The United States sports betting market is expected to exhibit a CAGR of 13.67% during 2022-2027.
Sports betting represents a type of gambling activity that entails making predictions regarding sports outcomes and then placing a wager on them. Bets on games allow fans to showcase their expertise or allegiance to a specific team or competitor. Furthermore, sports gambling is more common in some cultures than others, with the most popular leagues for wagers being boxing, track cycling, basketball, baseball, football, etc. Sports bettors with in-depth knowledge of teams as well as athletes are more likely to make consistent profits.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
United States Sports Betting Market Trends:
The widespread adoption of wireless connectivity and the increasing penetration of smartphones are primarily driving the United States sports betting market. Additionally, the growing number of annual sports events and leagues in the country, including major league baseball (MLB), national football league (NFL), national basketball association (NBA), national hockey league (NHL), etc., is also catalyzing the market growth. Besides this, the inflating popularity of ripple, bitcoin, dogecoin, etc., in the sports betting landscape is encouraging bettors towards these virtual currencies to attain ease of transaction, which is acting as another significant growth-inducing factor. Moreover, the rising integration of blockchain technology with sports betting apps for automation of real-time data using smart contracts that assist in past event analytics, payment, bet confirmations, etc., is augmenting the market growth. Apart from this, the development of cutting-edge machine learning (ML) algorithms to predict the outcomes of games is anticipated to fuel the United States sports betting market over the forecasted period.
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United States Sports Betting Market 2022-2027 Analysis and Segmentation:
The report has segmented the market on the basis on region, platform, betting type, sports type.
Breakup by Platform:
Breakup by Betting Type:
- Fixed Odds Wagering
- Exchange Betting
- Live/In Play Betting
- eSports Betting
Breakup by Sports Type:
- Horse Racing
Breakup by Region:
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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