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The Worldwide Sports Betting Systems Industry is Expected to Reach $648.7 Billion in 2027

Published

2 years ago

October 19, 2022

Reading Time: 4 minutes

The “Global Sports Betting Systems Market Size, Trends And Growth Opportunity, By Platform ,By Sports Type ,By Region and Forecast to 2027.” report has been added to ResearchAndMarkets.com’s offering.

The Global Sports Betting Market was valued at US$260.5 billion in 2021 and it is expected to reach at US$648.7 billion in 2027 at a CAGR of 11.26% during forecast period 2022-2027.

A form of gambling known as sports betting involves making predictions about sporting events and placing bets on the results. Sports betting is involved in non-athletic events such reality show contests, political elections, and contests involving animals like horses, dogs, and illegal cockfighting. Football, American football, baseball, hockey, basketball, and auto racing are some of the sports that are most often bet on, both by amateur and professional bettors. Bookmakers are often used to place bets. These are businesses that are both online and physically located, like casinos or betting shops.

Market Drivers

The expansion of wireless connection and digital infrastructure are anticipated to fuel the market’s rate of expansion. The increasing prevalence of smartphones has influenced consumer behaviour, particularly in terms of sports betting. The way that consumers behave when it comes to sports betting has significantly changed. The market for sports betting will expand during the forecast period due to the growing popularity of social gaming and gambling apps.

Market Restraints

Stringent government regulations imposed on sports are the major market restraints that would slow the growth rate of the sports betting market, along with concern about illegal activities in the industry, which are anticipated to provide obstacles to the market throughout the projected period.

Market Segmentation

The global sports betting market segmented into platform and sport type. On the basis of platform it segmented into online and offline. On the basis of sport type it segmented into football, baseball, basketball, hockey, cricket, tennis, golf, boxing, horse riding, auto racing, and others.

Regional Analysis

The global sports betting market segmented into five regions North America, Europe, Latin America, Asia Pacific, Middle East and Africa. In terms of revenue throughout the projected period, Europe will dominate the sports betting market. This is a result of the region’s growing interest in sports betting. Due to the growing number of individuals who wager on sports events like football, cricket, hockey, and basketball in this region, Asia-Pacific is also expected to have the fastest rate of economic growth.

Key Players

Various key players are listed in this report such as 888 Holdings Plc., Bet 365 Group Ltd., GVC Holding plc., The Stars Group, Paddy Power Betfair plc., William Hill plc., Fortuna Entertainment Group, Betfred Ltd., mybet Holding, Hong Kong Jockey Club.

Key Question Addressed by the Report

What are the Key Opportunities in Global Sports Betting Market?
What will be the growth rate from 2022 to 2027?
Which segment/region will have highest growth?
What are the factors that will impact/drive the Market?
What is the role of key players in the value chain?
What is the competitive Landscape in the industry?

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Global Sports Betting Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis

5 Global Sports Betting Market, By Platform
5.1 Y-o-Y Growth Comparison, By Platform
5.2 Global Sports Betting Market Share Analysis, By Platform
5.3 Global Sports Betting Market Size and Forecast, By Platform
5.3.1 Online
5.3.2 Offline

6 Global Sports Betting Market, By Sport Type
6.1 Y-o-Y Growth Comparison, By Sport Type
6.2 Global Sports Betting Market Share Analysis, By Sport Type
6.3 Global Sports Betting Market Share Analysis, By Sport Type
6.3.1 Football
6.3.2 Baseball
6.3.3 Basketball
6.3.4 Hockey
6.3.5 Cricket
6.3.6 Tennis
6.3.7 Golf
6.3.8 Boxing
6.3.9 Horse Riding
6.3.10 Auto Racing

7 Global Sports Betting Market, By Region
7.1 Global Sports Betting Market Share Analysis, By Region
7.2 Global Sports Betting Market Share Analysis, By Region

