Sports Betting Tops One Trillion US Dollars Says Bookmaker to the Billionaires

LONDON, September 3, 2014 /PRNewswire/ --

The total value of the global sports betting market is difficult to estimate because of the lack of consistency in how it is regulated in some parts of the world. Some estimates put the value of the sports betting industry at between 700 billion U.S. dollars and 1,000 billion U.S. dollars. Illegal sports betting alone could be worth 500 billion U.S. dollars according to some estimates.

According to http://www.betsports888.com, the exclusive bookmaker to multi-millionaire and billionaire clients which never turn down a bet no matter how large, sports betting makes up about 13 percent of the global gambling market, which also includes lotteries, casinos, gaming machines, bingo and other gaming. The gross win of the global gambling industry is estimated at more than 400 billion U.S. dollars by H2 Gambling Capital. Gross win from gambling represents the amount of money the gambling operation keeps from the customer's stakes, wagers, bets etc. less the winning paid out to the customer and before deducting operating expenses. With about one third of the global gambling gross win, Asia is the biggest market for gambling and sports betting in particular.

Probably the fastest growing segment of the industry is the online / interactive category. Worldwide gross win from online gambling was at around 30 billion U.S. dollars in 2012 and is projected to reach 38 billion U.S. dollars by 2015. Gross win from online sports betting reached about 15.5 billion U.S. dollars (11.5 billion euros) in 2012. An estimate from several years back projected a gross win of only around 6 billion U.S. dollars. In 2012, sports betting generated more than 50 percent of the total worldwide online gross win.

Sports betting services are provided by companies such as William Hill, Ladbrokes, betsports888.com, bet365, bwin, Paddy Power, betfair, Unibet and many more through their websites and in many cases betting shops. In 2012, William Hill generated around 2 billion U.S. dollars in revenue with about 30 billion U.S. dollars in total being staked / wagered with the company.

SOURCE Betsports888