islamistwatch.org : The value of the global sports betting market reached $76.75 billion in 2021, and this market is expected to reach $83.65 billion in the current year, 2022, growing at a compound annual growth rate (CAGR) of 10.2% from 2022 to 2030.
This is to estimate the size of the sports betting market by comparing stocks and trends by platform, type and type of sports, especially football, basketball, baseball, horse racing, cricket, hockey and others, according to Grand View research .
According to a report from the company, the demand for sports betting is due to factors such as organizational changes for all betting companies, the introduction of connected devices and the development of digital infrastructure.
The Corona virus has affected the sports sector due to the restrictions that have been placed on sports in many parts of the world. However, the popularity of online sports betting has increased during the sports betting epidemic.
The leading sports betting companies are working hard to improve their platforms and provide a better user experience as it is expected that the growing need for digitization will affect the online segment of the market which will see significant growth during the forecast period.
However, various governments are coordinating measures to provide consumers with new financial opportunities and experiences. For example, after the Supreme Court struck down the Professional and Amateur Athlete Protection Act (PASPA) in May 2018, 8 US states allowed sports betting.
The growth is part of the online platform that is expected to dominate the market by the end of the forecast period as it exhibits growth at an annual growth rate of 12.6%, while it can be said that expected growth in the increase of smartphones. and the global Internet.
The illegal betting segment dominates the market in 2021, accounting for a market share of more than 25%, while the esports betting segment is expected to grow at the fastest CAGR of 14.8% during the forecast period.
Many customers are involved in recreational activities such as sports betting and are looking for additional income in addition to entertainment. In addition, young people are interested in social sports, while many segments of the population are involved in competitive sports for fun, money and entertainment, and e-sports competitions attract a large audience.
Therefore, the market began to invest in opportunities in the form of online sports betting.
In terms of sports, the football event generates more money than other sports, accounting for more than 23% of the market, and is expected to double in the future.
Football accounts for 23% of sports betting worldwide
After football, the horse racing segment has held the second largest market share and is expected to grow at an annual growth rate of 10.3% during the forecast period, while the basketball and baseball segments are also expected to grow -growth of almost 10%. Asia-Pacific accounts for 30% of sports betting
Geographically, Asia-Pacific achieved a revenue share of around 30% in 2021 and is expected to maintain the highest annual rate during the forecast period.
The main factor that contributes to the development of the market is the presence of a high number of young people who play many types of sports, while betting is common in China and India.
For these reasons, customers should grow quickly.
Europeans will approach the annual growth consists of about 11% during the prophecy, and see the rules and European for the Best Europeans. This disease has less traditional betting and because of this online betting has increased a lot.
The most important company operating in the sports betting market
The main players in the market are focusing on creating beautiful websites and offering special offers, in order to gain a competitive edge in the industry. Companies are also focusing on integrating technologies, such as APIs, to improve services and provide simpler tools.
There are also other offers in the market that expand the needs of sports betting companies. For example, Indian software company Viscus Infotech Ltd. develops sports betting applications and provides betting solutions based on algorithms. Some of the famous players work in the world market for playing game is:
|888 Holdings Plc||Bet365||Betsson AB|
|Churchill Downs Incorporated||Entain plc||Flutter Entertainment Plc|
|IGT||Kindred Group Plc||Sportech Plc|
|William Hill Plc|