Press Releases
Straits Research Forecasts the Global Online Sports Betting Market Revenue to Expand at a CAGR of 11.2%, Reaching an Estimated Size of USD 1,46,363.8 Million by 2031
Online sports betting is only one of the many sports wagering methods available worldwide. Online sports betting involves forecasting sports outcomes and making bets on the development of football games. Online football betting services offer the most incredible experience with a safe and secure online sportsbook (a reference book used to monitor wagers, payments, and debts), giving a trustworthy and dependable platform to gamble and win money. The leading online betting website platforms include tools, tips, techniques, and other betting resources, although their offers vary somewhat.
Growth of High-Speed Internet Services Drives the Global Market
According to Straits Research, “The global online sports betting market was valued at USD 56,650.3 million in 2023. It is anticipated to reach USD 1,46,363.8 Million by 2032, growing at a CAGR of 11.2% over the forecast period (2024-2032).” Due to the rapid proliferation of internet-connected devices such as smartphones and tablets, online betting is a global increase. Those who observe live betting can make quick decisions that, if made correctly, might result in big profits. Therefore, live betting streaming on mobile devices such as smartphones and tablets will significantly influence the future sports betting business. The rise of internet betting is anticipated to substantially raise demand in the worldwide sports betting market during the projected period. Bookmakers provide a variety of incentives for online sports betting. These consist of bonuses for players who sign up and fund their accounts. In addition, players have access to enhanced odds, live streaming, and continuing promos. This should hasten the growth of the online sports betting industry throughout the forecast period.
Growth of Live E-Sports Coverage Platform Creates Tremendous Opportunities
E-sports investment and revenue have increased as a result of the popularity of the industry. E-sports’ appeal is largely attributable to the social component of live broadcasting and gameplay. Through video game-specific streaming sites such as Twitch and YouTube Gaming, fans can contact directly with players and teams. At the same time, more popular social networks have helped to foster these relationships. Some e-sports teams, like FaZe Clan, are branching aggressively outside of e-sports, such as into the products business, which helps build brand awareness. Thus, the expansion of live e-sports coverage platforms is projected to generate profitable chances for developing the worldwide online sports betting industry.
Regional Analysis
European online sports betting industry share is anticipated to grow at a CAGR of 12.3% during the forecast period. As a result of new game forms and play modes, sports enthusiasm and the desire to watch sports are increasing daily across Europe. It has been a significant market for players and sectors such as gaming and betting to make wagers and enjoy themselves. Europe has had gambling and betting since the 1800s, but it has reached a new level recently. With the proliferation of smartphones and technological advancements, it is now simple to run and play on the platforms provided by gambling companies. In addition, Bet365, Betsson Group, Entain, Kindred, and William Hill are a few of Europe’s most prominent players. Due to this business, almost 43,000 employments have been created in Europe. The corporations have also invested in their platforms to keep them secure and dependable for users.
Asia-Pacific is estimated to grow at a CAGR of 14.9% over the forecast period. The region is home to a growing population of more than 4.6 billion people, and an increasing number of athletic events attract individuals from various cultures. In nations where sports betting is tightly regulated or prohibited, the opportunity to access internet betting services has grown. Those who previously could not gamble can now do so securely due to the rising use of VPN software. This has proven a popular means for gamers to access localized sites and enabled them to access and play on worldwide sites.
Key Highlights
- Based on type, the global online sports betting market is divided into line-in-play, fixed old betting, daily fantasy, e-sports, exchange betting, spread betting, and others. The line-in-play segment is responsible for the largest market share and is anticipated to grow at a CAGR of 12.0% over the forecast period.
- Based on sports type, the global online sports betting market is segmented into football, cricket, tennis, baseball, volleyball, basketball, hockey, horse riding, boxing, golf, racing, and others. The football segment owns the highest market share and is expected to grow at a CAGR of 12.20% over the forecast period.
- Europe is the highest contributor to the market and is anticipated to grow at a CAGR of 12.3% during the forecast period.
Competitive Players
The key players in the global online sports betting market are Bet365, GVC Holdings PLC, William Hill Inc., Paddy Power Betfair PLC, Ladbrokes Coral Group PLC, Betsson AB, The Stars Group Inc., Sky Betting and Gaming, 888 Holdings PLC, and Kindred Group PLC.
Market News
- In January 2023, Kentucky lawmakers introduced a new bill to legalize sports betting and online poker.
- In January 2023, SIS (Sports Information Services), the leading multi-channel supplier of 24/7 live betting services, signed a deal to integrate its offering onto the platform of leading global provider BetConstruct, starting with its 24/7 Live Racing Content.
