Surging internet penetration, adoption of smartphones and smart devices
coupled with favorable government regulation are some of the key factors
contributing to the growth of the internet sports betting market. Supreme Court
struck down a federal ban on sports betting in 2018, any state can choose
to legalize it. To date, 25 states and Washington, D.C. have already
done so, and many will profit from the newly legal industry. In the UK, there
have been growing calls for this kind of mandatory industry tax to
pay for gambling addiction treatment.
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Moreover, escalating disposable income in regions such as Asia and Europe
are also adding pace to the growth of the market. One-third of the global
gambling gross win comes from Asia. Moreover, the Growing popularity of
several sports such as football,
cricket, snooker, etc., across the globe
is also contributing to the market growth., As per Forbes. Sports bettors have
higher rates of gambling problems than other gamblers (at least twice as high),
and gambling problems increase with online betting, 45% of sports betting now
takes place online; this is problematic because online gambling is available
any time, providing more convenience and privacy. Young people have higher
rates of gambling problems than adults; 75% of students gambled, according to
data from 2018.
According to UnivDatos Market Insights (UMI)’
research report “Global Internet Sports Betting Market
Analysis, 2020”, the introduction
of machine learning in sports betting is adding pace to the market growth. The
growing effect of technologies like blockchain, virtual reality, and AI,
particularly machine learning tools, is one of the important developments in
the global sports betting business. New machine learning algorithms that seek
to anticipate the outcomes of games and races are expected to become
increasingly familiar with sports gamblers. Thus, the emergence of machine
learning will be a positive trend for the global sports betting market during
the forecast period.
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As per a report by the gambling commission, A total of £14.4bn was lost
by people betting in the UK from April 2017 to March 2018, an increase from
£13.8bn the previous year. Of that total, £5.3bn was lost gambling online, a
12.8% increase on the previous year.
Based on
the game type, The growing
popularity of football games especially in European countries is leading to the
growth of the segment. As per research conducted by the University of Bath,
some young men said they can no longer watch a football match unless they have
multiple bets; commonly they have up to 25 accounts with online gambling
companies, and their football conversations with mates are all about betting,
rather than the game.
Based on the device type, The offers and bonuses
given by the companies are also leading to the growth of the market. The Hard
Rock Sportsbook app currently running a promotion where you receive a risk-free
bet of up to US$100 with your first deposit.
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Europe to Grab Lion’s Share, But the Asia Pacific to
witness Explicit Growth
Based on the Region, the Europe region dominated the global Internet
Sports Betting market in 2020. Surging disposable income and surging interest
of end-users in sports in the countries such as the U.K, France, Germany, etc.,
are leading to the growth of the region. However, Asia-Pacific would witness a
robust CAGR in the forthcoming years stated in UnivDatos Market
Insights (UMI)’ research report
“Global Internet Sports
Betting Market Analysis, 2020”.
According to UnivDatos Market Insights (UMI)’, the key
players with a considerable market share in the global Internet
Sports Betting Market are Cyber Bet, Betway Group, Flutter Entertainment,
Fortuna Entertainment Group, William Hill Limited, Unikrn Inc., Unibet, Kindred
Group, Entain Plc., 888 Holdings Plc, etc., The players are focused on
launching new products for gaining customers' traction and expanding their
geographical reach to get a competitive edge in the industry.
“Global
Internet
Sports Betting Market
Analysis, 2020” provides
comprehensive qualitative and quantitative insights on the industry potential,
key factors impacting sales and purchase decisions, hotspots, and opportunities
available for the Internet Sports Betting Market across the Globe. Moreover,
the report also encompasses the key strategic imperatives for success for
competitors along with strategic factorial indexing measuring competitors'
capabilities on 16 parameters. This will help companies in the formulation of
Go to Market Strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
1. By Game
Type (Cybersports, Football, Basketball, Hockey, Cricket, Others)
2. By Device
Type (Desktops & Laptop, Tablets & Mobile)
3.
By Region (North America,
Europe, Asia-Pacific, Rest of the World)
4. By Company (Cyber
Bet, Betway Group, Flutter Entertainment, Fortuna Entertainment Group, William
Hill Limited, Unikrn Inc., Unibet, Kindred Group, Entain Plc., 888 Holdings
Plc. )
Key
questions answered in the study:
1.
What are the current and future trends
of the global Internet Sports Betting market industry?
2.
How the industry has been evolving in
terms of end-user demand and application areas?
3.
How the competition has been shaping
across the countries followed by their comparative factorial indexing?
4.
What are the key growth drivers and
challenges for the Internet Sports Betting market industry?
5.
What are the customer orientation,
purchase behavior, and expectations from the Internet Sports Betting market firms
across various regions?
Table of Content –
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 GLOBAL INTERNET SPORTS BETTING COVID-19 IMPACT
6 GLOBAL INTERNET SPORTS BETTING REVENUE, 2019-2027F
7 MARKET INSIGHTS BY GAME TYPE
8 MARKET INSIGHTS BY DEVICE TYPE
9 MARKET INSIGHTS BY REGION
10 INTERNET SPORTS BETTING DYNAMICS
11 INTERNET SPORTS BETTING OPPORTUNITIES
12 INTERNET SPORTS BETTING TRENDS
13 LEGAL & REGULATORY FRAMEWORK
14 DEMAND AND SUPPLY SIDE ANALYSIS
15 VALUE CHAIN ANALYSIS
16 COMPETITIVE SCENARIO
17 COMPANY PROFILED
18 DISCLAIMER
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