8 July 2019 – The
Global Sports Betting Market is estimated
to grow significantly in the forecast period owing to the rapidly growing
preference for digital platforms and growing internet penetration that gives
easy accessibility to customers for online sports betting. Sports betting is a
kind of gambling activity that involves prediction of a sport result and
placing wagers accordingly. Sports betting is similar to the traditional
probability games like dice, roulette, or cards.
Digital revolution in sports industry is the primary factor
responsible for the growth of sports betting market. Digital platforms allow
customers to place bets from any remote location around the world. The growing
popularity of e-sports is forcing bookies to bet on different e-sports matches,
now including tennis, golf, and rugby. The growing volume of betting is driving
the revenue generation across the sports betting market.
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Extensive use of digital platforms and increasing demand
from customers (betting supporters) is driving the growth of sports betting
market. The rising popularity of virtual sports betting is one of the key
trends in sports betting market. Several bookies prefer virtual sports betting
due to increasing fascination of online and sports video games. Virtual betting
is impartial since it predicts the results from the computer algorithm. In
addition, virtual sports betting is integrated with innovative and highly
advanced graphics that attract players.
Sports betting market is categorized on the basis of type,
application, and geography. On the basis of type, sports betting market is
divided into association football (soccer), American football, basketball, hockey,
mixed martial arts, and boxing. Based on application sports betting market is
divided into draw games, instant games, lotto, numbers games, and others.
Geographically, sports betting market can be segmented as
North America, Europe, Asia Pacific, and Middle East & Africa. The Americas
are predicted to be the major revenue contributors to the sports betting market
due to the extensively rising popularity of sports betting in this region. The
prominent players in sports betting market include Lottery, William Hill,
Bet365, Ladbrokes, Paddy Power, Bwin, Betfair, Unibet, and Paddy Power Betfair
among others.
Market segment by
Type, the product can be split into
• Association Football (Soccer)
• American Football
• Basketball
• Hockey
• Mixed Martial Arts
• Boxing
Market segment by
Application, Sports Betting can be split into
• Draw games
• Instant Games
• Lotto
• Numbers Games
• Others
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