Gambling in the USA
Sports Betting Market is set to reach USD 231.2 billion by 2032, with a notable 11.1% growth rate (CAGR)
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The Global Sports Betting Market size accounted for USD 81.7 Billion in 2022 and is expected to reach USD 231.2 Billion by 2032 with a considerable CAGR of 11.1% during the forecast period of 2023 to 2032.
Sports betting market is reshaping the gambling industry, providing cutting-edge and entertaining wagering experiences. What exactly are sports betting? They are specialized services that involve the outsourcing of specific telecommunications operations and responsibilities to third-party providers. The global market was valued at USD 81.7 Billion in 2022 and is projected to reach USD 231.2 Billion by 2032. Within the larger gambling business, the sports betting market is a dynamic and quickly increasing area. It is based on the activity of forecasting sports events and betting on the outcomes. This market has grown significantly in recent years, owing mostly to the advent of internet and mobile betting platforms, which have made it more accessible to a global audience. Sports betting covers a vast number of sports, including football, basketball, tennis, horse racing, and many more, and includes a wide range of betting choices, such as moneyline bets, point spreads, and proposition bets. The expansion of the market is also driven by regulatory changes in various locations, with some governments legalizing and regulating sports betting in order to increase tax revenue and safeguard consumers.
Key Points and Statistics on the Sports Betting Market:
- The Global Sports Betting Market size is projected to grow to USD 231.2 Billion by 2032, expanding at a CAGR of 11.1% from 2023 to 2032.
- Europe leads the market globally with around USD 29.4 billion revenue of the market in 2022.
- The platform online segment captured the largest market share along with 48.1 billion in 2022.
- By betting type, fixed odds wagering sub-segment held the largest market share of 27% in 2022.
- The advent of 5G networks, AI, and blockchain technologies in sports betting increase the market value.
Sports Betting Market Coverage:
Market | Sports Betting Market | |
Sports Betting Market Size 2022 | USD 81.7 Billion | |
Sports Betting Market Forecast 2032 | USD 231.2 Billion | |
Sports Betting Market CAGR During 2023 – 2032 | 11.1% | |
Analysis Period | 2020 – 2032 | |
Base Year | 2022 | |
Forecast Data | 2023 – 2032 | |
Segments Covered | By Platform, By Betting Type, By Sports Type, By Age Group, And By Geography | |
Sports Betting Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
Key Companies Profiled | 888 Holdings Plc, Bet365, Betsson AB, Churchill Downs Incorporated, Entain plc, Flutter Entertainment Plc, IGT, Kindred Group Plc, Sportech Plc, William Hill Plc, and others. | |
Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Sports Betting Market Overview and Analysis:
Several dynamic aspects characterise the sports betting business. The growing popularity of sporting events, both amateur and professional, adds to market growth by providing more options for bettors. The increased use of internet and mobile betting platforms has resulted in convenience, real-time betting possibilities, and live streaming of sporting events, making it more appealing to a wider audience.Furthermore, shifting regulatory environments have a huge impact. Some regions have legalised sports betting, giving consumer protection and tax money, while others have severe rules or outright forbid sports betting.
Technological improvements, such as the use of artificial intelligence and data analytics, have enhanced the accuracy of odds and allowed bettors to conduct more in-depth research. As a result, in-play betting, in which wagers can be placed during a game or match, has grown in popularity. Furthermore, the growing popularity of e-sports and the expansion of virtual sports betting have added new elements to the market. While the sports betting market offers several opportunities for bettors and operators, it also confronts problems, such as concerns about responsible gambling and possible issues with match-fixing and sports integrity. As the market evolves, maintaining a balance between innovation and regulation will be critical for long-term growth.
Latest Sports Betting Market Trends and Innovations:
Increased in-play and mobile betting, an emphasis on responsible gambling measures, and the use of modern data analytics to produce more accurate odds and predictions are all developments in the sports betting sector. Furthermore, the use of blockchain technology for transparent and secure transactions, as well as the growing popularity of e-sports betting, are important industry advances. These advancements improve the overall sports betting experience while also reaching a larger audience..
Major Growth Drivers of the Sports Betting Market:
The primary growth drivers include the rise in sports events and leagues, expanding global digital connectivity, a surge in sports betting interest among the younger generation, and the uptick in advertising and sponsorships are key drivers of the sports betting market.
Key Challenges Facing the Sports Betting Industry:
Challenges include the enforcement of stringent regulations on betting, increasing apprehension surrounding illicit wagering, and a mounting focus on addiction issues are elevating ethical concerns within the sports betting industry.
