NEW YORK, July 8, 2022 /PRNewswire/ — The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period. The value chain of the Sports Betting Market includes – Inputs, Operations, Services, Marketing and sales, Support activities, and Innovation. Moreover, the Sports Betting Market Share is expected to increase by USD 106.25 billion from 2020 to 2025, according to a recent market study by Technavio. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenarios, future market trends, market size & estimations, and major investment pockets.
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Vendor Insights-
The sports betting market report offers information on several market vendors, including 888 Holdings Plc, Bet365 Group Ltd., Churchill Downs Inc., Flutter Entertainment Plc, GVC Holdings Plc, Kindred Group Plc, Sportech Plc, The Stars Group Inc., Webis Holdings Plc, and William Hill Plc among others. Moreover, the market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
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Regional Market Outlook
The sports betting market is segmented by Geography (APAC, Europe, North America, South America, and MEA) and Platform (offline and online). 39% of the market’s growth will originate from APAC during the forecast period. China and Australia are the key markets for sports betting in APAC. Market growth in this region will be faster than the growth of the market in the North American, MEA, and South American regions. The increase in demand for online games and fantasy sports platforms will facilitate the sports betting market growth in APAC over the forecast period.
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Latest Drivers & Trends of the Market-
With the recent global digital revolution, cloud platforms are being preferred for storing data, and there has been a burgeoning increase in online transactions and payments among commercial as well as retail users. Also, there has been a significant increase in the consumption of digital content in the last five years, with the growing Internet speed. With extensive digitalization, the sports betting landscape has fundamentally changed, and the global sports betting market has shifted toward online or virtual applications and platforms. Modern consumers can easily engage in sports betting and conveniently connect with sportsbooks due to the easy access to the Internet and the availability of various mobile apps and online platforms. The rapid growth of digital platforms and the increasing Internet penetration have given consumers easy access to online sports betting platforms, which will drive the growth of the global sports betting market during the forecast period.
One of the key trends in the global sports betting market is the increasing impact of technologies such as blockchain, virtual reality, and AI, specifically machine learning tools. The global sports betting market is expected to grow during the forecast period as a direct result of improving consumer demand, driven by technological advances. Major vendors in the market are increasingly focusing a significant part of their investments on machine learning tools and methods, which have shown promising results in prediction. Machine learning helps build predictive algorithms and accurate predictive models for better betting efficiency. As the global sports betting market evolves, it is necessary for consumers to find useful strategies and accurate predictions to increase their efficiency. Sports bettors are expected to increasingly become familiar with new machine learning algorithms that attempt to predict the outcomes of games and races. Thus, the emergence of machine learning will be a positive trend for the global sports betting market during the forecast period.
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Horse and Sports Betting Market by Platform and Geography – Forecast and Analysis 2020-2024: The horse and sports betting market size have the potential to grow by USD 139.52 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth. Factors such as the increasing digital connectivity, the rapid growth in the commercialization of horse racing and sports events, and the rising disposable incomes will offer immense growth opportunities. Find More Research Insights Here
Sports Analytics Market by Sport, Type of Sport, Type of Analysis, and Geography – Forecast and Analysis 2022-2026: The sports analytics market share is expected to increase by USD 2.93 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 20.65%. 38% of the market’s growth will originate from North America during the forecast period. The US is the key market for sports analytics in North America. Market growth in this region will be faster than the growth of the market in South America, Europe, and MEA. Find More Research Insights Here
| Sports Betting Market Scope | |
| Report Coverage | Details |
| Page number | 120 |
| Base year | 2020 |
| Forecast period | 2021-2025 |
| Growth momentum & CAGR | Decelerate at a CAGR of 10% |
| Market growth 2021-2025 | $ 106.25 billion |
| Market structure | Fragmented |
| YoY growth (%) | 21.54 |
| Regional analysis | APAC, Europe, North America, and South America |
| Performing market contribution | APAC at 39% |
| Key consumer countries | China, UK, Singapore, Australia, and France |
| Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
| Companies profiled | 888 Holdings Plc, bet365, Churchill Downs Inc., Flutter Entertainment Plc, GVC Holdings Plc, Kindred Group Plc, Sportech Plc, The Stars Group Inc., Webis Holdings Plc, and William Hill Plc |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
| Customization preview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Platform
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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SOURCE Technavio
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