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Sports Betting Market Growing at a Healthy CAGR of 8.83% Bet

edit:casino time:2019-02-06

According to the report, the global sports betting market was valued at around USD 104.31 billion in 2017 and is expected to reach approximately USD 155.49 billion by 2024, growing at a healthy CAGR of 8.83% between 2018 to 2024.

Sports betting is a gambling activity that involves predicting the outcome of any sports activity and placing the wagers accordingly. Various sports, such as horse racing, cricket, poker, and many others, fall under this category. This market offers tremendous growth potential for both the sportspersons and the bettors.

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With digital revolution transforming the world every second, the sports betting market is likely to grow dynamically in the future. This market currently holds around 70% of the global gambling revenue, which is more than any other sectors inclusive of lotteries, casinos, and poker, among other forms of gambling. Various games are popular for betting around the world, but European football has been attracting the greatest betting revenue, which is closely followed by baseball. The increasing popularity of virtual sports betting is one of the major factors likely to support the market for sports betting over the forecast time period. The technological developments have also transformed the process of conducting sports betting. On the other hand, the strict regulations led down by various governments of different countries across the world might hamper the development of the sports betting market on a global scale in the future.

The global sports betting market is segmented based on platform, sports type, and type. Based on the platform, this global market is bifurcated into online and offline. The online sports betting segment is likely to dominate the sports betting market in the upcoming years, due to the increasing awareness regarding the online betting platform. On the basis of type, this market is segmented into line-in-play, fixed old betting, exchange betting, daily fantasy, spread betting, e-sports, pari-mutuel, and others. The sports type segment of this market comprises football, baseball, basketball, hockey, cricket, tennis, golf, boxing, horse riding, auto racing, and others.

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Based on region, this global market includes Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. The Asia Pacific region held the most significant share of the sports betting market in terms of value during 2017, owing to the growing awareness of sports betting in the developing regions of China, India, etc. The North American sports betting market is likely to witness a noteworthy rate of growth over the estimated timeframe.

Some key participants operating in the global sports betting market include 888 Holdings PLC, GVC Holdings PLC, Kindred Group, Paddy Power Betfair PLC, William Hill PLC, Bet365 Group Ltd., The Stars Group Inc., DraftKings, Betsson AB, and BetAmerica, among others.

This report segments the global sports betting market into:

Sports Betting Market: Platform Analysis

Online

Offline

Sports Betting Market: Type Analysis

Line-in-play

Fixed Old Betting

Exchange Betting

Daily Fantasy

Spread Betting

E-Sports

Pari-Mutuel

Others

Sports Betting Market: Sports Type Analysis

Football

Baseball

Basketball

Hockey

Cricket

Tennis

Golf

Boxing

Horse Riding

Auto Racing

Others

Sports Betting Market: Regional Analysis

North America

The U.S.

Europe

UK

France

Germany

Asia Pacific

China

Japan

India

Latin America

Brazil

The Middle East and Africa

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