Sports Betting Market size to grow by USD 139.26 billion from 2021 to 2026, 35% of the market growth to originate from APAC - Technavio

NEW YORK, June 20, 2023 /PRNewswire/ -- The sports betting market size is expected to grow by USD 139.26 billion during 2022 to 2027, progressing at a CAGR of 10.09% as per the latest Technavio market research report. APAC is estimated to account for 35% of the global market growth. China and Australia are the key markets for sports betting in the region. The rise in demand for online games and fantasy sports platforms such as Dream11, a brand of Sporta Technologies Pvt. Ltd., facilitates the sports betting market growth in APAC over the forecast period. The ever-increasing presence of digital platforms, the adoption of online betting, and the presence of key countries such as China are some of the major reasons for the growth of the market in the region. The growth in demand for online games and fantasy sports platforms such as Dream11, a brand of Sporta Technologies Pvt. Ltd., contributes significantly to the growth of the regional market. In emerging nations of APAC, betting is carried out in various sports, including cricket, horse racing, and soccer. There are differences in regulations from country to country. For instance, China has various forms of betting, including sports betting, lottery, and casino games. Furthermore, the increasing demand for online sports betting services among countries in APAC is expected to fuel the growth of the sports betting market in the region during the forecast period. For more insights on the market share of various regions- Download sample report in MINUTES

Sports Betting Market: Digital revolution to drive growth

• A key factor driving the global sports betting market growth is the digital revolution. 
• Due to the recent global digital revolution, cloud platforms are preferred to store data, and there has been a burgeoning increase in online transactions and payments among commercial as well as retail users.
• The sports betting landscape has fundamentally changed, and the global sports betting market has shifted toward online or virtual applications and platforms because of extensive digitalization. 
• With the rapid adoption of the internet and the availability of various mobile apps and online platforms, modern consumers can easily engage in sports betting and conveniently connect with sportsbooks. 
• Hence, the growth of digital platforms and the increasing Internet penetration have given consumers easy access to online sports betting platforms, which will drive the growth of the market growth during the forecast period.

Sports Betting Market: Emergence Of Machine Learning In Sports Betting 

• A key sports betting market trend that is expected to impact the market growth positively in the forecast period is the emergence of machine learning, blockchain, virtual reality, and AI in sports betting. 
• Major vendors in the market increasingly focus a significant part of their investments in machine learning tools and methods, which have shown promising results in prediction.
• Machine learning helps to build predictive algorithms and accurate predictive models for improved betting efficiency and as the global sports betting market evolves, it is necessary for consumers to find useful strategies and accurate predictions to increase their efficiency.
• Sports bettors are expected to growingly become familiar with new machine learning algorithms that attempt to predict the outcomes of games and races.
• Hence, the emergence of machine learning is expected to further support the sports betting market growth during the forecast period.

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Some of the key Sports Betting Market Players:

The sports betting market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

888 Holdings Plc, Bet365 Group Ltd., BetOnline, Betsson AB, Bettilt, Caesars Entertainment Inc., Chancier BV, Churchill Downs Inc., DraftKings Inc., Entain Plc, Flutter Entertainment Plc, Kindred Group Plc, LeoVegas AB, Parimatch, Penn Entertainment Inc., Sportech Plc, SportsBetting.ag, The Betway Group, The Hong Kong Jockey Club, and Webis Holdings Plc are some of the major players in the market. 

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Sports Betting Market: Segmentation Analysis

This market research report segments the sports betting market by platform (online and offline), type (basketball, horse riding, football, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

The market share growth by the online segment will be significant during the forecast period. Due to the extensive digitalization and rising smartphone penetration, regions such as APAC and MEA are estimated to offer a huge scope of growth for the online segment. The growth can be attributed to factors such as the expansion of the betting market due to continuous product development and innovation , growing penetration of the Internet and smartphones , structural migration of customers from retail to online , and continuous improvement in the quality of platforms available, with betting applications providing a convenient user experience to customers.

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1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Platform
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global sports betting market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global sports betting market 2017 - 2021 ($ billion)

• 4.2 Platform Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Platform Segment 2017 - 2021 ($ billion)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Platform

• 6.1 Market segments
• Exhibit 30: Chart on Platform - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Platform - Market share 2022-2027 (%)

• 6.2 Comparison by Platform 
• Exhibit 32: Chart on Comparison by Platform
• Exhibit 33: Data Table on Comparison by Platform

• 6.3 Online - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 6.4 Offline - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Platform 
• Exhibit 42: Market opportunity by Platform ($ billion)
• Exhibit 43: Data Table on Market opportunity by Platform ($ billion)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 44: Chart on Type - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 46: Chart on Comparison by Type
• Exhibit 47: Data Table on Comparison by Type

• 7.3 Basketball - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Basketball - Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Data Table on Basketball - Market size and forecast 2022-2027 ($ billion)
• Exhibit 50: Chart on Basketball - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Basketball - Year-over-year growth 2022-2027 (%)

• 7.4 Horse riding - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Horse riding - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Data Table on Horse riding - Market size and forecast 2022-2027 ($ billion)
• Exhibit 54: Chart on Horse riding - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Horse riding - Year-over-year growth 2022-2027 (%)

• 7.5 Football - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Football - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Data Table on Football - Market size and forecast 2022-2027 ($ billion)
• Exhibit 58: Chart on Football - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Football - Year-over-year growth 2022-2027 (%)

