雅虎香港財經 Sports Betting Market size to grow by USD 139.26 billion from 2021 to 2026, 35% of the market growth to originate from APAC - Technavio
NEW YORK, June 20, 2023 /PRNewswire/ -- The sports betting market size is expected to grow by USD 139.26 billion during 2022 to 2027, progressing at a CAGR of 10.09% as per the latest Technavio market research report. 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 Sporta 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 Sporta 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. For more insights on the market share of various regions- Download sample report in MINUTES
Sports Betting Market: Digital revolution to drive growth
A key factor driving the global sports betting market growth is the digital revolution.
Due to the recent global digital revolution, cloud platforms are preferred to store data, and there has been a burgeoning increase in online transactions and payments among commercial as well as retail users.
The sports betting landscape has fundamentally changed, and the global sports betting market has shifted toward online or virtual applications and platforms because of extensive digitalization.
With the rapid adoption of the internet and the availability of various mobile apps and online platforms, modern consumers can easily engage in sports betting and conveniently connect with sportsbooks.
Hence, the growth of digital platforms and the increasing Internet penetration have given consumers easy access to online sports betting platforms, which will drive the growth of the market growth during the forecast period.
Sports Betting Market: Emergence Of Machine Learning In Sports Betting
A key sports betting market trend that is expected to impact the market growth positively in the forecast period is the emergence of machine learning, blockchain, virtual reality, and AI in sports betting.
Major vendors in the market increasingly focus a significant part of their investments in machine learning tools and methods, which have shown promising results in prediction.
Machine learning helps to build predictive algorithms and accurate predictive models for improved betting efficiency and as the global sports betting market evolves, it is necessary for consumers to find useful strategies and accurate predictions to increase their efficiency.
Sports bettors are expected to growingly become familiar with new machine learning algorithms that attempt to predict the outcomes of games and races.
Hence, the emergence of machine learning is expected to further support the sports betting market growth during the forecast period.
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Some of the key Sports Betting Market Players:
The sports betting market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
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 are some of the major players in the market.
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Sports Betting Market: Segmentation Analysis
This market research report segments the sports betting market by platform (online and offline), type (basketball, horse riding, football, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa).
The market share growth by the online segment will be significant during the forecast period. Due to the extensive digitalization and rising smartphone penetration, regions such as APAC and MEA are estimated to offer a huge scope of growth for the online segment. The growth can be attributed to factors such as the expansion of the betting market due to continuous product development and innovation , growing penetration of the Internet and smartphones , structural migration of customers from retail to online , and continuous improvement in the quality of platforms available, with betting applications providing a convenient user experience to customers.
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Sports Betting Market Scope | |
Report Coverage | Details |
Base year | 2022 |
Historic period | 2017-2021 |
Forecast period | 2023-2027 |
Growth momentum & CAGR | Accelerate at a CAGR of 10.09% |
Market growth 2023-2027 | USD 139.26 billion |
Market structure | Fragmented |
YoY growth 2022-2023 (%) | 9.76 |
Regional analysis | APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution | APAC at 35% |
Key countries | US, China, Australia, Germany, and Italy |
Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled | 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 |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of contents:
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global sports betting market 2017 - 2021
4.2 Platform Segment Analysis 2017 - 2021
4.3 Type Segment Analysis 2017 - 2021
4.4 Geography Segment Analysis 2017 - 2021
4.5 Country Segment Analysis 2017 - 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by Platform
6.1 Market segments
6.2 Comparison by Platform
6.3 Online - Market size and forecast 2022-2027
6.4 Offline - Market size and forecast 2022-2027
6.5 Market opportunity by Platform
7 Market Segmentation by Type
7.1 Market segments
7.2 Comparison by Type
7.3 Basketball - Market size and forecast 2022-2027
7.4 Horse riding - Market size and forecast 2022-2027
7.5 Football - Market size and forecast 2022-2027
7.6 Others - Market size and forecast 2022-2027
7.7 Market opportunity by Type
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 APAC - Market size and forecast 2022-2027
9.4 Europe - Market size and forecast 2022-2027
9.5 North America - Market size and forecast 2022-2027
9.6 South America - Market size and forecast 2022-2027
9.7 Middle East and Africa - Market size and forecast 2022-2027
9.8 China - Market size and forecast 2022-2027
9.9 US - Market size and forecast 2022-2027
9.10 Germany - Market size and forecast 2022-2027
9.11 Australia - Market size and forecast 2022-2027
9.12 Italy - Market size and forecast 2022-2027
9.13 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.1 Overview
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 888 Holdings Plc
12.4 Bet365 Group Ltd.
12.5 BetOnline
12.6 Betsson AB
12.7 Caesars Entertainment Inc.
12.8 Churchill Downs Inc.
12.9 DraftKings Inc.
12.10 Entain Plc
12.11 Flutter Entertainment Plc
12.12 Kindred Group Plc
12.13 LeoVegas AB
12.14 Penn Entertainment Inc.
12.15 Sportech Plc
12.16 The Betway Group
12.17 The Hong Kong Jockey Club
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
About Technavio
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