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Sports Betting Global Market Report 2023: Rapid Growth of the eSports Sector Presents Opportunities

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The “Sports Betting Market Size, Share & Trends Analysis Report By Platform, By Betting Type (Fixed Odds Wagering, Exchange Betting, Live/In-Play Betting, eSports Betting), By Sports Type, By Region, And Segment Forecasts, 2023 – 2030” report has been added to ResearchAndMarkets’s offering.

The global sports betting market size is estimated to reach USD 182.12 billion by 2030, registering a CAGR of 10.3% from 2023 to 2030.

This growth of the market is driven by the proliferation of internet infrastructure and evolving regulatory landscape of the entire gambling industry across the world.

In addition, the increase in the number of sports events and leagues worldwide such as the NFL, FIFA World Cup, Carabao Cup, and UEFA Europa League has positively influenced the growth of the market.

Furthermore, an increase in disposable income and the rising usage of AI and blockchain technologies to improve the prediction algorithms in betting software are likely to boost the growth of the market during the forecast period.

Esports, which is an organized, multiplayer video game competition, played by professional players, individuals, or teams, has gained massive popularity during the COVID-19 pandemic and witnessed a surge in the number of events worldwide. Market players are utilizing the increased number of esports events to offer an opportunity for their customers to bet on such esports competitions and earn extra income.

The surge in online sports events backed up by a rise in the number of esports tournaments offers stable growth opportunities for the betting industry. For instance, according to the report by the U.K. Gambling Commission, there was a huge 2922% year-on-year rise in esports betting revenue from March 2019 to March 2020.

Major players in the global betting industry now operate via official websites and online platforms to cater to the increased demand for sports betting. Additionally, the market players are expanding their presence across countries with supportive regulatory compliance. For instance, in December 2021, Unikrn Inc., a global esports betting & entertainment media company introduced its betting platform in Canada and Brazil. In addition to this launch, the company has further announced to increase its presence across a greater number of regulated markets in 2023.

The lives of multiple households around the globe have been affected during the COVID-19 pandemic. In addition, this situation led to the cancellation of worldwide sports matches and the closure of land-based casinos and betting shops. However, the pandemic expanded the online sports betting industry due to the rise of esports and virtual sporting events. The popularity of online sports betting increased during the pandemic with an upsurge in the number of betting participants. For instance, according to a study conducted by Public Health England, online casino gambling had seen growth by nearly 9.0% during the pandemic. Furthermore, as per the GB Gambling Commission survey, betting habits among people have changed due to Covid-19, with mobile devices continuing to be the most popular medium for gambling. The survey also found a massive inclination towards esports betting across the globe.

Sports Betting Market Report Highlights

  • North America is expected to witness a CAGR of around 11% during the forecast period. The U.S. has legalized sports betting in 36 states as of January 2023, which is a promoting factor for the regional market growth
  • The online platform segment dominated the market in 2022 and is expected to showcase the highest CAGR during the forecast period
  • The fixed-odds wagering segment accounted for a significant market share in 2022. However, the eSports betting segment is likely to witness growth at the fastest CAGR during the forecast period owing to the surge in demand for interactive games
  • Football, also known as soccer, registered the highest market share in 2022. Horseracing, followed by football, is extremely popular and accounted for the second-highest market share

Key Attributes:

Report Attribute Details
No. of Pages 131
Forecast Period 2022 – 2030
Estimated Market Value (USD) in 2022 $83.65 Billion
Forecasted Market Value (USD) by 2030 $182.12 Billion
Compound Annual Growth Rate 10.3%
Regions Covered Global

Key Topics Covered:

Chapter 1 Methodology And Scope

Chapter 2 Executive Summary

Chapter 3 Market Variables, Trends & Scope

Chapter 4 Sports Betting Market: Platform Estimates & Trend Analysis

4.1 Market Size Estimates & Forecasts And Trend Analysis, 2018 – 2030 (USD Billion)
4.2 Platform Movement Analysis & Market Share, 2022 & 2030
4.3 Offline
4.4 Online

Chapter 5 Sports Betting Market: Betting Type Estimates & Trend Analysis

5.1 Market Size Estimates & Forecasts And Trend Analysis, 2018 – 2030 (USD Billion)
5.2 Betting Type Movement Analysis & Market Share, 2022 & 2030
5.3 Fixed Odds Wagering
5.4 Exchange Betting
5.5 Live/In-Play Betting
5.6 Esports Betting
5.7 Others

Chapter 6 Sports Type Estimates And Trend Analysis

6.1 Market Size Estimates & Forecasts And Trend Analysis, 2018 – 2030 (USD Billion)
6.2 Sports Type Movement Analysis & Market Share, 2022 & 2030
6.3 Football
6.4 Basketball
6.5 Baseball
6.6 Horse Racing
6.7 Cricket
6.8 Hockey
6.9 Others

Chapter 7 Regional Estimates & Trend Analysis

Chapter 8 Competitive Analysis

Chapter 9 Competitive Landscape

Companies Mentioned

  • 888 Holdings Plc
  • bet365
  • Betsson AB
  • Churchill Downs Incorporated
  • Entain plc
  • Flutter Entertainment Plc
  • IGT
  • Kindred Group Plc
  • Sportech Plc
  • William Hill Plc

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Xprizo appoints Alex Cachia as Chief Information Officer

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Xprizo, a cutting-edge iGaming fintech platform, has appointed Alex Cachia as Chief Information Officer (CIO) as it targets significant commercial growth by harnessing technology to empower underserved communities around the globe.

His focus will be building a high-performing tech organisation to support Xprizo’s expansive growth plans. A key element will be maximising investment value and business objectives that deliver social impact and business success.

