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$129.3 Billion Global Sports Betting Market, Growth of CAGR 9.7% by 2028 | Rising Digital Infrastructure is Driving the Market | Sports Betting Industry Size, Share, Growth, Market Outlook | Vantage Market Research
Vantage Market Research’s recent analysis of the Global Sports Betting Market finds that the increasing technological advancement and innovation are expediting market growth. In addition, the increased penetration of connected devices is anticipated to augment the development of the Global Sports Betting Market over the projected period.
The Global Sports Betting Market revenue is expected to reach a value USD 129.3 Billion in the year 2028.
The Global Market revenue was valued at USD 74.2 Billion in the year 2021 and is expected to rise to exhibit a Compound Annual Growth Rate (CAGR) of 9.7% during the forecast period; states Vantage Market Research, in a report, titled “Sports Betting Market Size, Share & Trends Analysis Report by Platform (Offline, Online), by Betting Type (Fixed Odds Wagering, Exchange Betting, Live/In Play Betting, Pari-mutuel), by Sports Type (Football, Basketball, Baseball, Horse Racing), by Region (North America, Europe, Asia Pacific, Latin America) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”.
- The newly updated, 145+ page reports provide an in-depth analysis of the COVID-19 virus and pandemic.
- Using industry data and interview with experts, you can learn about topics such as regional impact analysis, global forecast, competitive landscape analysis, size & share of regional markets.
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- Free sample includes, Industry Operating Conditions, Industry Market Size, Profitability Analysis, SWOT Analysis, Industry Major Players, Historical and Forecast, Growth Porter’s 5 Forces Analysis, Revenue Forecasts, Industry Trends, Industry Financial Ratios.
- The report also presents the country-wise and region-wise analysis of the Vantage Market Research and includes a detailed analysis of the key factors affecting the growth of the market.
- Sample Report further sheds light on the Major Market Players with their Sales Volume, Business Strategy and Revenue Analysis, to offer the readers an advantage over others.
Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Sports Betting market is predicted to grow at a CAGR of roughly 9.7% during the forecast period.
- The Sports Betting market was estimated to be worth roughly USD 74.2 Billion in 2021 and is expected to reach USD 129.3 Billion by 2028; based on primary research.
- On the basis of region, Asia Pacific is projected to dominate the worldwide Sports Betting market.
Market Dynamics:
Drivers:
Increasing Technological Advancement and Innovation to Drive the Market Growth
The increasing technological advancement and innovation in online sports gaming are anticipated to augment the growth of the Sports Betting Market during the forecast period. Digital platforms enable gamblers to place bets from any location around the world, which saves time as well as travel costs. Along with this, the ease of operations digitally makes it a significant driver for the Sports Betting Market. Moreover, rapid penetration of internet-based devices such as tablets, laptops, and smartphones aid the contact with end-users by involving them through online betting activities with the most negligible influence on daily activities. Hence, smartphones are anticipated to play a vital role in the acceptance of Sports Betting Market among end-user over the forecast timeline. In addition, increasing smartphone penetration and high adoption of instant messaging services and video streaming augment the growth of online Sports Betting Market through mobile devices. Such factors can influence the user experience by developing improved mobile applications. Furthermore, the benefits associated with the 5G networks are projected to enhance the adoption of smartphone-based betting in the coming years, driving the Global Sports Betting Market growth.
Rapid Development of Electronic Systems to Stimulate Market Growth
The development of electronic systems to facilitate gaming competition, such as a variety of video games, is contributing to the growth of the e-sports industry. This is expected to fuel the market where bets are placed on the tentative winner. In recent years, the e-Sports industry has seen rapid growth in viewership and revenue. The increasing viewership contributed significantly to revenue growth. For example, in 2016, there was a significant increase in casual and avid eSports viewers, including viewers who watch it regularly. Furthermore, rising eSports awareness is expected to drive industry growth shortly. The rise of live eSports coverage platforms, such as Twitch and YouTube, increases global viewership and drives business growth. Furthermore, the number of people watching Tv with live streams has risen steadily. E-Sports marketing would aid in expanding Sports Betting Market and delivering marketing messages via various channels. Over the forecast period, the factors mentioned earlier are expected to drive market growth.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments worldwide implemented strict lockdown measures and social distancing norms to restrict the swift spread of the pandemic. Manufacturing facilities worldwide were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the IT industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The Report on Sports Betting Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
Asia Pacific Dominated the Global Sports Betting Market
Asia Pacific dominated the Global Sports Betting Market in 2021 and is likely to continue the same trend during the forecast period. This is attributable to a substantial proportion of young people participating in various regional sports. Furthermore, the rising internet and smartphone penetration coupled with the rising disposable income of the middle-class population is also likely to support the regional growth of the market.
