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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)

Gaming

10-15% Of Gamers In Florida Show Signs Of Gaming Addiction: Here Are 10 Signs Your Kid Is Suffering From It (And How You Can Help)

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Recent studies indicate that 10-15% of young gamers in Florida exhibit signs of gaming addiction. These findings underscore the need for early identification of symptoms to prevent negative impacts on children’s mental and physical health. Gaming addiction, if not dealt with, can lead to poor academic performance, social withdrawal, and even health problems.

Marin Cristian-Ovidiu, CEO of FreezeNova, discusses key indicators of gaming addiction and offers practical advice for parents.

Recognizing Early Signs

“Early recognition of gaming addiction is crucial in preventing long-term negative outcomes,” Marin explains. The following signs can help parents identify if their child might be developing an addiction:

Exhaustion and Irritability

Constant tiredness and grumpiness during the day could indicate late-night gaming sessions interfering with sleep.

Gaming Obsession 

If gaming dominates your child’s thoughts and conversations, and they plan their day around it while neglecting other responsibilities, it could be a sign of addiction.

Decline in Academic Performance and Lost Interests

A noticeable decline in academic performance or loss of interest in previously enjoyed activities may suggest your child is prioritizing gaming over more important tasks.

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Emotional Volatility

Extreme emotional reactions to in-game outcomes, such as uncontrolled anger, known as ‘Gamer Rage’, or intense celebrations, could indicate an unhealthy attachment to gaming.

Physical Strain

Signs of repetitive strain injuries like ‘Gamer’s Thumb’ or ‘Nintendo Neck’ from prolonged screen time are warning signals.

Neglecting Basic Needs 

If your child is neglecting basic needs like eating, sleeping, or hygiene to keep playing, gaming has likely taken an unhealthy control over their life.

Creating a Supportive Environment

While video games can be a great source of entertainment and connection, around 70% of people with signs of gaming addiction also experience social disorders. Marin recommends a few tips for building a supportive and open environment for your child.

Teamwork and Setting Boundaries

“Parents and children should work together to create a healthy gaming environment. Gaming addiction requires a holistic approach,” Marin advises. Start by setting clear boundaries on gaming time to ensure there’s room for schoolwork, chores, and quality family time.

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Revisit activities your child once loved, like football practice or exploring new hobbies together. It’s vital for your child to take breaks from screens, so create a balanced daily routine that includes homework, chores, exercise and just some gaming time. This allows your child to enjoy their games without neglecting other aspects of their life.

Open Communication

Maintain open communication. Discuss the games your child enjoys and any concerns you might have. By understanding their world, you can work together to find solutions.

Remember, you’re not alone. If you feel overwhelmed, seek professional help from specialists in gaming addiction. Marin concludes, “By working as a team, setting clear boundaries, and fostering open communication, we can help your child develop a healthy relationship with gaming and thrive in all areas of life.”

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Bally’s Interactive Launches the New Bally Bet Sportsbook & Casino App in Ontario

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Bally’s Interactive, the digital and sports betting division of Bally’s Corporation, has launched the all-new Bally Bet Sportsbook & Casino app in Ontario, Canada. This latest release marks another significant milestone for the company, following the recent app update in New Jersey and a series of successful app launches in the past year, including the introduction of Bally Bet Sportsbook across multiple states and Bally Casino in Rhode Island.

The updated Bally Bet Sportsbook & Casino app represents a major step forward, as it combines the functionalities of the existing Bally Casino app and Bally Bet Sportsbook app into one comprehensive platform. Powered by White Hat Gaming, this new app allows players residing in or traveling to Ontario to conveniently place wagers on both sports and casino games using a single app, account, and universal wallet.

“We are thrilled to introduce the new Bally Bet Sportsbook & Casino app, marking a significant milestone for Bally’s. This integrated platform merges the features of our previous apps, providing players in Ontario with a seamless experience for both sports and casino betting. Our commitment to enhancing the player experience remains at the forefront as we strive to personalize the enjoyment of playing Bally Bet,” said Robeson Reeves, CEO of Bally’s Corporation.

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Latest News

PENN Entertainment Launches New Hollywood Casino App in Pennsylvania

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PENN Entertainment Inc. has launched its stand-alone Hollywood Casino app in Pennsylvania. Built on PENN’s proprietary technology platform, Hollywood Casino offers more than 700 iCasino games, a variety of daily promotions, and exciting jackpots.

Available on Android, iOS and desktop, customers in the Keystone State can access Hollywood Casino through either the ESPN BET app or through the new Hollywood Casino app using their same ESPN BET login credentials, allowing for a seamless experience across PENN’s online betting and casino platforms. PENN plans to launch Hollywood Casino in additional jurisdictions in 2025, subject to regulatory approvals.

Hollywood Casino features a variety of online slots, table games and live dealer content, including bespoke live dealer tables and a dedicated “Casino Floor” lobby that allows users to easily find virtual versions of their favorite slot games from PENN’s retail properties. Hollywood Casino also features original titles from PENN Game Studios, PENN’s in-house casino game development studio that has produced a number of popular online games, including Legendary LarryTM and Wuji MinesTM.

“We’re excited to launch Hollywood Casino as a stand-alone app in Pennsylvania, giving our customers access to their favorite games in a dedicated, casino-first experience. With four Hollywood Casino properties in the state, the app leverages our trusted retail brand and creates a seamless connection between our online and retail gaming experiences. We look forward to bringing this enhanced Hollywood Casino experience to more iCasino markets in early 2025, pending regulatory approvals,” said Aaron LaBerge, Chief Technology Officer at PENN Entertainment.

Hollywood Casino is also fully integrated with PENN Play, the Company’s omnichannel loyalty program that allows members to earn and redeem rewards, including PENN Cash, exclusive tier benefits and personalized services.

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