Global Sports Betting Market | Share, Size, Analysis, Trends, Segments And Emerging Technologies
Sports Betting Market Overview:
The Sports Betting market research gives a detailed view of the competition, including the market share and company profiles of the major competitors in the global industry. The scope of the research includes a comprehensive examination of the Sports Betting Market, as well as the reasons for variations in the industry’s growth in various locations.
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Global Sports Betting Market size was valued at US$ 142.68 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 8.84% through 2022 to 2029, reaching nearly US$ 280.99 Bn.
Market Scope:
Following the completion of market engineering, which included calculations for market statistics, estimations of market size, market forecasts, market breakdown, and data triangulation, significant primary research was done to acquire information and verify and validate important numbers. To undertake market estimating and forecasting for the overall market segments and sub-segments described in this research, top-down and bottom-up techniques, as well as many data triangulation methodologies, were often employed throughout the market engineering process. Extensive qualitative and quantitative analysis is performed on all facts obtained over the whole market engineering process in order to provide essential information throughout the report.
Drivers:
The idea of sports betting, as considered illegal by regulatory bodies, is witnessing an epochal scale of change as the effective sports betting landscape begins carrying real value to the economies of numerous countries. Online sports betting on mobile devices has risen during the forecast period as a result of rising smartphone penetration, acceptance of video streaming, and instant messaging services. By involving end users in online betting activities that have the least impact on daily activities, the rapidly expanding penetration of Internet-based devices like smartphones and tablets increases contact time with end users.
Segmentation:
The market is divided into Online and Offline segments based on the Platform. The demand for real-time sports streaming is anticipated to rise during the forecast period due to the increase in Internet speeds and the high compatibility of mobile devices. As a result, it is anticipated that the majority of players will switch to mobile sports streaming, ultimately expanding the sports betting market. Key players have been inspired to innovate and develop online betting applications with alluring offers for participation on betting sites in order to increase their footprint in the global sports betting market through the development of their product portfolios as a result of an increase in end-user preference for betting through online platforms across the globe.
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Key Players:
Primary and secondary research is used to identify market leaders, while primary and secondary research is utilized to determine market revenue. Primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary research included a review of the leading manufacturers’ annual and financial reports, whereas primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary sources are utilized to compute percentage splits, market shares, growth rates, and global market breakdowns, which are then checked using primary data.
The biggest players in the Sports Betting market are as follows:
• Bet 365 Group Ltd.
• GVC Holding plc.
• The Stars Group
• Paddy Power Betfair plc.
• William Hill plc.
• Fortuna Entertainment Group
• Betfred Ltd.
• mybet Holding
• Hong Kong Jockey Club
• Kindred Group.
• 888 Holdings
• Kindred Group
• Amaya gaming Bet-at-home.com
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Regional Analysis:
Individual market influencing components and changes in market regulations affecting the present and future market trends are also included in the regional overview of the Sports Betting market analysis. Current and future trends are researched in order to assess the entire market potential and identify profitable patterns in order to get a stronger foothold. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Sports Betting Market:
End-user industries where Sports Betting are utilised saw a dip in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a pause in operations. This resulted in a significant decrease in the revenues of businesses working in these industries and, as a result, in demand for Sports Betting manufacturers, influencing the development of the Sports Betting market in 2020. End-user business demand for Sports Betting has declined significantly as a result of lockdowns and an increase in COVID-19 events worldwide.
Key Questions Answered in the Sports Betting Market Report are:
- In 2021, which segment held the highest proportion of the Sports Betting market?
- What is the Sports Betting market’s competitive landscape?
- What are the primary drivers assisting Sports Betting market growth?
- Which region has the most market share in the Sports Betting market?
- What will be the Sports Betting market’s CAGR throughout the projected period (2022-2027)?
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