Browse market data Tables and Figures spread through 149 Pages and in-depth TOC on “Sports Betting Market Size, Share & Trends Analysis Report by Platform (Offline, Online), by Betting Type (Fixed Odds Wagering, Exchange Betting, Live/In Play Betting, Pari-mutuel), by Sports Type (Football, Basketball, Baseball, Horse Racing), by Region (North America, Europe, Asia Pacific, Latin America) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)“.
List of Prominent Players in Sports Betting Market:
- 888 Holdings PLC
- Bet365
- Betsson AB
- Churchill Downs Incorporated
- Entain PLS
- Flutter Entertainment PLC
- IGT
- Kindred Group PLC
- Sportech PLC
- William Hill PLC
Recent Developments:
January 2022: Flutter Entertainment PLC announced its acquisition of the leading Italian online gambling brand Sisal for €1.913 billion (£1.62 billion) from CVC Capital Partners. Sisal will presumably slot into the Flutter International division, led by the PokerStars brand and supported by Betfair International and recent acquisitions Adjarabet and Junglee Games.
July 2019: The Stars Group Inc. announced that it has entered into an agreement with Penn National Gaming that grants its options to operate online betting and gaming in states where Penn currently owns or operates casino properties.
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Sports Betting Market?
- How will the Sports Betting Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Sports Betting Market?
- What is the Sports Betting market drivers and restrictions?
- What will be the CAGR and size of the Sports Betting Market throughout the forecast period?
This market, titled “Sports Betting Market” will cover complete information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others, as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered |
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| Region & Counties Covered |
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| Companies Covered |
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| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
Collaboration will see Bragg content featured on Light & Wonder’s ecosystem
Bragg Gaming Group Inc., a global B2B gaming technology and content provider, announced it has signed an international online casino content distribution agreement with Light & Wonder.
The agreement will see high-performing games from Bragg’s proprietary studios, Atomic Slot Lab, Indigo Magic, Wild Streak Gaming and Spin Games added to Light & Wonder’s online ecosystem.
Exclusive content from the supplier’s Powered by Bragg partners will also be integrated, providing Light & Wonder with a wide selection of highly localized and unique titles.
The deal will encompass numerous European regulated markets as well as the USA and Canada, significantly growing the reach of Bragg’s content to new audiences and strengthening the supplier’s casino offering with new titles.
Matevž Mazij, Chief Executive Officer at Bragg Gaming Group, commented: “Light & Wonder is a world-leading platform and games provider, and this distribution deal will be hugely beneficial for us, as our content will be in front of new audiences through its large operator network boosting exposure of our games.
“We have focused on strengthening our content portfolio over the last year and this partnership is a testament to the popularity and appeal of our games which have been proven successful in markets globally.”
Steve Mayes, Senior Director Digital Partnerships at Light & Wonder, said: “We are thrilled to be working closely with Bragg, and are looking forward to offering their content across our network. This deal is a great showcase for the power of our aggregation platform and global scale. We already have a number of key operators lined up to launch Bragg games and excited to further expand our portfolio of games partners.”
WA.Technology, a leading B2B iGaming solutions provider, is delighted to announce its alliance with leading online lottery brand Lottery.com. The announcement was made at ICE London 2024.
The agreement and the combined operational partnership mark a significant step in WA.Technology and WA.Lottery’s expanding reach into new markets and Lottery.com’s global growth strategy across Africa, the Pacific Region, Brazil, and other parts of Latin America.
