United States Sports Betting Market Growth, Size, Trends, Share, Revenue and Future Outlook
United States Sports Betting Market Size- By Platform, By Betting Type, By Sports Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Mar-2024 | Report ID: FMCG2475 | Pages: 1 - 106 | Formats*: |
| Category : Consumer & Retail | |||
United States Sports Betting Market Introduction and Overview
According to SPER Market Research, the United States Sports Betting Market is estimated to reach USD 27.76 billion by 2033 with a CAGR of 12.83%.
The report includes an in-depth analysis of the United States Sports Betting Market, including market size and trends, product mix, distribution channels, and supplier analysis. A form of gambling known as sports betting involves forecasting sports results and then putting a bet on those results. Fan support for a certain club or rival can be demonstrated by placing bets on games. In some societies, sports betting is more common than in others. Football, basketball, baseball, boxing, track cycling, and other sports are the most popular leagues for bettors. The likelihood of regular earnings for sports bettors is higher when they have a thorough understanding of the players and teams.
Market Opportunities and Challenges
Opportunities: The US sports betting market is mostly driven by the growing number of annual sporting events and leagues in the country, including Major League Baseball (MLB), the National Football League (NFL), the National Basketball Association (NBA), the National Hockey League (NHL), and so on. Additionally, the nation's market is expanding because to the increasing use of smartphones and the growing influence of user-friendly betting apps. Accordingly, the growing digitalization trend in the sports sector and the extensive use of wireless technology are fostering favourable conditions for the local market.
Challenges: The sports betting industry in the US is facing a number of challenges. The complicated legal environment around sports betting regulation, with numerous state-specific rules and regulations, is a major barrier. Operators aiming to provide services across several jurisdictions encounter obstacles and discrepancies due to this fragmentation. The growth of the regulated sector is further hindered by the proliferation of illegal and offshore betting sites, which compete with legitimate businesses and jeopardize consumer protection initiatives. In addition, questions of honesty and equity in sports wagering continue to be raised, particularly in relation to insider trading and match-fixing.
Market Competitive Landscape
The Sports betting market in United States is moderately consolidated. Some of the market key players are BetMGM, Bet365, Fanatics Sportsbook, ESPN BET, Draftkings Inc., Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Platform, By Betting Type, By Sports Type- |
| Regions covered | Eastern Region, Western Region, Southern Region, Northern Region |
| Companies Covered | BetMGM, Bet365, Fanatics Sportsbook, ESPN BET, Draftkings Inc., Others. |
COVID-19 Impact on United States Sports Betting Market
The sports betting industry in the United States has been significantly impacted by the COVID-19 outbreak. During the height of the epidemic, the sector saw a large fall in betting activity as big sporting events were canceled, postponed, or held without spectators. In addition to decreasing betting volume, the lack of live sports affected sportsbooks' revenue sources, especially those that depended significantly on major leagues such as the NFL, NBA, and MLB. But as people looked for other entertainment options while maintaining social distancing protocols, the epidemic also expedited other trends, like the uptake of online and mobile betting platforms. Operators now need to make more investments in technology and user experience to keep up with changing customer tastes as a result of the transition towards digital media.
Key Target Audience:
- Sports enthusiasts
- Bettors and gamblers
- Online gaming and gambling companies
- Investors and stakeholders in the gambling industry
- Sports leagues and organizations
Our in-depth analysis of the United States Sports Betting Market includes the following segments:
| By Platform: |
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| By Betting Type: |
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| By Sports Type: |
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Key Topics Covered in the Report:
- United States Sports Betting Market Size (FY’2024-FY’2033)
- Overview of United States Sports Betting Market
- Segmentation of United States Sports Betting Market By Platform (Offline, Online)
- Segmentation of United States Sports Betting Market By Betting Type (Fixed Odds Wagering, Exchange Betting, Live/In Play Betting, Pari-Mutuel, eSports Betting, Others)
- Segmentation of United States Sports Betting Market By Betting Type (Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, Others.)