Global Online Sports Betting Market: Segmentation
By Type
- Line-In-Play
- Fixed Old Betting
- Daily Fantasy
- E-Sports
- Exchange Betting
- Spread Betting
- Others
By Sports Type
- Football
- Cricket
- Tennis
- Baseball
- Volleyball
- Basketball
- Hockey
- Horse Riding
- Boxing
- Golf
- Racing
- Others
By Regions
- North America
- Europe
- Asia-Pacific
- South America
- The Middle East and Africa
bet365
IBIA and PFA Canada join forces to provide sports integrity education to the Canadian Premier League
CPL first to benefit from CA$300,000 education fund commitment by regulated sports betting operators.
The International Betting Integrity Association (IBIA) and its members bet365, Betway and FanDuel have partnered with the Professional Footballers’ Association Canada (PFA Canada) to design a bespoke two-year sports-integrity education program for players and staff in the Canadian Premier League (CPL).
In 2024, the program – which will start in May – will educate approximately 300 players and staff about the potential threat of sports-betting related match-fixing to the integrity of the Canadian Premier League, their careers, as well as its potential to defraud sports betting operators and customers. The agreement also stipulates a repeat training in 2025 to ensure new players joining the league are also able to protect themselves from criminals and corrupters and report any suspicious activity.
Khalid Ali, CEO of IBIA, said: “IBIA’s members take their role – as responsible regulated betting operators – in protecting the integrity of sporting competition and of betting markets seriously. Alongside balanced, efficient and evidenced-based regulation, protecting soccer players, staff and officials from being targeted by criminals is an essential first step to stamping-out sports-betting related match-fixing and fraud.”
The program will include a combination of dedicated in-person trainings and online resources for players and staff in the CPL’s eight league teams. The in-person sessions will educate players on the environment in which they are operating, including rules and sanctions, as well as highlighting the scale and accuracy of technology enabled sports integrity monitoring.
Dan Kruk, Executive Director of PFA Canada, said: “IBIA has delivered sports-integrity education to over thirty-five thousand athletes in Europe since 2010, and we’re grateful that they can leverage that know-how to design a bespoke training for CPL players. At PFA Canada we understand that, despite being more resource-intensive, in-person sports integrity education is essential to gain the trust and understanding of busy athletes, and to enable full, frank and open conversations.”
The CPL’s sports-integrity education program has been enabled by a CA$300,000 commitment over three years by IBIA and its member operators bet365, Betway and FanDuel for the Canadian market, from which other sports are also expected to benefit.
“At FanDuel Canada, we recognize the critical role athlete education plays in maintaining sports integrity,” said Dale Hooper, General Manager of FanDuel Canada. “We are thrilled to expand our engagement with IBIA through this new partnership helping to build a curriculum that will help athletes understand their role in protecting sport.”
Joachim Bjerg of Betway stated: “We’re very proud to partner and support IBIA and the Professional Footballers’ Association Canada that will design, create and implement a bespoke course that will further enhance Betway’s global commitment to educating players and staff involved in sport.
“As a responsible regulated betting operator, we see our role in this sector imperative to safeguarding the integrity of sports and we very much look forward to working with IBIA on this exciting and important initiative.”
Jean-Francois Reymond, IBIA’s Education Ambassador, who will work with the PFA Canada trainers on the May launch, said: “We look forward to working with PFA Canada to further protect the Canadian Premier League from the threat of sports-betting related match-fixing. Protecting the integrity of sport means protecting the integrity of athletes. Most often through a lack of awareness, it is the athletes who are risking their careers and livelihoods. IBIA’s objective is to help build a best-in-class program for all athletes that serves to protect the integrity of Canadian sport and the careers of Canada’s athletes.”
IBIA’s sports-integrity education program is a global offering, alongside IBIA’s not-for-profit model for sharing data on suspicious sporting events with sports regulators and law enforcement, player education can significantly reduce the threat of sports betting related match-fixing. In 2024, IBIA has already trained athletes at the EUBC’s European Boxing Championships in Serbia and is in active discussion with sports governing bodies in Canada and several other jurisdictions to ensure that as many athletes as possible can benefit from sports integrity education. Please contact us if you are interested in learning more.
Zitro has made its mark at the Feria Internacional del Juego de Madrid (FIJMA 24), presenting an exciting range of products designed to captivate Spanish players. Under the slogan “Each Game, A Story”, Zitro has once again demonstrated its commitment to excellence in the gaming industry in Spain.
At the recent edition of the Madrid show, Zitro once again surprised attendees with a large display of games. Up to 13 new slot titles were presented, with mechanics never seen before by players in Spanish gaming halls, all compatible with the Mega y Más system.
Among the most outstanding products presented by Zitro at the Madrid Show was Fu Frog, a captivating title for the Allure Glare cabinet, which leaps onto the scene with up to 7 bonus links. These are powered by a trio of exclusive features, each represented by three colored frogs: the green frog multiplies prizes, the orange one doubles the bonus, and the yellow one grants extra lives.