Sports Betting Market Segmentation Insights:
Based on Platforms:
- Online
- Offline
Based on Type:
- Fixed Odds Wagering
- Live/In Play Betting
- eSports Betting
- Exchange Betting
- Others
Based on Sport Types:
- Basketball
- Football
- Horse Racing
- Baseball
- Hockey
- Cricket
- Others
Based on Age Group:
- Gen Y/Millennials
- Gen Z
- Baby Boomers
- Gen X
Overview by Region of the Sports Betting Market:
Europe is the largest region in the global sports betting market, with a well-established betting culture and a plethora of markets within individual countries. The sports betting business in the United Kingdom, in particular, is strong and well-regulated. Another big market is North America, led by the United States, with the recent legalization of sports betting in numerous states adding to its rise. Asia-Pacific, which includes countries such as China and India, has significant growth potential. Sports betting is expanding in Africa and Latin America, with evolving regulatory frameworks promising future expansion. These regional dynamics highlight the multifaceted structure of the sports betting business.
List of Key Players in the Sports Betting Market:
The notable companies in the market include William Hill Plc, 888 Holdings Plc, Bet365, Betsson AB, Churchill Downs Incorporated, Entain plc, Flutter Entertainment Plc, IGT, Kindred Group Plc, and Sportech Plc..
Gambling in the USA
Gaming Americas Weekly Roundup – February 10-16
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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.
Latest News
Quick Custom Intelligence (QCI) has launched QCI Heatmap, an advanced contour heatmapping tool that transforms the way casinos interact with slot performance data. This release represents a unique modernisation of classic data visualisation techniques, reimagined using state-of-the-art graphics processing, machine learning and QCI’s proprietary intellectual property. Heatmapping has long been a valuable tool for understanding gaming floor performance, but traditional implementations were often limited by static visualisations, sluggish responsiveness and an inability to scale dynamically. With QCI Heatmap, the company has re-engineered these foundational techniques using modern high-performance rendering technology, GPU acceleration and AI-driven insights, enabling real-time, interactive exploration at a level never seen before.
FanDuel has revealed that during the 2024-25 NFL Season nearly half of its customers, approximately 3.5 million, reviewed their play activity using My Spend, a new personalised responsible gaming dashboard. The growing adoption demonstrates that customers are engaging with RG tools that provide personalized insights that help them to manage their time and spending on the platform. My Spend provides customers with detailed insights on their deposit and betting activity, including amount deposited and net winnings over the last seven days, four weeks or three months. The My Spend dashboard also encourages customers to utilise the existing suite of responsible gaming tools FanDuel offers, including deposit limits and wager limits.
Partnerships
SCCG Management has entered into a strategic partnership with Tecpinion, a premier provider of custom development and ready-to-launch, 100% customisable iGaming platforms with full ownership. Tecpinion delivers state-of-the-art platforms for sweepstakes casinos, social casinos, sports betting, online casinos, fantasy sports, crash games and more, with integrated solutions such as multi-lingual support, payment gateways and referral systems that cater to a global audience. SCCG Management will provide business development support, sponsorship exposure and strategic distribution opportunities, leveraging its extensive global network to position Tecpinion as a go-to provider for gaming operators looking to scale efficiently.
Major League Baseball and Sportradar announced a long-term extension and expansion of their decade-long partnership, set to begin with the 2025 season, aimed at unlocking the full potential of MLB’s data and audiovisual (AV) content while growing America’s pastime worldwide. As part of the agreement, MLB has acquired an equity stake in Sportradar, further solidifying the partnership between the two organizations and supporting future growth opportunities. Under the new terms, Sportradar, in partnership with MLB, will exclusively distribute MLB’s ultra-low latency official data, media content, including MLB Statcast Data, and AV content across its global client network, which spans 800 sportsbook clients and 900 media companies.
SYNOT Games has entered into a new partnership with Novibet in Brazil. This collaboration marks a significant milestone in SYNOT Games’ expansion into the burgeoning Brazilian iGaming market. This deal introduced Novibet’s players in the Brazilian region to an impressive portfolio of 85 premium games, including some of SYNOT’s most popular and highest-grossing titles such as Fruity Gold 243 and 100 Stunning Fruits. The launch comes at an exciting time for the Brazilian online gaming industry, which is experiencing rapid growth thanks to increasing player demand and favourable regulatory developments.
The post Gaming Americas Weekly Roundup – February 10-16 appeared first on European Gaming Industry News.
Gambling in the USA
Gaming Americas Weekly Roundup – February 3-9
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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.
