Varie
Sports Betting Market Size Worth $140.26 Billion By 2028: Grand View Research, Inc.
Sports betting is an activity of foretelling sports results and placing a bet on the result. Most bets are placed on sports, such as football, baseball, basketball, hockey, cricket, boxing, and auto racing. However, sports betting also extends to non-athletic events, such as horse racing and eSports
The COVID-19 pandemic led to the cancellation of sports events, which reduced sports betting opportunities. However, the sports betting industry is expected to witness lesser financial damage compared to other industries. As a result of the lockdown of land-based betting facilities, many customers/bettors shifted to online betting platforms. During lockdowns, the online sports betting industry witnessed an increase in participation as users had more time to spare on their phones and desktop computers, making it convenient for them to place bets.
The market has also benefitted from the growth in internet penetration, which is driving increased investments in online sports betting platforms. For instance, according to Global Social Media Overview April 2021 by DataReportal, there are more than 4.8 billion internet users across the world. Participation in online betting permits players to monitor betting activities in real-time through internet-connected devices.
Sports betting platform providers are investing in research & development activities to introduce innovations in the market and offer a better experience to users. Additionally, the growing competition is driving innovations in the sports market.
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Follow Us: LinkedIn | Twitter
Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg