United States Sports Betting Market Introduction and Overview
According to SPER Market Research, the United States Sports Betting Market is estimated to reach USD 27.76 billion by 2033 with a CAGR of 12.83%.
The report includes an in-depth analysis of the United States Sports Betting Market, including market size and trends, product mix, distribution channels, and supplier analysis. A form of gambling known as sports betting involves forecasting sports results and then putting a bet on those results. Fan support for a certain club or rival can be demonstrated by placing bets on games. In some societies, sports betting is more common than in others. Football, basketball, baseball, boxing, track cycling, and other sports are the most popular leagues for bettors. The likelihood of regular earnings for sports bettors is higher when they have a thorough understanding of the players and teams.
Market Opportunities and Challenges
Opportunities: The US sports betting market is mostly driven by the growing number of annual sporting events and leagues in the country, including Major League Baseball (MLB), the National Football League (NFL), the National Basketball Association (NBA), the National Hockey League (NHL), and so on. Additionally, the nation's market is expanding because to the increasing use of smartphones and the growing influence of user-friendly betting apps. Accordingly, the growing digitalization trend in the sports sector and the extensive use of wireless technology are fostering favourable conditions for the local market.
Challenges: The sports betting industry in the US is facing a number of challenges. The complicated legal environment around sports betting regulation, with numerous state-specific rules and regulations, is a major barrier. Operators aiming to provide services across several jurisdictions encounter obstacles and discrepancies due to this fragmentation. The growth of the regulated sector is further hindered by the proliferation of illegal and offshore betting sites, which compete with legitimate businesses and jeopardize consumer protection initiatives. In addition, questions of honesty and equity in sports wagering continue to be raised, particularly in relation to insider trading and match-fixing.
Market Competitive Landscape
The Sports betting market in United States is moderately consolidated. Some of the market key players are BetMGM, Bet365, Fanatics Sportsbook, ESPN BET, Draftkings Inc., Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Platform, By Betting Type, By Sports Type-
|
| Regions covered | Eastern Region, Western Region, Southern Region, Northern Region
|
| Companies Covered | BetMGM, Bet365, Fanatics Sportsbook, ESPN BET, Draftkings Inc., Others. |
COVID-19 Impact on United States Sports Betting Market
The sports betting industry in the United States has been significantly impacted by the COVID-19 outbreak. During the height of the epidemic, the sector saw a large fall in betting activity as big sporting events were canceled, postponed, or held without spectators. In addition to decreasing betting volume, the lack of live sports affected sportsbooks' revenue sources, especially those that depended significantly on major leagues such as the NFL, NBA, and MLB. But as people looked for other entertainment options while maintaining social distancing protocols, the epidemic also expedited other trends, like the uptake of online and mobile betting platforms. Operators now need to make more investments in technology and user experience to keep up with changing customer tastes as a result of the transition towards digital media.
Key Target Audience:
- Sports enthusiasts
- Bettors and gamblers
- Online gaming and gambling companies
- Investors and stakeholders in the gambling industry
- Sports leagues and organizations
Our in-depth analysis of the United States Sports Betting Market includes the following segments:
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By Platform: |
Offline
Online
|
|
By Betting Type: |
Fixed Odds Wagering
Exchange Betting
Live/In Play Betting
Pari-Mutuel
eSports Betting
Others
|
|
By Sports Type: |
Football
Basketball
Baseball
Horse Racing
Cricket
Hockey
Others
|
Key Topics Covered in the Report:
- United States Sports Betting Market Size (FY’2024-FY’2033)
- Overview of United States Sports Betting Market
- Segmentation of United States Sports Betting Market By Platform (Offline, Online)
- Segmentation of United States Sports Betting Market By Betting Type (Fixed Odds Wagering, Exchange Betting, Live/In Play Betting, Pari-Mutuel, eSports Betting, Others)
- Segmentation of United States Sports Betting Market By Betting Type (Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, Others.)
- Expansion Analysis of United States Sports Betting Market
- Problems and Obstacles in United States Sports Betting Market
- Competitive Landscape in the United States Sports Betting Market
- Impact of COVID-19 and Demonetization on United States Sports Betting Market
- Details on Current Investment in United States Sports Betting Market
- Competitive Analysis of United States Sports Betting Market
- Prominent Players in the United States Sports Betting Market
- SWOT Analysis of United States Sports Betting Market
- United States Sports Betting Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the United States Sports Betting Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. United States Sports Betting Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in United States Sports Betting Market
7. United States Sports Betting Market, By Platform (USD Million)
7.1. United States Sports Betting Market Value Share and Forecast, By Platform, 2024-2033
7.2. Offline
7.3. Online
8. United States Sports Betting Market, By Betting Type (USD Million)
8.1. United States Sports Betting Market Value Share and Forecast, By Type, 2024-2033
8.2. Fixed Odds Wagering
8.3. Exchange Betting
8.4. Live/In Play Betting
8.5. Pari-Mutuel
8.6. eSports Betting
8.7. Others
9. United States Sports Betting Market, By Sports Type (USD Million)
9.1. United States Sports Betting Market Value Share and Forecast, By Sports Type, 2024-2033
9.2. Football
9.3. Basketball
9.4. Baseball
9.5. Horse Racing
9.6. Cricket
9.7. Hockey
9.8. Others
10. United States Sports Betting Market Forecast, 2020-2033 (USD Million)
10.1. United States Sports Betting Market Size and Market Share
11. United States Sports Betting Market, By Platform, 2020-2033 (USD Million)
11.1. United States Sports Betting Market Size and Market Share By Platform (2020-2026)
11.2. United States Sports Betting Market Size and Market Share By Platform (2027-2033)
12. United States Sports Betting Market, By Betting Type, 2020-2033 (USD Million)
12.1. United States Sports Betting Market Size and Market Share By Betting Type (2020-2026)
12.2. United States Sports Betting Market Size and Market Share By Betting Type (2027-2033)
13. United States Sports Betting Market, By Sports Type, 2020-2033 (USD Million)
13.1. United States Sports Betting Market Size and Market Share By Sports Type (2020-2026)
13.2. United States Sports Betting Market Size and Market Share By Sports Type (2027-2033)
14. United States Sports Betting Market, By Region, 2020-2033 (USD Million)
14.1. United States Sports Betting Market Size and Market Share By Region (2020-2026)
14.2. United States Sports Betting Market Size and Market Share By Region (2027-2033)
14.3. Eastern Region
14.4. Western Region
14.5. Northern Region
14.6. Southern Region
15. Company Profile
15.1. BetMGM
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Bet365
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Fanatics Sportsbook
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. ESPN BET
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. Draftkings Inc.
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. List of Abbreviations
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
