Global Sports Betting Market to reach USD XX billion by 2027.Global Sports Betting Market is valued approximately USD XX billion in 2020 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2021-2027. Sports betting is a form of gambling that entails predicting the outcomes of any sporting event and placing bets accordingly. Horse racing, football, poker, and a variety of other activities fall under this category. Individuals and bettors in the sport may both benefit from this segment's development potential. The demand for sports betting is being fueled by factors such as the penetration of connected devices, the shifting legal environment of the broader gambling sector, and the increasing digital infrastructure. Furthermore, as the number of sports leagues and events grows, so does the demand for sports betting among millennials and older people all around the world. Due of the full prohibition on sporting activities in most regions of the world, the COVID-19 epidemic had a significant impact on the sports sector, particularly land-based sports. However, due to eSports betting, the popularity of online sports betting increased significantly throughout the epidemic. For instance, according to LOOT.BET, one of the largest Esports bookies, online betting volumes increased by over 67 percent in 2020. Government rules governing the entire gaming sector are projected to stifle market expansion in many regions and countries. In the forecasting years, however, the use of AI and blockchain technology is expected to drive market growth. For instance, the Gambling Commission, introduced the Gambling Act 2005 to legalize commercial gambling in the United Kingdom. Furthermore, in December 2020, the same act was reviewed, and the government required platform providers to comply with technical developments.


The main regions of Asia Pacific, North America, Europe, Latin America, and the Rest of the World are included in the geographical analysis of the worldwide Sports Betting market. In 2020, Europe had the highest revenue share, and this is anticipated to continue throughout the projection period. The rise of the regional industry is linked to the adoption of safety rules and regulations for both offline and online betting in most of the region's countries. Furthermore, prominent sports such as horse racing and football, as well as popular football teams such as Liverpool, Manchester United, and Chelsea F.C., are well-known in countries such as Germany and the United Kingdom. In 2020, Asia Pacific had the second-largest revenue share, and it is expected to grow at the fastest CAGR during the projection period. The market in this region is being driven by factors such as the rising number of individuals wagering on sports such as cricket, hockey, football, and basketball. Furthermore, the legalization of sports betting in countries including India and Australia, as well as factors such as increased internet penetration and middle-class family income levels, are driving market expansion in the Asia Pacific region.

Major market player included in this report are:
888 Holdings Plc
Bet365
Betsson AB
Churchill Downs Incorporated
Entain plc
Flutter Entertainment Plc
IGT
Kindred Group Plc
Sportech Plc
William Hill Plc
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Platform:
Offline
Online
By Type:
Fixed Odds Wagering
Exchange Betting
Live/In Play Betting
Pari-mutuel
eSports Betting
Others
By Sports:
Football
Basketball
Baseball
Horse Racing
Cricket
Hockey
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Sports Betting Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors