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 Post subject: online sports betting market
PostPosted: Wed Aug 18, 2021 2:31 pm 
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Associated Press.
Associated Press.
At an investors event sponsored by Morgan Stanley, executives from MGM Resorts, Hard Rock and Mohegan Sun predicted around $8 billion in revenue by 2025.
NEW YORK (AP) — Investors and sports betting companies are running up the score when it comes to sports betting, predicting the fast-growing industry will be a $7 billion to $8 billion business in the U.S. within five years.
But not all the many companies flocking to get in on the ground floor will make it, they predict.
Panelists at the NYC Sports Betting Investor Summit said Monday that the industry is growing quickly in this country a year and a half after New Jersey won a U.S. Supreme Court ruling clearing the way for all 50 states to offer legal sports betting.
So far, 14 do, and many others are considering joining the market.
Investment firm Morgan Stanley predicts the U.S. market will generate almost $7 billion in revenue by 2025, up from $833 million this year. That’s up from an estimate of $5 billion the company had issued less than a year ago.
That amount would represent less than 20% of the $41.7 billion won by commercial casinos in the U.S. in 2018. Still, it represents a substantial new revenue stream that, for legal operators, did not exist a year and a half ago.
At the investors event sponsored by Morgan Stanley, executives from MGM Resorts, Hard Rock and Mohegan Sun all issued similar predictions in the $6 billion to $8 billion range. And the research firm Eilers & Krejcik Gaming, which tracks sports betting regulation and revenue, said those figures are “very close” to its own estimates of future market size.
Participants at the forum cautioned that while the industry is growing quickly, the high cost of acquiring customers and promoting a new business could lead to some current operators failing.
“It’s war out there,” said Seth Young, chief information officer for PointsBet. “At the end of the day there’s going to be a lot of carcasses out there on the road.”
“It is a growing market here in terms of revenue but it’s a very tough market,” added Scott Butera, president of interacting gaming for MGM Resorts International.” Everybody wants to be here Ultimately I think we’ll see some shaking out.”
Nonetheless, Butera said he believes U.S. sports betting will exceed even the increased figures cited at Monday’s forum.
“I’ll take the over on $8 billion,” he said.
Morgan Stanley gave a high-end bullish estimate that sports betting could generate $15 billion in revenue by 2025 if every state in the nation has legalized it by then. Its worst-case estimate is a $2.5 billion market with only 22 states participating.
Panelists predicted as many as 10 new operators may soon join the market.
Operators continue to spend heavily to attract new customers, who in turn still must jump through several hurdles to deposit funds in their accounts as many major credit cards will not finance gambling transactions. Kresmir Spajic, senior vice president of online gaming and sports betting for Hard Rock International, said 80% of sports betting transactions in Europe are financed using credit cards, compared with about 30% in the U.S.
Even as the conference was underway, numerous sports betting transactions and partnerships were being announced around the country.
The National Basketball Association and DraftKings announced a multiyear partnership that will make DraftKings an authorized sports betting operator of the league. And BetIndiana and Sportradar, the provider of sports data and content, inked a partnership to bring Sportradar’s real-time sports data and managed trading services to BetIndiana’s mobile sportsbook.


Online Gambling Market Size, Share & Trends Analysis Report By Type (Sports Betting, Casinos, Poker, Bingo), By Device (Desktop, Mobile), By Region (North America, Europe, APAC, Latin America, MEA), And Segment Forecasts, 2020 - 2027.
Report Summary Table of Contents Segmentation Methodology Request a Free Sample Copy.
Report Overview.
The global online gambling market size was valued at USD 53.7 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2027. The high internet penetration and increasing use of mobile phones among individuals for playing online games from their homes and public places are driving the market. In addition, factors such as easy access to online gambling, legalization and cultural approval, corporate sponsorships, and celebrity endorsements are also contributing to market growth. The growing availability of cost-effective mobile applications across the globe is further expected to fuel market growth.
The internet has become a global platform for communication and enables merchants to offer their services in the digital market space. Trends also suggest that the consumption of services in the global virtual market has increased by 28.0 percent annually since the last decade. With the growing use of the internet, the growth rate of online casinos has increased significantly. In addition, growing awareness of the latest technologies and increasing disposable income of individuals are expected to propel market growth.
