Industry News
Europe Sports Betting Market Size, Share & Trends Analysis Report 2024-2030 Featuring Bet365, William Hill, Betfair, Paddy Power, 888sport, Bwin, Unibet, Ladbrokes, MGM, and Betsson
The “Europe Sports Betting Market Size, Share & Trends Analysis Report by Type, Platform, Sports Type (Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, Others), Country, and Segment Forecasts, 2024-2030” report has been added to ResearchAndMarkets.com’s offering.
The Europe sports betting market size is anticipated to reach USD 65.54 billion by 2030 and is expected to expand at a CAGR of 9.9% from 2024 to 2030
The globalization of sports and the integration of international leagues and tournaments into European betting markets have fueled the growth of sports betting. Major sporting events such as the FIFA World Cup, UEFA European Championship, Wimbledon, and the Olympics attract widespread attention and betting interest from European consumers, driving significant betting volumes and revenues for sports betting operators, thus driving the growth of the sports betting market in Europe.
The COVID-19 pandemic had a negative impact on the European sports betting market. The cancellation or postponement of sports events during the pandemic restrained the market growth. With major tournaments, leagues, and competitions either suspended or canceled outright, the absence of live sports events severely diminished consumer betting opportunities. It led to a significant decline in betting volumes and revenues for sports betting operators.
The presence of favorable betting policies in the region is driving the growth of the sports betting market in the region. Many European countries, such as the UK, Ireland, Denmark, and France, have progressive policies promoting a competitive and well-regulated betting market. It facilitates the entry of new operators into the market and encourages competition, leading to innovation, improved services, and better value for consumers.
Moreover, established responsible gambling initiatives and regulatory bodies in Europe, such as the European Gaming & Betting Association, help build trust and confidence among consumers by promoting responsible gambling practices, ensuring fairness and transparency in betting operations, and providing avenues for dispute resolution, to protect consumers and maintain the integrity of the betting market, thus driving the growth of sports betting market in the region.
Europe Sports Betting Market Report Highlights
- Based on the type of betting, the fixed odd wagering segment accounted for the highest revenue share of 27.7% in 2023 due to the stability and predictability of the payouts
- Based on platform, the online segment dominated the market in 2023 and is expected to grow at a significant CAGR from 2024 to 2030. It can be attributed to the collaborations between sports teams, leagues, and betting companies, thus increasing the visibility of sports betting and attracting a larger customer base.
- In terms of sports type, the football segment accounted for the largest revenue share in 2023. It can be attributed to the popularity of football in Europe due to popular football clubs like Real Madrid, Liverpool FC, FC Barcelona, and Manchester United.
- The UK held a significant share of 34.6% in 2023 and is expected to grow at a significant CAGR during the forecast period. Favorable gambling policies in the country drive the market’s growth.
