Sports Betting Market Poised for Major Growth, Exceeding $245 Billion by 2033 Driven by Regulatory Changes, Digital Advancements, and Innovations by Top Companies
• The global sports betting market is predicted to expand notably, exceeding $245 billion by 2033 due to factors like regulatory changes and digital infrastructure growth.
• North America held a 28.1% market share in 2022, with the United States capturing 16.5%. High growth is expected in India (13.4% CAGR) and China (8.2% CAGR).
• Football betting accounted for 20.2% of the market in 2022. Machine learning tools are creating more precise forecasting models and algorithms.
• Key players like Bet365 and William Hill are establishing engaging platforms and exclusive deals to gain a competitive edge.
• The market is driven by technological advancements like blockchain and virtual reality, evolving consumer preferences, and increasing online accessibility.