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Sports Betting Market to Rise at a CAGR of 9.1% during Forecast Period, notes TMR Study




Transparency Market Research Inc. – The sports betting market size stood at US$ 279.5 Bn in 2021 and is likely to reach value of US$ 664.0 Bn by 2031. The global industry is anticipated to develop at a CAGR of 9.1% between 2022 and 2031. Predicting sports results and making a bet on the result is known as sports betting.

Growing popularity of sports around the globe is driving in sports betting among the younger generation alongside professional gamblers. The statistics for the sports betting sector are improving due to the increased use of cellphones, implementation of favorable government rules, widespread adoption of the internet, and an upsurge in online gambling.

Key players are using persuading marketing techniques, such as sign-up incentives for new customers and risk-free wagering for a predetermined period, to entice sports fans to place bets. Additionally, companies are receiving new system orders from high-growth countries including Asia Pacific and North America since more urban residents are gaining interest in sports betting.

Sports betting bookies are currently focusing on boosting their R&D efforts and using advanced facilities in order to develop distinctive betting features. It is predicted that this would drive business opportunities in the global sports betting industry.


Sports betting is becoming more popular all over the world due to rise in sports lovers. One of the rapidly growing industries is the gambling industry. Sports betting is being considered for legalization in many countries and this is anticipated to increase market demand for sports betting in the coming years. Sports gamblers use bookies or legal means to put their bets. Both internet and physical betting platforms are available for placing bets, which is anticipated to raise market value of sports betting.

The bulk of bets are placed on sports including football, basketball, American soccer, mixed martial arts, baseball, track cycling, boxing, car racing, and hockey, and boxing. While football betting is well-liked in North America and South America, online cricket betting has begun to gain traction in Asia Pacific.

Market Snapshot:

 Report Coverage  Details
 Market Revenue  US$ 279.5 Bn
 Estimated Value  US$ 664.0 Bn
 Growth Rate – CAGR  9.1%
 Forecast Period  2022-2031
 No. of Pages  136 Pages
 Market Segmentation  Game Type, Betting Type, Platform
 Regions Covered  North America, Europe, Asia Pacific, Middle East & Africa, South America
 Companies Covered  888 Holdings plc., BETSSON AB, Fortuna Entertainment Group a.s. (FEG), Entain, Gal Sports Betting (U) Limited, Kindred Group plc, Flutter, Betway, Bet365, TechSolutions Group N.V

Key Findings of Market Report

  • In terms of betting type, the fixed-odds segment is expected to account for a sizable market share due to an upsurge in successful outcomes. The risk of fixed-odds betting is also smaller than that of pari-mutuel betting as a result of the ease with which risk is assessed. This is anticipated to drive business growth in the fixed-odds segment during the forecast period.
  • In terms of game type, the cybersports segment is likely to account for sizeable market share. This is due to expansion of the e-sports business across the globe and convenience of placing bets online via smartphones in place of doing it physically.

Global Sports Betting Market: Growth Drivers

  • The rapid increase in use of internet-connected gadgets, such as tablets and smartphones, is fueling a boom in online betting worldwide. Gamblers who watch live betting have the chance to make quick decisions that, if they bet well, might guarantee them substantial gains. Consequently, it is anticipated that mobile devices like tablet computers and smartphones that support live betting would have a significant positive impact on the market for sports betting.
  • The vast majority of people watched only a few sports earlier, primarily football and basketball. However, other sports are starting to gain popularity all over the world. Table tennis, boxing, horse racing, cricket, hockey, and rugby are a few of these. Therefore, there are now more games accessible for wagering, which is likely to drive market development.

Global Sports Betting Market: Regional Landscape

  • Asia Pacific, which dominated the global industry in 2021, has seen a significant increase in the number of people who engage in betting as a pastime. The region has a large number of market players, which makes it one of the most desirable regions. China is expected to be a desirable location for business, while Japan offers tremendous potential for sports betting.