Company Profiles
- Bet365
- Ali William Hill
- Betfair
- Paddy Power
- 888sport
- Bwin
- Unibet
- Ladbrokes
- MGM Resorts International
- Betsson
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $33.75 Billion |
| Forecasted Market Value (USD) by 2030 | $65.54 Billion |
| Compound Annual Growth Rate | 9.9% |
| Regions Covered | Europe |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Europe Sports Betting Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.1.1. Increasing number of sport events
3.2.1.2. Growing number of sporting events and leagues in Europe
3.2.2. Market restraint analysis
3.2.2.1. Lack of unified regulations
3.2.3. Market opportunity analysis
3.2.3.1. Growth in E-sports audience
3.3. Europe Sports Betting Market Analysis Tools
3.3.1. Industry Analysis – Porter’s
3.3.2. PESTEL Analysis
Chapter 4. Europe Sports Betting Market: Platform Estimates & Trend Analysis
4.1. Platform Market Share, 2023 & 2030
4.2. Segment Dashboard
4.3. Europe Sports Betting Market by Platform Outlook
4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030
4.4.1. Offline
4.4.2. Online
Chapter 5. Europe Sports Betting Market: Type Estimates & Trend Analysis
5.1. Type Market Share, 2023 & 2030
5.2. Segment Dashboard
5.3. Europe Sports Betting Market by Type Outlook
5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030
5.4.1. Fixed odds wagering
5.4.2. Exchange Betting
5.4.3. Live/In Play Betting
5.4.4. eSports Betting
5.4.5. Others
Chapter 6. Europe Sports Betting Market: Sports Type Estimates & Trend Analysis
6.1. Sports Type Market Share, 2023 & 2030
6.2. Segment Dashboard
6.3. Europe Sports Betting Market by Sports Type Outlook
6.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030
6.4.1. Football
6.4.2. Basketball
6.4.3. Baseball
6.4.4. Horse Racing
6.4.5. Cricket
6.4.6. Hockey
6.4.7. Others
Chapter 7. Europe Sports Betting Market: Regional Estimates & Trend Analysis
7.1. Regional Market Share Analysis, 2023 & 2030
7.2. Regional Market Dashboard
7.3. Regional Market Snapshot
7.4. Market Size, & Forecasts Trend Analysis, 2018 to 2030
7.4.1. UK
7.4.2. Germany
7.4.3. France
7.4.4. Italy
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Company/Competition Categorization
8.3. Vendor Landscape
8.3.1. List of key distributors and channel partners
8.3.2. Key customers
8.4. Company Profiles
For more information about this report visit researchandmarkets.com
The post Europe Sports Betting Market Size, Share & Trends Analysis Report 2024-2030 Featuring Bet365, William Hill, Betfair, Paddy Power, 888sport, Bwin, Unibet, Ladbrokes, MGM, and Betsson appeared first on European Gaming Industry News.
Hard Rock International
The Mirage Hotel & Casino to Begin Transformation into Hard Rock Las Vegas on July 17, 2024
Hard Rock International (HRI) announced its plans to cease operations of The Mirage Hotel & Casino as of July 17, 2024, to begin the transformation of the property into the highly anticipated Hard Rock Hotel & Casino and Guitar Hotel Las Vegas (HRHCLV).
Hard Rock will develop a new integrated resort featuring a nearly 700 ft. guitar-shaped hotel towering prominently in the center of the famous Las Vegas Strip.
“We’d like to thank the Las Vegas community and team members for warmly welcoming Hard Rock after enjoying 34 years at The Mirage. We’d also like to thank the Unions, community leaders, local and state government organizations and the Gaming Commission for their support and fair negotiations over the past year. Also, we are grateful to MGM for assisting with our transition,” Jim Allen, Chairman of Hard Rock International, said.
“While we pause for the incredible transformation of this iconic property, I’d like to thank all team members at The Mirage for their incredible commitment and helping us provide memorable experiences for our guests. We are planning to host collaborative hiring events with other employers in the Las Vegas community over the coming months. Connecting the thousands of talented Mirage team members who provide outstanding service with new employment opportunities is a top priority,” Joe Lupo, President of The Mirage, said.
HRHCLV is expected to double the current number of jobs at The Mirage for the Las Vegas community, while the renovation of the property will generate over 2500 construction jobs. Hard Rock will pay approximately $80 million in severance packages for eligible union and non-union employees remaining with the property through cessation of operations.
International Game Technology PLC has reported financial results for the first quarter ended March 31, 2024.
“Innovative game, hardware, and systems solutions drove better-than-expected Global Lottery and Gaming & Digital performance in the first quarter. As a result, we are upgrading our full-year 2024 revenue and profit goals, which reflect broad-based momentum across key performance indicators in the balance of the year. We continue to make progress on separating Global Lottery from Gaming & Digital and preparing for the proposed transaction with Everi,” Vince Sadusky, CEO of IGT, said.
