Global Online Sports Betting Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global Online Sports Betting Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global Online Sports Betting market is growing by registering a CAGR of 10.1% during the forecast period (2019-2024).

Key Highlights

• Online sports betting is predominantly applied in events, such as FIFA World Cup and European Championships. Online betting is also popular in horse racing and tennis.
• Many of the online sports betting companies are sponsoring different teams as a part of their marketing initiatives and strategic expansions.
• For the 2018 World Cup, the Gaming Innovation Group (GIG) launched an advanced and innovative platform for sports betting. The product integrated platform services that are super responsive, flexible, and data-driven will help operators perform better than their competitors by crafting the best user experience possible.

Key Market TrendsOnline Gambling: Gaining Popularity

Due to the increasing global popularity of both sports betting and football as a sport, the football segment of the global online sports betting market records a high betting volume, with a growing number of bets, especially from European countries such as Italy and Spain, where football enjoys high popularity. Nowadays the vast majority of football bets are placed online, attributed to the significant changes in the products and various betting markets that bookmakers offer. It has become very common that there will more than 100 different betting markets for any football match. In 1997 Intertops made the breakthrough in online football betting, by offering fixed odds on their website, and ever since then, a rising number of market players have emerged to tap the market opportunity posed.

Europe Emerged as the Largest Market

The market records a high demand from European betting consumers, who bet across multiple leagues, pre-match and in-play. The market generates a major portion of its revenue from the United Kingdom, Spain, Germany and other European countries as most companies are using expansion into regulated markets as their strategy to generate sustainable revenues. As the online sports betting is predominantly applied in events, such as FIFA World Cup and European Championships, Europe’s online sports betting market posted significant growth in the last few years, due to the 2018 FIFA World Cup. Tennis emerged as one of Europe’s biggest betting sports in 2018, despite Wimbledon occurring at the same time as the FIFA World Cup, which indicates the growing popularity of online sport betting across the European region.

Competitive Landscape

The market studied is characterized by intense competition due to the strong presence of regional and global players. Key players compete on various factors, including offerings, user experience, brand equity, personalized payoffs, as well as access to various platforms. The dominating players have been focusing on mergers over the past few years, primarily to increase their stake in the market and to improve profit margins. For instance, Paddy power Plc and Bet fair Plc merged to form Paddy Power Betfair Plc. Similarly, Ladbrokes and Coral formed Ladbrokes Coral Group Plc post completion of their merger.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Betsson AB
888 holdings PLC
GVC Holdings PLC
Kindered group PLC
Paddy Power Betfair PLC
Cherry AB
William Hill PLC
The Stars Group
BET 365

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