Report Code: CMI39565

Published Date: January 2024

Pages: 320+

Category: Technology

Report Snapshot

CAGR: 12.4%
6.57B
2022
7.18B
2023
20.61B
2032

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: North America
Largest Market: North America

Major Players

  • DraftKings Inc.
  • FanDuel Group
  • BetMGM
  • PointsBet
  • William Hill plc
  • Others

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Reports Description

As per the current market research conducted by CMI Team, the North America Online Sports Betting Market is expected to record a CAGR of 12.4% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 7.18 Billion. By 2032, the valuation is anticipated to reach USD 20.61 Billion.

The North America online sports betting market represents the digital platform for wagering on sports events across the United States and Canada. Fueled by the increasing legalization of sports betting in various jurisdictions, the market showcases a competitive landscape with key players like DraftKings, FanDuel, and BetMGM.

Technological advancements, strategic partnerships, and a shift in consumer behavior toward mobile platforms have driven growth. Despite initial disruptions due to the COVID-19 pandemic, the market has demonstrated resilience through innovative features, promotional efforts, and an expanding array of betting options, creating a dynamic and evolving industry.

North America Online Sports Betting Market – Significant Growth Factors

The North America Online Sports Betting Market presents significant growth opportunities due to several factors:

  • Legalization and Regulation: The ongoing trend of legalizing and regulating online sports betting in various states and provinces is a major driver. As more regions permit and establish frameworks for online sports wagering, it opens up new markets and opportunities for operators, fostering market growth.
  • Technological Advancements: Continuous technological innovations, including user-friendly mobile apps, live streaming, and interactive features, are driving the market. The integration of advanced technologies enhances the overall user experience, making online sports betting more accessible and engaging for a broader audience.
  • Strategic Partnerships: Collaborations between online sports betting operators and established entities such as sports leagues, teams, and casinos provide strategic advantages. Partnerships contribute to brand visibility, access to a wider customer base, and the ability to offer diverse and exclusive betting opportunities.
  • Changing Consumer Behavior: Shifting consumer preferences toward online platforms and mobile betting are significant drivers. The convenience and accessibility of online sports betting align with changing lifestyles, particularly among a younger, tech-savvy demographic, leading to increased market participation.
  • Expansion of Live Betting and In-Play Wagering: The growing popularity of live betting presents an opportunity for operators to expand their offerings. Real-time wagering during live sports events enhances user engagement and provides a dynamic and interactive betting experience, attracting a broader audience.
  • Innovation in Virtual Sports and Esports Betting: There is an opportunity for operators to capitalize on the rising interest in virtual sports and esports. Introducing innovative betting options within these categories can attract a new segment of users, tapping into the evolving landscape of sports entertainment and creating additional revenue streams for the online sports betting market.

North America Online Sports Betting Market – Mergers and Acquisitions

The North America Online Sports Betting Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the North America Online Sports Betting Market include:

  • In 2022, Bingo World collaborates with Rush Street Interactive to introduce the BetRivers retail sportsbook in Maryland. Eligible bettors, aged 21 and over, can access a range of betting options, including parlays and in-game bets, via 12 self-service kiosks and three over-the-counter machines at the new retail sportsbook.
  • In 2022, BetRivers has launched its regulated online casino and sportsbook in Ontario, Canada. The platform is live on BetRivers.ca and the BetRivers mobile applications, allowing eligible players aged 19 and older across the province to sign up and engage in online wagering.
  • In 2021, BetRivers has signed an exclusive partnership with the Field of 68 Media Network, expanding into college football with the Field of 12. The collaboration involves five weekly podcasts featuring former college football stars, covering Power Five conferences, and a live Saturday night broadcast reacting to the day’s biggest games and stories.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the North America Online Sports Betting Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

North America Online Sports Betting Market Europe Online Gambling and Betting Market Online Sports Betting Market
CAGR 12.4% (Approx) CAGR 11% (Approx) CAGR 14.2% (Approx)
USD 20.61 Billion by 2032 USD 84,530.2 Million by 2032 USD 116,787 Million by 2032

North America Online Sports Betting Market – Significant Threats

The North America Online Sports Betting Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

