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Sports Betting Market to Rise at a CAGR of 9.8% during Forecast Period 2022-2031, notes TMR Study

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Transparency Market Research Inc. – In 2021, the value of global sports betting market reached US$ 261.6 Bn. The global market is forecasted to rise at a CAGR of 9.8% during the forecast period, from 2022 to 2031. The global sports betting industry value is estimated to attain value of US$ 653.5 Bn by 2031. It is anticipated that the growing popularity of sports across the globe will propel the market for sports betting. In contrast to football betting, which is extremely prevalent in both North and South America, online cricket betting is growing in popularity in the Asia Pacific.

The proliferation of the internet has raised traffic to some of the top sports betting websites across the globe. In order to draw sports fans to betting, businesses in the industry employ aggressive marketing techniques including risk-free wagering for a set amount of time and sign-up bonuses for new customers. In order to help customers make the best wagers, online sports betting guide is gaining popularity. Such promotional measures are expected to fuel sports betting industry growth in the forthcoming years.

Recent developments in the sports betting market indicate that viewers are becoming more and more interested in watching a variety of sports genres on a global scale. A case in the point is when in the 2021–2022 NBA regular season, ESPN averaged 1,401,000 viewers, a 16% rise from the previous season. As a result, the global sports betting market is expected to expand as more people watch sports.

Sports betting is a form of gambling that involves making predictions about sporting events and placing bets on the outcomes. Sports betting is used on events that aren’t athletic, including elections, reality show contests, and contests involving animals like dog and horse races and also illegal cockfighting.

Key Findings of Market Report

  • The number of people using the internet is rising significantly worldwide. Some of the best sports betting sites is becoming more and more popular with both rural and urban people as internet usage increases. The World Bank estimates that 60% of people used the internet in 2020, up from 54% in 2019. Thus, the value of the sports betting market is increasing as internet usage and smartphone adoption rise.
  • The population of cities has significantly increased as a result of rapid urbanization. The World Bank estimates that 56% of the world’s population lived in cities in 2019, up from 55% in 2018. Urban residents have access to tempting sports betting options. Also anticipated to have a beneficial effect on the global sports betting market is the boost in smartphone penetration.
  • Based on platform, in 2021, the offline market category for sports betting accounted for a sizable sports betting market share. The market category is almost certainly going to maintain its market share in the forthcoming years. In contrast to online sports betting, the majority of individuals still prefer the actual human contact of sports betting kiosks. Dealing with instances of fraud or misbehavior is seen to be better handled physically through personal connection, which is also one of the sports betting industry trends.

Global Sports Betting Market: Growth Drivers

  • In terms of game type, football prevailed in the global market in 2021, with far more money being spent on football betting than any other sports. The LaLiga, Premier League, Bundesliga, and FIFA World Cup all are anticipated to have an increase in popularity throughout the forecast period.
  • In 2021, Europe accounted for the lion’s share—roughly 50%—of the sports betting industry. Rugby, football, tennis, and motor racing are just a few of the top sports in Europe that have sizable, devoted fan bases who actively partake in sports betting. Furthermore, the adoption of strict betting laws and guidelines has considerably decreased fraud in Europe, which is expected to benefit expansion of the Europe sports betting market.

Global Sports Betting Market: Key Players

Some of the key market players are

  • Fortuna Entertainment Group
  • GVC Holding plc.
  • Hong Kong Jockey Club
  • Paddy Power Betfair plc.
  • mybet Holding
  • The Stars Group

Global Sports Betting Market: Segmentation

Platform

  • Online
  • Offline

Game Type

  • Football
  • Baseball
  • Basketball
  • Hockey
  • Cricket
  • Tennis
  • Golf
  • Boxing
  • Horse Racing
  • Auto Racing
  • Others

Consumer Goods Research Reports

Industrial Protective Footwear Market – The global industrial protective footwear market is expected to reach US$ 10.87 Bn by the end of 2031, grow at a CAGR of 4.84% from 2022 to 2031

Winter Sports Equipment Market – The global winter sports equipment market is expected to reach a value of US$ 3602.2 Mn by the end of 2031, expand at a CAGR of 4.1% from 2022 to 2031

Asia Pacific Footwear Market – The Asia Pacific footwear market is expected to surpass the value of US$ 846.9 Bn by the end of 2031, expand at a CAGR of 8.7% from 2021 to 2031