Epic Kingdom, showcased brightly on the Altius Glare cabinet, features an innovative “3-level Link” bonus. As link symbols appear, players will unlock three extra levels of thrilling gameplay on the bonus screen, until reaching the Mega Zone, where they can win the MEGA jackpot with just one symbol.
Another of Zitro’s stars at the show was Energy Link, presented on the Fusion Glare cabinet, and featuring up to 4 different bonus links, Energy Link is the perfect evolution of Zitro’s popular games, Link King and Link Me, which are well-known to Spanish players and operators, including the player favorite, Link Up feature, allowing them to enhance each of the bonus links by raising their bet.
Games such as Billy the Pig, which features a super dynamic bonus never seen before in Spanish gaming halls, and many other games such as Drum Dynasty, Epic Empires, Boost Link King, or Boost Link Me also stood out at the show.
As for video bingo, a market segment in which the company is the leader, Zitro has showcased a variety of new and captivating titles, such as The Great Wealth or Fratelli Pizza, which feature free games, as well as Stravaganzza Da Vinci and Stravaganzza Double Bonus, which significantly enhance access to the bonus rounds in these popular games.
In addition, Zitro is taking a step forward in its online gaming universe with a diverse range of Zitro Digital games, adapting the company’s most successful games to the Digital market and including new and improved tools and features that will captivate players.
Zitro’s founder, Johnny Ortiz, stated: “We are thrilled to share our latest gaming products for the Spanish market. Fu Frog has undeniably stolen the spotlight at the show and is already a sure bet. Our award-winning portfolio boasts innovative game mechanics, recognized, across the globe, from America to Europe, and delivers fantastic results in Spanish gaming halls where they’ve already been installed. We do not doubt that these new additions, alongside upcoming releases this year, will redefine the entertainment landscape in Spain and set the bar for future trends.”
Manuela Jiménez, Zitro’s vice president, also stated: “We would like to thank everyone who visited our booth at the Madrid show. The support from customers, authorities, and visitors alike is fundamental for us, and it drives us to continue innovating and offering high-quality gaming experiences”.
Mirroring the excitement, Zitro’s Commercial Director, Vicente Fernández, expressed his satisfaction with the customer response. “The feedback we’ve received at the show has been exceptional,” he remarked. “The strong interest from operators and players highlights our games’ impact on the market”.
The post ZITRO MAKES HISTORY AT THE MADRID SHOW appeared first on European Gaming Industry News.
The United Kingdom is one of the countries represented in the largest video game competition between universities across Europe. Students from University of Roehampton, Nottingham Trent University, and Staffordshire University will fight to qualify for the Grand Final and become champions of UNIVERSITY Esports Masters (UE Masters).
After demonstrating a high level in the previous qualifiers, the British universities will have four teams participating in the UE Masters Playoffs, which will be played on the following dates: Rocket League (May 11 and 12) and VALORANT (May 25 and 26). In addition to the players from the UK, opponents representing Croatia, Belgium, France, Italy, Germany, Ukraine, Ireland, Spain, and the Netherlands will also take part. The matches can be followed on the competition’s official Twitch channel (twitch.tv/uemasters).
Two teams of University of Roehampton will seek victory in Rocket League Playoffs this weekend. On the other hand, students from Nottingham Trent University and Staffordshire University will try to be the winners in the VALORANT Playoffs in the coming weeks.
The 2023/24 edition of the UE Masters, which will distribute a total prize pool of 14,000 euros, has counted with the participation of university teams from 17 European countries and the support of Riot Games, one of the world’s leading video game developers (publishers).
Beyond of a video game competition
UNIVERSITY Esports Masters is a video game competition integrated within UNIVERSITY Esports, a global esports, gaming and technology project that is present in 26 countries on four continents and has the participation of more than 100,000 universities.
The main objectives of UNIVERSITY Esports Masters are to create a sense of community among players from all over Europe, to give them the opportunity to compete in high quality international tournaments and to provide avenues for young people to develop a career within the esports world, as well as to find a place to learn and enhance their skills.
The potential of esports and gaming in the UK
Gaming and video game competitions are positioned as one of the fastest growing sectors of the entertainment industry year on year globally. According to the statistics portal Statista, “the United Kingdom is experiencing a surge in Esports popularity, with a growing number of tournaments, teams, and dedicated arenas.”
The same source forecasts that the domestic esports market in the UK will reach revenues of £183.3 million in 2024, with a penetration rate of 27.9%. By 2028, it estimates revenues of £234 million and a market share of 33.1%.
The post Students from three British universities will fight to become champions of UE Masters appeared first on European Gaming Industry News.
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