  • Regulatory Uncertainty: Ongoing and potential changes in regulatory environments pose a significant threat to the North America online sports betting market. Shifts in legal frameworks, new regulations, or reversals of previously favorable laws could impact market access and create uncertainties for operators, potentially limiting growth.
  • Competition and Market Saturation: The increasing number of operators entering the market intensifies competition, potentially leading to market saturation. This heightened competition may result in pricing wars, reduced profit margins, and challenges in differentiating services, posing a threat to the profitability and sustainability of some operators.
  • Cybersecurity Risks: The online nature of sports betting exposes operators to cybersecurity threats. The potential for data breaches, hacking incidents, or other cybersecurity vulnerabilities could compromise user trust and lead to legal and financial repercussions. Protecting sensitive customer information is crucial to maintaining the integrity of online sports betting platforms.
  • Public Perception and Responsible Gambling Concerns: Negative public perception, fueled by concerns about problem gambling, could lead to increased scrutiny and regulatory intervention. If the industry fails to address responsible gambling practices adequately, it risks facing backlash from regulators, the public, and advocacy groups, affecting both reputation and operational freedom.
  • Unforeseen External Factors (e.g., Health Crises): External factors, such as unexpected health crises, natural disasters, or global events, can impact the online sports betting market. The COVID-19 pandemic demonstrated the vulnerability of the market to unforeseen external factors, disrupting live sports events and leading to economic challenges. Similar unforeseen events could pose threats to market stability and growth.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 7.18 Billion
Projected Market Size in 2032 USD 20.61 Billion
Market Size in 2022 USD 6.57 Billion
CAGR Growth Rate 12.4% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Type, Sports Type, Leagues and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

By Type

  • Live-In-Play Betting: Offering real-time wagers during live sports events, Line-In-Play is witnessing growing popularity in North America, driven by heightened user engagement and dynamic betting experiences. Technological advancements and increased access to live streaming contribute to the trend’s momentum, enhancing the overall online sports betting experience.
  • Fixed Odds Betting: Fixed Odds Betting involves placing bets on predetermined odds. In North America, this traditional form remains a cornerstone of online sports betting, with operators leveraging technology to enhance user interfaces, provide diverse betting options, and ensure competitive odds to attract and retain customers.
  • Daily Fantasy Sports (DFS): Daily Fantasy Sports, a skill-based form of sports gaming, thrives in North America. With its unique blend of sports knowledge and strategy, DFS engages users. Growing partnerships with sports leagues and teams enhance market visibility, contributing to the sustained popularity of DFS in the region.
  • E-Sports Betting: E-Sports Betting on competitive video gaming is a rapidly expanding segment in North America. Fueled by the rise of professional gaming leagues and tournaments, E-Sports Betting caters to a tech-savvy audience. Continuous innovation in betting options and partnerships with gaming platforms contribute to its upward trajectory.
  • Sports Exchange: Sports Exchange platforms facilitate peer-to-peer betting, allowing users to both back and lay bets. In North America, this trend is gaining traction due to increased liquidity, better odds, and the ability to trade positions. Sports Exchanges provide an alternative and dynamic betting experience for users.
  • Spread Betting: Spread Betting involves predicting the outcome’s accuracy rather than a fixed win/lose scenario. In North America, it’s gaining popularity due to its interactive nature. With diverse spreads offered, operators are tapping into this trend, providing a unique and engaging betting experience for sports enthusiasts in the region.
  • Others: The “Others” category in North America includes innovative and emerging betting formats, such as virtual sports, novelty betting, and social betting platforms. Operators are experimenting with diverse offerings to cater to evolving consumer preferences, contributing to the dynamism of the online sports betting market in the region.

North America Online Sports Betting Market 2023–2032 (By Billion)

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By Sports Type

  • Football: Online sports betting on football in North America involves wagering on NFL and college football games. The trend sees a surge in prop bets, live betting, and fantasy football integrations, enhancing the overall fan engagement.
  • Cricket: While cricket has a global fan base, North American betting trends focus on major international tournaments. The market sees growth in live betting, player prop bets, and fantasy cricket platforms.
  • Tennis: North America’s online tennis betting market is characterized by wagering on major tournaments like the US Open. Live betting, set-specific bets, and player performance props are gaining popularity.
  • Baseball: Betting on MLB games dominates baseball’s online sports betting market in North America. Trends include inning-specific bets, player props, and live betting, enhancing the fan experience.
  • Volleyball: Volleyball betting focuses on professional leagues and international competitions. Live betting on point outcomes, set winners, and match results is a growing trend in North America.
  • Basketball: NBA games drive basketball betting trends. North America’s market sees a rise in in-play betting, player prop bets, and fantasy basketball integrations, enhancing the overall betting experience.
  • Hockey: NHL games dominate hockey betting trends, with a focus on live betting, period-specific wagers, and player performance props in North America’s online sports betting market.
  • Horse Riding: Horse racing betting remains popular, emphasizing major races like the Kentucky Derby. Trends include exotic bets, live race streaming, and digital platforms for horse betting in North America.
  • Boxing: Betting on boxing matches in North America involves traditional wagers on winners, rounds, and method of victory. Trends include an increase in prop bets, live betting, and cross-sport promotions.
  • Golf: Golf betting in North America centers on major tournaments like The Masters. Trends include live betting on individual holes, player matchups, and fantasy golf platforms.
  • Racing: Motorsports betting encompasses NASCAR and other racing events. North America sees trends in live betting, driver-specific prop bets, and digital platforms offering diverse race-related wagering options.
  • Others: Diverse sports, including MMA and esports, contribute to the North America online sports betting market. Trends include live betting, unique prop bets, and innovative wagering options to cater to varied interests.

