The Online Sports Betting Industry in Numbers
The online betting industry has experienced a lot of growth over the years. Much of this growth can be attributed to the spread of the internet and the development of mobile technologies, which make it easier for bettors to place bets on their favorite sports right from the comfort of their homes. Some of these online betting platforms offer new betting bonuses for first-time bettors on their platform to lure more bettors to their services.
In this piece, we will examine some of the statistics in the sports betting space, where the most substantial growth is being experienced in the betting industry and the most popular sport among bettors. The size of the industry and its revenue is a hot topic for debate among various schools, and we attempt to reconcile those numbers.
How Big is Sports Betting?
The size of sports betting is quite challenging to estimate. This is because regulations and records are inconsistent across the board, and they're mostly isn't any unifying factor between them. There is no single resource that researchers can use to calculate the total size of the industry. Therefore, we would mainly rely on expert estimates based on the available data, although it might not be entirely accurate.
The international sports betting industry is estimated to have a market cap of $250 billion. Statista (a world-class data firm) reports that licensed online sportsbooks make up $39.7 billion of the total estimated revenue. The rest is gotten from stakes which are made at horse tracks, casinos, and other gambling establishments.
Recent Statistic surveys show that more than 50% of US citizens have placed bets on a sporting event at least once during their lifetime. Although there is still a stigma surrounding sports betting in the country, the US has been termed the fastest growing betting region in the world. The current largest betting region is Asia, with areas like Hong Kong and Macau bringing in the biggest bucks. Although from the available data, the US is poised to overtake the region if the current growth trajectory is maintained. Looking into European countries we see a significant interest in sports betting as well. The finns for example are incredibly intrigued by sports betting and sports in general – especially hockey. The operators have experienced a major increase in revenues since 2013. So if you’re a finn that love uudet vedonlyöntibonukset, also known as new betting bonuses, you should definitely check some of them out.
The Most Popular Sports among Bettors
European football is the sport with the highest betting volume from bettors around the world. The second closest along this line is American football. The MLB (News - Alert), NBA, and NHL, which are all American sports, also receive a notable amount of bets and so are worthy of mention. The popularity of most of these bets is the access mobile internet gives millions of bettors. The mobile internet contributes more than half of the traffic which betting sites experience.
Although horse racing is considered a niche market, it receives large betting volumes from the UK, US, Australia, South Africa, and France. These sizeable markets all contribute to the growth and development of the sports betting industry worldwide. Africa and its large viewing populations also contribute to the betting world, but most of the data isn't available for research due to the heavily fragmented markets.