Horse and sports betting market to grow by USD 171.87 million from 2022 to 2027 | Increasing digital connectivity drives market growth - Technavio
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.
What's New? -
Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
Global competitiveness and key competitor positions
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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
Segment Overview
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.
Geography Overview
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.
For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 - Download a Sample Report
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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Horse And Sports Betting Market Scope | |
Report Coverage | Details |
Historic period | 2017-2021 |
Forecast period | 2023-2027 |
Growth momentum & CAGR | Accelerate at a CAGR of 9.64% |
Market growth 2023-2027 | USD 171.87 million |
Market structure | Fragmented |
YoY growth 2022-2023 (%) | 9.12 |
Regional analysis | Europe, APAC, North America, South America, and Middle East and Africa |
Performing market contribution | Europe at 41% |
Key countries | US, China, UK, Italy, and Germany |
Competitive landscape | 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 |
Market dynamics | 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. |
Customization purview | 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
13 Appendix
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