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Straits Research Forecasts the Global Online Sports Betting Market Revenue to Expand at a CAGR of 11.2%, Reaching an Estimated Size of USD 1,46,363.8 Million by 2031
Online sports betting is only one of the many sports wagering methods available worldwide. Online sports betting involves forecasting sports outcomes and making bets on the development of football games. Online football betting services offer the most incredible experience with a safe and secure online sportsbook (a reference book used to monitor wagers, payments, and debts), giving a trustworthy and dependable platform to gamble and win money. The leading online betting website platforms include tools, tips, techniques, and other betting resources, although their offers vary somewhat.
Growth of High-Speed Internet Services Drives the Global Market
According to Straits Research, “The global online sports betting market was valued at USD 56,650.3 million in 2023. It is anticipated to reach USD 1,46,363.8 Million by 2032, growing at a CAGR of 11.2% over the forecast period (2024-2032).” Due to the rapid proliferation of internet-connected devices such as smartphones and tablets, online betting is a global increase. Those who observe live betting can make quick decisions that, if made correctly, might result in big profits. Therefore, live betting streaming on mobile devices such as smartphones and tablets will significantly influence the future sports betting business. The rise of internet betting is anticipated to substantially raise demand in the worldwide sports betting market during the projected period. Bookmakers provide a variety of incentives for online sports betting. These consist of bonuses for players who sign up and fund their accounts. In addition, players have access to enhanced odds, live streaming, and continuing promos. This should hasten the growth of the online sports betting industry throughout the forecast period.
Growth of Live E-Sports Coverage Platform Creates Tremendous Opportunities
E-sports investment and revenue have increased as a result of the popularity of the industry. E-sports’ appeal is largely attributable to the social component of live broadcasting and gameplay. Through video game-specific streaming sites such as Twitch and YouTube Gaming, fans can contact directly with players and teams. At the same time, more popular social networks have helped to foster these relationships. Some e-sports teams, like FaZe Clan, are branching aggressively outside of e-sports, such as into the products business, which helps build brand awareness. Thus, the expansion of live e-sports coverage platforms is projected to generate profitable chances for developing the worldwide online sports betting industry.
Regional Analysis
European online sports betting industry share is anticipated to grow at a CAGR of 12.3% during the forecast period. As a result of new game forms and play modes, sports enthusiasm and the desire to watch sports are increasing daily across Europe. It has been a significant market for players and sectors such as gaming and betting to make wagers and enjoy themselves. Europe has had gambling and betting since the 1800s, but it has reached a new level recently. With the proliferation of smartphones and technological advancements, it is now simple to run and play on the platforms provided by gambling companies. In addition, Bet365, Betsson Group, Entain, Kindred, and William Hill are a few of Europe’s most prominent players. Due to this business, almost 43,000 employments have been created in Europe. The corporations have also invested in their platforms to keep them secure and dependable for users.
Asia-Pacific is estimated to grow at a CAGR of 14.9% over the forecast period. The region is home to a growing population of more than 4.6 billion people, and an increasing number of athletic events attract individuals from various cultures. In nations where sports betting is tightly regulated or prohibited, the opportunity to access internet betting services has grown. Those who previously could not gamble can now do so securely due to the rising use of VPN software. This has proven a popular means for gamers to access localized sites and enabled them to access and play on worldwide sites.
Key Highlights
- Based on type, the global online sports betting market is divided into line-in-play, fixed old betting, daily fantasy, e-sports, exchange betting, spread betting, and others. The line-in-play segment is responsible for the largest market share and is anticipated to grow at a CAGR of 12.0% over the forecast period.
- Based on sports type, the global online sports betting market is segmented into football, cricket, tennis, baseball, volleyball, basketball, hockey, horse riding, boxing, golf, racing, and others. The football segment owns the highest market share and is expected to grow at a CAGR of 12.20% over the forecast period.
- Europe is the highest contributor to the market and is anticipated to grow at a CAGR of 12.3% during the forecast period.
Competitive Players
The key players in the global online sports betting market are Bet365, GVC Holdings PLC, William Hill Inc., Paddy Power Betfair PLC, Ladbrokes Coral Group PLC, Betsson AB, The Stars Group Inc., Sky Betting and Gaming, 888 Holdings PLC, and Kindred Group PLC.
Market News
- In January 2023, Kentucky lawmakers introduced a new bill to legalize sports betting and online poker.
- In January 2023, SIS (Sports Information Services), the leading multi-channel supplier of 24/7 live betting services, signed a deal to integrate its offering onto the platform of leading global provider BetConstruct, starting with its 24/7 Live Racing Content.
Global Online Sports Betting Market: Segmentation
By Type
- Line-In-Play
- Fixed Old Betting
- Daily Fantasy
- E-Sports
- Exchange Betting
- Spread Betting
- Others
By Sports Type
- Football
- Cricket
- Tennis
- Baseball
- Volleyball
- Basketball
- Hockey
- Horse Riding
- Boxing
- Golf
- Racing
- Others
By Regions
- North America
- Europe
- Asia-Pacific
- South America
- The Middle East and Africa
Latest News
Will Bolton named ‘David Orrick Journalist of the Year’ at ICE Barcelona
Will Bolton, Editor of G3 has been named the first ‘David Orrick Journalist of the Year’. Presented at ICE Barcelona by Clarion Gaming Managing Director Stuart Hunter, the Award has been created in memory of respected gambling industry writer David Orrick who passed in September 2024 aged 75.
Making the presentation, Stuart Hunter said: “Last year the industry sadly lost one of its most ardent and articulate supporters with the passing of David Orrick. David worked in the industry first as a journalist editing trade title EuroSlot and then heading-up PR and media relations for a raft of internationally recognised gambling brands.
