Sports Betting Market Share, Size, Trends, Industry Analysis Report, By Type (Fixed Odds Wagering, Exchange Betting, Live/In-Play Betting, Pari-Mutuel, E-sports Betting, Others), By Platform; By Sports; By Application; By Region; Segment Forecast, 2022 -

Sports Betting Market Share, Size, Trends, Industry Analysis Report, By Type (Fixed Odds Wagering, Exchange Betting, Live/In-Play Betting, Pari-Mutuel, E-sports Betting, Others), By Platform; By Sports; By Application; By Region; Segment Forecast, 2022 - 2030

The global sports betting market size is expected to reach USD 178.68 billion by 2030 according to a new study by Polaris Market Research. The report “Sports Betting Market Share, Size, Trends, Industry Analysis Report, By Type (Fixed Odds Wagering, Exchange Betting, Live/In-Play Betting, Pari-Mutuel, E-sports Betting, Others), By Platform; By Sports; By Application; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Perceptible factors responsible for the market growth include growing digital infrastructure and the prevalence of wireless connectivity. The increasing utilization of smartphones has changed the way consumers perform a variety of activities. There are around 6.3 billion smartphone users worldwide, and this number is growing every year. Moreover, increasing smartphone users will boost the market growth over the forecast years.

For instance, according to the Statista 2020 report, smartphone users have reached six billion worldwide and are expected to increase by several hundred million in the coming years. The countries with the most smartphone users are China, India, and the United States. Thus, it will also increase awareness regarding online betting. Based on the sports segment, football is expected to witness the highest CAGR during the forecast period as the popularity of this game. This is primarily due to the celebrity status of football players.