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Global Online Sports Betting (Fixed Odds Wagering, Live Betting, Daily Fantasy, Others) Market Report 2024: Analysis by Type, Age, Sports, Region – Market Insights and Forecasts 2019-2029
The “Global Online Sports Betting Market (2024 Edition): Analysis By Type (Fixed Odds Wagering, Live Betting, Daily Fantasy, Others), By Age, By Sports, By Region, By Country: Market Insights and Forecast (2019-2029)” report has been added to ResearchAndMarkets.com’s offering.
The market was valued at USD 27.08 Billion in 2022 which is expected to reach USD 70.63 Billion in 2029. The Global Online Sports Betting market showcased growth at a CAGR of 10.2% during 2019-2022.
This report provides a complete analysis of the Global Online Sports Betting industry for the historical period of 2019-2022, the estimates of 2023 and the forecast period of 2024-2029. The report analyses the Online Sports Betting Market by Region (Americas, Europe, Asia Pacific, Middle East & Africa) and 10 Countries (United States, Canada, Brazil, Germany, United Kingdom, France, Italy, China, Japan, South India).
Sports have a universal appeal, and many major sports, such as football (soccer), basketball, cricket, and others, enjoy a massive global fan base. The popularity of these sports creates a natural demand for betting on events and matches. Moreover, the global expansion of the internet and improved connectivity has led to a larger audience having access to online sports betting platforms. As more people gain internet access, the potential user base for online sports betting naturally expands.
The proliferation of smartphones and the advancement of mobile technologies have made it easier for individuals to engage in online sports betting on the go. Mobile apps and responsive websites provide a seamless and convenient experience, attracting a broader audience. Additionally, online sports betting platforms have invested in creating user-friendly interfaces, making it easier for both experienced and novice bettors to navigate and place wagers. Intuitive design contributes to a positive user experience, encouraging more individuals to participate.
Moreover, major international sporting events, such as the FIFA World Cup, the Olympics, and high-profile league matches, draw significant attention. The anticipation and excitement surrounding these events contribute to a surge in active users on sports betting platforms. The legalization and regulation of online sports betting in several countries and jurisdictions have contributed to its growing popularity. This has created a safer and more trustworthy environment for users to engage in online betting.
Online sports betting platforms provide a diverse range of betting options, including various sports, leagues, and betting markets. This variety caters to a broad audience with different preferences, increasing overall user engagement. Furthermore, changing societal attitudes toward online gambling contributes to a broader acceptance of sports betting as a form of entertainment. As stigma decreases, more individuals are likely to participate in online sports betting.
Mobile apps have significantly increased the accessibility of online sports betting. Users can place bets from anywhere at any time, as long as they have a mobile device and an internet connection. This convenience has played a crucial role in expanding the user base for online sports betting. Mobile applications enable users to engage in sports betting while on the move. Whether at home, at work, or in transit, users can access their betting accounts and place bets in real-time.
This flexibility caters to the dynamic lifestyles of many individuals. Mobile apps are designed to provide a user-friendly interface and a seamless experience. They often include features such as live streaming, live in-play betting, and push notifications for real-time updates. These enhancements contribute to a more engaging and enjoyable user experience. Mobile apps can leverage new technologies, such as augmented reality (AR) and virtual reality (VR), to enhance the immersive nature of sports betting. These technologies can provide users with unique and interactive experiences, contributing to the overall appeal of mobile sports betting.
Mobile betting apps often allow users to customize their preferences and settings. This personalization enhances the user experience by tailoring the app to individual preferences, creating a more personalized and engaging platform. Moreover, Mobile apps play a crucial role in facilitating in-play or live betting. Users can place bets on ongoing events, responding to changing game dynamics in real time. This feature adds an extra layer of excitement to the betting experience.
Key Attributes:
– Report Attribute Details
– No. of Pages 280
– Forecast Period 2024 – 2029
– Estimated Market Value (USD) in 2024 $34.95 Billion
– Forecasted Market Value (USD) by 2029 $70.63 Billion
– Compound Annual Growth Rate 15.1%
– Regions Covered Global
Scope of the Report
– The report analyses the Online Sports Betting Market by Value (USD Million).
