gambling and bolstering brand reputation globally
• In September 2021, Nuvei Corporation partnered with 888 Holdings Plc to deliver its Instant Bank Transfer payment solution to SI Sportsbook, enriching the payment options available on the newly launched online sports betting platform

Sports Betting Market Scope

The market is segmented on the basis of type, platform, operator, sports, and age group. 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.

Type

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

 Platform

• Online
• Offline

 Sports

• Racing
• 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
• Others

 Age Group

• GEN Z
• GEN Y/MILLENIALS
• GEN X
• Baby Boomers

Middle East and Africa Sports Betting Market Regional Analysis/Insights

The market is analyzed and market size insights and trends are provided by type, platform, operator, sports, and age group as referenced above.

The countries covered in the sports betting market report are U.A.E, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, and Rest of Middle East and Africa.

South Africa is expected to dominate the market in terms of both market share and revenue, continuing its dominance due to the high demand for verification and validation of medical devices in the country.

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 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 market.

Some of the major players operating in the market are:

• BETSSON AB (Sweden)
• Flutter Entertainment plc (Ireland)
•  888 Holdings Plc (U.K.)
• Entain (U.K.)
•  Kindred Group plc (Malta)
•  MGM Resorts International (U.S.)
•  Wynn Resorts Holdings, LLC. (U.S.)
•  NOVIBET (U.K.)
•  Galaxy Entertainment Group Limited (Hong Kong)
•  Resorts World at Sentosa Pte. Ltd. (Singapore)
•  Sun International (South Africa)
•  SKY INFOTECH (India)
•  Peermont Global Proprietary Limited (South Africa)
•  SJM Holdings Limited (Hong Kong)
•  Sportradar AG (Switzerland)
•  FanUp, Inc. (U.S.)
•  Rivalry Limited (Canada)
•  EveryMatrix. (Malta)
•  Kairos Group (Malta)
•  BETAMERICA (U.S.)
•  Scientific Games (U.S.)
• ComeOn Group (Malta)