A new report was recently published about the online sports betting market globally, with some interesting insights about what we can expect over the next several years both globally and here in America. Compiled by the UnivDatos Markets Insights group, they have determined an average annual growth rate of more than 10% from now through the year 2027.This is, of course, barring any unforeseen events.
Their analysis was broken down into types of games that players bet on, such as Football, Basketball, Hockey, and such. But also included more international games like Cricket, and emerging markets like Cybersports. The report also looked at types of devices used to make bets, such as desktops and laptop computers, tablets, and of course mobile devices. Lastly, they broke data down into regions and countries.
The growing number of online sports betting events is in part due to growing bettor interest, a growing number of sports enthusiasts, sports sponsorship, and of course the emergence of new markets like the United States. Sponsorship have been increasing for the last several years.Then there is the growth of sporting events available online, as gamblers now have greater access to online sports betting platforms.
Europe has traditionally dominated the global online sports betting market. After all, some of the largest and most viewed sports events in the world are the Tour de France, World Cup of Soccer, and the Cricket World Cup. But that doesn’t mean the US market can’t catch them. After all, sports betting revenue was just over $2 billion last year. Now, the industry is expected to be worth over $10 billion by 2028, with much of that business online.
Those are great numbers, but still a relative drop in the bucket for global wagers placed on sporting events and online sports betting in general. In fact, estimations for the global market are projected to be over $160 billion by the time the American market is hitting $10 billion. That is huge for such a young market with just a few years under it’s belt, but still no where near what’s possible.