– The report presents the analysis of Online Sports Betting Market for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029.
– The report analyses the Online Sports Betting Market By Type (Fixed Odds Wagering, Live/ In Play Betting, Daily Fantasy, Other Types)
– The report analyses the Online Sports Betting Market By Age (18-23 Years, 24-40 Years, 41-54 Years and Above 55 Years)
– The report analyses the Online Sports Betting Market By Sports (Basketball, Boxing / MMA, Esports, Football/Soccer, American Football, Tennis and Other Sports).
– The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, By Types, by mode of operation & by end users.
– Also, the major opportunities, trends, drivers, and challenges of the industry has been analysed in the report.
– The report tracks competitive developments, strategies, mergers and acquisitions and new product development.
Competitive Positioning
– Companies’ Product Positioning
– Market Position Matrix
– Market Share Analysis of Online Sports Betting Market
Company Profiles
– Kambi Group PLC
– Holdings PLC
– DraftKings Inc.
– Betsson AB
– Flutter Entertainment PLC
– Kindred Group PLC
– Bet365 Group Limited
– Betway Group
– Dream Sports Inc.
– 10bet
For more information about this report visit: researchandmarkets.com
Latest News
Rebranded VSiN Las Vegas 1230 The Game Brings 24-7 Sports Betting Talk Format to Vegas Radio Listeners Just Ahead of Biggest Sports Betting Day of the Year
Lotus Las Vegas is expanding its partnership with VSiN, The Sports Betting Network, to deliver 24-7 sports betting content to Las Vegas radio listeners. The rebranded VSiN Las Vegas 1230 The Game provides sports enthusiasts the expert sports betting insights and analysis they need â all straight from the floor of one of the biggest sportsbooks in the world at Circa Resort and Casino, stationed in the heart of downtown Las Vegas.
âWe are thrilled to announce the rebranding of 1230 The Game as VSiN Las Vegas 1230 The Game, solidifying our long-standing partnership with VsiN. As one of the first stations to bring VSiN content to terrestrial radio, weâve always shared a commitment to delivering the best in sports betting insights to our listeners. This next step underscores our dedication to providing cutting-edge content and highlights the growth and impact of VSiN in the world of sports broadcasting,â said Natalie Marsh, General Manager at Lotus Broadcasting.
VSiN Las Vegas 1230 The Game delivers news, analysis, and insights that bettors need to make informed wagering decisions. As the voice of the sports betting industry, VSiN delivers the most credible, actionable information to sports fans and betting enthusiasts by tapping the industryâs most knowledgeable sports betting experts, legendary book makers, former athletes, and league executives.
âLike everyone else involved in this partnership, I’m very excited to see the rebranding of 1230 The Game become officially VSiN Las Vegas 1230 The Game. We have had a lengthy partnership with VSiN and all this does is continue to grow it and take it to the next level. Excited about what’s to come next with the dedication from us and VSiN, forming VSIN Las Vegas 1230 The Game,â said Q Myers, Las Vegas Sports Network Program Director and On-Air Host on Raider Nation Radio 920.
âLotus has been an amazing partner in helping VSiN build a passionate local following, hungry for credible sports betting information. Itâs that passion, and the excitement of being at the center of the sports and entertainment capital of the world, that we try to capture for our audience in the rest of the country. Weâre excited to kick off this relationship in time to bring non-stop coverage of the Big Game to our local listeners,â said Brian Musburger, president and chief business officer at VSiN.
This 24-7 sports betting programming launches just ahead of the single biggest sports betting event of the year and VSiN will deliver non-stop coverage leading into Super Sunday, including reports directly from the action in New Orleans. VSiN personalities Adam Schein, John Hansen, and Jonathan Von Tobel will do shows live on location.
The network will showcase insights from all of its experts, professional bettors and bookmakers on Super Sunday with live coverage from Las Vegas beginning at 5 a.m. Pacific and continuing through midnight.
Latest News
Robinhood Launches âPro Football Championshipâ Contracts
Robinhood Derivatives LLC (RHD) has launched event contracts for the Pro Football Championship. The trading platform launched the event contracts on Monday to let U.S. customers wager on the outcome of the Super Bowl clash, seeking to tap into the betting mania around one of the most iconic sporting events in the country.