Key Highlights:
- Announced Gaming & Digital business to be spun off and combined with Everi Holdings Inc.; transaction expected to close in late 2024/early 2025
- Recognised with top honours at ICE London 2024 awards programmes including “Lottery Product of the Year” and “Best Diversity and Inclusion Employer”
- Received a supply contract extension from the UK National Lottery
- Executed licensing agreement with the Maryland Lottery for IGT’s patented Cash Pop draw-based game
- Mystery of the Lamp named “Top Performing New Premium Game” at 2024 EKG Slot Awards Show
- Awarded contract to provide PeakDual 27 video lottery terminals across Quebec
- Launched iGaming content in Rhode Island
- Achieved AAA MSCI ESG rating, the highest rating possible, and earned a gold medal sustainability rating from EcoVadis.
“We delivered a record organic profit performance in the first quarter, if we exclude Separation & divestiture costs. The Company is operating from a position of strength with historically low net debt leverage, ample liquidity, and manageable near-term debt maturities,” Max Chiara, CFO of IGT, said.
The post IGT Reports First Quarter 2024 Results appeared first on European Gaming Industry News.
eCOGRA, the leading Testing, Inspection, and Certification company serving the iGaming industry, announced two changes to its leadership structure.
Following a period of outstanding international growth, which has seen eCOGRA expand to 39 jurisdictional approvals, including most recently Peru and Brazil, as well as establish new offices in Europe and the US, the business announced Will Shuckburgh has been appointed to the newly created role of Group CEO from 1 July 2024. As part of the transition to a fully global business, the Company also announced Shaun McCallaghan, who has been with the Company for 16 years, the last 6 of which have been as CEO, will take on the new board role of Senior Director, Operations and Regulatory Affairs.
Will Shuckburgh brings a proven track record leading customer focused businesses through periods of high growth and international expansion. Will, who joined eCOGRA in January 2024, is set to assume the role of Group CEO, following a 6-month hand over period. He has previously held positions as Managing Director at Nectar, Executive Vice President & Chief Membership Officer at Rakuten, as well as Chief Executive Officer of Invincible Brands, amongst others. In these roles, he successfully designed and executed strategies, to achieve profitable growth across multiple markets where client experience was essential.
Shaun McCallaghan has been a driving force behind eCOGRA’s success in recent years. Shaun’s approach is underscored by hard work, unwavering client loyalty and service, and the building of robust regulatory business relationships. Shaun has played a key role in securing dual accreditations, expanding jurisdictional coverage, diversifying the service offering, and enlarging eCOGRA’s client and staff base, while also successfully extending Testing, Inspection, and Certification services into North and South America. These, amongst many other achievements, have helped eCOGRA continue to grow and support clients in the ever-changing regulatory environment in which they operate.
Shaun now looks forward to taking up his newly formed role of Senior Director, Operations and Regulatory Affairs. This role will focus on ensuring clients will continue to receive the same high quality and reliable services that they have been accustomed to from eCOGRA. Shaun will continue to be a member of the board.
Mark Brooker, the Group Chairman, said: “Will’s appointment brings fresh energy, insight and strategic vision, aligning perfectly with eCOGRA’s commitment to excellence across each of its markets. The changes also reflect eCOGRA’s commitment to stability and innovation, with Shaun continuing to play a key role in the Company’s future success through his new role of Senior Director, Operations and Regulatory Affairs.”
David Cowan, representing the majority shareholder Hanover Investors, commented: “This transition signifies a natural evolution in eCOGRA’s leadership landscape in response to the strong growth of the business. Shaun’s transition enables a more hands-on approach to delivery, ensuring eCOGRA’s expansion maintains the highest standards of service to positively elevate the client journey. Meanwhile, Will Shuckburgh, is a seasoned high-growth CEO with an impressive track record, who brings visionary leadership and transformative abilities to the business. Known for identifying and capitalising on emerging opportunities, Will’s focus on fostering a culture of collaboration, and continuous improvement will elevate eCOGRA’s global presence. Together Will and Shaun will maintain our steadfast commitment to excellence and have the full support of the Board and the Shareholders.”
The post eCOGRA Announces Leadership Transition appeared first on European Gaming Industry News.
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