Sports Betting Market Performance, Share Insights, and Expansion Forecast Report 2024 - 2031 | Entain, DraftKings, Scientific Games.
Sports Betting Market Performance, Share Insights, and Expansion Forecast Report 2024 - 2031 | Entain, DraftKings, Scientific Games.
Blog Article
The latest report titled "Sports Betting Market: Trends, Share, Size, Growth, Opportunities, and Forecast 2024-2031" by Coherent Market Insights delivers a thorough analysis of the industry, encompassing market insights. It also covers competitor and regional analysis, along with recent advancements in the market.
Sports Betting Market was valued at USD 99.87 billion in 2023 and is anticipated to rise from USD 108.73 billion in 2024 to USD 212.82 billion by 2031, at a CAGR of 10.07% over the forecast period.
List of Key Companies in Sports Betting Market : 888 Holdings plc (U.K.), DraftKings, MGM Resorts, Entain, Flutter Entertainment plc, Kindred Group plc, Scientific Games., Sportradar Group AG, Wynn Resorts Holdings., BETSSON AB
Browse Full Report Details @ https://www.kingsresearch.com/sports-betting-market-811
Segmentation:
By Platform: Online platforms dominate the market, accounting for the largest share due to their accessibility and advanced features. However, offline betting continues to have a significant presence, especially in regions with less internet penetration.
By Type: The market includes fixed-odds betting, exchange betting, in-play betting, and others. In-play betting, which allows bettors to place bets during live sports events, is gaining immense popularity due to its dynamic and interactive nature.
Competitive Landscapes:
The sports betting market report will provide valuable insight with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions.
Manufacturers are adopting a range of strategic initiatives, including investments in R&D activities, the establishment of new manufacturing facilities, and supply chain optimization, to strengthen their market standing.
Key Drivers:
Technological Innovations: The incorporation of AI and machine learning algorithms in sports betting platforms has revolutionized the industry. These technologies enable personalized betting experiences, predictive analytics, and real-time data analysis, thereby attracting a tech-savvy audience.
Regulatory Changes: Several countries have recently legalized sports betting, providing a legal framework that encourages market growth. For instance, the United States has seen a significant increase in sports betting activities following the Supreme Court's decision to strike down the Professional and Amateur Sports Protection Act (PASPA) in 2018.
Increasing Sports Engagement: The global rise in sports viewership and participation has directly influenced the betting market. Major sporting events like the FIFA World Cup, the Olympics, and the Super Bowl attract Billions of viewers, many of whom are potential bettors.
Mobile Betting: The proliferation of smartphones and high-speed internet has facilitated the growth of mobile betting. Bettors can place wagers conveniently through mobile apps, which offer live betting options, seamless payment systems, and user-friendly interfaces.
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