Global Sports Betting Market 2018-2022 | Popularity of Virtual Sports Betting to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 26, 2019--
The global sports betting market is expected to post a CAGR of nearly 9% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global sports betting market 2018-2022. (Graphic: Business Wire)
With the emergence and high penetration of the digital platform, punters have the flexibility to place bets on sports, from any part of the world. Internet gambling is one of the fastest growing sectors of the e-commerce industry. Gamblers have more confidence as the entire process is digitalized, and the chances of error and fraud are low. Digital revolution also offers anonymity to gamblers. Therefore, the emergence of the digital revolution and its high usage in the sports industry will drive the revenue generation in the sports betting industry, which will boost market growth during the forecast period.
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As per Technavio, the popularity of virtual sports betting, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Sports Betting Market: Popularity of Virtual Sports Betting
The rising fascination of online and sports video games encourages bookmakers to opt for virtual sport betting. On top of that, virtual betting is non-biased as it picks the outcome from a computer algorithm. It is also equipped with highly advanced and innovative graphics that attract players. The high-quality videos of matches and events offer expansive opportunities for punters in the online betting platforms market. These factors will propel the global sports betting market growth during the forecast period of 2019-2023.
“The usage of betting tools and the legalization of sports betting are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Sports Betting Market: Segmentation Analysis
This market research report segments the global sports betting market by platform (online sports betting and offline sports betting) and geographical regions (Americas, APAC, and EMEA).
The Americas region led the market share in 2018, followed by EMEA and APAC respectively. During the forecast period, the Americas region is expected to maintain its dominance over the global market. This is due the growing popularity of sports betting and increasing number of initiatives taken to legalize it.
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PUB: 11/26/2019 04:30 PM/DISC: 11/26/2019 04:30 PM