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The horse betting market was valued at $44.3 billion in 2022, and is estimated to reach $91.2 billion by 2032, growing at a CAGR of 7.6% from 2023 to 2032.
On the basis of application, the racecourse segment accounted for about one-third of the horse betting market share in 2022. However, the online segment is to gain traction during the forecast period.” - Allied Market Research
WILMINGTON, DELAWARE , UNITED STATES, September 2, 2024 /EINPresswire / -- The horse betting market has seen rapid growth owing to the increase in media coverage and live broadcasts. This extended coverage encompasses television, live streaming platforms, and specialized online content tailored specifically for horse betting . Consequently, a broader audience is being captivated, which results in increased market participation on a global scale.
The horse betting market was valued at $44.3 billion in 2022, and is estimated to reach $91.2 billion by 2032, growing at a CAGR of 7.6% from 2023 to 2032.
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The horse betting industry has experienced a remarkable surge in opportunities, propelled by the increase in popularity of online betting platforms and mobile apps such as Bet365, William Hill, Paddy Power, Betfair, TwinSpires, TVG, and others. These platforms have revolutionized the horse betting landscape, as they offer enhanced convenience, accessibility, and exceptional user experiences. Moreover, with their user-friendly interfaces and intuitive designs, both seasoned bettors and newcomers may effortlessly navigate these platforms and place bets with confidence, which has completely changed the Horse Betting Market Trends.
Key findings of the study
On the basis of betting type, the single betting segment led in terms of the market share in 2022. However, multiple betting segment is anticipated to be the fastest-growing segment during the forecast period.
On the basis of application, the racecourse segment accounted for about one-third of the market share in 2022. However, the online segment is expected to gain traction during the forecast period.
On the basis of betting volume, the low volume segment accounted for more than half of the market share in 2022. However, the high volume segment is expected to be the fastest growing segment during the forecast period.
On the basis of region, the Europe region dominated the global market in terms of the market share in 2022. However, the Asia-Pacific region is expected to be the fastest growing segment during the forecast period.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the horse betting market analysis from 2022 to 2032 to identify the prevailing horse betting market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the horse betting market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global horse betting market trends, key players, market segments, application areas, and market growth strategies.
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The key players operating in the horse betting market include
Churchill Downs Inc.
MGM Resorts International
Boyd Gaming
Flutter Entertainment PLC
Entain
Kindred Group plc
OPAP S.A.
Tabcorp Holding Limited
New York Racing Association (NYRA)
Del Mar Thoroughbred Club
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David Correa
Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.