Developments in the online space are parallel to the annual growth of internet casinos. These developments are made to achieve the desired credibility in the gambling zone. Therefore, online casinos are focusing on investing in information solutions that offer continuous support to gamblers, ensure the credibility of the operations, and prevent illegal affairs. Numerous online casinos are offering a free play version of some of their games, which is creating growth opportunities for the market.
Online gambling can be considered as a global activity both in terms of technological and organizational viewpoints. From a technological point of view, online gambling operates via the internet. However, in an organization, it works on multiple server points existing across the globe. For instance, on a global scale, more than 80 jurisdictions control some form of gambling; however, they are grouped in only a few places.
Numerous countries are legalizing online gambling since it offers a high rate of employment and helps in revenue generation. For instance, in India, online gambling has been made legal in Sikkim and Goa. In addition, participation in online gambling allows players to experience gambling activities in real-time through internet services. The growing number of sports followers across the globe has fueled the demand for sports betting. The majority of bets are placed on boxing, baseball, football, and hockey sports, which is, in turn, driving the market.
Increasing the development of new technologies such as virtual reality and blockchain is also driving the growth of the industry. This may be attributed to the fact that several companies are now integrating the blockchain technology into their online gambling business. This helps them ensure transparency in gambling activities and offer enhanced user experience. In addition, blockchain-based gambling platforms are completely decentralized and are free of third-party influence.
On the contrary, cybercrime in the industry is increasing at a rapid rate. Signal manipulation through fake apps and app-based hacking are some of the major concerns hampering the market growth. The online gambling industry is also witnessing an increasing risk of app-based hacking. In addition, compulsive gambling can affect an individual’s health and personal relationships, leading to issues such as depression or debts.
COVID19 Impact Insights.
The outbreak of COVID-19 is projected to favorably impact the market. To prevent the spread of the virus, countries across the globe have imposed restrictions and are promoting social distancing. Stringent restrictions on people’s movement are anticipated to have a significant impact on land-based casino operations. Numerous players are shifting to online gambling as-a-result of land-based gambling lockdown. However, cancellation of major sports events across the world is adversely impacting sports betting, thereby hindering market growth.
Type Insights.
Based on type, the online gambling market has been segmented into sports betting, casinos, poker, bingo, and others. The sports betting segment dominated the market in 2019 owing to the growing use of digital platforms across the world. Moreover, the rising disposable income in Asia Pacific has resulted in a higher spending capacity, which is also expected to contribute to segment growth. Live-action betting and fixed-odds betting are some of the popular types of internet sports betting.
Online poker has garnered attention, particularly from college students. The segment is expected to register a significant CAGR owing to the wide popularity of online card games. Over the years, convenience has been one of the most important factors contributing to online poker’s popularity as many sites accept deposits from major credit cards, online wallets, and even virtual currencies such as Bitcoin . The wide range of games available for players to choose from is further driving the segment.
Device Insights.
The desktop segment dominated the market in 2019. The large screen size of desktops compared to mobile phones and other devices enable gamblers to enjoy the graphics and intricate details of the game. In addition, performance parameters such as picture quality, sound volume, and storage capacity can be adjusted on desktops for improved gaming experience. These factors have contributed to the growth of the desktop segment.
Technological innovations in mobile phones and enhanced gaming graphics in smartphones have resulted in increased access to online mobile games . Moreover, online gambling allows individuals to gamble from their comfort zone and offers an uninterrupted gaming experience. The wide availability of smartphones with high-end features such as extended storage capacity and improved graphics offered at reasonable prices also contributes to market growth. Mobile online gambling offers various benefits to players such as increased deposit options, loyalty points, and options to play with other players situated anywhere across the globe.
Regional Insights.
Europe dominated the market in 2019 with market size of USD 22.0 billion. The growth can be attributed to the legalization of gambling in countries such as France, Germany, Spain, Malta, and Italy. Other favorable factors for the market growth include the rising use of smartphones, availability of high-speed internet, and rising popularity of online casinos. Moreover, the Gambling Act 2005 set up by the U.K. Gambling Commission (UKGC) has permitted companies to advertise their gambling sites, which is also contributing to the growth of the market in the region.