Global Sports Betting Market: Key Players

Some of the key market players are

  • Kindred Group plc.
  • 888 Holdings plc.
  • Fortuna Entertainment Group a.s. (FEG)
  • TechSolutions Group N.V.
  • Gal Sports Betting (U) Limited

Global Sports Betting Market: Segmentation

Game Type

  • Cybersports
  • Table Tennis
  • Football
  • Basketball
  • Baseball
  • Hockey
  • Cricket
  • Boxing
  • Others

Betting Type

  • Pari-mutuel
  • Fixed-Odds


  • Online
  • Offline


  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America
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Inspired Entertainment Partners with AGLC





Inspired Entertainment Inc., a leading B2B provider of gaming content, technology, hardware and services, announced that it has entered an agreement with Alberta Gaming, Liquor and Cannabis, an agency of the government of the Canadian province of Alberta that oversees casino gaming (AGLC). Following a successful six-month trial period, AGLC has committed to purchase 150 new Valor terminals. Deployment of the new terminals is expected to be completed by the end of the second quarter of 2024.

“We are delighted to welcome AGLC as a valued customer. AGLC’s decision to order 150 Valor cabinets underscores the success demonstrated during the trial period as well as the strength of our product portfolio. We look forward to a long and prosperous partnership with AGLC,” Brooks Pierce, President and Chief Executive Officer of Inspired, said.

“We remain committed to expand in the attractive Canadian markets by delivering exceptional gaming solutions with both our gaming and digital products. Adding Alberta to our existing footprints in Ontario and Saskatchewan is the next step as we continue to see growth opportunities from the Canadian markets.”

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Delasport Expands in Ontario with a new deal with Green Brick Labs





Leading iGaming supplier Delasport expands further in Ontario through a sportsbook deal with Canadian operator Green Brick Labs (GBL).

The global software company will provide its award-winning Plug & Play Sportsbook iFrame solution, so that their new partner can add it to their growing platform.

The deal is expected to come into fruition by the end of this quarter and is yet another strategic move by Delasport, who successfully obtained an Ontario license earlier this year.

‘We are happy to extend our foothold in Ontario and make it happen with a great partner like Green Brick Labs, adding to our confidence as a leading software supplier’, says Delasport’s VP of Business Development Rosaire Galea Cavallaro. ‘Our Plug & Play sportsbook iFrame solution will skyrocket GBL’s operations due to the high quality of service they will be able to provide to their customers and we couldn’t be prouder.’


The Canada-based operator shares a similar opinion and as much excitement for the new partnership:

‘This is exactly the type of product we needed and is yet another proof that we provide the best solutions on the market for our customers’, GBL’s CEO Matt Rathbun comments. ‘At GBL, we prioritize great user experience, so this deal fits our vision perfectly.’

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The Mill Adventure Partners with GeoLocs to Offer Advanced GeoLocation Services to Operators





GeoLocs, a leading provider of advanced geolocation compliance technology dedicated to the iGaming industry, is thrilled to announce its partnership with The Mill Adventure, a pioneering platform provider.

The partnership will see The Mill Adventure seamlessly integrate GeoLocs, a comprehensive geolocation service, into their platform, offering robust, precise, and secure geolocation verification for their operator partners. This integration ensures guaranteed compliance, enhances security, and prioritises player privacy (as seen by the recent ISO certification awarded to GeoLocs and mkodo), all while delivering a superior experience to users when verifying their location on iOS, Android, and desktop with no need for additional downloads or companion apps.

“We are very excited about our partnership with The Mill Adventure,” said Stuart Godfree, Managing Director of GeoLocs. “Our advanced geolocation technology perfectly complements The Mill Adventure’s cutting-edge platform, enabling operators to offer a more secure, compliant, and user-friendly gaming experience.”

The Mill Adventure is renowned for its innovative solutions that empower operators to create unique and engaging gaming experiences. By leveraging GeoLocs’ geolocation technology, The Mill Adventure will provide operators with the tools they need to ensure precise geolocation verification, fraud prevention, and adherence to local gaming regulations, as well as a unique player experience that will set their clients apart from competitors, in markets such as Ontario, Canada. This partnership emphasises both companies’ commitment to innovation, security, and regulatory compliance.


“Integrating GeoLocs’ geolocation services into our platform offering not only enhances our compliance capabilities but also allows us to offer secure and enhanced gaming experiences to operators and their users,” said Robert Bowell, Chief Operations Officer of The Mill Adventure. “This collaboration reinforces our mission to deliver top-tier solutions to the iGaming industry.”

As the iGaming industry continues to evolve, the importance of accurate geolocation services cannot be overstated. The partnership between GeoLocs and The Mill Adventure is a significant step forward in addressing these needs, providing operators with the tools necessary to thrive in a competitive market.

For more information about GeoLocs and The Mill Adventure, please visit and

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