By 2026, The Sports Betting Market Is Expected To Reach $144 Billion - Adoption Of 5G Technology Is A Major Driver

The global sports betting market size is expected to grow from $89.65 billion in 2021 to $99.20 billion in 2022 at a compound annual growth rate (CAGR) of 10.64%. The global sports betting market share is expected to reach $144.34 billion in 2026 at a CAGR of 9.83%.

Request a free sample of the Sports Betting Market Report

Adoption Of Augmented And Virtual Reality – A Popular Trend

The adoption of augmented and virtual reality is a popular sports betting industry trends. Augmented and virtual reality help in designing an entirely new environment and a new reality for the players. In July 2021, XR Casino, a Puerto Rico-based gaming solutions company, introduced its first ever cross-technology multiplayer online gambling platform using extended reality, including augmented reality and mixed reality. The new mixed reality platform will allow players to play XR casino games with each other using different devices. It also plans to introduce additional casino games and sports betting to the platform.

Asia Pacific Was The Largest Region In The Market In 2021

Asia-Pacific was the largest region in the sports betting market and was worth $21,879.5 million in 2021. The market accounted for 0.065% of the region's GDP. In terms of per capita consumption, the market accounted for $5.1, $2.4 lower than the global average. The sports betting market in Asia Pacific is supported by rapid urbanization that encourages the use of computers and laptops and favorable government policies. For example, in 2020, the urban population in India was reported at 34.93% of the total population, according to the World Bank's collection of development indicators.

Flutter Entertainment Was The Largest Competitor With A 7.37% Market Share

Flutter Entertainment plc was the largest competitor in the sports betting market in 2021, with a 7.37% share of the market. The company operates a portfolio of sports betting and gaming brands such as Paddy Power, Adjarabet, Betfair, TVG, Sportsbet, and FanDuel. Flutter's growth strategy focuses on expanding its recreational customer base through strategic acquisitions to meet the demand of the growing online sports betting market size. For instance, in December 2021, the company acquired Sisal, an Italy-based online betting, lottery, and gaming company, for USD 1.96 billion (EUR 1.913 billion). Through this acquisition, Flutter aims to increase its presence in the fast-growing, regulated, and attractive online gaming and gambling market.

See more on the Sports Betting Market Report

Check out similar market reports:

Sports Global Market Report 2022 – By Type (Spectator Sports, Participatory Sports), By Revenue Source (Media Rights, Merchandising, Tickets, Sponsorship), By Ownership (Chained, Standalone) – Market Size, Trends, And Global Forecast 2022-2026

E-Sports Global Market Report 2022– By Game (Multiplayer Online Battle Arena (MOBA), Real Time Strategy, First Person Shooter, Fighting And Sports), By Platform (PC, Console, Mobile), By Revenue Source (Sponsorship, Advertising, Merchandise & Tickets, Publisher Fees, Media Rights) – Market Size, Trends, And Global Forecast 2022-2026

Gambling Global Market Report 2022 – By Type (Casino, Lotteries, Sports Betting, Other Gambling), By Channel Type (Offline, Online, Virtual Reality(VR)), By End-User (Gambling Enthusiasts, Social Exuberant, Others) – Market Size, Trends, And Global Forecast 2022-2026

Interested to know more about The Business Research Company?

The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally, it has strategy enablement specialists in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.

The World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.

Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: [email protected]
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: http://blog.tbrc.info/

Logo: https://mma.prnewswire.com/media/1751581/tbrc_logo.jpg