Market Research Future has published a Half-Cooked Research Report on the Global Online Sports Betting Market.
The global online sports betting market is estimated to reach USD 59,530.7 million by 2026, registering a CAGR of 13.6% during the forecast period, 2020–2026. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the next few years.
The global online sports betting market is expected to witness favorable growth during the forecast period. Factors such as growing sports demand and rising demand for eSports activities are expected to drive the market during the study period. The increasing digital innovation hasalso created a growth opportunity for the Online sports bettingmarket. However,the government restrictions in some countries are likely to restrain the growth of the global market.
Segmental Analysis
The global online sports betting market has been segmented based on sports, type, application, and region.
Based on sports type, the online sports betting market is bifurcated based on the sports type into football, cricket, tennis, baseball, volleyball, basketball, hockey, horse riding, boxing, golf, racing, and others. The football sub-segment is further divided into FIFA, Premier League, UEFA/EURO, and others.The footballsegment accounted for the larger market value in 2019, reaching a value of USD 6,046.2million; it is expected to register aCAGR of 12% during the forecast period. The horse racing/ riding segment was valued at USD 4,667.8million; it is projected to register the CAGR of 13.0%.However, the hockey segment is expected to register the highest CAGR of 15.3%.Online football betting sites provide the best-in experience with an online sportsbook (a reference book that is used to track wagers, payouts, and debts) that is safe and secure, providing an honest and reliable platform to bet and earn money. The FIFA segment under football accounted for the largest market value of 2,366 million in 2019, growing at a CAGR of 12 during the forecast period.FIFA World Cup, one of the biggest events for football and betting lovers. Online sportsbooks provide insights through historical data to make smart decisions over the bets. The FIFA bets are mainly categorized into money line bets, outright bets, in-play bets, accumulator bets, and special bets.
By type, the online sports betting market is segmented into line-in-play, fixed old betting, daily fantasy, e-sports, exchange betting, spread betting, and others.The line-in-play segment accounted for the largest market share of 31.3% in 2018, with a market value of USD 7,135.8 million; it is expected to register a CAGR of 11.8% during the forecast period. The fixed old betting segment was the second-largest market in 2018, valued at USD 5,233.3 million; it is projected to exhibit a CAGR of 11.8%. However, the e-sports segment is expected to register the highest CAGR of 16.3%.Line-in-play or live/in-game online sports betting refers to live betting while the game is still running, and bettors are open to place their bets. Bettors can put on their wagers as the game progresses, attracting those impulsive bettors, posing a high risk of volatility of losing money, creating a series of bad-line opportunities.Fixed old betting is also known as fixed-odds betting. It offers potential profit or loss in multiples of odds offered by the bookmaker. The returns will be a multiplication of your stake times the odds-on offer.
Based on application, the Online sports bettingmarket is divided into mobile-based and web-based applications for online betting.The web-based segment accounted for the larger market share of 64.6% in 2018, with a market value of USD 14,744.3 million; it is expected to register a CAGR of 8.7% during the forecast period. In 2018, the mobile-based segment was valued at USD 8,076.1 million; it is projected to register the higher CAGR of 19.7%.Websites play a crucial role in providing bettors to bet offering several benefits. Web-based applications offer compatibility to various devices, making users seamlessly access betting events. Additionally, other advantages of web-based betting include easy navigation, no revenue sharing, support to the cryptocurrencies, highly secure platform, betting limits, various betting types, administrative dashboards to manage and control user privileges, and a risk management system 24/7 support, and compliance with government regulation such as GDPR.
Competitive Analysis
The key players of the global online sports bettingmarket include888 Holdings PLC (UK), Bet365 Group Ltd (UK), Churchill Downs Incorporated (US), Flutter Entertainment PLC (UK), Entain PLC (UK), DraftKings (US), Fortuna Entertainment Group (Netherlands), Betsson AB (Sweden), Betfred Ltd (UK), Kindred Group PLC (Malta), Sportech PLC (UK), Webis Holdings PLC (Isle of Man), BetAmerica (US), HKJC Football Betting Limited (Hong Kong), and Megapari (Cyprus).
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Regional Analysis
The regional analysis for the global Online sports bettinghas been done for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. In 2019, Europe accounted for the largest market share and it is expected to register notable growth during the study period. The North Americamarketis expected to register the highest CAGR during the forecast period.