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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



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.

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)

Compliance Updates

Pace-O-Matic Wins Landmark Texas Court Case: A Victory for Small Business Owners and Community Organizations




Pace-O-Matic, the industry leader in skill-based games, today announced a significant legal victory in Texas, affirming the legality of its skill-based games. This ruling, issued Tuesday evening by State District Judge Laurine Blake, emphasized that such games are not considered gambling under Texas law. The ruling represents a triumph for small business owners, bar owners, and fraternal organizations who rely on these games to attract customers and support their businesses.

Michael Barley, Chief Public Affairs Officer at Pace-O-Matic, stated, “This ruling is a monumental victory for the small businesses and community organizations that have been able to thrive thanks to skill-based gaming. Our commitment to providing legal, enjoyable, and skill-based gaming options has once again been validated by the courts.”

This legal win underscores Pace-O-Matic’s dedication to fostering a responsible gaming environment while supporting local economies and community groups.

For more information visit Pace-O-Matic

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Compliance Updates

NJDGE Closes its Investigation of Evolution AB with No Further Action




Evolution AB has been informed by the New Jersey Division of Gaming Enforcement (NJDGE) that it has conducted an investigation into allegations of misconduct by Evolution AB and that its investigation has been closed with no further action taken.

In November 2021 the NJDGE received a report prepared by an unidentified firm alleging misconduct by Evolution AB. Following receipt of the report, the NJDGE commenced a thorough investigation into the allegations to determine their validity.

The NJDGE found no evidence that Evolution sanctioned, promoted, permitted, or otherwise materially benefitted from its content offered by operators in any market that the NJDGE considers a prohibited jurisdiction.

Evolution also conducted an internal review, while concluding that its due diligence and compliance processes were sufficient, Evolution took the opportunity to enhance its processes. The NJDGE supports the enhancements that Evolution has made. The enhancements did not relate to any jurisdictional violations.

The NJDGE’s investigation into this matter is closed requiring no further action.

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Gen.G and University of Kentucky Bring Back Award Winning Conference “Campus Takeover” Designed to Drive the Future of Collegiate Esports




Global esports and gaming organization Gen.G and the University of Kentucky (UK) are bringing back their award winning collegiate esports industry conference, Campus Takeover, on March 30 and April 6. This two-day event will bring together esports professionals with students and administrators from different universities. UK continues to pave the way as an esports ecosystem leader in the SEC and Midwest region.

Campus Takeover Day 1 is a student-focused event leading up to the professional conference, and will be live-streamed at on March 30 starting at 4:30 PM EST. Campus Takeover Day 2, the flagship professional conference, will be hosted at the Don & Cathy Jacobs Science Building on the University of Kentucky campus on April 6, starting at 10:00 AM EST.

“Since we started this event, we had a responsibility to uphold what future students expect of the University of Kentucky when it comes to their budding esports careers. There’s a lot expected about the future of gaming and esports, and we want to make sure our students are well equipped to be that expected change for years to come,” Heath Price, Associate Chief Information Officer at University of Kentucky, said.

Additionally, many esports professionals hailing from different segments of esports business will participate in various panels during Campus Takeover. The panels and discussions will cover a bevy of topics, including how to maximize your time when looking for new jobs, a conversation around esports, influencers, business, and video games, a look at intersectionality in games, and much more. Other clubs and programs will also be welcome to have tables within the Atrium during Campus Takeover, so even newer students get to see everything UK has to offer.

“University of Kentucky has been our long term collegiate partner; their investment in this community allows us to have a small hand in making sure the future of gaming and esports is secure. We all want to see this industry thrive, and we hope Campus Takeover is a stepping stone for other schools to form their own ways to develop the collegiate esports ecosystem,” Martin Kim, Chief Revenue Officer at Gen.G, said.

Campus Takeover was recognized at the 2023 Esports & Gaming Business Summit Tempest Awards, where it won the award for the Collegiate Esports Program of the Year.

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