United States Sports Betting Market Growth, Demand, Share, Trends And Forecast 2023-20288 November 2023
The latest report by IMARC Group, titled “United States Sports Betting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. offers a comprehensive analysis of the industry, which comprises insights on the United States sports betting market growth. The market size reached US$ 7.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 15.9 Billion by 2028, exhibiting a growth rate (CAGR) of 13.2% during 2023-2028.
Sports betting is a form of gambling where individuals place wagers on the outcomes of sporting events. It involves predicting the results of various sports, such as football, basketball, and horse racing. Sportsbooks, either physical locations or online platforms, facilitate these bets and offer odds that reflect the perceived likelihood of specific outcomes. Bets can range from simple ones like predicting the winner of a game to more complex propositions involving point spreads or over/under totals. In recent years, sports betting has gained immense traction as entertainment and a multi-billion-dollar industry, attracting enthusiasts and professional gamblers across the United States while raising ethical and regulatory considerations.
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United States Sports Betting Market Trends and Drivers:
The United States sports betting market is primarily driven by the rapid expansion of legalized sports betting in multiple states due to changing regulations. Moreover, the widespread popularity of sports and the integration of online and mobile betting platforms that make it more convenient for individuals to participate is positively influencing market growth. Apart from this, the rising partnerships between sports leagues, teams, and betting operators that enhance the overall sports betting experience are propelling market growth. Additionally, the increasing acceptance of sports betting as entertainment and the potential for revenue generation has catalyzed market growth. Furthermore, numerous technological advancements in data analytics and in-game betting options that enhance the overall sports betting experience are contributing to market growth.
The report has segmented the market into the following categories:
Breakup by Platform:
Breakup by Betting Type:
- Fixed Odds Wagering
- Exchange Betting
- Live/In Play Betting
- eSports Betting
Breakup by Sports Type:
- Horse Racing
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- The competitive landscape of the industry has also been examined along with the profiles of the key players
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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