Sports betting market size to grow by USD 143.73 billion from 2021 to 2026: A descriptive analysis of customer landscape, vendor assessment, and market dynamics – Technavio

NEW YORK, Oct. 26, 2023 /PRNewswire/ — The global sports betting market size is estimated to increase by USD 143.73 billion from 2021 to 2026. The market’s growth momentum will accelerate at a CAGR of 10.68% during the forecast period, according to Technavio – Request a sample report

Global sports betting market – Vendor analysis
Vendor landscape –

The global sports betting market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer sports betting in the market are 888 Holdings Plc, Bet365 Group Ltd., BetOnline, Betsson AB, Caesars Entertainment Inc., Churchill Downs Inc., DraftKings Inc., Entain Plc, Flutter Entertainment Plc, Kindred Group Plc, LeoVegas Gaming Plc, Penn National Gaming Inc., Sportech Plc, SportsBetting.ag., The Betway Group, The Hong Kong Jockey Club, The Palace Group, Webis Holdings Plc, and others.

The global sports betting market is moderately competitive. Factors such as the digital revolution, legalization of sports across different counties, and the growing commercialization of sports will increase the number of new entrants in the market, which is intensifying the competition. The market also faces competition in terms of expenditure on sports betting from the overall consumer discretionary spending on other activities such as online fantasy sports platforms and other entertainment and gaming options. The increasing competition in the global sports betting market and the demand for inorganic innovation have resulted in market consolidation. Many major market vendors are engaging in M&A to grow inorganically and increase their market share. Such consolidations will boost the growth of the market.

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Global sports betting market – Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –

Key purchase criteriaAdoption ratesAdoption lifecycleDrivers of price sensitivity

Global sports betting market – Segmentation assessment

Segment overview
Technavio has segmented the market based on platform (online and offline). 

The online segment will grow at a significant rate during the forecast period. APAC and MEA are expected to provide growth opportunities in this segment, with extensive digitalization and rising smartphone penetration. Factors such as the expansion of the betting market, growing penetration of the Internet and smartphones, structural migration of customers from retail to online, and continuous improvement in the quality of platforms are driving the growth of the online segment.

Geography overview
Based on geography, the global sports betting market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global sports betting market.

APAC will account for 42% of the market’s growth during the forecast period. China and Australia are the key contributors to the sports betting market in the region. Moreover, market growth in this region will be faster than the growth of the market in other regions. The growth of the regional market is attributed to factors such as the increase in demand for online games and fantasy sports platforms.

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Global sports betting market – Market dynamics

Leading drivers – The digital revolution is driving the market’s growth. Cloud platforms are used for storing data, with the increase in number of online transactions and payments. Digitalization has changed the sports betting landscape, and the market has shifted toward online or virtual applications and platforms. Consumers can engage in sports betting and connect with sportsbooks with easy access to the Internet and the availability of various mobile apps and online platforms. Thus, the rapid growth of digital platforms and the increasing Internet penetration will fuel the growth of the market growth during the forecast period.

Key trends – The emergence of machine learning, blockchain, virtual reality, and AI in sports betting is a trend in the market. Vendors are investing in machine learning tools and methods. Machine learning helps build predictive algorithms and accurate predictive models for better betting efficiency. Sports bettors are becoming familiar with new machine learning algorithms that can predict the outcomes of games and races. Thus, the emergence of machine learning will support the sports betting market growth during the forecast period.

Major challenges – Stringent government regulations and restrictions are challenging the sports betting market. Government authorities are regulating sports betting via regulatory acts, legislation, and specific laws. Some countries allow only online betting. In most of the countries in APAC, sports betting is restricted or illegal, which has resulted in monopolies. Thus, strict government regulations are expected to hinder the growth of the global sports betting market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find some insights from a sample report!

What are the key data covered in this sports betting market report?

CAGR of the market during the forecast periodDetailed information on factors that will drive the growth of the sports betting market between 2022 and 2026Precise estimation of the size of the sports betting market and its contribution to the parent marketAccurate predictions about upcoming trends and changes in consumer behaviorGrowth of the sports betting market across APAC, Europe, North America, South America, and Middle East and AfricaA thorough analysis of the market’s competitive landscape and detailed information about vendorsComprehensive analysis of factors that will challenge the growth of sports betting market vendors

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Table of contents

1 Executive Summary

1.1 Market overview Exhibit 01: Executive Summary – Chart on Market OverviewExhibit 02: Executive Summary – Data Table on Market OverviewExhibit 03: Executive Summary – Chart on Global Market CharacteristicsExhibit 04: Executive Summary – Chart on Market by GeographyExhibit 05: Executive Summary – Chart on Market Segmentation by PlatformExhibit 06: Executive Summary – Chart on Incremental GrowthExhibit 07: Executive Summary – Data Table on Incremental GrowthExhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem Exhibit 09: Parent marketExhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition Exhibit 11: Offerings of vendors included in the market definition3.2 Market segment analysis Exhibit 12: Market segments3.3 Market size 20213.4 Market outlook: Forecast for 2021-2026 Exhibit 13: Chart on Global – Market size and forecast 2021-2026 (USD billion)Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 (USD billion)Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary Exhibit 17: Five forces analysis – Comparison between 2021 and 20264.2 Bargaining power of buyers Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 20264.3 Bargaining power of suppliers Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 20264.4 Threat of new entrants Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 20264.5 Threat of substitutes Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 20264.6 Threat of rivalry Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 20264.7 Market condition Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by Platform

