Press Releases
Sports Betting Market Size Is Likely to Experience a Tremendous Growth of USD 167.66 billion by 2029, registering a CAGR of 10.26 % by Size and Share, Industry Growth, Regional Outlook, Challenges and Analysis
A Qualitative Research Study accomplished by Data Bridge Market research’s database of 350 pages, titled as “Global Sports Betting Market” with 100+ market data Tables, Pie Charts, Graphs & Figures spread through Pages and easy to understand detailed analysis. Sports Betting Market research report works as a best solution to know the trends and opportunities in the Sports Betting Market industry. The report has been framed with the most excellent and superior tools of collecting, recording, estimating and analyzing market data. This report gives broader perspective of the market place with its all-inclusive market insights and analysis. The information, statistics, facts and figures delivered via this report helps companies in Sports Betting Market industry to maximize or minimize the production of goods depending on the conditions of demand. Sports betting markets are similar to traditional financial markets in several aspects. Sports betting markets potentially have much in common with stock markets. Events on which wagers are made could be anything from more traditional activities such as dog or horse to sports like American football and soccer. Bets are normally made through bookmakers which is also known as sports books. These bookmakers operate both as land-based establishments, such as at casinos or betting shops, and online.
Data Bridge Market Research analyses that the Sports Betting Market was valued at USD 76.75 billion in 2021 and is expected to reach USD 167.66 billion by 2029, registering a CAGR of 10.26 % during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behavior.
Market Overview:-
Sports betting markets are similar to traditional financial markets in several aspects. Sports betting markets potentially have much in common with stock markets. Events on which wagers are made could be anything from more traditional activities such as dog or horse to sports like American football and soccer. Bets are normally made through bookmakers which is also known as sportsbooks. These bookmakers operate both as land-based establishments, such as at casinos or betting shops, and online.
Sports betting are the activity which is work for predicting sports results and then placing a wager on the outcome. The occurrence of sports bet upon differs by culture, with the vast mainstream of bets being placed on association such as mixed martial arts, American football, basketball, baseball, hockey, track cycling, auto racing, and boxing at both the personal and amateur levels. Sports betting can also prolong to non-athletic events, like politics election and reality show contests. This is also for non-human contests like greyhound racing, horse racing, and illegal, underground cockfighting.
Opportunities
The large number of customers are engaging in leisure activities such as sports betting and try to seeking extra income with entertainment. Moreover, interactive games are gaining the interest of the young generation. Although a significant number of population is indulging in competitive matches for hobby, entertainment and income which attract large audiences which will act as market drivers and further boost opportunities for the market’s growth rate.
Moreover, surge in purchasing power of middle-income groups, expansion of distribution channels, and rise in awareness regarding the products and smart strategic marketing activities will positively affect the growth of the sports betting market. Also, application of 5G networks, A.I. and block chain technologies extend the beneficial opportunities to the market players.
Some of the major players operating in the sports betting market are:
- william Hill (U.K.)
- Entain (U.K.)
- 888 Holdings (Spain)
- Kindred Group plc (Malta)
- Flutter Entertainment plc (Ireland)
- The Stars Group inc, (Canada)
- Bet365 (U.K.)
- Bet-at-home.com (Germany)
- BetAmerica (U.S.)
- Betfred (U.K.)
- Betsson (Sweden)
- Draft Kings (U.S.)
- Fan duel (U.S.)
- Gala coral group (U.K.)
- Ladbrokes (U.K.)
- Sportech PLC (U.K.)
- TVG (U.S.)
- Twinspires (U.S.)
- Watch and Wager (U.S.)
Research objectives
- To study and forecast the market size of this in global market
- To analyze the global key players, Porte’s Five Forces analysis, value and global market share for top players
- To define, describe and forecast the market by type, end use and region
- To analyze and compare the market status and forecast among global major regions
- To analyze the global key regions market potential and advantage, opportunity and challenge, restraints and risks
- To identify significant trends and factors driving or inhibiting the market growth
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies
Sports Betting Market Dynamics
Drivers
Rising the usage of online betting
There are many areas where peoples involving in online gambling, especially sports betting, this attracts mostly the younger population. It also reaches to that population which does not follow the sports and is available in many countries where sport betting is legal or illegal. The average age group of an online sports bettor is 38 years whereas the average age of a land-based sports bettor is 45 years. Due to increasing population towards sports betting are expected to drive the market growth rate.
Growing digital infrastructure
The growth of digital infrastructure and the prevalence of wireless connectivity are expected to drive the sports betting market growth rate. The rising usage of smartphones has changed the way of performance of consumer’s activities especially in sports betting. There are around 6.3 billion smartphone users globally and this number is increasing every year which is the main reason for enhancing the population in Sports Betting Market.
Shifting consumer habits
There has been a substantial change in the consumer behavior regarding sports betting. The rise in the popularity of social gambling and gambling apps will drive the growth of the sports betting market during forecast period. Now, Vendors are taking advantage of those population which is using Internet to develop innovative social gambling games. The large number of people participating in social gambling which is also growing because of competing with their friends is the major reason for the gamers to adopt social gaming.
Gambling in the USA
Casino Management Systems Market size worth $ 30.36 Billion, Globally, by 2031 at 15.5% CAGR – Report By Verified Market Research®
The Global Casino Management Systems Market is projected to grow at a CAGR of 15.5% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 9.59 Billion in 2024 and is expected to reach USD 30.36 Billion by the end of the forecast period.
Scope Of The Report
REPORT ATTRIBUTES | DETAILS |
STUDY PERIOD | 2021-2031 |
GROWTH RATE | CAGR of ~15.5% from 2024 to 2031 |
BASE YEAR FOR VALUATION | 2024 |
HISTORICAL PERIOD | 2021-2023 |
FORECAST PERIOD | 2024-2031 |
QUANTITATIVE UNITS | Value in USD Billion |
REPORT COVERAGE | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
SEGMENTS COVERED |
|
REGIONS COVERED |
|
KEY PLAYERS | International Game Technology, Scientific Games Corporation, Everi Holdings Inc., NCR Corporation, Micros Systems, Konami Gaming, Light & Wonder, Astra Gaming Group, Novomatic AG Group, Gauselmann Group, Gamesys Group plc, BetConstruct, Melco Resorts & Entertainment, Galaxy Entertainment Group, SJM Holdings Limited, Suncity Group, Paradise Entertainment Limited |
CUSTOMIZATION | Report customization along with purchase available upon request |
Casino Management Systems Market Overview
Technological Advancements Propel Growth: Technological advancements play a crucial role in driving the ever-changing Casino Management Systems Market. Advancements like AI-powered analytics, integration with IoT, and mobile compatibility contribute to improved operational efficiency and increased customer engagement. These advancements fuel the need for businesses to improve their operations and provide exceptional customer experiences, leading to the growth of the market.
Rising Demand for Enhanced Security Solutions: Security is a major concern in the Casino Management Systems Market, leading to a high demand for cutting-edge security solutions. Given the rising number of fraudulent activities and data breaches, casinos are actively looking for strong security measures to protect their assets and ensure the safety of customer information. Addressing these concerns, solutions that provide biometric authentication, encryption, and real-time monitoring can foster trust among stakeholders and contribute to market growth.
Increasing Regulatory Compliance Requirements: The Casino Management Systems Market is seeing a notable increase in demand due to the growing importance of regulatory compliance. Comprehensive compliance solutions are required to meet the stringent regulations in the gaming industry. By utilising systems that provide regulatory reporting, audit trails, and age verification capabilities, casinos can ensure compliance with legal requirements and prevent potential penalties. The increasing emphasis on compliance highlights the significance of advanced management systems, driving the growth of the market.
High Initial Investment Costs: One of the main challenges in the Casino Management Systems Market is the significant upfront costs involved in implementing comprehensive management solutions. Acquiring, integrating, and customising these systems can result in significant upfront expenses for casinos. The financial obstacle hinders the expansion of the market, especially for small and medium-sized businesses. Nevertheless, companies that offer adaptable pricing structures and scalable solutions can help alleviate this limitation, thereby expanding the market’s accessibility to a wider array of businesses.