“From the moment he joined the industry in 1995 he participated in our events first as a journalist and then as an exhibitor handling comms for many of the land-based sector’s best known manufacturers.
“David was a formidable personality steeped in the industry, highly knowledgeable and internationally respected. When David shared his opinion you listened and took note of his insights. He was a true ‘critical friend’ and made important contributions to the success of our brands not least ICE which he supported with a passion. He is greatly missed by everyone who knew him.
“In David’s honour and having consulted with his family we decided to launch a special award which carries his name. The David Orrick Journalist Of The Year Award recognises the talent and dedication which exists within the community of writers who report on the industry. Often overlooked, they provide an essential service helping to bring together games creators and providers with consumer-facing brands.
“To launch the David Orrick Award we invited publishers to nominate one of their star writers. From what was an extremely high quality short list a judging panel comprising members of the Clarion team identified our inaugural winner. Described by our judges as being extremely talented, diligent, easy to build a rapport with incisive and knowledgeable. I am delighted to confirm G3’s Will Bolton as the winner of the inaugural David Orrick Journalist of the Year.”
David’s son James Davidson reflected: “David lived and breathed the industry with everything that he had. It wasn’t a job , it was a way of life and something that he cherished dearly. David is hugely missed but he would be undoubtedly proud of the fact that his work and commitment to the industry has been valued. This Award would be something he would have hugely endorsed and shared avidly with the winners. Thank you for creating an award that shares and recognises David’s work.”
The post Will Bolton named ‘David Orrick Journalist of the Year’ at ICE Barcelona appeared first on European Gaming Industry News.
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Toshi.bet Expands in Crypto Gambling Market with Instant Withdrawals and Privacy-Focused Gaming
Toshi.bet introduces a streamlined crypto gambling experience with instant transactions, no KYC requirements, and tailored deposit bonuses.
Toshi.bet, a growing cryptocurrency casino, is expanding its presence in the online gambling industry with a focus on instant withdrawals, privacy, and a broad selection of gaming options. Operating as a no-KYC platform, Toshi.bet provides players with an alternative to traditional online casinos by leveraging blockchain-backed security and provably fair gaming.
Key Features of Toshi.bet
- Notable Growth in the Crypto Casino Sector – Toshi.bet has seen an increase in its user base, with thousands of players engaging in its gaming platform daily.
- Instant Deposits & Withdrawals – The platform supports Bitcoin (BTC), Ethereum (ETH), USDT, and various other cryptocurrencies, enabling near-instant, fee-free transactions.
- Privacy-Focused Gaming – With no KYC requirements, Toshi.bet offers users the ability to place bets while maintaining their anonymity.
- Deposit Bonuses & Reward Programs – Players can access tailored deposit bonuses of up to 200%, free spins, and rakeback rewards.
- Diverse Game Selection – The platform features a variety of gaming options, including slots, live casino, Plinko, dice, and other blockchain-optimized games.
The post Toshi.bet Expands in Crypto Gambling Market with Instant Withdrawals and Privacy-Focused Gaming appeared first on European Gaming Industry News.
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PopOK Gaming Introduces Poly Live Casino Studio by Alec Monopoly, Featuring Poly Blackjack & Poly Roulette
PopOK Gaming, a leading innovator in the iGaming industry, is pleased to announce the launch of the groundbreaking Poly Live Casino Studio by world-renowned street artist Alec Monopoly.
This one-of-a-kind live casino experience merges the excitement of classic table games with Monopoly’s signature artistic flair, offering an electrifying new dimension to online gaming.
The Poly Live Casino Studio introduces two premium live dealer games – Poly Blackjack and Poly Roulette – delivering an unparalleled fusion of art, entertainment, and immersive gameplay. Featuring exclusive designs by Alec Monopoly, the studio is set to captivate players with its bold visuals and dynamic atmosphere, transforming traditional casino gaming into a work of art.
A Live Casino Experience Like No Other
The Poly Live Casino Studio is a fully interactive, high-energy gaming environment where players can engage with professional dealers in real time. Designed to reflect Alec Monopoly’s iconic street art style, every element of the studio – from the tables to the backdrops – exudes creativity and luxury.
- Poly Blackjack: A fresh take on the timeless classic, featuring a customized table design with bold, colorful artwork and dynamic visuals that elevate the traditional roulette experience. Players can enjoy all the standard inside and outside bets, complemented by an electrifying atmosphere inspired by Monopoly’s signature art.
- Poly Roulette: This exclusive Blackjack table offers a seamless combination of strategy and style. With a fully immersive studio setting and high-quality streaming, players can engage in classic Blackjack gameplay while surrounded by a unique artistic backdrop. The game maintains all standard rules while offering an elevated, collector’s edition feel.
A Collaboration That Redefines Gaming
Alec Monopoly, known for his vibrant and unconventional artistic expressions, brings his signature touch to the live casino space in collaboration with PopOK Gaming. This partnership pushes the boundaries of iGaming by blending fine art with cutting-edge technology, offering players a gaming experience that is as visually striking as it is thrilling.
Elevating the Future of Live Casino Gaming
The launch of the Poly Live Casino Studio marks a new era for live dealer games, where creativity and gaming converge to create a uniquely engaging atmosphere. With PopOK Gaming’s cutting-edge technology and Monopoly’s artistic brilliance, this live casino experience is set to redefine industry standards.
The Poly Live Casino Studio is now available for operators worldwide, bringing a visually stunning and highly interactive gaming experience to players across multiple platforms.
For more information about Poly Blackjack, Poly Roulette, and the Poly Live Casino Studio, visit popokgaming.com.
The post PopOK Gaming Introduces Poly Live Casino Studio by Alec Monopoly, Featuring Poly Blackjack & Poly Roulette appeared first on European Gaming Industry News.
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