Rise of Sports Betting in Online Casino Market

Screen Shot 2021-08-23 at 11.51.56 AM

The most popular sport in the world is where the rise of sports betting gambling began. As the COVID-19 pandemic wreaked havoc on American sports, football regained its appeal. 4.3 billion dollars was wagered by gamblers on Super Bowl LV, according to the American Gaming Association (AGA), a record for the industry. Ninety-five percent of those who placed bets on the game used big internet bookmakers. Over the preceding year, this number had increased by 63 percent! As American sports take a dip in February, college basketball’s popularity expect to pick up the slack.

This year’s March Madness event expects to attract 18 million bettors, according to the American Gaming Association (AGA). More than206 percent in 2019 (because COVID-19 had forced the cancellation of last year’s competition). With the legalization of sports betting like แทงบอลออนไลน์ in the previous few years, the rise of sports betting has many potentials to extend internationally.

Sports Betting Market in the World:

Over the past year, the global sports betting market had been sluggish and stagnant. However, according to the American Gaming Association (AGA), sports gambling revenues in the United States grew at a record pace in January, reaching $378 million. It is a record month for national sports betting such as football betting, which means that compared to 2020, annual revenue has increased by 174%. Additionally, two additional legal jurisdictions, Virginia and Michigan, contributed to the record-breaking wager amounts reported by 11 states during January.

As of September 20, 2021, Tennessee, South Dakota, and a few more states are working on legislation to authorize sports betting within their boundaries. By 2025, the U.S. sports betting industry expects to generate $7 billion in revenue. In 2020-2025, the worldwide sports betting market predicts to expand by $144.44 billion, according to a forecast by Technavio includes online lotteries, online casinos, and sports betting. The total gambling income (GGR) in Europe expects to reach 24.7 billion Euros in 2020. In terms of GGRs, the United Kingdom, Germany, France, and Spain were the top five. In 2019, sports betting accounted for 41% of online gambling revenue in Europe. Its estimate that by 2024, the value of the online game market in this region will reach US$94 billion. 

As Europe enters the international online gambling market, many gaming companies in Latin America are still available through traditional land-based casinos. As a result, online gambling is gaining momentum. Surprisingly, China is the country with the highest gambling. Their specific administrative region (province), Macau, is the best example of this. Macau sports bettors have access to the same international bookies as the rest of the globe via the internet. Only two authorized sports betting and horse racing sites are available in the region. Betting on European football and American basketball is a Macau popular pastime.) In terms of sports betting, the Asia-Pacific region (APAC) outperformed Europe and North America in 2019. Online betting and new digital platforms project to continue this trend.

As a result, online gambling has forever revolutionized the world of sports betting. From anywhere in the globe, you can now access a variety of websites and online platforms.

______________________________________________

Tags: ,

Related Posts

by
Previous Post Next Post
0 shares