Canada

Online Sports Betting Market is Predicted to Hit USD 59,530.7 Million at a CAGR of 13.6% by 2026 – Report by Market Research Future (MRFR)

Published

3 years ago

June 22, 2021

According to a comprehensive research report by Market Research Future (MRFR), “Online Sports Betting Market – Information by Sports, Type and Application – Forecast till 2026″ the market size is expected to grow from USD 24,988.4 million in 2019 to USD 59,530.7 million by 2026, at a compound annual growth rate of 13.6%

Market Scope:
The global online sports betting industry is projected to expand at a healthy rate during the forecast period. Factors such as increasing sports demand and eSports activity demand are expected to drive the market during the study period. The growing digital innovation has also provided new opportunities for the online sports betting industry. However, government constraints in some countries are likely to stifle global business growth.

Dominant Key Players on Online Sports Betting market covered are:

888 Holdings PLC (UK)
Flutter Entertainment PLC (UK)
Bet365 Group Ltd (UK)
Fortuna Entertainment Group (Netherlands)
Churchill Downs Incorporated (US)
Entain PLC (UK)
DraftKings (US)
Betsson AB (Sweden)
Betfred Ltd (UK)
Webis Holdings PLC (Isle of Man)
Kindred Group PLC (Malta)
Sportech PLC (UK)
BetAmerica (US)
HKJC Football Betting Limited (Hong Kong)
Megapari (Cyprus)

Market USP exclusively encompassed:
Market Drivers
The rising demand for sports is propelling the global online sports betting industry forward. Sport is an important platform for achieving growth goals. Sport can make a major contribution to social integration and economic development in a number of geographical, cultural, and political contexts. Through their effect on social capital, trust, culture, and crime, sports can further foster capital accumulation, encourage market functioning, and strengthen institutions. These specific outcomes are mutually reinforcing. Furthermore, participating in sports helps players live longer and healthier lives, which contributes to lower obesity rates. Diabetes and high blood pressure tend to be less common in healthy people. The global eSports industry is expanding, with an increasing number of people participating as competitors or spectators. It is increasingly becoming one of the world’s most famous spectator sports. Modern sports-only websites, similar to the advent of traditional sports betting websites, now offer ways to bet on events and tournaments, as many will be betting on esports.

Regional Analysis
By region, the global online sports betting market has been segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Europe led the online sports betting industry in 2019 with a volume of USD 12,146.2 million, and it is projected to hit USD 26,323.6 million by 2026 at a CAGR of 12.1%. With a market share of 48.6% in 2019, Europe is the largest contributor to Mobile Online Sports Betting. According to MRFR research, the rising sports spirit and zeal to watch sports in Europe are increasing day by day due to new game formats and gaming modes.

It has become a wide market for players and businesses like gambling and betting to place bets and enjoy themselves. Europe has had a presence of gambling and betting since the 1800s, but it has grown to the next level in recent years; with the adoption of smartphones and the evolution of technology, it is now very convenient to operate and play on the platforms provided by gambling industries.

Segmentation of Market Covered in the research:
The global online sports betting market has been segmented into sports type, type, and application.

Based on sports type, the global online sports betting market has been bifurcated based on the sports type into football, horse riding, cricket, tennis, baseball, volleyball, basketball, hockey, boxing, golf, racing, and others.

Based on application, the global online sports betting market has been divided into mobile-based and web-based applications for online betting. The web-based segment held a larger market share of 64.6% in 2018 and is anticipated to register a CAGR of 8.7% during the review period.

Industry News
In February 2021, Betfred Ltd signed the Rugby League “Double” for 2021, with a one-year contract to become the Challenge Cup’s title sponsor, adding to its long-standing relationship with the Super League. The agreement also includes sponsorship of the Women’s Challenge Cup.

In February 2021, Kindred Group plc announced an alliance with the Quechan Tribe of the Fort Yuma Indian Reservation to gain market access in California and Arizona. The deal, which spans ten years and has an extension clause at the end, allows the Group to offer both online and retail store betting, as well as iGaming. The launch in California and Arizona is contingent on the introduction of local legislation.

In March 2021, Dish Network and DraftKings announced a partnership to offer DraftKings sportsbook and daily fantasy experiences directly to DISH customers nationwide.

In January 2021, Churchill Downs Integrated rebranded its BetAmerica Sportsbook and iGaming platform as ‘TwinSpires.’

In May 2020, Flutter Entertainment PLC successfully purchased the stars group under its banner.

COVID-19 Impact on the Global Online Sports Betting Industry
The outbreak of novel coronavirus has had an effect on many industry verticals, including manufacturing, from raw material production to finished product delivery. On the other hand, in order to monitor the spread of deadly virus, government institutions around the world placed limits on various sporting activities. Owing to an increase in the number of COVID-19 cases worldwide, scheduled events such as the English Premier League, Serie A in Italy, La Liga in Spain, Super Lig in Turkey, and Major League Soccer in the United States were canceled or postponed.