5.1 Market segments Exhibit 24: Chart on Platform – Market share 2021-2026 (%)Exhibit 25: Data Table on Platform – Market share 2021-2026 (%)5.2 Comparison by Platform Exhibit 26: Chart on Comparison by PlatformExhibit 27: Data Table on Comparison by Platform5.3 Online – Market size and forecast 2021-2026Exhibit 28: Chart on Online – Market size and forecast 2021-2026 (USD billion)Exhibit 29: Data Table on Online – Market size and forecast 2021-2026 (USD billion)Exhibit 30: Chart on Online – Year-over-year growth 2021-2026 (%)Exhibit 31: Data Table on Online – Year-over-year growth 2021-2026 (%)5.4 Offline – Market size and forecast 2021-2026Exhibit 32: Chart on Offline – Market size and forecast 2021-2026 (USD billion)Exhibit 33: Data Table on Offline – Market size and forecast 2021-2026 (USD billion)Exhibit 34: Chart on Offline – Year-over-year growth 2021-2026 (%)Exhibit 35: Data Table on Offline – Year-over-year growth 2021-2026 (%)5.5 Market opportunity by Platform Exhibit 36: Market opportunity by Platform (USD billion)

6 Customer Landscape

6.1 Customer landscape overview Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation Exhibit 38: Chart on Market share by geography 2021-2026 (%)Exhibit 39: Data Table on Market share by geography 2021-2026 (%)7.2 Geographic comparison Exhibit 40: Chart on Geographic comparisonExhibit 41: Data Table on Geographic comparison7.3 APAC – Market size and forecast 2021-2026Exhibit 42: Chart on APAC – Market size and forecast 2021-2026 (USD billion)Exhibit 43: Data Table on APAC – Market size and forecast 2021-2026 (USD billion)Exhibit 44: Chart on APAC – Year-over-year growth 2021-2026 (%)Exhibit 45: Data Table on APAC – Year-over-year growth 2021-2026 (%)7.4 Europe – Market size and forecast 2021-2026Exhibit 46: Chart on Europe – Market size and forecast 2021-2026 (USD billion)Exhibit 47: Data Table on Europe – Market size and forecast 2021-2026 (USD billion)Exhibit 48: Chart on Europe – Year-over-year growth 2021-2026 (%)Exhibit 49: Data Table on Europe – Year-over-year growth 2021-2026 (%)7.5 North America – Market size and forecast 2021-2026Exhibit 50: Chart on North America – Market size and forecast 2021-2026 (USD billion)Exhibit 51: Data Table on North America – Market size and forecast 2021-2026 (USD billion)Exhibit 52: Chart on North America – Year-over-year growth 2021-2026 (%)Exhibit 53: Data Table on North America – Year-over-year growth 2021-2026 (%)7.6 South America – Market size and forecast 2021-2026Exhibit 54: Chart on South America – Market size and forecast 2021-2026 (USD billion)Exhibit 55: Data Table on South America – Market size and forecast 2021-2026 (USD billion)Exhibit 56: Chart on South America – Year-over-year growth 2021-2026 (%)Exhibit 57: Data Table on South America – Year-over-year growth 2021-2026 (%)7.7 Middle East and Africa – Market size and forecast 2021-2026 Exhibit 58: Chart on Middle East and Africa – Market size and forecast 2021-2026 (USD billion)Exhibit 59: Data Table on Middle East and Africa – Market size and forecast 2021-2026 (USD billion)Exhibit 60: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)Exhibit 61: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)7.8 China – Market size and forecast 2021-2026Exhibit 62: Chart on China – Market size and forecast 2021-2026 (USD billion)Exhibit 63: Data Table on China – Market size and forecast 2021-2026 (USD billion)Exhibit 64: Chart on China – Year-over-year growth 2021-2026 (%)Exhibit 65: Data Table on China – Year-over-year growth 2021-2026 (%)7.9 US – Market size and forecast 2021-2026Exhibit 66: Chart on US – Market size and forecast 2021-2026 (USD billion)Exhibit 67: Data Table on US – Market size and forecast 2021-2026 (USD billion)Exhibit 68: Chart on US – Year-over-year growth 2021-2026 (%)Exhibit 69: Data Table on US – Year-over-year growth 2021-2026 (%)7.10 Germany – Market size and forecast 2021-2026Exhibit 70: Chart on Germany – Market size and forecast 2021-2026 (USD billion)Exhibit 71: Data Table on Germany – Market size and forecast 2021-2026 (USD billion)Exhibit 72: Chart on Germany – Year-over-year growth 2021-2026 (%)Exhibit 73: Data Table on Germany – Year-over-year growth 2021-2026 (%)7.11 Australia – Market size and forecast 2021-2026Exhibit 74: Chart on Australia – Market size and forecast 2021-2026 (USD billion)Exhibit 75: Data Table on Australia – Market size and forecast 2021-2026 (USD billion)Exhibit 76: Chart on Australia – Year-over-year growth 2021-2026 (%)Exhibit 77: Data Table on Australia – Year-over-year growth 2021-2026 (%)7.12 Italy – Market size and forecast 2021-2026Exhibit 78: Chart on Italy – Market size and forecast 2021-2026 (USD billion)Exhibit 79: Data Table on Italy – Market size and forecast 2021-2026 (USD billion)Exhibit 80: Chart on Italy – Year-over-year growth 2021-2026 (%)Exhibit 81: Data Table on Italy – Year-over-year growth 2021-2026 (%)7.13 UK – Market size and forecast 2021-2026Exhibit 82: Chart on UK – Market size and forecast 2021-2026 (USD billion)Exhibit 83: Data Table on UK – Market size and forecast 2021-2026 (USD billion)Exhibit 84: Chart on UK – Year-over-year growth 2021-2026 (%)Exhibit 85: Data Table on UK – Year-over-year growth 2021-2026 (%)7.14 Market opportunity by geography Exhibit 86: Market opportunity by geography (USD billion)

