(MENAFN- Comserve)
Shibuya-ku, Tokyo, Japan, Japan, May 16, 2022, 00:52 /Comserve / -- The global online sports betting market is anticipated to expand from USD 24,988.4million in 2019 to USD 59,530.7 million by 2026, at a substantial CAGR of 13.6% during the review period 2022-2031.
With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.
The global online sports betting market is anticipated to expand from USD 24,988.4million in 2019 to USD 59,530.7 million by 2026, at a substantial CAGR of 13.6% during the review period. The rising popularity of sports is expected to fuel market growth. Nevertheless, due to the ongoing COVID-19 Pandemic, cancellations of a National Leagues & Major Sporting Events have impacted on global online sports betting market. The increase in sports activities creates various lucrative opportunities for various other industry sectors such as food, clothing, electronics, and gambling.
The global online sports betting market is expected to register a healthy market growth during the review period owing to the increasing sports demand and growing requirement for esports activities. Additionally, the rising digital advancements have established a growth opportunity for the Online sports betting market. However, the strict government constraints in some countries are expected to hinder the growth of the global market during the review period.
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The Final Report will cover the impact analysis of COVID-19 on this industry: Global Online Sports Betting Market Growth, Forthcoming, Business Prospects and Industry Updates and Forecast 2027 With Impact Of COVID-19 (Trending Report)
The global online Sports betting market has been segmented into sports type, type, application, and region.
In terms of sports type, the global online sports betting market has been classified into the sports type into football, cricket, tennis, baseball, volleyball, basketball, hockey, horse riding, boxing, golf, racing, and others. The football has further been classified into FIFA, Premier League, UEFA/EURO, and others. The football segment is anticipated to record the highest CAGR of 12% during the assessment period. The segment growth is attributed to the safe and secure services by the online football betting sites.
In terms of type segment, the online sports betting market has been divided into line-in-play, fixed old betting, daily fantasy, e-sports, exchange betting, spread betting, and others. Based on application, the Online sports betting market has been divided into mobile-based and web-based applications for online betting. The web-based segment is anticipated to exhibit a CAGR of 8.7% during the forecast period owing to the larger market share of 64.6% in 2018 and.
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Regional Analysis
Geographically, the global online sports betting market has been spread across North America, Europe, Asia-Pacific, and the Middle East and Africa.
Europe held the largest market of the global Mobile Online sports betting market share of 48.6% in 2019. The rising sports spirit and the zeal to watch sports are increasing day by day in Europe owing to trending game formats and the latest gaming modes. The region is a large market for players and industries like gambling and betting to place bets and enjoy.
North America is expected to register the highest CAGR of 15.8% during the forecast period owing to the rising popularity of online sports betting among the young population.
Major Players
The prominent players of the global online sports betting market are 888 Holdings PLC (UK), Bet365 Group Ltd (UK), Churchill Downs Incorporated (US), Flutter Entertainment PLC (UK), Entain PLC (UK), DraftKings (US), Fortuna Entertainment Group (Netherlands), Betsson AB (Sweden), Betfred Ltd (UK), Kindred Group PLC (Malta), Sportech PLC (UK), Webis Holdings PLC (Isle of Man), BetAmerica (US), HKJC Football Betting Limited (Hong Kong), and Megapari (Cyprus).
COVID 19 Impacts
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
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