Xprizo Chief Information Officer Alex Cachia commented: “I’m excited to join Xprizo at this time – I love the product and the goal of fostering financial inclusion. There are massive growth prospects on the horizon, and I cannot wait to bridge the gap for underserved communities around the world.”

Additional efforts will be targeted at regulatory compliance, and data-driven decision-making. As CIO, he’ll be tasked with aligning technology investments with business objectives, increasing automation, and creating a culture of continuous improvement.Cachia joins Xprizo with 24 years of experience in technology leadership, with expertise in FinTech, gaming, and affiliate marketing. During this time he completed several projects in technical debt reduction, marketing tech strategies, and security enhancements in affiliate marketing.

Xprizo CVO Richard Mifsud added: “Alex arrives at Xprizo with extensive experience in scaling technology, inspiring innovation and establishing operational excellence. The team is ready to take a step forward under his leadership and adeptness with cutting-edge solutions to achieve our mission of financial inclusion.”

The post Xprizo appoints Alex Cachia as Chief Information Officer appeared first on European Gaming Industry News.

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Spinomenal launches latest Spinoleague with €12m Max prize pool

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Leading iGaming content provider, Spinomenal has launched its latest Spinoleague that has a massive €12m max prize pool. The Spinoleague returns after last year’s huge success, promising even more thrilling challenges in its highly anticipated first tournament.

The Spinoleague follows an innovative format, divided into separate tournaments, each comprising several rounds and culminating with one final ‘Super Round.’ Spinomenal’s entire portfolio of slot games (including any new releases) will participate in the Spinoleague, except for 1 Reel games and a small selection of others.

There are eight tournaments in total and the first begins today before concluding on 26th March. The next seven tournaments begin the day after the last finishes and the final one will end on 4th March 2026. Promotional activities will be running throughout the tournaments to heighten the excitement and build anticipation.

An interactive Leaderboard is available for players who reach the qualifying total which will be displayed within the tournament tool. After each round ends, the Leaderboard will reset, giving players a chance to climb the ranks.

Spinomenal CO-CEO, Omer Henya commented: “Spinoleague is back by popular demand after the massive success it enjoyed last year as we marked our 10th anniversary. The next edition of the tournament features several rounds that each build to the ultimate Super Round.”

The post Spinomenal launches latest Spinoleague with €12m Max prize pool appeared first on European Gaming Industry News.

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Grand Slam Track™ announces Stats Perform as exclusive global data and betting rights provider

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Grand Slam Track™, the new global home of professional track competition, launched by four-time Olympic Champion Michael Johnson, announced it has selected global sports AI, tech and data leader Stats Perform as its exclusive global data and betting rights distributor and integrity partner. 

Grand Slam Track™ is the premier global professional track league, featuring head-to-head matchups between the fastest stars in the sport. Every detail has been designed to unlock the sport’s full potential of storytelling, personalities, and gamification for broadcast and commercial partners and most importantly, for track stars and fans. 

Amongst increased prize money, contracted racers, and many other innovations designed to elevate the profile of track racing, only one event will take place at a time at each Slam. The Slams will be broadcast live on linear TV and streaming and across licensed sportsbooks. Together these initiatives are expected to create unprecedented fan affinity and attention for the racers and rivalries.  

Stats Perform is a trusted partner to many of the world’s highest-profile professional men’s and women’s sports organizations, with a deep expertise in collecting, creating, and distributing trusted, premium sports data, AI technology, and news and video content to maximize fan and bettor engagement, as well as supplying integrity services across the world of professional sport. 

“We’re delighted to partner with a world leader like Stats Perform to help us bring track to more fans across the globe,” said Michael Johnson, Commissioner of Grand Slam Track™.

“We look forward to setting a new standard for our sport with Stats Perform’s extensive network of trusted media and betting partners, eye-opening technology, and their true passion for the power of sport to unify and entertain. After helping leagues like the Premier League, WTA, La Liga and more build their audiences, we’re excited for them to do the same with Grand Slam Track™,” he added. 

“This partnership with Stats Perform is important for Grand Slam Track and the entire sport for a few reasons,” said Steve Gera, President of Grand Slam Track. “In addition to co-investing into the development of data and betting infrastructure for the sport, Stats Perform is also ensuring that all of our athletes, partners, and stakeholders enter this space with the highest level of knowledge, education, and integrity. They will be an important asset to the large investment our league is making into this sport.”

“MJ and the Grand Slam Track™ team have created something with astonishing entertainment and commercial potential for men’s and women’s track athletics, built upon his decades of unique experience on all sides of the spectrum, as a racer, as a media professional, and as an entrepreneur,” explained Carl Mergele, Chief Executive Officer at Stats Perform.  

“Everyone at Stats Perform is honored to have been selected as Grand Slam Track™’s exclusive data and betting streaming rights provider. We are excited to help them realize their vision of lifting the stories and personalities of track racing to their rightful positions in the hearts and minds of fans and bettors globally,” he said.

Grand Slam Track™ will host four Slams taking place this year between April and June in Kingston, Jamaica, Miami at Miramar, Philadelphia, and Los Angeles. 96 contracted men’s and women’s star athletes will race over three action-packed hours, across 12 event groups for three consecutive nights. All four Grand Slam Track events will be streamed live in the U.S. on Peacock, including exclusive coverage of Slam Fridays, with the CW Network providing broadcast coverage of Slam Saturdays and Sundays. International broadcast information will be announced soon.

The post Grand Slam Track™ announces Stats Perform as exclusive global data and betting rights provider appeared first on European Gaming Industry News.

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