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The Global Sports Betting Market is Anticipated to Expand Notably and Exceed US$ 245,792.4 million in 2033 – Future Market Insights, Inc. Projection

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The sports betting market is predicted to be worth US$ 91,940.9 million in 2023, rising at a CAGR of 10.3% to US$ 245,792.4 million by 2033. The expanding prevalence of connected devices, sports betting implementation, and developing digital infrastructure all add to the increasing demand for sports betting.

The increased desire for the digitalization of sports betting might have a positive effect on the online section of the sports betting industry, which is expected to enjoy substantial growth throughout the projected period. However, to provide consumers with new sports betting market options for employment and enriching experiences, several governments are establishing frameworks influencing forthcoming trends in the sports betting market.

One of the important developments in the sports betting market is the expanding impact of technologies including blockchain, virtual reality, and AI, notably machine learning tools. Moreover, the sports betting market is predicted to grow over the forecast period due to rising consumer demand for sports betting, which is being fueled by technological developments.

Key companies in the sports betting sector are progressively focusing a considerable amount of their efforts on machine learning tools and approaches that have shown promising outcomes in prediction. Further, machine learning aids in accelerating the creation of predictive algorithms and precise forecasting models, resulting in increased betting efficiency.

Sports bettors are likely to become familiar with new machine-learning algorithms that seek to forecast the outcomes of games and races. As a result, during the projected period, the expansion of machine learning is estimated to be a benefit to the global sports betting business.

Key Takeaways from the Sports Betting Market Report:

  • In 2022, North America held a 28.1% market share.
  • In 2022, the United States captured a 16.5% market share.
  • India’s market is expected to develop at a CAGR of 13.4%.
  • China’s market is expected to increase at an 8.2% CAGR.
  • The football segment accounted for 20.2% of the worldwide sports betting market.

“The latest market research study highlights the dynamic landscape of the Sports Betting Market. The comprehensive analysis reveals the market’s robust growth fueled by technological advancements, increasing online accessibility, and evolving consumer preferences. With a focus on key players, emerging trends, and regulatory frameworks, the study provides valuable insights for stakeholders navigating this vibrant and rapidly expanding industry.” – says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.

Competitive Landscape:

The top sports betting market operators focus on establishing engaging websites and giving exclusive deals to acquire a competitive edge in the sports betting business.

  • Bet365’s e-sports betting service was  available in Colorado beginning in September 2022. The sportsbook company was operating with its betting service on the market after obtaining one of Century Casinos’ master licenses from the state.
  • William Hill, a sports betting and web-based casino administrator, created its main brand and stated plans to significantly increase its profits in Latvia in May 2022. In addition, William Hill intends to leverage existing media relationships with bespoke creatives based on the Brotherhood brand approach.

Key market players:

  • 888 Holdings Plc.
  • Bet365
  • Betsson AB
  • William Hill

Valuable Insights:

Future Market Insights, in its new offering, presents an unbiased analysis of the global sports betting market presenting a historical analysis from 2018 to 2022 and forecast statistics between 2023 and 2033.

The study reveals essential insights By Platform (Offline, Online), by Betting Type(Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, Others), By Sports Type (Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, Others) & Region.

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Sports Betting Market Segmentation:

By Platform:

  • Offline
  • Online

By Betting Type:

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

By Sports Type:

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

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South Asia & Pacific
  • East Asia
  • The Middle East & Africa (MEA)

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EGTs RK6C roulette with a first-ever installation at Volcano Casino in Montenegro

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EGT’s RK6C roulette made its debut on a global level. The product was installed at the sophisticated Volcano Casino in Ulcinj, Montenegro, earlier this month.

We are very happy that the first installation of RK6C was accomplished here,” said Milen Dimitrov, Director of EGT’s office, responsible for Croatia, Montenegro, and Slovenia. “We have a long-term, fruitful cooperation with the operator, which we have now strengthened once again. This roulette has enormous potential to become a favorite of the casino’s customers and the results it has demonstrated so far are eloquent testimony.”

RK6C is the latest member of the company’s portfolio of ETG solutions. Standing out with a sleek design featuring 6 play stations and numerous advanced features, including dynamic LED lighting and engaging sound effects, it provides players with a state-of-the-art gaming experience. Guests of the establishment enjoy unparalleled comfort while trying their luck with Blue Power HD and Green Power HD multigame mixes, containing some of EGT’s well-known slot titles combined with widely preferred multiplayer games such as Baccarat, Blackjack, European, and American Roulette.

Adi Plakalo, Chief Executive Officer, Vezuv d.o.o., highly appreciated the product’s performance. He stated: “Having in mind the great popularity that EGT’s slot games and cabinets from General, Phoenix, and General Series have gained among clients on all our casino floors, we had very high expectations for the RK6C. It not only met, but even exceeded them. That is why, next month, another roulette of this model will be available at one of our other locations. We are also considering more installations in the future.”

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Detroit Casino Revenue Finds a Balance as Michigan Online Casinos Surge

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There’s no denying that Michigan online casinos are still in a growth pattern.