âRobinhoodâs mission is to democratize finance for all. With an emerging asset class like event contracts, we recognize an opportunity to better serve our customers as their interests converge across the markets, news, sports, and entertainment,â the company said.
Available in all 50 states through KalshiEX LLC, a regulated exchange, the Pro Football Championship event contract gives eligible customers the power to trade on the outcome of the big game.
Event contracts for the Pro Football Championship leverage the power and rigor of financial market structure to facilitate greater liquidity, transparency, and price discovery.
The Pro Football Championship event contract lets customers trade one of two different event contracts based on their prediction for âwho will winâ between Kansas City or Philadelphia. To participate, customers must download the latest version of the app, and apply and meet certain criteria to be approved for a RHD account.
Event contracts for the Pro Football Championship follows the launch of the Presidential Election Market last October, which enabled customers to trade event contracts through RHD based on their prediction for âwho will win the 2024 presidential election.â
Compliance Updates
Florida Gaming Control Commission Demands Overseas Bookmakers and Casinos Cease Their Illegal Online Gambling Operations in Florida
The Florida Gaming Control Commission (FGCC) demanded that three overseas bookmakers and casinos halt their illegal online gambling operations in Florida. These overseas bookmakers and casinos host online gambling websites accessible to Florida residents and visitors. FGCC sent cease-and-desist letters to Milvus Ltc, d/b/a BetUS.com.pa, Harp Media B.V. d/b/a Bovada.lv, and Gaming Services Provider, N.V. d/b/a MyBookie.ag.
The websites operated by these overseas bookmakers and casinos only offer illegal wagers. As FGCC explained in its cease-and-desist letter:
[The gambling websites offered by your overseas bookmaking and casino operation] offers or accepts wagering on sports and horse races, including betting on point spreads, moneylines, and totals, as well as proposition bets and futures in the sportsbook and adding money to bet slips in the racebook. Under Florida law, this conduct is a felony offense. See § 849.14, Fla. Stat. Further, it is a felony offense to receive illegal wagers on the result of any trial or contest of skill, speed or power or endurance of human or beast, or to aid, assist, or abet such illegal wagering. Id.
âGaming, both land-based and online, is strictly regulated in Florida. For example, when it comes to slot machine gaming, counting the eight legal, state-licensed slot machine businesses, and the six tribal gaming locations currently operated by the Seminole Tribe of Florida, there are only fourteen legal slot machine businesses in Florida. The only online sportsbook operating lawfully in Florida is the Seminole Tribe of Floridaâs Hard Rock Bet. Anyone in Florida betting on the Big Game needs to know this. Bettor beware,â explained Florida Gaming Control Commission Executive Director Ross Marshman.
These overseas bookmakers and casinosâ illegal conduct is not limited to sports betting and horse racing. As explained in the FGCC cease-and-desist letter:
[The gambling website offered by the overseas bookmaking and casino operation] offers or accepts wagers on casino-style games, including slots, poker, blackjack, roulette, craps, and baccarat. It is a criminal offense to conduct unauthorized games of chance. §§ 849.08, .15, Fla. Stat. [Additionally,] you allow Florida residents to participate in illegal lotteries, such as deposit-matching promotions, giveaways of cash or prizes, and sign-up bonuses. The conduct, promotion, or advertisement of such an illegal lottery is strictly prohibited under Florida law and is a felony offense. See Art. X, § 7, Fla. Const; § 849.09, Fla. Stat.
Illegal gambling operations offer no benefits to Floridians. On the other hand, tax revenue from state-licensed slot machine businesses and revenue-sharing payments from the Seminole Tribe of Florida are used to fund valuable state programs. For example, in 2024, the Educational Enhancement Trust Fund of Florida received over $240 million in tax revenue from the eight state-licensed slot machine businesses. Florida will receive no less than $2.5 billion from the Seminole Tribe of Florida during the next five years, which is earmarked for water quality improvement, infrastructure, and management of Floridaâs conservation lands.
The mission of the Florida Gaming Control Commission is to preserve and protect the integrity of gaming activities in Florida through fair regulation, licensing, effective criminal investigation, and enforcement.
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