Authored By: Sarah
11 Jul 2024

 Horse And Sports Betting Market to grow by USD 221.4 million between 2024-2028

According to a research report “ Horse And Sports Betting Market” by Platform (Offline betting, Online betting) Type (Fixed odds wagering, Exchange betting, Live betting, esports betting, Others) Geography (Europe, APAC, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 221.4 million at a CAGR of over 11.06% during the forecast period. The digital transformation, driven by increasing global Internet penetration, has significantly impacted the horse and sports betting market. According to The World Bank Group, approximately 60% of the world's population used the Internet in 2020. This digital shift has led to a surge in online data storage, facilitating the rise of digital payments and transactions among businesses. In the realm of horse racing and sports betting, this trend has resulted in a mass migration towards virtual and online platforms. The convenience of the Internet and the widespread use of advanced mobile applications have made horse and sports betting more accessible than ever before to consumers..

Browse market data tables, figures, and in-depth TOC on “Horse And Sports Betting Market” by Platform (Offline betting, Online betting) Type (Fixed odds wagering, Exchange betting, Live betting, esports betting, Others) Geography (Europe, APAC, North America, South America, Middle East and Africa) Global Forecast to 2028.

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By Platform, the Offline betting segment is projected to dominate the market size in 2024.

In the horse and sports betting market, fixed odds wagering offers businesses and consumers a predictable betting experience. Odds, set by bookmakers, remain constant upon bet placement, ensuring a fixed payout for winning wagers. This feature simplifies financial planning for bettors, enabling them to accurately assess potential returns and manage their budgets effectively within the context of the betting industry.

By Type, Fixed odds wagering  segment is expected to hold the largest market size for the year 2024.

The offline segment dominates the global horse and sports betting market, catering to a significant consumer base that prefers traditional betting methods. Factors such as reluctance towards technology adoption, stringent government regulations favoring offline channels, and privacy concerns have fueled the popularity of offline betting for horse racing and other sports. Local bookies offer credit betting options through betting shops and agencies, providing customers with the flexibility to defer payments.

Europe is forecasted to hold the largest market size by region in 2024.

The equine sector, encompassing horse racing and breeding, interfaces significantly with the sports betting industry. This market synergy generates substantial revenue through wagers on horse races. By leveraging advanced technology and data analysis, horse and sports betting businesses optimize operations, ensuring regulatory compliance and enhancing the user experience.

The Horse And Sports Betting Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • 888 Holdings Plc
  • Abudantia BV
  • Bet365 Group Ltd.
  • BetOnline
  • Betsson AB
  • Caesars Entertainment Inc.
  • Chancier BV
  • Churchill Downs Inc.
  • DraftKings Inc.
  • Entain Plc
  • Flutter Entertainment Plc
  • Kindred Group Plc
  • MGM Resorts International
  • Parimatch
  • PENN Entertainment Inc.
  • Sportech Plc
  • SportsBetting.ag
  • The Betway Group
  • The Hong Kong Jockey Club
  • Webis Holdings Plc
.

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Research Analysis Overview

In the dynamic world of betting, horse racing and athletic events continue to capture the interest of individuals worldwide. The horse racing market, in particular, has seen significant digitalization trends with the increasing use of mobile devices and 5G networks. Horse racing wagering, including fixed odds wagering and pure win, is now accessible to a vast number of internet users through various betting platforms. DataReportal indicates that horse racing is among the popular forms of betting, with millions of bets placed annually. Past performance and track conditions are crucial factors in making informed betting choices. Basketball and eSports betting are also gaining popularity, with many individuals turning to online betting for convenience and accessibility. The casino organization sector has embraced digital infrastructure, enabling smartphone users to place bets on horse races and other athletic events from anywhere. The integration of wireless connectivity into betting platforms has made online betting a seamless experience for users. Overall, the horse and sports betting market is thriving, with continuous innovation and digitalization trends shaping its future.

Market Research Overview

In the dynamic world of betting, the Horse and Sports market encompasses various segments, including High-volume and Low-volume segments. Betting volume is a significant factor in this industry, with Internet connectivity playing a crucial role in facilitating wagers through Physical betting windows, Off-track betting sites, and Digital platforms. Top-tier horses are a popular choice among individuals engaging in Horse racing wagering, with detailed Report coverage providing valuable insights into Track conditions, Past performance, and Predicted results. Emerging nations are embracing the digitalization trends, leading to an increase in Online betting on Horse racing and other Athletic events. Mobile devices, such as Smartphones, are increasingly being used for Fixed odds wagering on various sports like Baseball, Basketball, Horse-racing, eSports betting, and Football. Safety legislation and 5G networks are essential components of the Digital infrastructure that supports this market. Casino organizations and Internet users alike are leveraging Wireless connectivity to engage in Horse-racing, as well as other sports betting. The Football clubs, Cricket segment, Basketball segment, and Football segment are popular choices for Fixed Win bets on various Indian gambling sites. The market is continually evolving, with the integration of Mobile devices and Online betting platforms shaping the future of Horse and Sports wagering.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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