By Leagues 

  • Cricket: Cricket betting in North America involves wagering on various cricket formats. With the popularity of T20 leagues, online platforms offer diverse betting options. The market has seen growth, driven by increased interest in international matches and domestic T20 competitions.
  • MLB (Major League Baseball): MLB betting focuses on wagering on baseball games. The North America online sports betting market witness’s substantial activity during the MLB season, with trends shifting towards live betting, prop bets, and advanced analytics-driven wagering options.
  • NBA (National Basketball Association): NBA online sports betting involves wagering on basketball games. The market trends include a surge in in-play betting, player prop bets, and the integration of fantasy sports elements. The NBA’s global appeal contributes to the market’s growth.
  • NFL (National Football League): NFL betting in North America centers around American football. The market sees a high volume of bets during the NFL season, with trends leaning towards player performance props, live betting, and the Super Bowl attracting substantial wagering activity.
  • NHL (National Hockey League): NHL online sports betting revolves around ice hockey events. The market trends include increased emphasis on live betting, prop bets on player statistics, and the growing popularity of parlays, contributing to the overall growth of the market.
  • LOL (League of Legends): LOL betting involves wagering on esports, specifically the popular game League of Legends. The North America online sports betting market reflects the esports trend, with a surge in LOL betting. This segment sees growth in live betting, fantasy esports, and diverse in-game prop bets.

North America Online Sports Betting Market 2023–2032 (By Leagues)

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Competitive Landscape – North America Online Sports Betting Market

The North America Online Sports Betting Market is highly competitive, with a large number of manufacturers and retailers operating. Some of the key players in the market include:

  • DraftKings Inc.
  • FanDuel Group
  • BetMGM
  • PointsBet
  • William Hill plc
  • Caesars Entertainment Corporation
  • 888 Holdings plc
  • Kindred Group plc (Unibet)
  • Bet365 Group Ltd.
  • The Stars Group Inc.
  • BetRivers (Rush Street Interactive)
  • Fox Bet
  • Wynn Resorts Limited
  • Barstool Sportsbook
  • Golden Nugget Online Gaming
  • Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

Emerging players like BetRivers, PointsBet, and Barstool Sportsbook are adopting innovation to enter the market. They leverage advanced technology, user-friendly apps, and unique betting features to attract a growing customer base.

Partnerships and strategic collaborations play a crucial role in their market penetration, allowing them to offer diverse and competitive services. Established leaders such as DraftKings, FanDuel, and BetMGM dominate the market.

These key players leverage strong brand presence, extensive partnerships, and technological prowess. Their innovative platforms, diverse betting options, and aggressive marketing strategies contribute to market dominance, ensuring a significant share in the competitive North America online sports betting landscape.

North America Online Sports Betting Market 2023–2032 (By Type)

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The North America Online Sports Betting Market is segmented as follows:

By Type

  • Line-In-Play
  • Fixed Old Betting
  • Daily Fantasy Sports
  • E-Sports
  • Sports Exchange
  • Spread Betting
  • Others

By Sports Type

  • Football
  • Cricket
  • Tennis
  • Baseball
  • Volleyball
  • Basketball
  • Hockey
  • Horse Riding
  • Boxing
  • Golf
  • Racing
  • Others

