Dublin, Aug. 31, 2020 (GLOBE NEWSWIRE) -- The 'Sports Betting Market - Forecasts from 2020 to 2025' report has been added to ResearchAndMarkets.com's offering.
The sports betting market was valued at US$85.047 billion in 2019.
The sports betting market is projected to witness considerable growth primarily on account of the inclination of the governments of numerous countries towards the legalization of sports betting. Furthermore, the rising penetration of various legal online platforms in some countries is also further supplementing the sports betting market growth in the near future.
The market is also poised to grow on account of the rising popularity of international sports events around the globe coupled with the increasing popularity of high-end sports such as cricket, soccer, baseball has gained a lot of traction in the past years, which has led to a decent increase in the sponsorships for clubs, teams, players.
Additionally, the rising investments by numerous sports organizations in marketing and promotional activities have led to increased investments by major betting companies in providing sponsorships for sports teams around the globe. Thus, the rising commercialization of sports events is considered to be a key factor that is expected to positively impact the market growth during the next five years.
The rising consumer expectations have led to the constant participation of key players of the market in the form of partnerships, collaborations, agreements, and R&D for the launch of various platforms to cater to the rising consumer expectations. For instance, recently in June 2020, Sportech PLC a leading market player in the gaming technology industry of the world announced its strategic partnership with a French gaming operator ZeTurf, the aim of this partnership was to deliver attractive and alternative options for betting on French racing.
Similarly, in May 2020, the company announced a successful launch of Tote Betting services in Moscow for client Pari Engineering Rus. Furthermore, the growing partnerships between high end-resorts and casinos with leading market players for availing their services also shows the potential for the market to grow in the near future.
For example, in February 2020, William Hill, a leading sports betting company entered into a long-term partnership agreement with the Grand Traverse Band of Ottawa and Chippewa Indians (GTB), a federally recognized Indian tribe for exclusively providing online sports betting and online casino gaming throughout Michigan. Also, during the same month, the company also entered into a partnership with CBS Sports with an aim to increase the reach to millions of new sports fans and fantasy players by extending its leadership in sports betting content.
Moreover, in February 2019, Churchill Downs Incorporated entered into a partnership agreement with Golden Nugget Casino for the launch of its BetaAmerica online real-money sports betting and online casino platform in New Jersey.
However, the sports betting market may be restrained by the fact that still sports betting is considered to be an illegal activity in some parts of the world. Also, the recent outbreak of the novel coronavirus is expected to be a major factor inhibiting the market growth during the short run as the intense outbreak has led to enforcement of directives by the WHO such as social distancing and quarantine measure in almost every country of the world.
This has led to the temporary suspension or cancellation of all the major sports events at international, regional, and national levels that include, football, hockey, marathons, cricket, basketball, and more. This is considered to be one of the prime factors that is projected to hamper the market growth for the next ten to eleven months.
Growing legalization is offering lucrative opportunities
One of the major factors that is propelling the market growth opportunities is the rising government initiatives for the legalization of sports betting with an aim for the generation of revenue. For instance, in 2018 sports betting for the first time was legalized in New Jersey. Furthermore, the inclination of governments of various developing countries such as India and Brazil among others to tap the potential of revenue that the sports betting industry holds is considered to be a prime opportunity for the market to grow in the near future. For example, in 2018, the Law Commission of India stated in its report the recommendations for legalizing sports betting in the country.
The global sports betting market has been segmented on the basis of platform, sport, and geography. By platform the segmentation of the market has been done on the basis of online and offline. By sport the market has been classified into cricket, FIFA, horse racing, and others. Geographically, the segmentation of the sports betting market has been done into North America, South America, Europe, Middle East and Africa, and Asia Pacific.
Online segment to witness a decent growth
By platform, the online segment is projected to witness a healthy growth during the next five years. The rapid internet and smartphone penetration coupled with the launch of new online betting platforms are some of the key factors bolstering the growth of this segment throughout the forecast period.
Europe to hold a notable share
Geographically, the European region is anticipated to hold a substantial share in the market throughout the forecast period primarily on account of the legalization of betting in several European countries. Also, investments by players in countries of this region for expansion of services further supplement the market growth in Europe during the next five years.
