Connect with us
Midnight Princess - Power of Love slot game by Play'n GO
Midnight Princess - Power of Love - Slots game by Play'n GO

Gambling in the USA

Sports Betting Market is set to reach USD 231.2 billion by 2032, with a notable 11.1% growth rate (CAGR)

Published

on

 

The Global Sports Betting Market size accounted for USD 81.7 Billion in 2022 and is expected to reach USD 231.2 Billion by 2032 with a considerable CAGR of 11.1% during the forecast period of 2023 to 2032.

Sports betting market is reshaping the gambling industry, providing cutting-edge and entertaining wagering experiences. What exactly are sports betting? They are specialized services that involve the outsourcing of specific telecommunications operations and responsibilities to third-party providers. The global market was valued at USD 81.7 Billion in 2022 and is projected to reach USD 231.2 Billion by 2032. Within the larger gambling business, the sports betting market is a dynamic and quickly increasing area. It is based on the activity of forecasting sports events and betting on the outcomes. This market has grown significantly in recent years, owing mostly to the advent of internet and mobile betting platforms, which have made it more accessible to a global audience. Sports betting covers a vast number of sports, including football, basketball, tennis, horse racing, and many more, and includes a wide range of betting choices, such as moneyline bets, point spreads, and proposition bets. The expansion of the market is also driven by regulatory changes in various locations, with some governments legalizing and regulating sports betting in order to increase tax revenue and safeguard consumers.

Key Points and Statistics on the Sports Betting Market:

  • The Global Sports Betting Market size is projected to grow to USD 231.2 Billion by 2032, expanding at a CAGR of 11.1% from 2023 to 2032.
  • Europe leads the market globally with around USD 29.4 billion revenue of the market in 2022.
  • The platform online segment captured the largest market share along with 48.1 billion in 2022.
  • By betting type, fixed odds wagering sub-segment held the largest market share of 27% in 2022.
  • The advent of 5G networks, AI, and blockchain technologies in sports betting increase the market value.

Sports Betting Market Coverage:

Market Sports Betting Market
Sports Betting Market Size 2022 USD 81.7 Billion
Sports Betting Market Forecast 2032 USD 231.2 Billion
Sports Betting Market CAGR During 2023 – 2032 11.1%
Analysis Period 2020 – 2032
Base Year 2022
Forecast Data 2023 – 2032
Segments Covered By Platform, By Betting Type, By Sports Type, By Age Group, And By Geography
Sports Betting Market Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled 888 Holdings Plc, Bet365, Betsson AB, Churchill Downs Incorporated, Entain plc, Flutter Entertainment Plc, IGT, Kindred Group Plc, Sportech Plc, William Hill Plc, and others.
Report Coverage Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Sports Betting Market Overview and Analysis:

Several dynamic aspects characterise the sports betting business. The growing popularity of sporting events, both amateur and professional, adds to market growth by providing more options for bettors. The increased use of internet and mobile betting platforms has resulted in convenience, real-time betting possibilities, and live streaming of sporting events, making it more appealing to a wider audience.Furthermore, shifting regulatory environments have a huge impact. Some regions have legalised sports betting, giving consumer protection and tax money, while others have severe rules or outright forbid sports betting.

Technological improvements, such as the use of artificial intelligence and data analytics, have enhanced the accuracy of odds and allowed bettors to conduct more in-depth research. As a result, in-play betting, in which wagers can be placed during a game or match, has grown in popularity. Furthermore, the growing popularity of e-sports and the expansion of virtual sports betting have added new elements to the market. While the sports betting market offers several opportunities for bettors and operators, it also confronts problems, such as concerns about responsible gambling and possible issues with match-fixing and sports integrity. As the market evolves, maintaining a balance between innovation and regulation will be critical for long-term growth.

Latest Sports Betting Market Trends and Innovations:

Increased in-play and mobile betting, an emphasis on responsible gambling measures, and the use of modern data analytics to produce more accurate odds and predictions are all developments in the sports betting sector. Furthermore, the use of blockchain technology for transparent and secure transactions, as well as the growing popularity of e-sports betting, are important industry advances. These advancements improve the overall sports betting experience while also reaching a larger audience..