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Board Games & Puzzles Market – The global board games & puzzles market is expected to surpass the value of US$ 24.5 Bn by the end of 2031, expand at a CAGR of 7% from 2021 to 2031

Golf Rangefinder Market – The global golf rangefinder market is expected to cross the value of US$ 728.3 Mn by the end of 2031, expand at a CAGR of 7.7% from 2021 to 2031

Helmet Market – The global helmet market is estimated to reach a value of US$ 34.2 Bn by 2030, expand at a CAGR 5.7% during the forecast period

Europe Climbing Gym Market – Europe climbing gym market is expected to reach the value of US$ 2 Bn by 2031, expanding at a CAGR of 9.9% during the forecast period

Sports Protective Equipment Market – The global sports protective equipment market is expected to reach US$ 13.35 Bn by the end of 2031, grow at a CAGR of 5.2% from 2022 to 2031

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WSOP Circuit Returns to Latin America – Qualify Exclusively at GGPoker

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GGPoker, the World’s Biggest Poker Room, is excited to announce the launch of online satellite tournaments for the upcoming WSOP Circuit Panama 2025 live poker event.

This exciting event will put Latin American poker back in the spotlight and is set to bring together the continent’s top players from November 6 to 16 at the prestigious Hilton Panama Hotel and the exclusive StarBay Casino.

Featuring 12 official World Series of Poker gold ring events, a full schedule of side tournaments, VIP activities, international media coverage, and a stunning seaside location, WSOP Circuit Panama promises to be one of the year’s most spectacular stops for both professional and recreational players.

Gregory Chochon, Chief Operating Officer of the World Series of Poker, added:

“We are proud to see the WSOP Circuit continue to grow internationally. Latin America is a passionate and fast-growing poker region, and events like WSOP Circuit Panama bolster our mission to bring the WSOP gold ring experience to players around the globe.”

GGPoker players can qualify via a 12-week online satellite series, with 20 guaranteed packages worth $2,500 USD each. Each package includes a $1,700 Main Event entry and $800 for travel expenses. Satellites start at just $5, giving players across Latin America the chance to live the full WSOP experience in Panama.

Online Satellite Schedule on GGPoker (ET time):

Day

Time (ET)

Tournament Name

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Mon–Sat

3-4-5-6-7 PM

WSOP-C Panama – $5 Daily Satellite

Sunday

12-1-2-3-4 PM

WSOP-C Panama – $5 Daily Satellite

Mon-Sun

8 PM

WSOP-C Panama – $33 Package Qualifier

Sunday

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4 PM

WSOP-C Panama – $22 Last Chance Satellite

Sunday

7 PM

WSOP-C Panama – $215 Weekly Final

WSOP-C Panama Satellite Stats (over 12 weeks):

  • $5 Satellites: 1,296 tournaments

  • $33 Qualifiers: 312 tournaments

  • $22 Last Chance: 12 tournaments

  • $215 Weekly Finals: 12 tournaments

Guaranteed Packages ($2,500 each):

  • Weeks 1–4: 1 package per week

  • Weeks 5–12: 2 packages per week

  • Total: 20 guaranteed packages

  • Total Prize Value: $50,000 USD

In addition to winning a coveted WSOP Circuit gold ring, each ring event winner in Panama will also receive a $5,000 WSOP Circuit Championship package, which includes:

  • $2,750 entry to the Mystery Bounty WSOP Circuit Championship

  • 6-night stay at Atlantis (Coral or Royal Towers)

  • Complimentary buffet access during the stay

“WSOP Circuit Panama is a unique opportunity for players across Latin America to enjoy a world-class poker experience in an extraordinary setting,” said Juan Carreño, GGPoker Representative.

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Caesars Entertainment Debuts IGT’s Kitty Glitter Grand Slot Across its Online Casino Platforms and Inside its Atlantic City Resorts

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Caesars Entertainment Inc. announced it is the first in the industry to launch IGT’s newest installment of its beloved slot title, Kitty Glitter Grand. The game is now live across Caesars Palace Online Casino, Horseshoe Online Casino, and Caesars Sportsbook & Casino in New Jersey, Pennsylvania, Michigan, West Virginia, and Ontario. It’s also available at Caesars Rewards destinations in Atlantic City, including Caesars and Harrah’s, with Tropicana set to join the lineup soon, subject to final regulatory approval.