Competitive Insights
Prominent key market players in the Sports Betting market the 888 Group, Kindered Group plc, Wiliam Hill PLC, and Churchill Downs Incorporated among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the Sports Betting market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.
Key Topics Covered
1. Introduction
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Sports Betting Market Analysis, By Platform
5.1. Introduction
5.2. Online
5.3. Offline
6. Sports Betting Market Analysis, By Sport
6.1. Introduction
6.2. Cricket
6.3. FIFA
6.4. Horse Racing
6.5. Others
7. Sports Betting Market Analysis, By Geography
7.1. Introduction
7.2. North America
7.3. South America
7.4. Europe
7.5. Middle East & Africa
7.6. Asia-Pacific
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. the 888 Group
9.2. Kindred Group plc
9.3. William Hill plc
9.4. Churchill Downs Incorporated
9.5. Sportech plc
9.6. The Stars Group Inc.
9.7. Webis Holdings plc
9.8. Flutter Entertainment plc
For more information about this report visit https://www.researchandmarkets.com/r/lkiuog
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
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. Betting makes up about 30 to 40.
- Read More: According to Transparency Market Research's latest market report on the sports betting market for the historical period of 2017-2018 and forecast period of 2019-2027, the rise in wagering for sports from online platforms by end users is expected to boost the growth of the global sports betting market during the forecast period.
- The first of likely several sports betting bills in Maryland was filed early in the 2021 legislative session. While the electorate voted to legalize the act last November, the ballot initiative.
Sports Betting Online
BOSTON and NEW YORK – The National Basketball Association (NBA) and DraftKings Inc. today announced a multiyear partnership that will make DraftKings an Authorized Sports Betting Operator of the league.
Beginning with the current 2019-20 NBA season, DraftKings will have access to official NBA betting data and league marks across its mobile platform and in its sportsbooks throughout the United States.
Automated roulette machine. 'NBA games are among the most captivating, dramatic and widely-consumed sports entertainment products globally, and the advocacy of the league around legal sports betting further demonstrates its consistent foresight to innovate for the betterment of the fan experience,' said Ezra Kucharz, chief business officer at DraftKings. 'The correlation between sports betting and fan engagement is proven, and we look forward to the opportunities that being an Authorized Gaming Operator of the NBA will unlock for consumers.'
'We are excited to team with DraftKings, who has established itself as one of the leaders in the sports betting landscape in the U.S. and has a passionate NBA following,' said Scott Kaufman-Ross, Senior Vice President, Head of Fantasy & Gaming, NBA. 'Our partnership will provide our fans with an authentic and enhanced gaming experience and help us further protect the integrity of our games.'
During the partnership, the NBA and DraftKings will work together on best-in-class practices to protect the integrity of NBA games.
Overall, the partnership positions DraftKings to further refine its NBA category, a sport that currently ranks among the most popular offerings for its customers. Live betting, a critical component of sports betting technology and the future of the industry, is more prevalent on DraftKings Sportsbook for the NBA than any other sport—over 70 percent of NBA bettors have live-wagered, while nearly 45 percent of NBA handle has come from in-play bets.
All DraftKings Sportsbook offerings, including the NBA, are available on the mobile app that is downloadable for both iOS and Android.
About the NBA
The NBA is a global sports and media business built around four professional sports leagues: the National Basketball Association, the Women's National Basketball Association, the NBA G League and the NBA 2K League. The NBA has established a major international presence with games and programming in 215 countries and territories in nearly 50 languages, and merchandise for sale in more than 100,000 stores in 100 countries on six continents. NBA rosters at the start of the 2019-20 season featured 108 international players from 38 countries and territories. NBA Digital's assets include NBA TV, NBA.com, the NBA App and NBA League Pass. The NBA has created one of the largest social media communities in the world, with 1.6 billion likes and followers globally across all league, team, and player platforms. Through NBA Cares, the league addresses important social issues by working with internationally recognized youth-serving organizations that support education, youth and family development, and health-related causes.
