Canada
Sports Betting Market Size Is Likely to Experience a Tremendous Growth of USD 167.66 billion by 2029, registering a CAGR of 10.26 % by Size and Share, Industry Growth, Regional Outlook, Challenges and Analysis
A Qualitative Research Study accomplished by Data Bridge Market research’s database of 350 pages, titled as “Global Sports Betting Market” with 100+ market data Tables, Pie Charts, Graphs & Figures spread through Pages and easy to understand detailed analysis. Sports Betting Market research report works as a best solution to know the trends and opportunities in the Sports Betting Market industry. The report has been framed with the most excellent and superior tools of collecting, recording, estimating and analyzing market data. This report gives broader perspective of the market place with its all-inclusive market insights and analysis. The information, statistics, facts and figures delivered via this report helps companies in Sports Betting Market industry to maximize or minimize the production of goods depending on the conditions of demand. Sports betting markets are similar to traditional financial markets in several aspects. Sports betting markets potentially have much in common with stock markets. Events on which wagers are made could be anything from more traditional activities such as dog or horse to sports like American football and soccer. Bets are normally made through bookmakers which is also known as sports books. These bookmakers operate both as land-based establishments, such as at casinos or betting shops, and online.
Data Bridge Market Research analyses that the Sports Betting Market was valued at USD 76.75 billion in 2021 and is expected to reach USD 167.66 billion by 2029, registering a CAGR of 10.26 % during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behavior.
Market Overview:-
Sports betting markets are similar to traditional financial markets in several aspects. Sports betting markets potentially have much in common with stock markets. Events on which wagers are made could be anything from more traditional activities such as dog or horse to sports like American football and soccer. Bets are normally made through bookmakers which is also known as sportsbooks. These bookmakers operate both as land-based establishments, such as at casinos or betting shops, and online.
Sports betting are the activity which is work for predicting sports results and then placing a wager on the outcome. The occurrence of sports bet upon differs by culture, with the vast mainstream of bets being placed on association such as mixed martial arts, American football, basketball, baseball, hockey, track cycling, auto racing, and boxing at both the personal and amateur levels. Sports betting can also prolong to non-athletic events, like politics election and reality show contests. This is also for non-human contests like greyhound racing, horse racing, and illegal, underground cockfighting.
Opportunities
The large number of customers are engaging in leisure activities such as sports betting and try to seeking extra income with entertainment. Moreover, interactive games are gaining the interest of the young generation. Although a significant number of population is indulging in competitive matches for hobby, entertainment and income which attract large audiences which will act as market drivers and further boost opportunities for the market’s growth rate.
Moreover, surge in purchasing power of middle-income groups, expansion of distribution channels, and rise in awareness regarding the products and smart strategic marketing activities will positively affect the growth of the sports betting market. Also, application of 5G networks, A.I. and block chain technologies extend the beneficial opportunities to the market players.
Some of the major players operating in the sports betting market are:
- william Hill (U.K.)
- Entain (U.K.)
- 888 Holdings (Spain)
- Kindred Group plc (Malta)
- Flutter Entertainment plc (Ireland)
- The Stars Group inc, (Canada)
- Bet365 (U.K.)
- Bet-at-home.com (Germany)
- BetAmerica (U.S.)
- Betfred (U.K.)
- Betsson (Sweden)
- Draft Kings (U.S.)
- Fan duel (U.S.)
- Gala coral group (U.K.)
- Ladbrokes (U.K.)
- Sportech PLC (U.K.)
- TVG (U.S.)
- Twinspires (U.S.)
- Watch and Wager (U.S.)