• 7.6 Others - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 62: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Type 
• Exhibit 64: Market opportunity by Type ($ billion)
• Exhibit 65: Data Table on Market opportunity by Type ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 67: Chart on Market share by geography 2022-2027 (%)
• Exhibit 68: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 69: Chart on Geographic comparison
• Exhibit 70: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 75: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 79: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 91: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 95: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Australia - Market size and forecast 2022-2027 
• Exhibit 103: Chart on Australia - Market size and forecast 2022-2027 ($ billion)
• Exhibit 104: Data Table on Australia - Market size and forecast 2022-2027 ($ billion)
• Exhibit 105: Chart on Australia - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Australia - Year-over-year growth 2022-2027 (%)

• 9.12 Italy - Market size and forecast 2022-2027 
• Exhibit 107: Chart on Italy - Market size and forecast 2022-2027 ($ billion)
• Exhibit 108: Data Table on Italy - Market size and forecast 2022-2027 ($ billion)
• Exhibit 109: Chart on Italy - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Italy - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 111: Market opportunity by geography ($ billion)
• Exhibit 112: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 113: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 115: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 116: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 117: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 118: Matrix on vendor position and classification

• 12.3 888 Holdings Plc
• Exhibit 119: 888 Holdings Plc - Overview
• Exhibit 120: 888 Holdings Plc - Business segments
• Exhibit 121: 888 Holdings Plc - Key news
• Exhibit 122: 888 Holdings Plc - Key offerings
• Exhibit 123: 888 Holdings Plc - Segment focus

• 12.4 Bet365 Group Ltd.
• Exhibit 124: Bet365 Group Ltd. - Overview
• Exhibit 125: Bet365 Group Ltd. - Product / Service
• Exhibit 126: Bet365 Group Ltd. - Key offerings

• 12.5 BetOnline
• Exhibit 127: BetOnline - Overview
• Exhibit 128: BetOnline - Product / Service
• Exhibit 129: BetOnline - Key offerings

• 12.6 Betsson AB
• Exhibit 130: Betsson AB - Overview
• Exhibit 131: Betsson AB - Product / Service
• Exhibit 132: Betsson AB - Key offerings

• 12.7 Caesars Entertainment Inc. 
• Exhibit 133: Caesars Entertainment Inc. - Overview
• Exhibit 134: Caesars Entertainment Inc. - Business segments
• Exhibit 135: Caesars Entertainment Inc. - Key news
• Exhibit 136: Caesars Entertainment Inc. - Key offerings
• Exhibit 137: Caesars Entertainment Inc. - Segment focus

• 12.8 Churchill Downs Inc.
• Exhibit 138: Churchill Downs Inc. - Overview
• Exhibit 139: Churchill Downs Inc. - Business segments
• Exhibit 140: Churchill Downs Inc. - Key news
• Exhibit 141: Churchill Downs Inc. - Key offerings
• Exhibit 142: Churchill Downs Inc. - Segment focus

• 12.9 DraftKings Inc.
• Exhibit 143: DraftKings Inc. - Overview
• Exhibit 144: DraftKings Inc. - Business segments
• Exhibit 145: DraftKings Inc. - Key offerings
• Exhibit 146: DraftKings Inc. - Segment focus

• 12.10 Entain Plc
• Exhibit 147: Entain Plc - Overview
• Exhibit 148: Entain Plc - Business segments
• Exhibit 149: Entain Plc - Key news
• Exhibit 150: Entain Plc - Key offerings
• Exhibit 151: Entain Plc - Segment focus

• 12.11 Flutter Entertainment Plc 
• Exhibit 152: Flutter Entertainment Plc - Overview
• Exhibit 153: Flutter Entertainment Plc - Business segments
• Exhibit 154: Flutter Entertainment Plc - Key news
• Exhibit 155: Flutter Entertainment Plc - Key offerings
• Exhibit 156: Flutter Entertainment Plc - Segment focus

• 12.12 Kindred Group Plc
• Exhibit 157: Kindred Group Plc - Overview
• Exhibit 158: Kindred Group Plc - Business segments
• Exhibit 159: Kindred Group Plc - Key offerings
• Exhibit 160: Kindred Group Plc - Segment focus

• 12.13 LeoVegas AB
• Exhibit 161: LeoVegas AB - Overview
• Exhibit 162: LeoVegas AB - Key offerings

• 12.14 Penn Entertainment Inc. 
• Exhibit 163: Penn Entertainment Inc. - Overview
• Exhibit 164: Penn Entertainment Inc. - Product / Service
• Exhibit 165: Penn Entertainment Inc. - Key offerings

• 12.15 Sportech Plc
• Exhibit 166: Sportech Plc - Overview
• Exhibit 167: Sportech Plc - Product / Service
• Exhibit 168: Sportech Plc - Key offerings

• 12.16 The Betway Group
• Exhibit 169: The Betway Group - Overview
• Exhibit 170: The Betway Group - Key offerings

• 12.17 The Hong Kong Jockey Club 
• Exhibit 171: The Hong Kong Jockey Club - Overview
• Exhibit 172: The Hong Kong Jockey Club - Product / Service
• Exhibit 173: The Hong Kong Jockey Club - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 174: Inclusions checklist
• Exhibit 175: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 176: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 177: Research methodology
• Exhibit 178: Validation techniques employed for market sizing
• Exhibit 179: Information sources

• 13.5 List of abbreviations 
• Exhibit 180: List of abbreviations

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