Legal Betting Sites In Usa
Global Sports Betting Jhb
About DraftKings
DraftKings is a premier, U.S.-based sports technology and entertainment company created to fuel the competitive spirits of sports fans with offerings that range across daily fantasy, regulated gaming, and digital media. Founded in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings' daily fantasy product boasts over 11 million registered players and is available in 8 countries internationally with 15 distinct sport categories. Launched in 2018, DraftKings Sportsbook offers mobile and retail betting for major national and global sports, and currently operates pursuant to state regulations in Indiana, Iowa, Mississippi, New Jersey, New York and West Virginia. DraftKings is the Official Daily Fantasy Partner of the NFL and PGA Tour as well as an Authorized Gaming Operator of the MLB, NBA, and NFL. Headquartered in Boston, DraftKings holds offices across the country including Las Vegas, New Jersey, New York, and San Francisco.
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. Betting makes up about 30 to 40.
- Read More: According to Transparency Market Research's latest market report on the sports betting market for the historical period of 2017-2018 and forecast period of 2019-2027, the rise in wagering for sports from online platforms by end users is expected to boost the growth of the global sports betting market during the forecast period.
- The first of likely several sports betting bills in Maryland was filed early in the 2021 legislative session. While the electorate voted to legalize the act last November, the ballot initiative.
Sports Betting Online
BOSTON and NEW YORK – The National Basketball Association (NBA) and DraftKings Inc. today announced a multiyear partnership that will make DraftKings an Authorized Sports Betting Operator of the league.
Beginning with the current 2019-20 NBA season, DraftKings will have access to official NBA betting data and league marks across its mobile platform and in its sportsbooks throughout the United States.
Automated roulette machine. 'NBA games are among the most captivating, dramatic and widely-consumed sports entertainment products globally, and the advocacy of the league around legal sports betting further demonstrates its consistent foresight to innovate for the betterment of the fan experience,' said Ezra Kucharz, chief business officer at DraftKings. 'The correlation between sports betting and fan engagement is proven, and we look forward to the opportunities that being an Authorized Gaming Operator of the NBA will unlock for consumers.'
'We are excited to team with DraftKings, who has established itself as one of the leaders in the sports betting landscape in the U.S. and has a passionate NBA following,' said Scott Kaufman-Ross, Senior Vice President, Head of Fantasy & Gaming, NBA. 'Our partnership will provide our fans with an authentic and enhanced gaming experience and help us further protect the integrity of our games.'
During the partnership, the NBA and DraftKings will work together on best-in-class practices to protect the integrity of NBA games.
Overall, the partnership positions DraftKings to further refine its NBA category, a sport that currently ranks among the most popular offerings for its customers. Live betting, a critical component of sports betting technology and the future of the industry, is more prevalent on DraftKings Sportsbook for the NBA than any other sport—over 70 percent of NBA bettors have live-wagered, while nearly 45 percent of NBA handle has come from in-play bets.
All DraftKings Sportsbook offerings, including the NBA, are available on the mobile app that is downloadable for both iOS and Android.
About the NBA
The NBA is a global sports and media business built around four professional sports leagues: the National Basketball Association, the Women's National Basketball Association, the NBA G League and the NBA 2K League. The NBA has established a major international presence with games and programming in 215 countries and territories in nearly 50 languages, and merchandise for sale in more than 100,000 stores in 100 countries on six continents. NBA rosters at the start of the 2019-20 season featured 108 international players from 38 countries and territories. NBA Digital's assets include NBA TV, NBA.com, the NBA App and NBA League Pass. The NBA has created one of the largest social media communities in the world, with 1.6 billion likes and followers globally across all league, team, and player platforms. Through NBA Cares, the league addresses important social issues by working with internationally recognized youth-serving organizations that support education, youth and family development, and health-related causes.
Legal Betting Sites In Usa
Global Sports Betting Jhb
About DraftKings
DraftKings is a premier, U.S.-based sports technology and entertainment company created to fuel the competitive spirits of sports fans with offerings that range across daily fantasy, regulated gaming, and digital media. Founded in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings' daily fantasy product boasts over 11 million registered players and is available in 8 countries internationally with 15 distinct sport categories. Launched in 2018, DraftKings Sportsbook offers mobile and retail betting for major national and global sports, and currently operates pursuant to state regulations in Indiana, Iowa, Mississippi, New Jersey, New York and West Virginia. DraftKings is the Official Daily Fantasy Partner of the NFL and PGA Tour as well as an Authorized Gaming Operator of the MLB, NBA, and NFL. Headquartered in Boston, DraftKings holds offices across the country including Las Vegas, New Jersey, New York, and San Francisco.
