Sports Betting Market Surge: North America & Europe Lead the Way to USD 190.48 Bn by 2030

Sports Betting Market Poised for Significant Growth

The global sports betting market is experiencing unprecedented expansion, driven by technological advancements, regulatory changes, and increased global interest in sports wagering. In 2023, the market was valued at approximately USD 93.62 billion and is projected to reach nearly USD 190.48 billion by 2030, reflecting a Compound Annual Growth Rate (CAGR) of 10.78% during the forecast period.

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Country-Specific Developments in the Sports Betting Industry

Vietnam: Emerging Opportunities in Sports Betting

Vietnam is witnessing a surge in sports betting activities, attributed to the government's progressive stance on gambling regulations. The recent legalization of sports betting has opened avenues for both local and international operators to establish a presence in the market. Notably, VietBet has announced plans to expand its operations, aiming to capture a significant share of the burgeoning market.

Thailand: Trends in Sports Betting Growth

Despite stringent regulations, Thailand's sports betting market is experiencing growth through underground and online platforms. The popularity of football betting remains high, with platforms like ThaiSportsBet gaining traction among enthusiasts. The government is considering regulatory reforms to curb illegal betting and channel the activities through legal avenues.

Japan: Consolidation in the Sports Betting Sector

Japan's sports betting industry is undergoing consolidation, with major players seeking mergers and acquisitions to strengthen their market positions. Japan Racing Association (JRA) has entered into a strategic partnership with BetJapan, aiming to enhance their combined market share and offer diversified betting options to consumers.

South Korea: Sports Betting Market Updates

South Korea's sports betting market is evolving with technological integrations and regulatory updates. The government has introduced new policies to promote responsible gambling, while operators like SportsToto are leveraging mobile platforms to reach a wider audience. Recent developments include the launch of live betting features, enhancing user engagement.

Singapore: Opportunities in Sports Betting Expansion

Singapore continues to present opportunities in the sports betting sector, with a well-regulated environment attracting international operators. Singapore Pools remains the dominant player, but recent entries by companies like BetSG indicate a competitive landscape. The government's focus on maintaining a controlled yet open market fosters growth prospects.

United States: Booming Sports Betting Industry

The United States has emerged as a significant market for sports betting, especially after the 2018 Supreme Court decision allowing states to legalize the activity. Companies such as FanDuel and DraftKings have capitalized on this opportunity, with Flutter Entertainment, the parent company of FanDuel, projecting its core profit to exceed $5 billion by 2027, driven primarily by the U.S. market.

China: Trends in Sports Betting Growth

China's sports betting market is expanding, with a focus on state-run lotteries. The government's strict regulations have not deterred the growth, as platforms like China Sports Lottery continue to report increasing revenues. The rise of digital platforms has further facilitated access to betting services among the populace.

Austria: Consolidation in the Sports Betting Market

Austria's sports betting sector is witnessing consolidation, with major operators seeking to enhance their market positions. Bet-at-home.com AG has recently acquired Austrian Sports Betting GmbH, aiming to leverage synergies and expand their customer base.

Belgium: Updates in Sports Betting Regulations

Belgium has introduced new regulations to promote responsible gambling and ensure fair play in the sports betting industry. Operators like Unibet Belgium are adapting to these changes by implementing stricter compliance measures and enhancing their platforms to offer a secure betting environment.

Germany: Opportunities in the Sports Betting Landscape

Germany's sports betting market presents significant opportunities following the new State Treaty on Gambling, which legalizes online sports betting nationwide. Companies such as Tipico and Bwin are expanding their offerings to cater to the growing demand, focusing on football betting, which remains highly popular among German bettors.

France: Trends in Sports Betting Growth

France is experiencing a surge in sports betting activities, driven by the popularity of football and tennis. Operators like ParionsSport have reported increased revenues, and the market is expected to continue its upward trajectory with the upcoming major sporting events.

Italy: Consolidation in the Sports Betting Industry

Italy's sports betting sector is undergoing consolidation, with significant mergers and acquisitions shaping the market. Snaitech, a leading operator, has been acquired by Flutter Entertainment, aiming to strengthen its foothold in the Italian market and leverage synergies for growth.

Spain: Updates in Sports Betting Regulations

Spain has implemented new regulations to promote responsible gambling, impacting advertising and promotional activities. Operators like Codere are adjusting their strategies to comply with the new rules while continuing to engage customers through enhanced digital platforms.

United Kingdom: Opportunities in the Sports Betting Market

The United Kingdom remains a mature market for sports betting, with established operators like Bet365 leading the industry. The market presents opportunities for innovation, particularly in the realm of online and mobile betting platforms, as consumer preferences shift towards digital experiences.

Canada: Trends in Sports Betting Growth

Canada's sports betting landscape is evolving following the legalization of single-event sports betting. Operators such as TheScore Bet are expanding their offerings, and the market is poised for growth as provinces establish regulatory frameworks to govern the industry.

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Sports betting trends categorized by platform, game type, and betting type. The data should be segmented as follows:

by Platform

Online

Offline

by Game Type

Football

Baseball

Basketball

Hockey

Cricket

Boxing

Horse racing

Other

by Betting Type

Fixed Odds Wagering

Exchange Betting

Live/In-Play Betting

eSports Betting

Others

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The key companies to be analyzed include:

1. Betson AB 2. Flutter Entertainment PLC 3. DraftKings Co., Ltd. 4. Kindred Group PLC 5. 1XBET 6. 22BET 7. Sports Pesa 8. FORTUNA ENTERTAINMENT GROUP 9. LAS VEGAS SANDS CORPORATION (U.S.), 10. Entain (U.K.), 11. MGM Resorts International 12. Wynn Resorts Holdings LLC. 13. NOVIBET (Greece) 14. Galaxy Entertainment Group Limited 15. Resorts World at Sentosa Pte. Ltd. 16. Sun International 17. RTSmunity a.s. 18. Sky Infotech 19. Peermont Global Proprietary Limited 20. SJM Holdings Limited 21. Sportradar AG 22. FanUp Inc. 23. Rivalry Ltd. 24. EveryMatrix 25. Kairos Group

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