Global Online Sports Betting Market Overview:
Online gaming platforms are basically an online network that permits the players to gamble on different games such as gambling, money games, video games, poker, card games, slot games, blackjack, and many others. Sports betting has been online in Europe. The reason behind this is the ease of their laws and regulations that allowed them to bet most specifically on the English Premier League or just Soccer/Football as a whole. Online gaming is differed from online sports betting because in betting sites, bet and wager is typically held at a single place, and in online sports games, the game is held online on the club and then bets are placed accordingly.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increase in Number of Startups and Development in Technology Such as Blockchain
Market Growth Drivers:
Development in the United States Sports Betting Market, Increase Penetration on Smart Phones and Increase in Number of Young Generations
Challenges:
Stringent Laws and Regulations
Restraints:
Increase Prohibition in TV Advertising for Sports Betting
Opportunities:
Growing Demand of Online Gambling in COVID-19 Pandemic Situation, Increasing Popularity of Virtual Sports Betting and Increasing in Disposable Income Among People in Emerging Markets
Competitive Landscape:
The solution providers are operating in this industry are accepting numerous strategic growth areas such as mergers & acquisitions, expansions, investments, new solution launches and others across the globe. The market major players are exploring new areas through developments and accomplishments to benefit competitive advantage through collective collaborations.
Some of the key players profiled in the report are William Hill PLC (United Kingdom), Bet365 Group Ltd. (United Kingdom), Flutter Entertainment (Ireland), Betsson AB (Sweden), Entain (Isle of Man), The Stars Group Inc. (Canada), 888 Holdings PLC (Gibraltar), Sky Betting and Gaming (United Kingdom), Kindred Group PLC (Malta) and GVC Holdings PLC (Isle of Man). Additionally, following companies can also be profiled that are part of our coverage like Fortuna Entertainment Group (Netherlands), The Betway Group (Malta) and Playtech (Isle of Man). Analyst at AMA Research see Europe Vendors to retain maximum share of Global Online Sports Betting market by 2028. Considering Market by Components, the sub-segment i.e. Software will boost the Online Sports Betting market. Considering Market by Game, the sub-segment i.e. Cybersports will boost the Online Sports Betting market. Considering Market by Devices, the sub-segment i.e. Desktop will boost the Online Sports Betting market.
Latest Market Insights:
In September 2021, Nuvei Corporation collaborated with 888 Holdings Plc to provide its Instant Bank Transfer payment solution to SI Sportsbook, the recently introduced online sports betting platform
In July 2021, Gannett Co. Inc. announced its collaboration with Tipico USA Technology to leverages the power and breadth of the United States TODAY NETWORK consisting of more than 250 daily local sites including The Indy Star and Detroit Free Press, across the country with over 200 additional sports sites in the portfolio, such as For the Win, Golfweek, and MMA Junkie.
What Can be Explored with the Online Sports Betting Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Online Sports Betting Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Online Sports Betting
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Online Sports Betting market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Online Sports Betting market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture Capitalists and Private Equity Firms, New Entrants/Investors, Online Sports Betting Software Providers, Government Regulatory and Research Organizations and End-Use Industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.