8 North America Sports Betting Market Analysis and Forecast (2022-2027)
8.1 Introduction
8.2 North America Sports Betting Market Share Analysis, By Platform
8.3 North America Sports Betting Market Size and Forecast, By Sport Type
8.4 North America Sports Betting Market Size and Forecast, By Country
8.4.1 U.S
8.4.2 Canada
8.4.3 Mexico

9 Europe Sports Betting Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 Europe Sports Betting Market Share Analysis, By Platform
9.3 Europe Sports Betting Market Size and Forecast, By Sport Type
9.4 Europe Sports Betting Market Size and Forecast, By Country
9.4.1 Germany
9.4.2 France
9.4.3 UK
9.4.4 Rest of Europe

10 Asia Pacific Sports Betting Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Asia Pacific Sports Betting Market Size and Forecast, By Platform
10.3 Asia Pacific Sports Betting Market Size and Forecast, By Sport Type
10.4 Asia Pacific Sports Betting Market Size and Forecast, By Country
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4. Rest of Asia Pacific

11 Latin America Sports Betting Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Latin America Sports Betting Market Size and Forecast, By Platform
11.3 Latin America Sports Betting Market Size and Forecast, By Sport Type
11.4 Latin America Sports Betting Market Size and Forecast, By Country
11.4.1 Brazil
11.4.2. Rest of Latin America

12 Middle East Sports Betting Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Middle East Sports Betting Share Analysis, By Platform
12.3 Middle East Sports Betting Size and Forecast, By Sport Type
12.4 Middle East Sports Betting Market Size and Forecast, By Country
12.4.1. Saudi Arabia
12.4.2. UAE
12.4.3. Egypt
12.4.4. Kuwait
12.4.5. South Africa

13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies

14 Company Profiles
14.1 888 Holdings Plc.
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Development
14.1.6 Key Strategies
14.2 Bet 365 Group Ltd.
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 GVC Holding plc.
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 The Stars Group
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Paddy Power Betfair Plc.
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 William Hill plc.
14.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Fortuna Entertainment Group
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Betfred Ltd.
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 mybet Holding
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 Hong Kong Jockey Club
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies

Uncategorized

Sends company confirmed its participation in the ICE London Conference 2024

Published

4 months ago

January 17, 2024

Zoltan Tundik

ICE is the global showcase of innovative technologies, home to 600+ international brands providing access to products and services designed to enhance growth potential. Sends financial company confirmed its participation in the conference inviting to the brand’s stand for meetings.

The 6th of February is the opening day of ICE London 2024. The Sends team will spend three days of the conference meeting the current partners and establishing relationships with new ones in London. On its LinkedIn page, the company noticed that it had set up a stand to provide all the information about activity and business propositions, to meet with associates, and to engage with conference participants.

“Sends team is eager to meet the partners and new people at ICE London 2024. This event is iconic among gaming companies and market players. Organizers predict record attendance for the last London edition. We can’t miss this global event’s opportunities” , commented Anastasiia Pervushyna, Director/MLRO in Sends.

One of the shareholders (owners) of this company is Alona Shevtsova, a businesswoman, philanthropist, and active participant in the Ukrainian and UK FinTech community.

“Recent international industry events during the past year have already clearly shown the value and significance of in-person events for our industry and we expect that to be very evident in London as well”, Alona Shevtsova added.

Sends provides Internet acquiring, multicurrency personal and business accounts. Opening a SEPA/SWIFT/Faster Payments bank account is available within 48 hours after submitting the necessary documents. Sends is available in the web and app versions.

In 2025, the ICE London conference will relocate to Barcelona, Spain. The historic edition of the world’s largest and most international gaming expo ends in Great Britain. This country has hosted the event since 2013.

ICE London 2024 will be held from the 6th to 8th February at ExCeL London. To schedule a meeting with Sends representatives, please use [email protected] email or the conference application.

*Sends is a trade name of SMARTFLOW PAYMENTS LIMITED.

SMARTFLOW PAYMENTS LIMITED is registered in England and Wales (Company number 11070048).

