NEW YORK, Aug. 29, 2023 /PRNewswire/ — The global horse and sports betting market size is estimated to increase by USD 171.87 million from 2022 to 2027. The market’s growth momentum will progress at a CAGR of 9.64%.
Increasing digital connectivity drives the growth of the horse and sports betting market. The growing Internet penetration across the world contributes to the digital revolution worldwide. According to The World Bank Group, the percentage of people using the Internet globally was 60% in 2020. Also, the online and virtual platforms of betting for horse racing and other sports use innovative graphics and advanced statistics to draw the attention of customers. For example, 888 Holdings strengthens its technology and service landscape and supports the business development strategy for a long time. Hence, such factors drive the growth of the horse and sports betting market during the forecast period. Discover some insights on market size historic period (2017 to 2021) and forecast market data (2023 to 2027) before buying the full report –Request a sample report
Horse and sports betting market – Company Analysis
Company Landscape – The global horse and sports betting market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer horse and sports betting in the market are 888 Holdings Plc, Abudantia BV, Bet365 Group Ltd., BetOnline, Betsson AB, Caesars Entertainment Inc., Chancier BV, Churchill Downs Inc., DraftKings Inc., Entain Plc, Flutter Entertainment Plc, Kindred Group Plc, MGM Resorts International, Parimatch, PENN Entertainment Inc., Sportech Plc, SportsBetting.ag, The Betway Group, The Hong Kong Jockey Club, Webis Holdings Plc, and others.
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Company Offerings –
- 888 Holdings Plc – The company offers horse and sports betting through its brand 888 Sport.
- Bet365 Group Ltd. – The company offers horse and sports betting such as UK racing and US horse racing.
- BetOnline – The company offers horse and sports betting such as BetOnline Racebook.
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Horse And Sports Betting Market – Segmentation Assessment
Technavio has segmented the market based on platform (offline betting and online betting), type (fixed odds wagering, exchange betting, live betting, esports betting, and others), and geography (Europe, APAC, North America, South America, and Middle East and Africa).
- The offline betting segment will be significant during the forecast period. People who are not comfortable with online platforms are the most popular users of the offline segment of the horse and sports betting market. Furthermore, factors such as the lack of technology adoption, the prevalence of government regulations that allow sports betting only through offline channels, and privacy issues related to online betting platforms have increased the adoption of offline betting for horse racing and other sports activities. Hence, such factors boost the segment growth during the forecast period.
By geography, the global horse and sports betting market is segmented into Europe, APAC, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global horse and sports betting market.
- Europe will contribute 41% to the growth of the global market during the forecast period. The popularity of offline and online sports betting in the region has grown over time. Furthermore, online sports are becoming more popular among Europeans due to easy access to online betting sites. Also, due to increased internet connectivity and increased use of smartphones, sports betting has grown significantly in European countries. Hence, such factors fuel the regional market growth during the forecast period.
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Horse And Sports Betting Market – Market Dynamics
Key Trends –
The growing popularity of esports is an emerging horse and sports betting market trend.
Major challenges –
Negative socio-economic impact challenges the growth of the horse and sports betting market.
What are the key data covered in this Horse And Sports Betting Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the horse and sports betting market between 2023 and 2027
- Precise estimation of the size of the horse and sports betting market and its contribution to the market with a focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the horse and sports betting market across Europe, APAC, North America, South America, and Middle East and Africa
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of horse and sports betting market vendors
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The gambling market is estimated to grow at a CAGR of 7.1% between 2022 and 2027. The size of the market is forecast to increase by USD 260.44 billion.
The Global Sports Betting Market size is estimated to grow at a CAGR of 10.09% between 2022 and 2027. The market size is forecast to increase by USD 139.26 billion.
Horse And Sports Betting Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 9.64%
Market growth 2023-2027
USD 171.87 million
YoY growth 2022-2023 (%)
Europe, APAC, North America, South America, and Middle East and Africa
Performing market contribution
Europe at 41%
US, China, UK, Italy, and Germany
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
888 Holdings Plc, Abudantia BV, Bet365 Group Ltd., BetOnline, Betsson AB, Caesars Entertainment Inc., Chancier BV, Churchill Downs Inc., DraftKings Inc., Entain Plc, Flutter Entertainment Plc, Kindred Group Plc, MGM Resorts International, Parimatch, PENN Entertainment Inc., Sportech Plc, SportsBetting.ag, The Betway Group, The Hong Kong Jockey Club, and Webis Holdings Plc
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Platform
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
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