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Global Sports Betting Market to be worth US$ 179.3 billion by 2028 with CAGR of 8.33% during 2021 to 2028 - Zion Market Research
https://www.zionmarketresearch.com/requestbrochure/sports-betting-market
Furthermore, sports betting activities are set to witness increase in demand in territories outside UK as the latter has strict laws governing sports betting. This will further influence growth of sports betting market over years ahead. For the record, in November 2020 , federal justice minister in Canada introduced a Bill C-13 for amending criminal code, thereby overturning ban on single event sport betting. This could result in avoiding funding of illegal sports betting activities and will drive growth of sports betting market in Canada . Apart from this, the bill if passed can help in garnering huge revenues for state. All such strategic moves can aid growth of sports betting market within next few years.
- https://www.zionmarketresearch.com/inquiry/sports-betting-market
Economic activities have taken severe hit due to lockdown as a result of onset of COVID-19 pandemic. This has disrupted earning source as well as GDP of several countries. Hence, countries across globe are trying to search for new revenue streams and have found sports betting as a new source of direct revenue that can increase data sales & sponsorships as well as ads with sports books. This will drive sports betting market trends. Apart from this, sports betting reforms can also assist in aiding indirect revenue for government with surge in sports fan engagement, merchandise sales, partnerships, and media right transactions. Revenue accrued from sports betting activities can offset decline in earnings from other revenue sources impacted due to COVID-19 pandemic. Apparently, broadcasters make use of over-the-top tools for generating new digital products that help in delivering second-screen experience to viewers while broadcasting live sports activities and this can unlock new growth opportunities for sports betting market over coming years.
With sports betting firms eager for entering into strategic alliances with various traditional sports institutes through sponsorships, the sports betting market earnings is anticipated to reach its peak in coming decade. Furthermore, rise in esports activities will also contribute significantly towards overall industry size in forthcoming years.
- https://www.zionmarketresearch.com/toc/sports-betting-market
With nearly twenty-four states in the U.S. passing legislation in November 2020 for reforming sports betting, the market in North America is slated to register immense growth over forecast period. As per Canadian Gaming Association, C$ 15.2 billion was spent on sports betting in Canada during 2020. With legalization of single game sports betting in Canada in August 2021 , the sports betting market revenue in country is likely to hit nearly c$ 28.1 billion by 2026 with a CAGR of nearly 123% in next five years. This means, sports betting market in Canada will expand nearly seven times the size of spectator-sports market in the country over 2021-2026. All these aspects will create new growth avenues for sports betting market in North America during 2021-2028. Furthermore, legalization of sports betting activities in countries such as the U.S. and Canada is slated to benefit provincial governments as well as industries in these countries.
Key stakeholders in sports betting ecosystem are focusing on creating new revenue streams through increase in fan & customer engagement, thereby driving sports betting business throughput in terms of revenue. Some of the stakeholders profiled in our report include William Hill PLC, Bet365 Group Ltd., 888 Holdings PLC, DraftKings, GVC Holdings PLC, Betsson AB, Kindred Group, The Stars Group Inc., Paddy Power Betfair PLC, and BetAmerica.
This review is based on a report by Zion Market Research, titled, " "
This report segments the global sports betting market into:
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