About Legal Sports Betting -
Legal Sports betting is a type of gambling that involve predicting the outcomes of sporting events and placing bets accordingly. Football, horse racing, and poker are just a few of the sports that fall under this category. Individuals and gamblers in the sport can benefit from the game's growing potential. Many different states and countries consider sports betting to be unlawful. The government is taking steps to legalize sports betting, which will expand the online sports betting industry's potential. Legalized sports betting has the potential to produce significant revenue for both the state and the country as a whole. Legalizing betting will surely create a large - scale employment in addition to generating revenue.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Legal Sports Betting - market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
International Game Technology(United States), GVC Holdings (Isle of Man), Bet365(United Kingdom), Scientific Games(United States), Flutter Entertainment(Ireland), William Hill PLC(United Kingdom), The Stars Group(Canada), Playtech(Isle of Man), Kindred Group(Malta) and 888 Holdings (United Kingdom) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Legal Sports Betting - market by Type (Sportsbook, Pre-Match Betting & Live Betting, Fixed Odds Wagering, Exchange Betting, Live/In Play Betting, ESports Betting and Others) and Region.
On the basis of geography, the market of Legal Sports Betting - has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Platform, the sub-segment i.e. Online will boost the Legal Sports Betting - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Payment Mode , the sub-segment i.e. Deposit methods(UPI, Net Banking, AstroPay Card and other) will boost the Legal Sports Betting - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sports, the sub-segment i.e. Football will boost the Legal Sports Betting - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Popularity Of Online Sport Betting
Market Growth Drivers:
Increasing Disposal Income and Increasing Local Residents Participate In Small Betting Facilities
Challenges:
Intense Competition Among Players
Restraints:
Threat Of Fraud Activates In Betting Such As Account Hacking and Betting Generates Addiction Number Of Player
Opportunities:
Increasing Number Of Betting Application On Online Platform
Market Leaders and their expansionary development strategies
In September 2023: Betsson was awarded a license to offer online sports betting on the locally regulated market in France. The operations in France would run in collaboration with a local partner. The launch in the country took place during the fourth quarter of 2023 under the Betsson brand.
In December 2023: Betsson collaborated with Racing Club de Avellaneda for the upcoming 2023/2024 season. Starting May 19, the Swedish brand logo would be featured on the upper back of the men’s and women’s First Division football teams’ shirts for local and international matches.
Key Target Audience
Legal Sports Betting Provider, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.