By Leagues

  • Cricket
  • MLB
  • NBA
  • NFL
  • NHL
  • LOL

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 North America Online Sports Betting Market, (2024 – 2033) (USD Billion)
    • 2.2 North America Online Sports Betting Market : snapshot
  • Chapter 3. North America Online Sports Betting Market – Industry Analysis
    • 3.1 North America Online Sports Betting Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Regulatory Developments
      • 3.2.2 Innovations in User Experience
      • 3.2.3 Strategic Market Entry
      • 3.2.4 Cultural Shifts and Sports Enthusiasm
      • 3.2.5 Personalized Marketing Strategies And Integration of Cryptocurrency.
      • 3.2.6 Regulatory Developments
      • 3.2.7 Innovations in User Experience
      • 3.2.8 Strategic Market Entry
      • 3.2.9 Cultural Shifts and Sports Enthusiasm
      • 3.2.10 Personalized Marketing Strategies
      • 3.2.11 Integration of Cryptocurrency.
      • 3.2.12 Legalization and Regulation
      • 3.2.13 Technological Advancements
      • 3.2.14 Strategic Partnerships
      • 3.2.15 Changing Consumer Behavior
      • 3.2.16 Expansion of Live Betting and In-Play Wagering
      • 3.2.17 Innovation in Virtual Sports and Esports Betting.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Sports Type
      • 3.7.3 Market attractiveness analysis By Leagues
  • Chapter 4. North America Online Sports Betting Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 North America Online Sports Betting Market: company market share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. North America Online Sports Betting Market – Type Analysis
    • 5.1 North America Online Sports Betting Market overview: By Type
      • 5.1.1 North America Online Sports Betting Market share, By Type, 2022 and – 2033
    • 5.2 Line-In-Play
      • 5.2.1 North America Online Sports Betting Market by Line-In-Play, 2024 – 2033 (USD Billion)
    • 5.3 Fixed Old Betting
      • 5.3.1 North America Online Sports Betting Market by Fixed Old Betting, 2024 – 2033 (USD Billion)
    • 5.4 Daily Fantasy Sports
      • 5.4.1 North America Online Sports Betting Market by Daily Fantasy Sports, 2024 – 2033 (USD Billion)
    • 5.5 E-Sports
      • 5.5.1 North America Online Sports Betting Market by E-Sports, 2024 – 2033 (USD Billion)
    • 5.6 Sports Exchange
      • 5.6.1 North America Online Sports Betting Market by Sports Exchange, 2024 – 2033 (USD Billion)
    • 5.7 Spread Betting
      • 5.7.1 North America Online Sports Betting Market by Spread Betting, 2024 – 2033 (USD Billion)
    • 5.8 Others
      • 5.8.1 North America Online Sports Betting Market by Others, 2024 – 2033 (USD Billion)
  • Chapter 6. North America Online Sports Betting Market – Sports Type Analysis
    • 6.1 North America Online Sports Betting Market overview: By Sports Type
      • 6.1.1 North America Online Sports Betting Market share, By Sports Type, 2022 and – 2033
    • 6.2 Football
      • 6.2.1 North America Online Sports Betting Market by Football, 2024 – 2033 (USD Billion)
    • 6.3 Cricket
      • 6.3.1 North America Online Sports Betting Market by Cricket, 2024 – 2033 (USD Billion)
    • 6.4 Tennis
      • 6.4.1 North America Online Sports Betting Market by Tennis, 2024 – 2033 (USD Billion)
    • 6.5 Baseball
      • 6.5.1 North America Online Sports Betting Market by Baseball, 2024 – 2033 (USD Billion)
    • 6.6 Volleyball
      • 6.6.1 North America Online Sports Betting Market by Volleyball, 2024 – 2033 (USD Billion)
    • 6.7 Basketball
      • 6.7.1 North America Online Sports Betting Market by Basketball, 2024 – 2033 (USD Billion)
    • 6.8 Hockey
      • 6.8.1 North America Online Sports Betting Market by Hockey, 2024 – 2033 (USD Billion)
    • 6.9 Horse Riding
      • 6.9.1 North America Online Sports Betting Market by Horse Riding, 2024 – 2033 (USD Billion)
    • 6.10 Boxing
      • 6.10.1 North America Online Sports Betting Market by Boxing, 2024 – 2033 (USD Billion)
    • 6.11 Golf
      • 6.11.1 North America Online Sports Betting Market by Golf, 2024 – 2033 (USD Billion)
    • 6.12 Racing
      • 6.12.1 North America Online Sports Betting Market by Racing, 2024 – 2033 (USD Billion)
    • 6.13 Others
      • 6.13.1 North America Online Sports Betting Market by Others, 2024 – 2033 (USD Billion)
  • Chapter 7. North America Online Sports Betting Market – Leagues Analysis
    • 7.1 North America Online Sports Betting Market overview: By Leagues
      • 7.1.1 North America Online Sports Betting Market share, By Leagues, 2022 and – 2033
    • 7.2 Cricket
      • 7.2.1 North America Online Sports Betting Market by Cricket, 2024 – 2033 (USD Billion)
    • 7.3 MLB
      • 7.3.1 North America Online Sports Betting Market by MLB, 2024 – 2033 (USD Billion)
    • 7.4 NBA
      • 7.4.1 North America Online Sports Betting Market by NBA, 2024 – 2033 (USD Billion)
    • 7.5 NFL
      • 7.5.1 North America Online Sports Betting Market by NFL, 2024 – 2033 (USD Billion)
    • 7.6 NHL
      • 7.6.1 North America Online Sports Betting Market by NHL, 2024 – 2033 (USD Billion)
    • 7.7 LOL
      • 7.7.1 North America Online Sports Betting Market by LOL, 2024 – 2033 (USD Billion)
  • Chapter 8. North America Online Sports Betting Market – Regional Analysis
    • 8.1 North America Online Sports Betting Market Regional Overview
    • 8.2 North America Online Sports Betting Market Share, by Region, 2022 & – 2033 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America North America Online Sports Betting Market, 2024 – 2033 (USD Billion)
        • 8.3.1.1 North America North America Online Sports Betting Market, by Country, 2024 – 2033 (USD Billion)
    • 8.4 North America North America Online Sports Betting Market, by Type, 2024 – 2033
      • 8.4.1 North America North America Online Sports Betting Market, by Type, 2024 – 2033 (USD Billion)
    • 8.5 North America North America Online Sports Betting Market, by Sports Type, 2024 – 2033
      • 8.5.1 North America North America Online Sports Betting Market, by Sports Type, 2024 – 2033 (USD Billion)
    • 8.6 North America North America Online Sports Betting Market, by Leagues, 2024 – 2033
      • 8.6.1 North America North America Online Sports Betting Market, by Leagues, 2024 – 2033 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 DraftKings Inc.
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 FanDuel Group
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 BetMGM
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 PointsBet
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 William Hill plc
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Caesars Entertainment Corporation
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 888 Holdings plc
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Kindred Group plc (Unibet)
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Bet365 Group Ltd.
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 The Stars Group Inc.
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 BetRivers (Rush Street Interactive)
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments
    • 9.12 Fox Bet
      • 9.12.1 Overview
      • 9.12.2 Financials
      • 9.12.3 Product Portfolio
      • 9.12.4 Business Strategy
      • 9.12.5 Recent Developments
    • 9.13 Wynn Resorts Limited
      • 9.13.1 Overview
      • 9.13.2 Financials
      • 9.13.3 Product Portfolio
      • 9.13.4 Business Strategy
      • 9.13.5 Recent Developments
    • 9.14 Barstool Sportsbook
      • 9.14.1 Overview
      • 9.14.2 Financials
      • 9.14.3 Product Portfolio
      • 9.14.4 Business Strategy
      • 9.14.5 Recent Developments
    • 9.15 Golden Nugget Online Gaming
      • 9.15.1 Overview
      • 9.15.2 Financials
      • 9.15.3 Product Portfolio
      • 9.15.4 Business Strategy
      • 9.15.5 Recent Developments
    • 9.16 Others.
      • 9.16.1 Overview
      • 9.16.2 Financials
      • 9.16.3 Product Portfolio
      • 9.16.4 Business Strategy
      • 9.16.5 Recent Developments
List Of Figures