Latest News
Governor Joe Lombardo has announced the appointment of Chandeni Sendall to the Nevada Gaming Control Board. Since 2015, Ms. Sendall has served as a Deputy City Attorney for the City of Reno, practicing in the civil division. Before her work in the Reno City Attorney’s Office, Ms. Sendall worked in civil and commercial litigation, served as an in-house legal intern for Caesars Entertainment, and clerked for the Honorable James W. Hardesty at the Nevada Supreme Court. While attending the William S. Boyd School of Law, Ms. Sendall served as the Editor-in-Chief of the UNLV Gaming Law Journal. Before her legal career, she served for several years as an Internal Auditor for Caesars Entertainment.
TheLotter US has send a reminder to customers to be vigilant against online phishing scams and fraudulent websites. With online lottery courier services growing in popularity, cybercriminals often target unsuspecting individuals with fraudulent emails and messages that falsely claim recipients have won a lottery prize. TheLotter Group’s announcement follows their fraud team’s discovery of phishing attempts, including several fraudulent websites impersonating the courier service’s platform.
The Pennsylvania Gaming Control Board has approved three consent agreements presented by its Office of Enforcement Counsel resulting in total fines of $282,205. The largest of the fines is $260,905 and was assessed against Interactive Gaming Operator BetMGM for 152 instances in which an individual on the Board’s Interactive Self-Exclusion List was permitted to gamble on their sites. Licensed operators of iGaming sites in Pennsylvania must deny individuals on the self-exclusion list from establishing or maintaining an interactive gaming site.
Zitro Digital has announced its entry into the newly regulated Brazilian iGaming market. With deep roots in Brazil, Zitro Digital is to bring its portfolio of in-house content to local players, marking a new chapter in the company’s long-standing connection with the country. Brazilian players can now enjoy a selection of Zitro Digital’s slots, including the popular series Fu Frog, as the company introduces its offerings to operators within the country. The move comes as part of Brazil’s ongoing efforts to create a regulated and secure online gaming environment for players, offering a responsible platform for gaming activities.
Partnerships
Everi Holdings Inc in an agreement with 1/ST, North America’s preeminent Thoroughbred horse racing and pari-mutuel wagering company, announced the launch of their new mobile app and wagering experience, Gulfstream Racing. The new Gulfstream Racing App is now available in the Apple App Store. This launch is part of Everi’s strategic expansion into Sports and Entertainment following its acquisition of Venuetize in 2023 and expands the company’s footprint in the horse racing segment. Gulfstream Racing will be a valuable companion app for guests seeking the premier hospitality experience that 1/ST provides.
Payflo Inc. has entered into a partnership with MoneyGram to deliver cash-in and cash-out payment solutions tailored for U.S. gaming, lottery and marker settlement, marking a first-of-its-kind milestone in the industry. Payflo and MoneyGram introduced a customer-driven solution—enabled by the simple integration of Payflo’s advanced payment processing technology with MoneyGram’s technology-powered, extensive network and trusted financial infrastructure.
The post Gaming Americas Weekly Roundup – February 3-9 appeared first on European Gaming Industry News.
Aaron Gomes
Revo Casino and Social House in Conway Holds Grand Opening
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Revo Casino and Social House in Conway, New Hampshire, has held its grand opening on Tuesday.
The Conway property is the latest addition to Revo’s growing presence in New Hampshire, joining locations in Dover, Lebanon, Manchester, and Keene.
Revo Casino and Social House’s new amenities include:
• Rebels: A bold dining experience with a full bar and great game-day energy. Revo’s signature restaurant serves up flavorful dishes like the Rebel Smash Burger, flatbread pizzas, and prime rib, making it the perfect spot to eat, drink and enjoy the action.
• Rebel Stage: Featuring live music every weekend.
• Revo Studio powered by iHeartMedia: An in-house broadcast center featuring live iHeart broadcasts. The studio also drives the Soundtrack of the Revolution, a curated music selection that sets the energy and vibe of the property.
Gaming Highlights: 75 thrilling casino machines, including Ultimate Fire Link Explosion, Huff N Even More Puff, and Devil’s Lock. Table games, including blackjack, roulette, and poker tables.
Speakers and guests at the event included Revo President Aaron Gomes, Executive Director of Mount Washington Valley Promotions Lisa DuFault, and the Mount Washington Valley Chamber of Commerce.
“It’s exciting to open Revo Casino and Social House and see the community’s enthusiasm for our gaming, entertainment and dining options. Beyond entertainment, Revo Casino and Social House will also support nonprofits across the Mount Washington Valley. We’re proud to be part of this community and contribute to its success,” said Gomes.
“This facility will make such an incredible difference for so many nonprofits in the Mount Washington Valley. The support that Revo Casino and Social House provides allows organizations like ours to better serve our communities and care for those in need. The impact is truly life changing,” said Lisa DuFault, Executive Director of Mount Washington Valley Promotions.
The post Revo Casino and Social House in Conway Holds Grand Opening appeared first on Gaming and Gambling Industry in the Americas.
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