Global Sports Betting Market Size, Share, Growth Analysis, By Platform(online and offline), By betting type(Fixed Odds Wagering, Exchange Betting)

Description

Global Sports Betting Market size was valued at USD 83.65 billion in 2022 and is poised to grow from USD 92.27 billion in 2023 to USD 202.14 billion by 2031, at a CAGR of 10.3% during the forecast period (2024-2031).

The need for sports betting is fueled by the proliferation of connected devices, the increasing popularity of linked devices, and the development of digital infrastructure. Owing to global sports prohibitions, the COVID-19 pandemic had a profound effect on the sports sector. On the other hand, the global popularity of online sports betting has increased due to eSports betting. Technology had a huge impact on every industry. But the industry that suffered the most was gambling, and the major bookmakers are putting a lot of effort into making their sites easy to use and entertaining. Thus, the increasing need for digitalization is expected to have an effect on the market's online segment, which is expected to increase significantly throughout the forecast period.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Sports Betting Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Sports Betting Market Segmental Analysis

The sports betting market is segmented on the basis of platform and betting type. On the basis of platform Sports Betting Market is segmented into online and offline. betting type is segmented into Fixed Odds Wagering, Exchange Betting, Live/In Play Betting, Pari-mutuel, eSports Betting, Others. Based on Region Sports Betting Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Drivers of the Global Sports Betting Market

Internet gambling is available in many countries, with sports betting being the most popular option among youth. It is available in many countries where it is either legal or illegal to gamble on sports, and it even reaches non-sports fans. While land-based sports bettors are commonly 45 years old, online bettors are typically 38 years old. It is projected that the population's increasing interest in sports betting will support the market's growth.

Restraints in the Global Sports Betting Market

Government laws connected to sports are the main market barriers that will hinder the expansion of the sports betting industry. Concerns about illegal sports betting are anticipated to provide a threat to the industry for the duration of the projected period.

Market Trends of the Global Sports Betting Market

The number of sports leagues and events is increasing, as is the need for the sports betting industry. Customers can increase their wagering amount if more professional sports leagues are formed globally. As a result, the sports betting market is expanding exponentially thanks to global sports leagues and competitions.

Product Code: SQMIG25N2002

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Sports Betting Market by Platform

Market Overview
online and offline

Global Sports Betting Market by betting type

Market Overview
Fixed Odds Wagering
Exchange Betting
Live/In Play Betting
Pari-mutuel
eSports Betting
and Others

Global Sports Betting Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2023
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2023

Key Company Profiles

William Hill plc (UK)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
GVC Holdings plc (UK)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Paddy Power Betfair plc (Ireland)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Bet365 Group Ltd (UK)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Kindred Group plc (Malta)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
888 Holdings plc (Gibraltar)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Stars Group Inc. (Canada)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Betsson AB (Sweden)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Ladbrokes Coral Group plc (UK)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Flutter Entertainment plc (Ireland)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
DraftKings Inc. (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
FanDuel Group Inc. (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Betway Group (Malta)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Smarkets (UK)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Mansion Group (Gibraltar)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Interwetten (Austria)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Sky Betting & Gaming (UK)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Betfred (UK)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
NordicBet (Malta)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
10Bet Ltd. (Malta)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Sports Betting Market Size, Share, Growth Analysis, By Platform(online and offline), By betting type(Fixed Odds Wagering, Exchange Betting) - Industry Forecast 2024-2031