Research objectives
- To study and forecast the market size of this in global market
- To analyze the global key players, Porte’s Five Forces analysis, value and global market share for top players
- To define, describe and forecast the market by type, end use and region
- To analyze and compare the market status and forecast among global major regions
- To analyze the global key regions market potential and advantage, opportunity and challenge, restraints and risks
- To identify significant trends and factors driving or inhibiting the market growth
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies
Sports Betting Market Dynamics
Drivers
Rising the usage of online betting
There are many areas where peoples involving in online gambling, especially sports betting, this attracts mostly the younger population. It also reaches to that population which does not follow the sports and is available in many countries where sport betting is legal or illegal. The average age group of an online sports bettor is 38 years whereas the average age of a land-based sports bettor is 45 years. Due to increasing population towards sports betting are expected to drive the market growth rate.
Growing digital infrastructure
The growth of digital infrastructure and the prevalence of wireless connectivity are expected to drive the sports betting market growth rate. The rising usage of smartphones has changed the way of performance of consumer’s activities especially in sports betting. There are around 6.3 billion smartphone users globally and this number is increasing every year which is the main reason for enhancing the population in Sports Betting Market.
Shifting consumer habits
There has been a substantial change in the consumer behavior regarding sports betting. The rise in the popularity of social gambling and gambling apps will drive the growth of the sports betting market during forecast period. Now, Vendors are taking advantage of those population which is using Internet to develop innovative social gambling games. The large number of people participating in social gambling which is also growing because of competing with their friends is the major reason for the gamers to adopt social gaming.
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Canada
IAGR announces Toronto as host city for 2025 conference
Hot on the heels of its most attended conference in history, the International Association of Gaming Regulators (IAGR) is excited to announce that its 2025 conference will take place in Toronto, Canada, from October 20 to 23, 2025.
The event will be held in partnership with the Alcohol and Gaming Commission of Ontario (AGCO) at the Westin Harbour Castle, offering stunning waterfront views and a premier, downtown Toronto location.
‘Fresh off the success of our Rome conference, we’re thrilled to continue the momentum with next year’s event in Toronto,’ said Ben Haden, IAGR President.
‘The IAGR 2025 conference promises to be another unparalleled opportunity for our global community to come together, collaborate and shape the future of gaming regulation. We’re looking forward to working with AGCO to bring it all together.’
AGCO CEO and Registrar Dr. Karin Schnarr, added, ‘We’re excited to welcome IAGR and its members to Toronto. This partnership provides a great opportunity to share Ontario’s innovative regulatory practices and foster meaningful discussions that drive positive change in the industry.’
Stay tuned for registration details early next year.
Bombee Global Entertainment Ltd
ESE Entertainment Completes Acquisition of Gaming Production Company, Bombee Americas
ESE Entertainment Inc., a gaming company that provides a range of services to leading video game developers and publishers, has announced that it has acquired Bombee Global Entertainment Ltd. (Bombee Americas), the North American arm of Bombee Event Production AB, (Bombee), a global production company specialized in live production, special effects, broadcast, and event management for the gaming sector.
Bombee has successfully collaborated with ESE to bring its premier event production services and world class customer service to North America and beyond. The North American arm of Bombee, Bombee Americas, will continue to grow and scale in this new organizational structure under ESE, while maintaining its entire team and global support.
Konrad Wasiela, CEO of ESE, said: “Today marks the next stage of ESE—a 2.0 version of our company. With the acquisition of Bombee Americas, we are not only solidifying our presence in North America but also paving the way for growth and innovation in the gaming industry. This is a major step, positioning us to deliver even greater value to our partners and elevate the gaming experience for our clients globally. We’re thrilled about the opportunities ahead and the exceptional talent joining our team.”
Transaction Terms
The Acquisition was completed by way of a share purchase agreement (the SPA) among the Company, Bombee Americas, and the shareholders of Bombee Americas (the Vendors). Pursuant to the SPA, ESE acquired all of the outstanding shares of Bombee Americas in exchange for: (i) $750,000 in cash paid on closing, (ii) $375,000 in cash to be paid six (6) months following closing, subject to customary adjustments based on the working capital of Bombee Americas on closing, (iii) $375,000 in cash to be paid twelve (12) months following closing, and (iv) 30,000,000 common shares of ESE (the Consideration Shares), issued at a deemed issue price of $0.10 per share.
