Gambling Industry & Sports Market
The global gross gaming/gambling yield amounts to more than 400 billion U.S. dollars each year. Gross win from gambling represents the amount of money the gambling operation keeps from the customer’s stakes, wagers, bets etc. less the winning paid out to the customer and before deducting operating expenses. With about one third of the global gambling gross win, Asia is the biggest market for gambling and sports betting in particular. Probably the fastest growing segment of the industry is the online / interactive category, as the global online gambling market has grown at a consistent rate over the last few years from around 20 billion U.S. dollars in 2009 to more than 40 billion U.S. dollars by 2016.
The sports betting market occupies the largest market share in the overall gambling market accounting for around 40% of the gambling revenue generation across the globe. Some of the most popular games that involve high betting are horse racing, football, cricket, tennis, basketball, baseball, and golf. The primary reason for the growth of the sports betting market is the gradual easing of government regulations on gambling. The shift in gambling regulations across the world has opened up opportunities for gamblers to participate in sports betting in any part of the world through an online platform, except in those countries where sports betting is banned. With the government easing the regulations in some of the countries such as the US that has huge potential to grow, will positively aid in the growth of the market during the forecast period. Technavio’s market research analyst predicts the global sports betting market will grow sluggishly at a CAGR of more than 4% during the forecast period. There has been a significant change in consumer behavior in the global sports betting market. The increase in the popularity of gambling apps and social gambling are likely to propel the growth of the market during the forecast period.
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