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Sports Betting Market Surpass US$ 13,941 Mn by 2028 | CAGR 10.2% Report by Acumen Research and Consulting
The Global Sports Betting Market accounted for US$6,529 Mn in 2020 and is expected to reach US$ 13,941 by 2028 with a considerable CAGR of 10% during the forecast period of 2021 to 2028.
New sports betting trends emerge as a result of people’s rising affinity for betting, ongoing updates, and technical breakthroughs. The sports betting industry is constantly upgrading, which is empowering this sector and making it comparatively more high-tech ultimately leading to success and expansion in the upcoming years. Whether it’s the integration of cutting-edge technologies or increasing the number of consumers, there are a slew of reasons why this business is capturing the attention of the entire world and enticing investors from all over the world.
Global Sports Betting Market Dynamics
The global sports betting market is primarily driven by the growing population betting in this market. This is due to the easy earning of money, the rising number of sports betting apps that provide easy betting guidelines and a rising inclination of youth across the world in the betting industry. After the COVID-19 pandemic (2020), the sports betting industry is coming on track with all the postponed or canceled events restarting in 2021. Thus, a huge rise in the market was witnessed in the year. Besides, large-scale advertising on sport betting apps has also driven a huge amount of crowds to start betting in the industry.
An increase in the number of sports and events across the world coupled with surging digital infrastructure has created a surplus amount of opportunities in the global sports betting market. However, growing concerns over illegal betting and strict regulations for betting are some of the factors that are likely to curb the growth of the market. According to the Illegal Gambling Statistics, illegal gambling activities have been estimated to be around $1.7 trillion each year. Conversely, the advent of 5G technology is expected to create numerous growth opportunities for the market in the coming years. Furthermore, the application of artificial intelligence and blockchain technology has enabled a lot of transparency in the betting process, which eventually supports the substantial growth of the sports betting market.
Growing number of online betting apps surges the demand for online platform
The platform segment is sub-segmented into online and offline. Based on the platform segment, the online segment accumulated for the maximum share in 2020. The rising penetration of smartphones has enabled a majority percentage of crowds to bet at home or anywhere they are which has been a strong growth opportunity for the online platform segment. On the other hand, online sports betting occur mostly during the events such as European Championship, FIFA World Cup, IPL, American Football Leagues, etc.
High percentage of profits earned by fixed odd wagering commands the betting type segment
Live/in-play betting, fixed odds wagering, exchange betting, pari-mutuel, esports betting, and others are the categorization of type segment. Among them, the fixed odd wagering segment dominated the market with a high percentage of shares in 2020. This is credited to the ease of this betting type among people that bet on sports, such as football, hockey, baseball, basketball, and horse racing and internationally.
Huge betting revenue generated from football events propels the segmental growth
Based on sports type, the market is classified into football, basketball, baseball, cricket, hockey, horse racing, and others. Football, among all the sports, conquered the largest market share and is likely to register the fastest growth throughout the forecast period 2021 – 2028. The high popularity of these sport worldwide, chances of winning a large sum of money, and extensive opportunities offered by the European region in football betting are the major aspects driving the growth of the market.
Sports Betting Regional Stance
The global classification of the sports betting market includes Europe, Asia-Pacific, North America, Latin America, and the Middle East & Africa. Among all the regions, Europe subjugated a lion’s share in the regional scenario. Factors such as the high trend on football betting in countries such as Germany, the UK, Italy, Spain, etc, and the popularity of Euro football leagues in the region propels the market dominance of the EU region. Furthermore, the APAC sports betting market is anticipated to witness the fastest growth during the forecast period. This is attributed to the growing inclination of the APAC population towards sports betting, yearly events in India such as IPL, and growing urbanization in the emerging markets.
Major Players
The sports betting market is consolidated with a large number of players. The prominent players presented in the report include 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.
For instance, on September 08, 2021 – 888 Holdings plc has partnered with Genius Sports Limited to provide SI Sportsbook with market-leading official data and trading features. Genius Sports is expected to supply pre-game and in-game content across top tier U.S. sports properties such as the NBA, NASCAR, NFL, and NCAA as a result of the relationship.
Moreover, on October 18, 2021- Bet365 launched cross-vertical shared wallet functionality. Customers may now access their funds in a single balance rather than having to set up separate wallets for each vertical.