In connection with the Acquisition, the founders of Bombee Americas have signed three-year service agreements and will continue to run the business following the closing, along with the rest of the personnel of Bombee Americas who will remain in place, ensuring a smooth transition of operations. As part of the Acquisition, the Company has acquired the liabilities of Bombee Americas, mainly consisting of customary current obligations incurred in the ordinary course of business for Bombee Americas, which are not expected to have a material impact on the Company’s operations or financial position.
No finder’s fees were paid or payable in conjunction with the Acquisition.
The Acquisition was an arm’s length transaction within the meaning of the policies of the TSX Venture Exchange (the Exchange) and constituted an “Expedited Acquisition” in accordance with Exchange Policy 5.3 – Acquisitions and Dispositions of Non-Cash Assets. The Acquisition remains subject to the final approval of the Exchange.
Canada
Suspected Digital Fraud Coming from Canada Up Nearly 11% Since H1 2023, Reveals New TransUnion Analysis
In the first half (H1) of 2024, Canada saw a significant increase in suspected Digital Fraud attempts, with nearly 5.74% of all attempted digital transactions where the consumer was located in Canada involving suspected Digital Fraud, revealed a new TransUnion® (NYSE: TRU) analysis. This is nearly an 11% year-over-year (YoY) rate increase from H1 2023, and TransUnion also documented an 11% increase in the volume of suspected Digital Fraud from Canada during this period, despite a less than a one percent (0.7%) YoY increase in the volume of transactions.
According to a recent TransUnion survey,1 more than half (54%) of Canadians said they were recently targeted by email, phone call or text message fraud attempts. Phishing was the most common scheme type (45%), followed by smishing (42%) and vishing (39%).
The increasing use of digital transactions, combined with rising suspected Digital Fraud attempts are also impacting businesses as they potentially face revenue losses and increased operational costs due to fraud. According to a TransUnion business survey for the H2 2024 Update to the State of Omnichannel Fraud report, 200 Canadian business leaders said their companies lost approximately 6% of equivalent revenue – representing $78 billion – over the past year due to fraud. The most prominent causes of fraud loss cited by them were:
- Scam/Authorized fraud (31%): Dishonest scheme intended to trick a person into giving up something of value (e.g., account access, money, information)
- Account takeover (19%): Unauthorized individuals taking over someone’s online account (e.g., bank, social media, email) without their permission
- Synthetic identity fraud (18%): Use of a combination of personal information to fabricate a person or entity to commit a dishonest act for financial or personal gain
TransUnion also found that suspected Digital Fraud attempts – where the consumer was transacting in Canada and targeted businesses globally – increased on average by 10.5% YoY in H1 2024 compared to H1 2023 and impacted all industries.
Top Three Industries Globally with Highest Rate of Suspected Digital Fraud Attempts Coming from Canada in H1 2024
- Gambling (online sports betting, poker, etc.) – 9.6%
- Retail – 9.2%
- Government – 7.7%
Top Three Industries Globally with Highest YoY Increase (H1 2024 vs H1 2023) in the Rate of Suspected Digital Fraud Attempts Coming from Canada
- Logistics – 172.9%
- Gambling – 79.3%
- Video gaming – 67.8%
“Protecting customers and their businesses from fraud is essential to enabling safe and tailored consumer experiences. These findings reveal that despite the good-faith efforts that are being undertaken by companies to identify and prevent fraud to date, fraudsters continue to evolve and it’s vital that fraud prevention methods keep up with the changing times,” said Patrick Boudreau, head of identity management and fraud solutions at TransUnion Canada.
“Businesses that aren’t already doing so should ensure that they are taking advantage of fraud prevention technologies such as identity verification, IP intelligence, device reputation and synthetic identity detection as critical components of their fraud prevention programs,” he added.
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