Overview of the global sports betting market

The sports betting market has the largest market share in the overall gambling market, accounting for around 40% of the gambling revenue generation across the globe. Some of the most popular sports that are being bet on are horse racing, football, cricket, grey hounding, basketball, baseball, and golf. The main reason for the growth of the sports betting market is the gradual easing of government regulations on gambling. The shift in gambling regulations across the world has opened up new opportunities for gamblers to participate in sports betting in any part of the world through an online platform, except in those countries where sports betting is banned. The easing of government regulations in some of the countries with huge grownt potential, such as the US, is expected to positively aid in the growth of the market.

There has been a significant change in consumer behavior in the global sports betting market. The increase in the popularity of gambling apps and social gambling are likely to propel the growth of the market. Vendors are taking advantage of the growing internet-using population and increasing adoption of mobile devices to develop innovative social gambling games. The number of people participating in social gambling is also increasing because of the increased competition with their acquaintances. Several social gamers are increasingly socializing and interacting through games, user-friendly gameplay, and game tournaments, which will further boost the growth of this market in the coming years.

Competitive landscape and key vendors

The global sports betting market is highly competitive because of the presence of many large and small established land-based and online vendors. Competition will become more intense among the vendors to deliver variety of gaming options to the players to gain competitive advantages. To sustain themselves in this intense market landscape, vendors are coming up with new ideas and technologies and keeping themselves up-to-date with the emerging games, licensing procedures and policies, and advancing technologies that could influence service lines.

Segmentation by platform

  • Land-based sports betting
  • Online sports betting
During 2015, the land-based sports betting segment accounted for the highest share in the global sports betting market. However the segment will lose some of its share to the online sports betting due to the popularity of digital betting platforms. The high growth prospects of online sports betting are mainly due to the large number of passionate viewers of games like NFL, NBL, FIFA, and Indian Premier League (IPL). The online sports betting market is quite popular in Europe owing to the large numbers of football matches held in the region each year.

Geographical segmentation

  • Americas
  • APAC
  • EMEA
APAC will continue its dominance in the sports betting market and is likely to occupy around 47% of the overall market revenue. The major reason for this regionfs growth is the easy government regulation and improved spending capability of the populace. The increased penetration of internet has created awareness among people about the latest online entertainment and gambling trends, especially in sports. Macau and Hong Kong are the major revenue generating countries in APAC.
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