Revenue records seem to be set almost every month, and yearly projections don’t seem to have a limit.

While the iGaming landscape continues to thrive, the three Detroit commercial casinos have found a leveling off point.

Though the three locations haven’t been able to approach the revenue totals they hit prior to the pandemic, there’s still steady cash flow coming in despite a lot of obstacles over recent years.

Detroit’s 2025 Revenue Just Below 2024

Detroit has three commercial casinos that operate in the downtown area. They are the MGM Grand Detroit, MotorCity Casino, and Hollywood Casino at Greektown.

The 2025 revenue for the three casinos through seven months has been similar to what they have seen in recent years. Overall, it is down less than a percentage point compared to 2024, but three of the seventh months have seen revenue growth year over year.

The data suggests that 2025 has been more consistent with its revenue than 2024. The high this year wasn’t quite as high, but the low also wasn’t nearly as low.

Detroit Levels Off as Online Casinos Grow

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Prior to the COVID-19 pandemic, Detroit was seeing record revenue for its three casinos. The $1.45 billion it did in 2019 was an all-time high.

The slow return from the pandemic eventually led to a leveling off for Detroit, as yearly revenue since 2020 has ranged from $1.22 billion to $1.28 billion.

As that has played out, online casinos debuted in Michigan in January 2021. The first year of revenue was $1.11 billion, but has since more than doubled that total in 2024.

Through seven months of 2025, Michigan online casinos are already at $1.72 billion in revenue. That alone is more than all of 2021 or 2022, respectively. After August’s numbers come in, the total is likely to have surpassed 2023’s mark as well.

This year’s OC revenue is already over 27% ahead of where it was a year ago. Through July, Michigan’s iGaming had generated $1.35 billion in 2024.

Through seven months, the state is averaging over $245 million in monthly online casino revenue. Prior to 2025, Michigan had never hit $245 million in revenue for any month in its online casino history.

Should Michigan continue this pace, it will surpass $2.9 billion in annual iCasino revenue. The last quarter of the year has trended toward being the strongest revenue months each year, so $3 billion isn’t out of the question. If the 27% growth rate holds, the state would hit $3.1 billion in 2025 revenue.

Each new record just brings in more tax revenue for the state as well. Initial projections when Michigan pursued online casinos was around $40 million in annual tax revenue. The first year of 2021 brought in $201.7 million in state tax revenue and another $77.6 million in local taxes.

In 2024, Michigan online casinos generated $451.4 million in state tax revenue and another $168.7 million in local taxes. This year’s iGaming has already generated $330.0 million in state tax revenue and another $124.7 million in local taxes.

Source: saturdaytradition.com

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Brazil Congress Told to Focus on $6.4B Gambling Revenue Losses to the Black Market

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Brazil’s Permanent Subcommittee on Sports Betting Regulation has stressed that greater focus must be placed on the massive revenue losses to the illicit black market.

In recent days, a public hearing in Congress detailed that the underground gambling sector is believed to generate around R$35 billion ($6.4 billion) per year. That is thought to equal around half of all online gambling activity in Brazil.

There was a consensus at the hearing that the primary challenge facing the South American nation was not the regulated gambling industry, but the proliferation of illegal platforms, and the absence of any controls or player protections.

As with all underground gambling networks, the government in Brazil does not receive any tax revenues from these operations.

Participants at the hearing included the Brazilian Institute for Responsible Gambling (IBJR), together with lawmakers, industry representatives, and other authority bodies.

Fernando Vieira, CEO of the IBJR, noted that the illegal market’s revenue rivals the legal market’s R$38 billion figure, causing the government to lose approximately R$10.8 billion ($2 billion) in tax revenue annually due to untaxed operations.

The discussion placed great emphasis on the fact that illegal platforms operate without any oversight, age controls, or user protections, which only increases the risks of underage gambling, fraud, and other illicit activity.

Last month, the IBJR presented new data showing that the Central West region uses illegal betting platforms more than anywhere else.

Since last year, authorities in Brazil are estimated to have blocked around 17,000 unauthorized websites, averaging over 1,700 per month.

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However, the Brazil Congress hearing was told that efforts must be increased to combat the illegal market, especially with the funds that are collected from the regulated sector.

Deputy Caio Vianna, President of the Subcommittee, who initiated the hearing, called for “financial suffocation” of illegal operators by targeting their payment methods, as shutting down websites alone is insufficient due to their ability to quickly relocate under another jurisdiction.

There was also significant opposition expressed toward the proposed measure, currently under review in the Brazil Congress, to increase the tax on gross gaming revenue from 12% to 18%, which the IBJR warns could weaken the legal market and create further momentum for the growth of illegal platforms.

IBJR chief Viera added, “This is a turning point. If Brazil shifts just 5 percentage points from the illegal to the regulated market, the additional revenue could reach R$1 billion per year.

“The solution is not to hastily increase taxes, but rather to invest in oversight, monitor financial transactions, certify suppliers, and raise consumer awareness. Only then will we reduce the scale of illegality and consolidate a strong and sustainable regulated sector.”

Source: readwrite.com

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