Gaming

It’s time to speed up AI: Slotegrator presented new exciting solutions at iGB L!ve 2023

Published

10 months ago

July 25, 2023

Hunor Pal

A new era in the iGaming industry has begun: AI-powered solutions are now becoming affordable. Slotegrator presented the new AI-powered capabilities of its turnkey online casino platform at iGB L!ve 2023 in Amsterdam.

Every year, Slotegrator presents its newest innovations at iGB L!ve. This year, the company added several new features to its turnkey online casino platform, basing the additions on the results of internal customer research and global market analysis.

Upcoming trends are a constant source of speculation in the iGaming industry. As an industry trendsetter itself, Slotegrator knows what to bet on; last year, the company predicted rapid AI growth, and these capabilities have already been integrated into the company’s solutions.

The upgrades include:

The business intelligence (BI) module has become an Artificial BI module. Now it not only helps operators track the analytical data they need to make strategic decisions, but allows them to compare their project with others that operate in the same market. It’s an effective tool for analyzing competitors’ activities and to improve the entire business strategy.
ChatGPT was integrated to offer operators 24/7 business consultation. While the strategy will ultimately be up to the casino operator, ChatGPT’s capacity to offer advice can prove invaluable.
Fraud Detection (for collecting Big Data to reduce risk) with AI makes it easy for casino operators to set the parameters of what constitutes potentially fraudulent behavior and then segment players accordingly and take action when necessary.

Also, Slotegrator integrated a multiplayer chat function – an effective retention tool that emphasizes the value of live communication and offers opportunities for networking and creating player communities. The solution will see the addition of AI capabilities as well.

“This is just the first set of innovations. We are planning to use AI to boost our platform even further. The industry standards are changing, so the market can’t afford to use old tools now. Our participation in iGB L!ve 2023 demonstrated this completely,” says Dmytro Taran, COO at Slotegrator.

Uncategorized

LeoVegas Group granted three licenses to offer gaming software in Sweden

Published

12 months ago

June 5, 2023

Gaspar Incze

Reading Time: 2 minutes

LeoVegas Group has been granted three five-year licenses by the Swedish Gambling Authority—known as “B2B licenses”— to develop and offer gaming software in Sweden. These licenses, effective from 1 July 2023, have been granted to the Group’s game studio Blue Guru Games and two platforms. Licenses are a prerequisite for providing software to licensed operators and an important step to prevent unlicensed gaming companies, consequently strengthening channelisation in the Swedish gaming market.

Since its inception, LeoVegas Group has experienced rapid growth, evolving from an operator into an integral player within the igaming industry’s value chain via game and platform development. Effective from July 1, 2023, under the Swedish Gambling Act, companies involved in the manufacture, provision, installation, or modification of game software utilised in online gaming are required to possess a license.

LeoVegas Group has now been granted three five-year licenses—referred to as “B2B licenses”—by the Swedish Gambling Authority. These licenses have been conferred upon the Group’s game studio Blue Guru Games, as well as the Group’s two platforms (PAM).

Gustaf Hagman, CEO of LeoVegas Group, said “We welcome the introduction of B2B licenses, a decisive step towards mitigating the impact of key gaming software being simultaneously provided to licensed operators and unlicensed operators targeting Swedish players. With the new regulations in force, it is now critical that authorities focus on those suppliers deliberately undermining the Swedish licensing system by facilitating unlicensed gaming“.

The 2019 initiation of Swedish gaming licenses marked a significant reform to regulate and supervise gaming companies operating in Sweden. This reform fortified regulations pertaining to marketing and consumer protection, while also ensuring substantial gambling tax revenues. The success of the B2B licensing system heavily depends on the Swedish Gambling Authority’s capacity to restrict key gaming software intended for licensed Swedish companies from simultaneously being used by unlicensed operators seeking to attract Swedish players.

On 1 May, LeoVegas Group announced its intentions to acquire game developer Push Gaming, which is also licensed by the Swedish Gambling Authority and holds two B2B licenses. The acquisition is expected to be completed in the third quarter of 2023.