For instance, in December 2021, Unikrn Inc., a global esports betting & entertainment media company introduced its betting platform in Canada and Brazil. Additionally, the market players are expanding their presence across countries with supportive regulatory compliance. Major players in the global betting industry now operate via official websites and online platforms to cater to the increased demand for sports betting. Gambling Commission, there was a huge 2922% year-on-year rise in esports betting revenue from March 2019 to March 2020. For instance, according to the report by the U.K. The surge in online sports events backed up by a rise in the number of esports tournaments offers stable growth opportunities for the betting industry. Market players are utilizing the increased number of esports events to offer an opportunity for their customers to bet on such esports competitions and earn extra income. Read 131 page market research report for more Insights, ' Sports Betting Market Size, Share & Trends Analysis Report By Platform, By Betting Type (Fixed Odds Wagering, Exchange Betting, Live/In-Play Betting, eSports Betting), By Sports Type, By Region, And Segment Forecasts, 2023 - 2030', published by Grand View Research.Įsports, which is an organized, multiplayer video game competition, played by professional players, individuals, or teams, has gained massive popularity during the COVID-19 pandemic and witnessed a surge in the number of events worldwide. Horseracing, followed by football, is extremely popular and accounted for the second-highest market share. However, the eSports betting segment is likely to witness growth at the fastest CAGR during the forecast period owing to the surge in demand for interactive games.įootball, also known as soccer, registered the highest market share in 2022. The fixed-odds wagering segment accounted for a significant market share in 2022. The online platform segment dominated the market in 2022 and is expected to showcase the highest CAGR during the forecast period. has legalized sports betting in 36 states as of January 2023, which is a promoting factor for the regional market growth. North America is expected to witness a CAGR of around 11% during the forecast period. Key Industry Insights & Findings from the report:

Online sports betting industry