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betting solutions
GoldenRace’s Spin2Win returns stronger
Reading Time: 2 minutes
GoldenRace, the leading provider of award-winning Virtual Sports and betting solutions, has unveiled the latest version of its emblematic number game, Spin2Win&Spin2Win Royale. Recognised for its simplicity, fast gameplay and high rewards, the title has become a cornerstone of the company’s portfolio and a proven engagement tool for operators worldwide.
Number games continue to be one of the most reliable verticals in the global betting market. Figures from H2 Gambling Capital confirm that casino-style products represented 21.5 and 8.5 billion in GGR for online and land-based markets, respectively, in 2024. Their clear rules, short cycles and frequent payouts make them a favourite among players and a steady source of revenue for operators.
At GoldenRace, we constantly push to improve our products, making them more engaging and accessible with every release. And this philosophy runs across our entire portfolio. Big5, a groundbreaking take on Virtual Football and RaceDay, which unites all race types in a single product, are just two recent examples. This version of Spin2Win continues this path.
Among the improvements are a fully optimised user interface and a renewed, visually striking wheel that boosts the excitement of every spin and clearer statistics. The game also incorporates an Autoplay option in instant mode and a Multiplier feature in scheduled mode – tools designed to enhance decision-making, increase engagement and extend player sessions online.
Spin2Win also maintains its variety with four distinct versions: Classic, Royale, American and American Royale. Royale formats introduce an additional sectors wheel that expands betting options, while the American variants highlight the double green with fully transparent odds. Operators benefit from flexible configuration, multiple odds formats and automated validations that ensure seamless and fair gameplay.
With this relaunch, GoldenRace confirms its leadership in the number games vertical and invites operators and players to discover a new era of spinning.
The post GoldenRace’s Spin2Win returns stronger appeared first on European Gaming Industry News.
B2B gaming software
Expanse Studios Secures Romanian Class 2 B2B Gaming License
Reading Time: 2 minutes
Expanse Studios, a B2B iGaming content provider and subsidiary of Golden Matrix Group Inc. (NASDAQ: GMGI), has been granted a Class 2 license by Romania’s National Gambling Office (ONJN), authorizing the company to distribute specialized gaming software across one of Europe’s fastest-growing regulated markets.
The license, granted under Decision No. 273, enables Expanse Studios to provide its portfolio of proprietary slot games, crash games, and casino content to licensed Romanian operators. This approval positions the company to serve a market that generated approximately €600 million in gross gaming revenue in 2024 and maintains one of Europe’s highest channelization rates at over 90%.
Strategic Entry into High-Growth Regulated Market
Romania represents one of Eastern Europe’s most dynamic iGaming jurisdictions, with internet penetration reaching 88% of its 19 million population and a regulatory framework that has attracted over 50 licensed operators. The market has demonstrated consistent growth, with total industry turnover exceeding €2 billion in 2023, reflecting a 15% year-over-year increase.
The Class 2 B2B license allows Expanse Studios to distribute content to Romania’s licensed B2C operators without establishing a Romanian entity or paying Romanian corporate taxes, while providing access to a market where mobile gaming dominates and player engagement continues to accelerate.
Romania’s stringent licensing requirements under Government Emergency Ordinance 77/2009 make ONJN approval a significant credential for B2B providers. The regulatory framework emphasizes technical compliance, player protection, and operational transparency—requirements that align with Expanse Studios’ existing European operations across 1,300+ casino brands.
“Securing ONJN approval validates our technical capabilities and regulatory compliance standards in one of Europe’s most demanding jurisdictions,” said Damjan Stamenkovic, CEO of Expanse Studios. “Romania offers substantial distribution opportunities through licensed operators serving a tech-savvy player base with strong engagement metrics. This license strengthens our European B2B footprint and demonstrates our ability to meet the compliance requirements of mature regulated markets.”
Expanding B2B Distribution Infrastructure
The Romanian license complements Expanse Studios’ recent European partnerships, reflecting accelerating demand for the company’s content across regulated jurisdictions. With 56 proprietary titles including Super Heli, Titan Roulette, and Wild Icy Fruits, Expanse continues scaling its high-margin B2B operations across Europe, Latin America, and North America.