Meanwhile, the growing use of internet services and relaxation of regulations pertaining to online betting and gambling is expected to drive the growth of the market in Asia Pacific over the forecast period. In addition, growing popularity of bitcoins has resulted in the increased use of digital currencies for betting in the region. High economic growth of the Asia Pacific region, coupled with increased spending on leisure activities, is expected to boost market growth over the forecast period. Macau and Hong Kong are two of the prominent sports betting and revenue-generating countries in the region.
Key Companies & Market Share Insights.
Companies are focusing on consistent innovations to personalize and differentiate their service offerings for potential customers. Product launches, mergers and acquisitions, and collaborations are some of the key strategies adopted by these players to gain a competitive edge in the market.


Global Online Sports Betting Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
Global Online Sports Betting market is segmented by Sports Type into Football, Basketball, Baseball, Horse Racing, E-Sports, and Others; by Device into Desktop and Mobile; and by Geography.
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ABOUT THIS REPORT Market Snapshot Market Overview Scope of the Report Key Market Trends Competitive Landscape Major Players TABLE OF CONTENTS Download Free Sample Now.
Market Snapshot.
Fastest Growing Market :
Need a report that reflects how COVID-19 has impacted this market and its growth?
Market Overview.
Global Online Sports Betting market is growing by registering a CAGR of 10.1% during the forecast period (2019-2024).
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.
Scope of the Report.
Global Online Sports Betting market is segmented by sports type into football, basketball, baseball, horse racing, e-sports, and others. By device, the market is segmented into desktop and mobile. Moreover, it provides an analysis of the craft beer market in the emerging and established regions, which include North America, Europe, Asia-Pacific, and rest of the World.
Report scope can be customized per your requirements. Click here.
Key Market Trends.
Online 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.
To understand key trends, Download Sample Report.
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.
To understand geography trends, Download Sample Report.
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.


Online Sports Betting Market Emerging Trends and Competitive Landscape Forecast to 2027 | William Hill, GVC Holdings, 888 Holdings, Kindred Group, Paddy Power Betfair.
Press release from: ReportsWeb.
Online Sports Betting Market.
The research report on Online Sports Betting Market provides comprehensive analysis on market status and development trend, including types, applications, rising technology and region. Online Sports Betting Market report covers the present and past market scenarios, market development patterns, and is likely to proceed with a continuing development over the forecast period. A number of analysis tools such as SWOT analysis and Porter’s five forces analysis have been employed to provide an accurate understanding of this market.
Get Sample Copy of this Report @ https://bit.ly/3hW0rYY.
Some of the key players of Online Sports Betting Market:
The Global Online Sports Betting Market research report offers an in-depth analysis of the global market, providing relevant information for the new market entrants or well-established players. Some of the key strategies employed by leading key players operating in the market and their impact analysis have been included in this research report.
By Product Types: • Association football (Soccer) • American Football • Basketball • Hockey • Mixed Martial Arts • Boxing • Other.
By Applications: • Females • Males • Others.
Major Regions play vital role in Online Sports Betting market are: North America, Europe, China, Japan, Middle East & Africa, India, South America, Others.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the Global Online Sports Betting Market based on product and application. It also provides market size and forecast for overall Online Sports Betting market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM), which is later sub-segmented by respective countries and segments.
Get Discount for This Report @ https://bit.ly/3bjFNiP.
The report evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend and provides exhaustive PEST analysis for all five regions.
Fundamentals of Table of Content:
1 Report Overview 1.1 Study Scope 1.2 Key Market Segments 1.3 Players Covered 1.4 Market Analysis by Type 1.5 Market by Application 1.6 Study Objectives 1.7 Years Considered.
2 Global Growth Trends 2.1 Online Sports Betting Market Size 2.2 Online Sports Betting Growth Trends by Regions 2.3 Industry Trends.
3 Market Share by Key Players 3.1 Online Sports Betting Market Size by Manufacturers 3.2 Online Sports Betting Key Players Head office and Area Served 3.3 Key Players Online Sports Betting Product/Solution/Service 3.4 Date of Enter into Online Sports Betting Market 3.5 Mergers & Acquisitions, Expansion Plans.
4 Breakdown Data by Product 4.1 Global Online Sports Betting Sales by Product 4.2 Global Online Sports Betting Revenue by Product 4.3 Online Sports Betting Price by Product.
5 Breakdown Data by End User 5.1 Overview 5.2 Global Online Sports Betting Breakdown Data by End User.
This release was published on openPR.
Permanent link to this press release:




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