Major Growth Drivers of the Sports Betting Market:

The primary growth drivers include the rise in sports events and leagues, expanding global digital connectivity, a surge in sports betting interest among the younger generation, and the uptick in advertising and sponsorships are key drivers of the sports betting market.

Key Challenges Facing the Sports Betting Industry:

Challenges include the enforcement of stringent regulations on betting, increasing apprehension surrounding illicit wagering, and a mounting focus on addiction issues are elevating ethical concerns within the sports betting industry.

Sports Betting Market Segmentation Insights:

Based on Platforms:

  • Online
  • Offline

Based on Type:

  • Fixed Odds Wagering
  • Live/In Play Betting
  • eSports Betting
  • Exchange Betting
  • Others

Based on Sport Types:

  • Basketball
  • Football
  • Horse Racing
  • Baseball
  • Hockey
  • Cricket
  • Others

Based on Age Group:

  • Gen Y/Millennials
  • Gen Z
  • Baby Boomers
  • Gen X

Overview by Region of the Sports Betting Market:

Europe is the largest region in the global sports betting market, with a well-established betting culture and a plethora of markets within individual countries. The sports betting business in the United Kingdom, in particular, is strong and well-regulated. Another big market is North America, led by the United States, with the recent legalization of sports betting in numerous states adding to its rise. Asia-Pacific, which includes countries such as China and India, has significant growth potential. Sports betting is expanding in Africa and Latin America, with evolving regulatory frameworks promising future expansion. These regional dynamics highlight the multifaceted structure of the sports betting business.

List of Key Players in the Sports Betting Market:

The notable companies in the market include William Hill Plc, 888 Holdings Plc, Bet365, Betsson AB, Churchill Downs Incorporated, Entain plc, Flutter Entertainment Plc, IGT, Kindred Group Plc, and Sportech Plc..

Gambling in the USA

CasinoWebScripts Hits Milestone with 200 Sweepstakes Casino Games for the US Market

Published

on

 

In an exciting development for sweepstakes operators across the US, CasinoWebScripts has announced a significant milestone: the release of more than 200 in-house developed sweepstakes casino games. This achievement highlights the company’s commitment to innovation and its dedication to providing high-quality, engaging gaming experiences without the burden of monthly revenue sharing.

CasinoWebScripts’ unique approach allows operators to rent these state-of-the-art games for a fixed monthly fee, eliminating revenue share, GGR% fees, and usage limitations. This model ensures that operators can offer top-tier entertainment to their players while enjoying predictable, straightforward billing.

Further enhancing their sweepstakes software, CasinoWebScripts has introduced an array of features tailored specifically to the needs of the US market. Players can now earn free coins for various activities such as verifying their email, confirming their phone number, and inviting friends. Additionally, the introduction of a VIP program and a complex Affiliate Program brings more value to the player experience, with customizations that resonate with the US audience.

To ensure a seamless operation for its clients, CasinoWebScripts has also created strategic partnerships with prestigious third-party providers for essential services like KYC, credit card processing, and anti-fraud measures. These collaborations have resulted in a fully integrated solution that allows operators to run their business smoothly, without worrying about missing components.

Oscar Stevens, Product Manager at CasinoWebScripts, said: “Achieving this milestone reflects our team’s dedication and commitment to excellence and innovation. Our suite of over 200 sweepstakes games and the comprehensive features we’ve rolled out are designed to set our clients apart in the competitive US market. We are committed to providing solutions that are not only user-friendly but also ensure a secure and engaging gaming environment for players.”

Continue Reading

Gambling in the USA

EveryMatrix live on DraftKings in the US with Supremeland Gaming

Published

on

EveryMatrix live on DraftKings in the US with Supremeland Gaming

 

EveryMatrix is live with Supremeland Gaming, Inc. on DraftKings, its first exclusive content aggregation partnership in US.

The partnership will see Supremeland Gaming, through its American-based game studio Powderkeg, develop exclusive content on EveryMatrix technology, while also enabling EveryMatrix to distribute its games and provide additional gamification features such as free spins and tournaments for the US market via its SlotMatrix aggregation platform.