- Expansion Analysis of United States Sports Betting Market
- Problems and Obstacles in United States Sports Betting Market
- Competitive Landscape in the United States Sports Betting Market
- Impact of COVID-19 and Demonetization on United States Sports Betting Market
- Details on Current Investment in United States Sports Betting Market
- Competitive Analysis of United States Sports Betting Market
- Prominent Players in the United States Sports Betting Market
- SWOT Analysis of United States Sports Betting Market
- United States Sports Betting Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the United States Sports Betting Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. United States Sports Betting Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in United States Sports Betting Market
7. United States Sports Betting Market, By Platform (USD Million)
7.1. United States Sports Betting Market Value Share and Forecast, By Platform, 2024-20337.2. Offline
7.3. Online
8. United States Sports Betting Market, By Betting Type (USD Million)
8.1. United States Sports Betting Market Value Share and Forecast, By Type, 2024-20338.2. Fixed Odds Wagering8.3. Exchange Betting8.4. Live/In Play Betting8.5. Pari-Mutuel8.6. eSports Betting8.7. Others
9. United States Sports Betting Market, By Sports Type (USD Million)
9.1. United States Sports Betting Market Value Share and Forecast, By Sports Type, 2024-20339.2. Football9.3. Basketball9.4. Baseball9.5. Horse Racing9.6. Cricket9.7. Hockey9.8. Others
10. United States Sports Betting Market Forecast, 2020-2033 (USD Million)
10.1. United States Sports Betting Market Size and Market Share
11. United States Sports Betting Market, By Platform, 2020-2033 (USD Million)
11.1. United States Sports Betting Market Size and Market Share By Platform (2020-2026)11.2. United States Sports Betting Market Size and Market Share By Platform (2027-2033)
12. United States Sports Betting Market, By Betting Type, 2020-2033 (USD Million)
12.1. United States Sports Betting Market Size and Market Share By Betting Type (2020-2026)12.2. United States Sports Betting Market Size and Market Share By Betting Type (2027-2033)
13. United States Sports Betting Market, By Sports Type, 2020-2033 (USD Million)
13.1. United States Sports Betting Market Size and Market Share By Sports Type (2020-2026)13.2. United States Sports Betting Market Size and Market Share By Sports Type (2027-2033)
14. United States Sports Betting Market, By Region, 2020-2033 (USD Million)
14.1. United States Sports Betting Market Size and Market Share By Region (2020-2026)14.2. United States Sports Betting Market Size and Market Share By Region (2027-2033)14.3. Eastern Region14.4. Western Region14.5. Northern Region14.6. Southern Region
15. Company Profile
15.1. BetMGM15.1.1. Company details15.1.2. Financial outlook15.1.3. Product summary15.1.4. Recent developments15.2. Bet36515.2.1. Company details15.2.2. Financial outlook15.2.3. Product summary15.2.4. Recent developments15.3. Fanatics Sportsbook15.3.1. Company details15.3.2. Financial outlook15.3.3. Product summary15.3.4. Recent developments15.4. ESPN BET15.4.1. Company details15.4.2. Financial outlook15.4.3. Product summary15.4.4. Recent developments15.5. Draftkings Inc.15.5.1. Company details15.5.2. Financial outlook15.5.3. Product summary15.5.4. Recent developments15.6. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. List of Abbreviations
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
United States Sports Betting Market is projected to reach USD 27.76 billion by 2033, growing at a CAGR of 12.83% during the forecast period.
United States Sports Betting Market size from 2022. The Market is expected to reach USD 27.76 billion by 2033, at a CAGR of 12.83% during the forecast period.
United States Sports Betting Market CAGR of 12.83% during the forecast period.
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United States Sports Betting Market size is 27.76 billion from 2024 to 2033.
United States Sports Betting Market Segment is covered By Platform, By Betting Type, By Sports Type-.
The North America is anticipated to have the highest market share in the Europe Leather Goods Market.
The key players in the market include Companies Covered Bet MGM, Bet365, Fanatics Sportsbook, ESPN BET, Draftkings Inc., Others.
The likelihood of regular earnings for sports bettors is higher when they have a thorough understanding of the players and teams.
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