8 Drivers, Challenges, and Trends

8.1 Market drivers8.2 Market challenges8.3 Impact of drivers and challenges Exhibit 87: Impact of drivers and challenges in 2021 and 20268.4 Market trends

9 Vendor Landscape

9.1 Overview9.2 Vendor landscape Exhibit 88: Overview on Criticality of inputs and Factors of differentiation9.3 Landscape disruption Exhibit 89: Overview on factors of disruption9.4 Industry risks Exhibit 90: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered Exhibit 91: Vendors covered10.2 Market positioning of vendors Exhibit 92: Matrix on vendor position and classification10.3 888 Holdings Plc Exhibit 93: 888 Holdings Plc – OverviewExhibit 94: 888 Holdings Plc – Business segmentsExhibit 95: 888 Holdings Plc – Key newsExhibit 96: 888 Holdings Plc – Key offeringsExhibit 97: 888 Holdings Plc – Segment focus10.4 Bet365 Group Ltd. Exhibit 98: Bet365 Group Ltd. – OverviewExhibit 99: Bet365 Group Ltd. – Product / ServiceExhibit 100: Bet365 Group Ltd. – Key offerings10.5 Churchill Downs Inc. Exhibit 101: Churchill Downs Inc. – OverviewExhibit 102: Churchill Downs Inc. – Business segmentsExhibit 103: Churchill Downs Inc. – Key newsExhibit 104: Churchill Downs Inc. – Key offeringsExhibit 105: Churchill Downs Inc. – Segment focus10.6 Entain Plc Exhibit 106: Entain Plc – OverviewExhibit 107: Entain Plc – Business segmentsExhibit 108: Entain Plc – Key newsExhibit 109: Entain Plc – Key offeringsExhibit 110: Entain Plc – Segment focus10.7 Flutter Entertainment Plc Exhibit 111: Flutter Entertainment Plc – OverviewExhibit 112: Flutter Entertainment Plc – Business segmentsExhibit 113: Flutter Entertainment Plc – Key newsExhibit 114: Flutter Entertainment Plc – Key offeringsExhibit 115: Flutter Entertainment Plc – Segment focus10.8 Kindred Group Plc Exhibit 116: Kindred Group Plc – OverviewExhibit 117: Kindred Group Plc – Business segmentsExhibit 118: Kindred Group Plc – Key offeringsExhibit 119: Kindred Group Plc – Segment focus10.9 Sportech Plc Exhibit 120: Sportech Plc – OverviewExhibit 121: Sportech Plc – Product / ServiceExhibit 122: Sportech Plc – Key offerings10.10 The Hong Kong Jockey Club Exhibit 123: The Hong Kong Jockey Club – OverviewExhibit 124: The Hong Kong Jockey Club – Product / ServiceExhibit 125: The Hong Kong Jockey Club – Key offerings10.11 The Palace Group Exhibit 126: The Palace Group – OverviewExhibit 127: The Palace Group – Product / ServiceExhibit 128: The Palace Group – Key offerings10.12 Webis Holdings Plc Exhibit 129: Webis Holdings Plc – OverviewExhibit 130: Webis Holdings Plc – Business segmentsExhibit 131: Webis Holdings Plc – Key offeringsExhibit 132: Webis Holdings Plc – Segment focus

11 Appendix

11.1 Scope of the report11.2 Inclusions and exclusions checklist Exhibit 133: Inclusions checklistExhibit 134: Exclusions checklist11.3 Currency conversion rates for USUSD Exhibit 135: Currency conversion rates for USUSD11.4 Research methodology Exhibit 136: Research methodologyExhibit 137: Validation techniques employed for market sizingExhibit 138: Information sources11.5 List of abbreviations Exhibit 139: List of abbreviations

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