Strategic Intelligence: Sports Betting 2024

Strategic Intelligence: Sports Betting 2024

Summary

An analysis of sports betting provides a detailed, yet easy to follow overview of the sports betting sector, including a look at the key leaders of the sports betting value chain.

Online sports betting platforms are on the rise. Sports betting is a popular form of gambling that involves wagering on sports. The evolution of sports betting has been a dynamic process over many years, which has been influenced by changes in technology, regulation and social attitudes. Technology has significantly impacted the gambling and sports betting space, making it far more accessible with smartphones, mobiles devices and betting apps become far more common place. These developments have allowed fans to engage with gambling at a much higher rate, leading to widespread adoption. Mobile apps have allowed users to place bets from anywhere at any time and often included features like live streaming and in-play betting. Bettors are now able to track live statistics, game progress, and odds through mobile devices. Additionally, innovations like ai-driven analytics, predictive algorithms and data analysis tools allows bettors to make more informed decisions.

The sports betting industry has boomed over recent years. Major changes in legislation, with the legislation of sports betting in the US, has fuelled a betting boom across most of the country. Following the US Supreme Court’s decision to overturn the Professional and Amateur Sports Protection Act (PASPA) in 2018, which essentially ruled that the ban on sports betting conflicted with the Tenth Amendment. Since this decision, gambling has been legalized in 39 states. This has led to significant growth in the sports betting market, with more fans actively participating in sports through betting. Also, in the Premier League, with the incoming ban on gambling companies from front-of-shirt sponsorship in 2026-27, gambling and betting brands are still eager to engage in shirt partnerships with Premier League club teams while they still can.

Illegal activities related to sports betting on the rise, particularly in the US. Over the past two years dozens of professional and collegiate athletes and coaches have been suspended or fired for gambling violations. Just this year, the National Basketball Association (NBA) banned Jontay Porter for life after discovering Porter had violated the leagues rules by disclosing confidential information to sports bettors. Whilst these gambling violations are taking place, the underground betting market which has existed in the US since sports have existed continues to soar, with unlicensed bookmakers offering credit and attracting some high-profile clientele who might be hoping for more anonymity.

Sports betting compromises the integrity of sports. Sports betting can result in match-fixing and corruption, this undermines the fairness and competitiveness of the matches. When money is involved in sports, there is always a risk that players coaches, or officials could be tempted to manipulate the outcome of a game in order to win money; this has been evident particularly in the US. It is not just professional sport, which is under threat, college sports in the US are also under the microscope.

Scope

• This report provides an overview of the sports betting sector, including the key leaders, a look at some of key trends, an analysis of the industry in terms of market size and growth forecasts, and also in-depth analysis of the media piracy in sport value chain and its key players.

Reasons to Buy

• For those wanting an in-depth analysis of the sports betting sector, in the sense of both business and popularity.