Related Reports
Global Online Gambling Market Research Report: By Game Type (Betting, Casino, Poker, Lottery, Online Bingo, and others), Device Type (Desktop and Mobile), End-user (Gambling Enthusiasts, Social Exuberant and Dabblers) and Region (North America, Europe, Asia-Pacific, Middle East, and Africa and South America) – Forecast till 2027

Global Sports Analytics Market Research Report: By Sport (Football, Cricket, Baseball, Basketball, others), By Type (On-Field, Off-Field), By Component (Solutions, Services), By Deployment Model (On-Premise, Cloud), By Application (Player Analysis, Team Performance Analysis, Video Analysis, Health Assessment, Data Interpretation and Analysis, Others), By Region (North America, Europe, Asia Pacific, Middle East, and Africa, South America) – Forecast till 2027

Global Sports Technology Market Research Report: Information by Sports Type (Baseball, Basketball, Cricket, Ice Hockey, Tennis, Soccer, and Rugby), Technology (Devices (Wearables, Digital Signages, Cameras), Smart Stadium (Stadium & Public Security, Building Automation, Event Management), Statistics & Analytics, Esports (Ticketing & Merchandising, Sponsorship & Advertising, and Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2027

Global Mobile Gambling Market Research Report: By Type (Casino, Betting, Poker, Lottery, Online Bingo, and others), End-User (Gambling Enthusiasts, Social Exuberant and others), Region (North America, Europe, Asia Pacific, and the Middle East & Africa and South America) – Forecast till 2027

About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Canada

Play’n GO announces partnership with Canadian operator Loto-Québec

Published

4 days ago

May 16, 2024

GamingAmericas.com

play’n-go-announces-partnership-with-canadian-operator-loto-quebec

Play’n GO, the world’s leading casino entertainment provider, has today announced a partnership with Canadian operator Loto-Québec, launching the Swedish gaming giant’s games into another Canadian province.

Already active in another Canadian province , this partnership sees Play’n GO’s content available in the province of Québec exclusively with Loto-Québec, a state-owned corporation, where online players now have access to titles such as Tome of Madness.

Magnus Olsson, Chief Commercial Officer, Play’n GO said: “At Play’n GO, we have always been clear in our vision to be active in every regulated market in the world, and this partnership with Loto-Québec is the next step on that journey.

“Our past success in Canada gives us confidence that players in Québec will enjoy the best Play’n GO content, and we look forward to many years of success with Loto-Québec in the province.”

Stéphane Martel, Head of Product and Innovation at Loto-Québec added: “As the sole iGaming operator in Québec, we pride ourselves on offering titles that truly add value to our platform, lotoquebec.com. We are happy to bring Play’n GO games to our players.”

Canada

Court Decision Upholds iGaming Ontario’s Model

Published

5 days ago

May 15, 2024

GamingAmericas.com

court-decision-upholds-igaming-ontario’s-model

iGaming Ontario has welcomed the decision of the Ontario Superior Court, which found that iGaming Ontario’s model is consistent with the Criminal Code and that iGaming Ontario is conducting and managing igaming in the province.

“We have always been confident in our model and are pleased that the court has ruled in our favour, and that Ontarians can continue to play with confidence in our regulated igaming market,” said Martha Otton, Executive Director of iGaming Ontario.

“Ontario’s model meets the requirements and contributes to the public good by protecting players, their data and their funds, while helping to fund priority public services in Ontario, and bringing well-paid, high-tech jobs and economic development to Ontario,” Otton added.

In dismissing the application brought forward by the Mohawk Council of Kahnawà:ke (MCK), the Superior Court found that iGaming Ontario is the “operating mind” behind Ontario’s competitive igaming market in accordance with the conduct and manage requirements of the Criminal Code.

iGaming Ontario will continue to conduct and manage igaming as it has since the launch of the regulated market on April 4, 2022.

Bragg Gaming Group

Bragg Gaming Appoints Renowned iGaming Executive Neill Whyte as Chief Commercial Officer

Published

1 week ago

May 10, 2024

GamingAmericas.com

bragg-gaming-appoints-renowned-igaming-executive-neill-whyte-as-chief-commercial-officer

Bragg Gaming Group, a global iGaming technology and content provider, announced that Neill Whyte has been appointed as Chief Commercial Officer (CCO), effective 1st May 2024, establishing a new global commercial structure at the Company and bolstering its leadership team.

Whyte brings over 18 years of experience in the iGaming sector, most recently in the role of Chief Commercial Officer at Digital Gaming Corporation’s (DGC), B2B iGaming Division. After joining DGC in early 2020, he was responsible for the commercially successful launch and growth of its content distribution business in the US.

Prior to joining DGC, Whyte held multiple positions in the gaming industry including as Head of Business Development at Isle of Man-based iGaming specialist Apricot Investments, as Board Member at Swedish iGaming product and Lottery content distributor Genera Networks, and in various senior roles over eleven years at leading iGaming content supplier Microgaming, including as Head of Product Channels.

In his new role with Bragg, Whyte will be tasked with leading the Company’s global commercial teams to drive growth across all of the Company’s product verticals which include proprietary online casino content from its Atomic Slot Lab, Indigo Magic and Wild Streak Gaming studios, exclusive content from content partners, HUB a leading casino content aggregation platform, Fuze player engagement, as well as its award-winning player account management (PAM) platform and turnkey solutions.

Matevž Mazij, Chief Executive Officer at Bragg, said: “I am very pleased to be announcing today the appointment of Neill Whyte as Chief Commercial Officer at Bragg. His iGaming product and market knowledge, together with his record in driving growth from developing successful and mutually beneficial commercial partnerships are exceptional.

“As we leverage our broad content and product portfolio to grow in existing and new markets, including in the United States, Canada, Latin America and Europe, Neill’s unique combination of knowledge, skills and experience in this sector are a perfect fit for our ambitions at Bragg.”

Neill Whyte, Chief Commercial Officer at Bragg, said: “It’s an honor to join Matevž and the wider teams at Bragg already in place across North America, Europe and in India. I have been impressed with the depth and quality of the content, product and technology offerings at Bragg, and its ability to rapidly adapt, certify and deploy this content and technology in newly regulated markets is a distinct advantage.

“We also have a huge opportunity to grow our footprint with our existing customers in markets in which we are already established. Our content and product roadmaps are second to none, and I’m planning to get on the road in the coming weeks and months to meet the team and our customers and to start building for the next stage of mutual growth. I can’t wait to get going.”