The sports betting market was valued at US$85.047 billion in 2019. Betting makes up about 30-40% of the global gambling market, which also includes lotteries, casinos, poker, and other gaming.
The sports betting market is projected to witness considerable growth primarily on account of the inclination of the governments of numerous countries towards the legalization of sports betting. Furthermore, the rising penetration of various legal online platforms in some countries is also further supplementing the sports betting market growth in the near future.
The online sports betting segment is projected to witness considerable growth during the next five years. The rapid internet and smartphone penetration coupled with the launch of new online betting platforms are some of the key factors bolstering the growth of this segment throughout the forecast period.
The global online gambling market is anticipated to be valued at more than 92.9 billion U.S. dollars in 2023. The current size of the market is almost 59 billion U.S. dollars, meaning the size is forecast to double in the upcoming years.
In this ebook, we will learn How Technology is Transforming the Online Gambling Industry.