Romania’s market characteristics—including preference for mobile platforms, strong affinity for slot content, and established payment infrastructure—align well with Expanse Studios’ content portfolio and distribution model. The company’s games will be available to Romanian operators seeking certified, compliant content for their licensed platforms.
This license approval reinforces Golden Matrix Group’s broader strategy of expanding regulated B2B operations in jurisdictions with transparent licensing frameworks and sustainable growth trajectories.
The post Expanse Studios Secures Romanian Class 2 B2B Gaming License appeared first on European Gaming Industry News.
eSports
League of Legends Fans Flock to Munich for a Thrilling Edition of Red Bull League of Its Own 2025
Reading Time: 3 minutes
- Red Bull League of its Own 2025 saw Europe’s finest and global icons collide in a showcase of skill, creativity, and pure entertainment, marking another standout chapter for the one-of-a-kind tournament series
- Featuring some of the wildest matches ever played, highlights include G2 securing a huge 45-16 kills against T1 and Los Ratones facing off and beating T1 for the second year in a row
- MSI returned with its MSI Gaming Arena, joined by Sony INZONE as official headset partner and Herman Miller Gaming as official gaming chair partner
A new chapter in European esports history was written this weekend as Red Bull League of Its Own 2025 lit up Munich’s iconic SAP Garden, welcoming over 11,500 live attendees and countless online viewers for a full day of spectacle, strategy, and pure passion. The lineup read like a who’s who of League of Legends greatness – with reigning world champions T1 facing off against Europe’s most celebrated squads, including G2 Esports, Karmine Corp, NNO Old, and Los Ratones. Each team brought their signature flair, creative strategies, and unforgettable personalities, setting the tone for a day filled with unforgettable clashes.
Returning for its third edition, the one-of-a-kind event brought together these global legends and European fan favourites for a show built on daring play. For the first time, the stage was set in Munich’s state-of-the-art SAP Garden, transforming the city’s Olympic Park into a high-energy esports arena that buzzed with anticipation from the opening match to the closing moments. Fans were treated to a thrilling slate of best-of-one showdowns throughout the day, that kept the pace sharp and the competition unpredictable.
G2 Esports and NNO Old opened the event, with G2 coming out on top as attendees witnessed the team setting the tone for the day-long tournament with a huge KDA spike right off the bat. Match 2 saw Karmine Corp emerging victorious after a rigorous battle with Los Ratones, establishing themselves as one of Europe’s strongest. However, G2 pulled no stops showcasing why they are the leading European team in match 3, dominating the match against Karmine Corp and earning them the European title match.
Next came the clash of the titans which saw T1 facing off back-to-back against Europe’s best. G2 Esports vs T1 saw Steven “Hans Sama” Liv dropping 18 kills, resulting in G2 Esports slamming T1 with 45-16 kills in an unprecedented and shocking twist. T1 managed to scrape back after their previous loss, with Faker landing his signature outplays and bringing the team to victory against NNO Old. Then finally the showdown everyone was waiting for: the rematch between Los Ratones and T1. The battle was relentless and the most dominating, lightning-paced showmatches of the day, with 81 kills seen in 28 minutes. T1 countered with their signature flair but Los Ratones proved their might once more, driving T1’s base and closing the show in an absolute tailspin. Each match pushed competitors to their limits, celebrating the creativity and spontaneity that make Red Bull League of Its Own, unlike any other tournament in the scene.
Dynamic host Sjokz led the charge, guiding fans through every twist and turn of the event with trademark charisma and energy. The atmosphere inside SAP Garden was electric – a seamless blend of top-tier esports production, immersive visuals, and a fan community united in their love for the game. Whether watching from the front row or on stream, viewers experienced the full force of Red Bull’s commitment to pushing competitive gaming beyond the ordinary.
By the end of the day, Red Bull League of Its Own 2025 had once again proven why it stands as one of the most unique and beloved events in the League of Legends calendar. With moments that had fans holding their breath, the event captured the true spirit of modern esports – bold, unpredictable, and endlessly entertaining. From cheering for their favorite pros to discovering new matchups and witnessing once-in-a-lifetime plays, fans left Munich with memories to last long after the lights went down, with anticipation already building for what the next edition of Red Bull League of Its Own will bring.
The post League of Legends Fans Flock to Munich for a Thrilling Edition of Red Bull League of Its Own 2025 appeared first on European Gaming Industry News.
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