pune, india, September 22, 2022 /PRNewswire/ — new report “Global sports betting market sizeStatistics, Trend Analysis, and Forecast Reports, 2022-2032estimates the size of the global sports betting market as follows: we $84.6 billion Expected to reach US in 2022 (year-end adjustment data) $288.2 billion By 2032.The fastest growing regions include North America and Asia Pacific When Asia Pacific Accumulate about 30% of total income. The global sports betting market is set to grow rapidly, facilitating companies such as NoLimit City and Nuvei Corporation.
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“The global digital revolution has boosted the sports betting market as commercial and retail online transactions surged due to the growth of digital infrastructure. We have completely revised our huge database of.. Our latest insights and forecasts reveal new areas of profitability. Asia Pacific (30% holding) shows the fastest growth during the forecast period 2022-2032. Football accounts for over 23% of the global sports betting market and is expected to continue to grow. ”
– Chandradeep Singh
Download the 2022 version of the sample: https://www.marketdecipher.com/report/sports-betting-market
Massive revenue crisis during COVID and need for new revenue streams to drive market growth
The lockdown imposed as a result of Covid-19 has severely impacted economic activity. It has hit not only the GDP of several countries, but also their income streams. Countries around the world are discovering sports betting as a new revenue stream, increasing sponsorships and data sales, driving trends in the sports betting market. In addition to this, the sports betting market also helps support indirect revenues for governments due to the surge in sports fan engagement, merchandising, partnerships and media rights deals. Revenue will be used to offset the decline in revenue from other revenue streams impacted by the COVID-19 pandemic. Broadcasters utilize over-the-top tools to create new digital products that help give viewers a second screen experience while watching live sporting action. This opens up new growth opportunities for the sports betting market.
Sports betting companies are keen to form strategic alliances with various traditional sports institutions through sponsorships, and revenues in the sports betting market are expected to grow. In addition, increasing esports activities are also contributing significantly to the revenue growth of the industry.
Bringing AI to Sports Betting Applications
The adoption of blockchain and AI in sports betting applications and websites is gaining popularity in the sports betting market. These methods are employed to accurately automate real-time data and assist in sports betting payouts, historical event analysis, monitoring, and event recording.
Asia Pacific has the largest market share with 30%
Asia Pacific is popular in sports betting, which accounts for around 30% of the global market. China and India are two major countries with betting characteristics that are popular with younger populations. Given the scope, new entrants are entering the APAC market. A key aspect of the region is that growth trends are not expected to decline within his decade, even with economic uncertainty. Her 24 states in the US have passed legislation. November 2020 He reformed sports betting laws and brought significant growth to the North American sports betting market. Canada It has also legalized single-game sports betting in 2021. Canada It will expand to almost seven times the size of the domestic spectator sports market in the next few years.
Recent developments by companies:
- July 2022Playtech has signed a deal to provide 888casino with live casino and random number generator (RNG) games. new jerseyfollowed by other states.
- July 2022online sportsbook bet365, is working on a new sports and betting news website to launch in the coming months, announcing it will be a platform where customers can read about the latest developments in the world of sports. Did.
- July 2022award-winning software supplier Nolimit City, has signed a deal with industry giant bet365.
- May 2022Nuvi Corporation has announced that it has partnered with Sweden-based online gaming operator Betsson Group to enable instant deposits and withdrawals on its own online sportsbook. Coloradowas launched in the United States under the brand name Betsafe.
- In 2021, US-based entertainment and sports company Endeavor Group Holdings Inc. acquired OpenBet from Scientific Games. $1.2 billion cash combination (billion dollars) and Endeavor’s Class A common stock ($200 million).
- bit game, PolandA sports betting platform operator based in Blockchain has launched a new website on its sports betting platform powered by blockchain technology to provide a seamless and interactive experience to its customers.
Customized reports are available upon request: https://www.marketdecipher.com/report/sports-betting-market
Report details:
Number of pages: 182
Number of tables: 56
Number of charts and graphs: 60
Target major companies
- 888 Holdings
- Bet365
- Besson AB
- Churchill Downs Racecourse
- Entempy Elsie
- Flutter Entertainment Plc
- IGTMore
- Kindred Group Plc
- Sportec
- William Hill Company
Key takeaways from the report:
- Revenue Estimate/Forecast/Forecast (2022 – 2032)
- Data breakdown for each industry segment (2022 – 2032)
- Corporate Gross Profit and Profitability Analysis
- Impact of COVID-19 on sports betting
- Business trend and expansion analysis
- Competitive Analysis/Market Share
- Product innovation list
- Client list and case studies
- Market entry strategy
Get this research report. https://www.marketdecipher.com/report/sports-betting-market
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SOURCE Market Decipher
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