The continual surge in popularity of the global market of sports betting has contributed in making it one of the fastest developing sectors.The digitalisation has been witnessing its full swing, thereby making the sports betting industry visualize the dynamic changes and pave ways into newer and broader markets.
It’s really a tricky task to paint the overall picture of the sports betting market as the industry has undergone an epic change of growth in the past few decades. Whether we talk about expansion of the sports betting world with the addition of new streams such as eSports or enhancement in the core betting industry, all we could witness is a tremendous growth!
In 2009, the value of sports betting was found to be $20 billion, by 2016, it became $40 billion and visualizing the present scenario of $60-73 billion, the growth rate of the market is approximately at the rate of $10 billion yearly. With the ongoing trend, the expected market size of global sports betting is expected to be $125.18 billion USD in 2019-2023. As per a recent survey, it has been found that over 50% of US citizens accepted to place a bet on the different sports events at least once in lifetime.
Visualizing such a great hike in the sports betting world, the most common question that revolves around our minds is the factor that is driving such a huge increase. The reason behind this increase is the tremendous wealth and deep touch with the digital world. As entrepreneurs are getting wealthier, they plan to double up their investments and the sports betting industry is one such lucrative industry that is enticing more and more count of investors.
Though US and APAC regions have always caught the eyes of the world in terms of sports betting, but it’s growing wisely in other regions as well. Regions like Australia, Africa, Latin America and Europe are also gradually moving towards this industry.
After understanding the growth pace of sports betting industry in different regions and the revenue growth around past decades, let’s have a glance at the most popular sports and leagues that catch the significant betting volume:-
- Among sports, Football possesses the highest betting volume which is followed by American Football.
- Among leagues, MLB, NBA and NHL receive a great level of betting volume.
The future of sports betting industry is majorly driven by the digital revolution! The proliferation of online world and the investments of entrepreneurs in the sports betting software has made it easier for people to bet in a hassle-free way. The entrepreneurs always seek feature-enriched sports betting software that can drive large count of users while elevating the revenue rate of their businesses.
GammaStack tends to offer top of the line sports betting software that possesses unparalleled features that can be customised as per the brand requirements. The sports betting software developed by us comes with myriad of impeccable features including:
- No Revenue Share
- Quick Time to Market
- Multiple Payment Gateways
- Major Cryptocurrencies Supported
- Multi-lingual Support
and many more