Sports Betting Market size was valued at USD 92.5 billion in 2020 and it is expected to reach USD 215.0 billion by 2030 with the CAGR of 8.80% during 2020-2030. Sports betting is simply an activity to predict sports result depending upon the prediction of the result the better is going to have a profit or loss. Some of the factors contributing to the growth of the market are it give more value to the sports, it has a chance of winning huge amount of money in a short period of time, as sports has a high chance of unpredictable betting  it becomes more exciting, and among others.

Market Segmentation:

The global sports betting market is segmented as follows: On the basis of platform the market is classified as online and offline. Based on type the market is categorized as line-in-play, fixed old betting, exchange betting, daily fantasy, spread betting, e-sports, pari-mutuel, and others. By sports type, the market is classified into football, baseball, basketball, hockey, cricket, tennis, golf, boxing, horse riding, auto racing and others. And by geography, the sports betting market is divided into North America, Asia Pacific, Europe, and RoW.

Market Dynamics and Factors:

Ability to bet online is one of the main driving factor for the sports betting market growth. Most people do not bet offline due time restriction, necessity to travel to long distances, and fear of people judging them. So online betting has provide the ability to bet even for people living across the globe. Owing to increase the growth of the market. High risk involvement of money is becoming one of the restraining factor for the growth of the market. Due advancement of technology the betters has the full detail report of who to bet, how much risk are they going to be in, and what should be avoided is becoming an immense opportunity for the growth of the market. Presence of scammers available especially in online betting could becoming a challenge for the sports betting market growth in future.

Geographic Analysis:

Asia Pacific is the major revenue contributor in the global sports betting marketing and is expected to continue in future. Some of the factors contributing to the growth of the market are growth of economic condition in this region, rise of disposable income, increase of sports loving people, and among others. North America is the second dominating region in sports betting and some of the factors resulting to the growth of the market are presence of large number of sports fan, availability of sports which are common only in this region like baseball, American football, basketball, have better betting technology than other region, giving more importance to sports, and among others are responsible for the sports betting market growth in this region.

Competitive Scenario:

Some of the key players operating in sports betting industry are William Hill PLC, Bet365 Group Ltd., The Stars Group Inc., DraftKings ,888 Holdings PLC, GVC Holdings PLC, Kindred Group, Paddy Power Betfair PLC, , Betsson AB, and BetAmerica, among others

Sports Betting Market Report Scope