Integration Challenges and Legacy Systems: The Casino Management Systems Market faces significant challenges due to the complexities of integration and the presence of legacy systems. It is common for casinos to have a wide range of IT infrastructures, some of which may be outdated and incompatible with modern management solutions. Implementing new systems and ensuring smooth compatibility with current infrastructure demands significant time, resources, and specialised knowledge. The integration challenges mentioned can impede market growth as they result in longer implementation timelines and higher deployment costs.
Concerns Regarding Data Privacy and Security: In the ever-growing landscape of data breaches and privacy scandals, the Casino Management Systems Market faces significant challenges when it comes to data privacy and security. Casinos are responsible for managing extensive amounts of sensitive customer data, which includes personal and financial information. This makes them highly attractive to cyber threats. With increasing regulatory scrutiny, casinos are under growing pressure to maintain data protection standards and ensure the privacy of their customers. Tackling these concerns necessitates strong security measures and adherence to data privacy regulations, which introduces additional complexity and expenses to system implementations, thereby limiting market expansion.
Geographic Dominance:
The forecast period is expected to see the Asia Pacific region experiencing the most significant growth. Several countries in the Asia Pacific region, such as Macau, Singapore, the Philippines, and South Korea, have experienced significant expansion in their casino industry. Emerging markets are actively expanding their gaming sectors in order to attract more tourists and boost revenue. This expansion requires sophisticated management systems to optimise operations, enhance visitor experiences, and ensure compliance with regulations.
In addition, the Asia-Pacific region has experienced a notable rise in middle-class populations and disposable incomes. As a result, there has been a growing trend of increased leisure spending, with a particular focus on gaming and entertainment. With the increasing number of casino visitors, there is a growing need for cutting-edge casino management systems. This has led to the creation of innovative technologies that enhance customer service, marketing strategies, and overall operational efficiency.
Casino Management Systems Market Key Players Shaping the Future
Major players, including International Game Technology, Scientific Games Corporation, Everi Holdings Inc., NCR Corporation, Micros Systems, Konami Gaming, Light & Wonder, Astra Gaming Group, Novomatic AG Group, Gauselmann Group, Gamesys Group plc, BetConstruct, Melco Resorts & Entertainment, Galaxy Entertainment Group, SJM Holdings Limited, Suncity Group, Paradise Entertainment Limited. and more, play a pivotal role in shaping the future of the Casino Management Systems Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry’s key players.
Casino Management Systems Market Segment Analysis
Based on the research, Verified Market Research® has segmented the global Casino Management Systems Market into Module, Application, And Geography.
- Casino Management Systems Market, by Module
- Slot Games
- Table Games
- Casino Management Systems Market, by Application
- Accounting
- Security & Surveillance
- Players Tracking
- Marketing & Promotions
- Gaming Analytics
- Others
- Casino Management Systems Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
Leading Casino Management Systems taking gambling to new heights
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Latest News
UNLV International Gaming Institute Announces Inaugural ESPN Research Fellows
The resulting research will provide insights into the impact of responsible gambling messages used by media in covering the global sports wagering and gaming industry
The University of Nevada, Las Vegas (UNLV) International Gaming Institute (IGI) is excited to announce the recipients of the 2024 ESPN Research Fellowships. This year’s selection showcases a diverse group of scholars whose innovative project proposals will be pivotal in advancing knowledge on responsible gambling messaging in sports media.
