Data Bridge Market Research has analyzed the sports betting market value to US$76.75 billion in 2021, which is expected to hit US$167.66 billion in 2029, with an average annual growth rate (CAGR) of 10.26% over the 2022-2029 projection period. Data Bridge Market Research reports on the sports betting markets offer analyses and insights regarding various factors expected to prevail throughout the forecast period, providing its impact on market growth. In addition to the market insights like market value, growth rate, market segments, geographic reach, market players, and market scenarios, the sports betting market research report includes expert deep dives, import/export analysis, pricing analysis, and manufacturing consumption analysis, and consumer behaviour. The latest Research Study published by Data Bridge Market ResearchSports Betting Market, featuring over 100 pages of business strategy analysis undertaken by the leading industry players and emerging players, Data Bridge Market Research provides an understanding of current market developments, landscape, technologies, drivers, opportunities, market outlook, and state. The report provides insights into the market trends and developments, technology, and changing investment structures in the Sports Betting market.
The Global Sports Betting market was expected to grow from US$89.65 Billion in 2021 to US$99.20 Billion in 2022, with a 10.64 per cent CAGR. Due to an increasing demographics toward sports betting, it is expected that it will contribute to driving market growth rates. Stringent regulations regarding sports betting are expected to hamper the market growth. A massive increase in Sports Betting is expected, primarily due to the worldwide proliferation of the Internet and professional sports bookers’ investments into digital platforms to cater for online Sports Betting needs.
The creation of new professional sports leagues worldwide allows customers to diversify their wagering expenses. Sports and mobile bets allow sports betting apps into the market. Mobile betting apps let you explore betting markets, types of wagers, sports to wager, and more, all while protecting your privacy. The global sports betting market is made up of sales of sports betting services by entities (organizations, individuals, and partnerships), referring to online and offline sports betting platforms used for generating profits by forecasting the outcomes of a sporting event.
A considerable percentage of clients engage in leisure activities such as sports betting in order to supplement their income. Furthermore, interactive games are gaining popularity among the younger population. Although a significant portion of the population is interested in hobbies, amusement, and competitive matches for revenue, these activities draw a big audience, acting as a market driver and further boosting market growth potential.