Supremeland Gaming’s content, via SlotMatrix, is now available on DraftKings in New Jersey with further states pending.

EveryMatrix is the industry’s largest content aggregator and has secured commercial agreements with several tier-1 operators in the US through SlotMatrix including DraftKings with its in-house content live in New Jersey and Ontario.

It has more than 300 global customers with North American licences in Ontario, New Jersey, Michigan, West Virginia, Connecticut and Pennsylvania.

Erik Nyman, President, EveryMatrix Americas, said: “At the core of the EveryMatrix product strategy has been to deliver its world-leading casino productivity and aggregation platform to the US market.

“Today, we have enabled our first partner Supremeland Gaming to go live and our customers can facilitate bonus capabilities for third-party games which has been never seen in this market until now. Powderkeg develops high-quality games and we are confident players will enjoy them.”

Rickard Öhrn, CEO of Supremeland Gaming, said: “This major milestone represents the first step on an exciting journey we are undertaking to deliver mischievous, innovative, and really fun-to-play online games to a broader audience through our partnership with EveryMatrix.”

Continue Reading

Gambling in the USA

INFRONT BETTOR EXPANDS NORTH AMERICAN OPERATIONS IN PARTNERSHIP WITH RUSH STREET INTERACTIVE AGREEMENT

Published

on

 

Key Partnership Across RSI Brands BetRivers and RushBet Includes Access to Infront’s Official ITF Data and Streams from 2025.

Infront Bettor, Infront’s betting-focused division, has successfully secured a strategic partnership with Rush Street Interactive Inc NYSE RSI (“RSI”), one of the leading operators in the Americas and the online operator of BetRivers in North America and RushBet in Latin America.

The new agreement covers Infront’s extensive portfolio, including access to the official fast path data of all International Tennis Federation ITF events, exclusively distributed by Infront Bettor from 2025. Official feed data directly from the umpire’s chair will be made available for over 58,000 matches from the Men’s and Women’s World Tennis Tour, the Billie Jean King Cup, and the Davis Cup. The corresponding video streams will also be distributed for a large portion of these matches.

The deal also covers Infront’s wider streaming portfolio from more than 40 global rights holders across soccer, basketball, and ice hockey. This includes top European soccer competitions such as France’s Ligue 1 Uber Eats from the 2024/25 season and premium ice hockey tournaments such as the IIHF Ice Hockey World Championship.

Diogo Almeida, Head of Sales, Infront Bettor said: “Our venture into the US betting landscape marks a significant milestone for the bold plans we have for Infront Bettor, and partnering with a key player, like RSI, in the industry is obviously the best way to significantly bolster our presence in this rapidly expanding market. It also ensures that fans have unmatched access to top-tier global sports events, which will be perfectly complemented with 24/7 betting opportunities through our partnership with the ITF.”

Richard Schwartz, CEO of Rush Street Interactive, said: “This partnership is a pivotal step for us in enhancing our offering to make sure we have premium and round-the-clock coverage for our customers. We are also very proud to continue to deliver the ITF to our bettors through next year, offering an enhanced tennis package that will see us consume more events than ever before. We know Infront has plans to offer a more immersive tennis betting experience, adding supplementary betting markets through collecting level 2 and level 3 data, and we look forward to seeing these come to life next year.”

For more information, visit infront.sport.

 

Continue Reading

Trending

GamingAmericas.com (part of HIPTHER) is your one-stop portal for the latest news, insights, and analyses in the gaming industry across the Americas. From legislative updates and market trends to interviews with industry leaders, we provide a comprehensive look at the dynamic landscape of both online and land-based gaming. Whether you're a stakeholder looking to stay ahead of the curve or a gaming enthusiast eager for reliable updates, GamingAmericas.com has got you covered. Follow us on social media and subscribe to our newsletter for real-time updates and exclusive content. Make informed decisions and stay ahead in the game with GamingAmericas.com.

Disclaimer: All the information provided is for educational and entertainment purposes only. Always check your local laws before participating in any gaming activities.

Copyright © 2018 – 2024, HIPTHER. All Rights Reserved.