This debut marks IGT’s first simultaneous exclusive launch of a game both online and in casinos in the US. As a result, Caesars is currently the only place where fans of the Kitty Glitter franchise can experience this latest installment, whether in person or online.

“The popularity of Kitty Glitter Grand speaks for itself across gaming floors at our Caesars Rewards destinations, which is why we couldn’t be happier that our players will be the first to enjoy the newest title in this renowned brand’s history. We know how impactful exclusive launches can be, so we’re grateful to our partners at IGT for their trust in partnering with us on their first simultaneous online and in-casino launch in the United States. We’re committed to bringing first-to-market, unforgettable experiences to our online casino players that can’t be found anywhere else,” said Matthew Sunderland, Senior Vice President and Chief iGaming Officer at Caesars Digital.

“The exclusive launch of Kitty Glitter Grand is another shining example of how we’re strengthening the powerful connection between our world-class destinations in Atlantic City and beyond with our dynamic digital platforms. We’re uniquely positioned to deliver exclusive, first-to-market gaming experiences that our guests can enjoy both on the casino floor and from the comfort of their home. This launch underscores our commitment to offering best-in-class entertainment wherever our players choose to engage,” said Barron Fuller, Regional President at Caesars Entertainment.

For more than twenty years, Kitty Glitter has been a fan favorite in brick-and-mortar casinos, and its enduring popularity continues to captivate players. This latest installment offers an enhanced gameplay experience with recognizable collection features that players already know and love from the original Kitty Glitter game, while adding even more compelling new enhancements. Both new players and fans of the original can enjoy an added wheel bonus and random wilds in the base game, which help boost these themes to the next level.

“We’re thrilled to partner with Caesars on the exclusive launch of Kitty Glitter Grand, a title that builds on one of IGT’s most iconic brands. This first-of-its-kind simultaneous launch across online and land-based channels in the U.S. reflects our commitment to innovation and delivering engaging content that resonates with players wherever they choose to play,” said Nick Khin, CEO of Gaming at IGT.

In celebration of this special debut, Caesars plans to host an exclusive VIP event for select Caesars Rewards members at Caesars Atlantic City in August. The Company is also running an omnichannel promotion at its Atlantic City destinations and a special leaderboard promotion across its digital platforms in all jurisdictions where it offers iGaming, excluding Ontario.

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Compliance Updates

NCPG Celebrates Senate Action on Military Gambling Addiction Research

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The Senate Appropriations Committee approved a key provision in the FY26 Senate Defense Appropriations Bill that would, for the first time, make gambling addiction an eligible research topic under the Department of Defense’s Peer-Reviewed Medical Research Program (PRMRP). The decision marks a historic step in addressing gambling disorder as a behavioral health condition impacting active duty servicemembers and Veterans.

The provision was championed by a broad group of lawmakers, led by Senator Ben Ray Luján (D-NM), and supported by more than two dozen state affiliates of the National Council on Problem Gambling (NCPG), as well as leading operators from the gambling industry including FanDuel, BetMGM, and MGM Resorts International.

“The Committee’s action will finally give researchers, local VA clinicians, and military health officials the ability to better understand and address gambling addiction among those who serve. We’re grateful to our allies in Congress, industry partners, and the public health community for making this progress possible,” said Derek Longmeier, President of NCPG’s Board of Directors.

According to recent research from NCPG, nearly 20 million American adults report experiencing at least one problematic gambling behavior “many times” in the past year. Although this research suggests that the risk for gambling problems may be stabilizing, military communities remain disproportionately affected.

Gambling addiction is one of the most under-researched behavioral health conditions among military populations even though servicemembers are twice as likely as civilians to experience gambling problems. Nearly 40% of veterans who seek treatment for gambling addiction report having attempted suicide.

“Servicemembers and Veterans facing gambling addiction deserve the same level of support and understanding we’ve worked to build around PTSD, depression, and other behavioral health challenges. This provision is a critical step toward recognizing the realities our military community faces and ensuring the federal government invests in the basic, foundational research needed to support recovery,” said Sen. Ben Ray Luján.

Congress previously mandated annual screenings for gambling disorder in the FY2019 National Defense Authorization Act. However, without federal research funding, military and local VA clinicians lack the data and tools necessary to facilitate early intervention or provide evidence-based care.

If enacted into law, the FY26 Defense Appropriations bill would establish the first federally recognized pathway for research into gambling addiction in the military. The bill now proceeds to the full Senate for consideration.

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