Transparency Market Research delivers key insights on the global Internet sports betting market. In terms of revenue, the global Internet sports betting market is estimated to expand at a CAGR of 12.1% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global Internet sports betting market.
The demand for real-time sports streaming is projected to increase in the upcoming years, owing to the increase in Internet speeds and the high compatibility of mobile devices. Therefore, most players are expected to switch to e-sports streaming through their mobile devices. According to the Cisco Visual Networking Index, 2015 – 2024, the global mobile video data traffic reached 22.96 Exabyte/month by 2020 from 2.03 Exabyte/month from 2015. Operators need to integrate live streaming with their betting applications so as to increase the demand for Internet sports betting. This can be carried out through the integration of the media streaming application with gaming applications and partnering with media partners.
Internet Sports Betting Market: Dynamics
Internet sports betting laws across the globe are tightly regulated, owing to concerns about malpractices. Furthermore, Internet sports betting conducted across the globe is updated to remain fair, free of criminal influence and infiltration, and operate within a regulatory framework that offers protection for children and vulnerable adults.
Different countries across the globe struck down a federal law that prohibits Internet sports betting in various sports such as football, basketball, baseball, and other sports, giving the go-ahead to legalize betting on sports.
Governments are emphasizing on passing bills to relax Internet sports betting laws that will boost the economy of the respective countries and generate employment. In addition, Internet sports betting is likely to be considered a part of leisure or entertainment in the upcoming years.
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Internet Sports Betting Market: Prominent Regions
The global internet sports betting industry is one of the most profitable businesses in the gambling industry. Europe, with smooth laws for Internet sports betting across the globe is projected to remain the dominant market during the forecast period. Relaxation of laws and regulations in Asia Pacific, a region having high potential for internet sports betting, is expected to boost the growth of the market. Continuous growth in the number of participants for betting across the globe is anticipated to fuel the business of Internet sports betting.
Internet Sports Betting Market: Key Players
Key players operating in the global Internet sports betting market are 888 Holdings Plc, Entain Plc, Kindred Group, Unibet, Unikrn Inc, William Hill Limited, Fortuna Entertainment Group, Flutter Entertainment, Betway Group, and Cyber Bet. Kindred Group accounted for key share in the global Internet sports betting market.
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