Figures No 1 to 37

List Of Tables

Tables No 1 to 5

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2032

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2032
  • Market revenue estimates and forecasts up to 2032, by technology
  • Market revenue estimates and forecasts up to 2032, by application
  • Market revenue estimates and forecasts up to 2032, by type
  • Market revenue estimates and forecasts up to 2032, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • DraftKings Inc.
  • FanDuel Group
  • BetMGM
  • PointsBet
  • William Hill plc
  • Caesars Entertainment Corporation
  • 888 Holdings plc
  • Kindred Group plc (Unibet)
  • Bet365 Group Ltd.
  • The Stars Group Inc.
  • BetRivers (Rush Street Interactive)
  • Fox Bet
  • Wynn Resorts Limited
  • Barstool Sportsbook
  • Golden Nugget Online Gaming
  • Others

FAQs

The key factors driving the Market are Legalization and Regulation, Technological Advancements, Strategic Partnerships, Changing Consumer Behavior, Expansion of Live Betting and In-Play Wagering And Innovation in Virtual Sports and Esports Betting.

The “Line-In-Play” category dominated the market in 2022.

The key players in the market are DraftKings Inc., FanDuel Group , BetMGM , PointsBet, William Hill plc , Caesars Entertainment Corporation, 888 Holdings plc, Kindred Group plc (Unibet), Bet365 Group Ltd., The Stars Group Inc., BetRivers (Rush Street Interactive), Fox Bet, Wynn Resorts Limited, Barstool Sportsbook, Golden Nugget Online Gaming, Others.

The market is projected to grow at a CAGR of 12.4% during the forecast period, 2023-2032.

The North America Online Sports Betting Market size was valued at USD 7.18 Billion in 2023.

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