Under this alliance, WA.Technology will extend its full spectrum of iGaming platform solutions and manage daily operational activities to support Lottery.com’s expansion. This will encompass a range of services, including affiliate and lead generation strategies, comprehensive legal services, compliance, regulatory, and financial management. The aim is to maximise Lottery.com’s earning potential in global markets over the coming years.
The agreement comes when the global lottery industry is witnessing substantial growth, driven by the increasing popularity of mobile and online lottery sales. WA.Technology, with its leading WA.Lottery solutions, assist existing and new lottery operators in capitalising on new opportunities in their target markets.
Tim Scoffham, CEO of WA.Technology, expressed his enthusiasm, stating, “This is a fantastic step in the journey of WA.Technology, and we are excited to be on board with this esteemed lottery brand. We love their vision for creating a global destination for lotteries and are thrilled that Lottery.com has chosen us to be their operational partner. With over 200 team members worldwide, we are perfectly positioned to support and help them achieve their goals and see their vision come to life.”
Matthew McGahan, CEO and Chairman of Lottery.com, added, “Our new relationship with WA.Technology marks a pivotal moment in Lottery.com’s growth strategy, especially in the burgeoning South American market. By leveraging WA’s operational efficiencies and proven expertise in this region, we are poised to enhance our global footprint significantly. This collaboration allows us to concentrate more effectively on US ticket operations, the relaunch of the WinTogether sweepstakes business, and the roll-out of Sports.com. We are confident that our purchase of WA.Technology’s robust platform and its comprehensive iGaming solutions will complement our vision for global expansion, helping to make Lottery.com a household name in the lottery domain worldwide.”
WA.Technology’s commitment to this new agreement reflects the company’s dedication to global expansion and its capability to deliver tailored solutions in a wide range of global markets with a significant impact on online lotteries.
WA.Technology’s specialist lottery vertical, WA.Lottery is the ultimate toolkit for new lottery ventures, offering a diverse range of 70+ global lotteries, personalised gaming options such as sweepstakes and scratch cards, and e-commerce platforms with extensive payment options and jackpot coverage, all complemented by an intelligent management system that enhances user engagement and scales effortlessly to meet the needs of any lottery business.
International News
SCCG Management Announces Strategic Partnership with WhiteLotto for Distribution of Lottery Software Solutions
SCCG Management, a global leader in advisory services for the gambling industry, proudly announces its strategic partnership with WhiteLotto, a subsidiary of the esteemed GG International brand. This alliance marks a significant step in expanding the reach and capabilities of both companies within the global lottery and gambling sector.
WhiteLotto’s platform and solutions are a one-stop solution for launching a successful lottery business, encompassing the best lotteries, technical and marketing support, licenses, extensive marketing tools, an affiliate program, and support for over 40 languages. Their flexible models of cooperation and a blend of online and offline technology cater to a wide range of lottery messenger services and national lotteries worldwide.
Stephen Crystal, Founder and CEO of SCCG Management, commented, “Our partnership with WhiteLotto is a landmark moment for us. WhiteLotto’s cutting-edge lottery platform and its global operational model perfectly align with our vision of connecting the industry’s best products and services. We are thrilled to collaborate with a company that has such a profound understanding of the lottery sector, and we look forward to bringing WhiteLotto’s exceptional offerings to our extensive network of clients.”
Wojciech Lysak, Managing Director of WhiteLotto, expressed his enthusiasm about the partnership: “The WhiteLotto team is proud to partner with SCCG. WhiteLotto’s business model was always to stay outside the flashlights, working from backstage in a peaceful and calm atmosphere delivering quality projects always on time, while being referred from project to project by word of mouth. Having cooperation with SCCG, which in WhiteLotto’s humble opinion is the industry superstar in terms of networking and connection of good businesses, WhiteLotto products can now be presented to a more broader audience of worldwide operators.”
This strategic partnership enables WhiteLotto to leverage SCCG’s vast network and expertise in the gambling industry, allowing them to expand their reach and showcase their innovative lottery solutions to a broader audience. For SCCG, collaborating with WhiteLotto adds a new dimension to their client partner ecosystem, which comprises over 100 of the top products, platforms, and solutions in the industry.
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