Fellowships have been awarded to:
- Dr Hannah Borenstein, Harper-Schmidt Postdoctoral Fellow and Collegiate Assistant Teaching Professor at The University of Chicago
- Chance Dow, a Master’s student at the University of Memphis’ Tennessee Institute of Gambling Education and Research
- Dr Eric R Louderback, Research and Evaluation Scientist in the Division on Addiction at Harvard Medical School
- Dr Brian Petrotta, Assistant Professor of Sport Media and Communication at the University of Nebraska-Lincoln, and Dr Travis Bell, Associate Professor of Digital and Sports Media at the University of South Florida
Each of the Fellowship proposals address unique facets of responsible gambling messaging in sports media. As the intersection between sports and gambling continues to evolve, the work of these scholars is essential in promoting healthy gambling practices and awareness.
These projects will provide insights into practical strategies that policy-makers and the industry can adopt to help safeguard the wellbeing of sports enthusiasts and the public at large.
Dr Borenstein will explore the relatively untapped domain of track and field and marathon running. Dr Borenstein’s investigation focuses on the implications of integrating gambling into mainstream broadcasting and spectating of these sports.
Dow will investigate the nuances of gendered gambling and responsible gambling. Dow’s study examines how to enhance the effectiveness of responsible gambling messages, particularly among college student populations.
Dr Louderback will analyze video-based sports gambling advertisements on social media. Dr Louderback’s research looks at how responsible gambling messages influence advertisement effectiveness and demonstrates the use of publicly available social media data in advancing knowledge in responsible gambling.
Dr Petrotta and Dr Bell will analyze actual gambling broadcasts during ‘March Madness’ competitions. The study explores how responsible gambling messages are conveyed and will provide crucial insights into real-world practices during live sports broadcasts.
“The IGI is tremendously excited about these projects,” the Executive Director for the IGI, Dr Brett Abarbanel, said. “A key goal of this initiative is to support innovative and impactful research to better understand the rapidly changing global sports and betting environment. This research represents a broad range of perspectives on how gambling is represented in sports media and holds important implications for all gambling stakeholders.”
“ESPN is proud to work with IGI to advance responsible gaming standards through this comprehensive research,” ESPN Corporate Citizenship Vice-President Kevin Martinez said. “These diverse research projects will help to inform how the industry can continue to respond to and improve upon responsible gaming practices in the sports entertainment ecosystem.”
Each research fellowship lasts for a duration of six (6) months. The results of the research will be featured in an IGI webinar in early 2025.
Latin America
CGS Events Revolutionizes the Chilean Gaming Scene with the Launch of CGS Santiago in its Fourth Edition
CGS Events, an American company with over 20 years of experience and a history of collaboration with governments across various territories in Latin America and the Caribbean, known for its distinguished track record in organizing events within the gaming industry, has recently announced a complete overhaul of its image and structure. This marks a milestone in the provision of professional sector meetings with innovations like Gaming Insights, XPO 360 and CGS Xperience at various convention centers across Latin America, thereby paving the way for new participants and expanding the market offering.
It announces its next event, CGS Santiago, which will be held on May 29 and 30 at Espacio Riesco, a renowned convention center in the capital of the country. This fourth edition in the southern country promises to be broader and more inclusive than ever, positioning itself as a crucial forum for discussing the imminent regulation of the sector in Chile.
CGS Santiago will offer two days filled with knowledge, with more hours dedicated to conferences, discussion panels and parallel activities. Participants will enjoy the experience of a space dedicated to the presentation of new products, services and solutions for the gaming industry.
The event will also provide excellent networking opportunities including a welcome cocktail, a gala dinner and the CGS Awards ceremony where the outstanding achievements of key market players will be recognized. The guest list includes regulators, tax experts, cybersecurity specialists, FinTechs, marketing agencies, representatives from casinos, lotteries, iGaming and certification laboratories among others.
This year, the event will also include the Chat and Wine segment, sponsored by the prestigious Brazilian company Pay4Fun, designed to foster dialogue while attendees enjoy an excellent selection of national wines.
With these new proposals, CGS Events positions itself as a benchmark in creating meeting and dialogue platforms in the gaming industry in Latin America and the Caribbean as well as redefining the way professionals and companies in the sector connect and explore future opportunities in an evolving market.
For more information about CGS Santiago and other events, visit the website: www. CGSEvents. io and access details about the CGS Santiago event.
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