US Online Sports Betting Market Size, Trends and Insights 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), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032


Report Code: CMI39578

Published Date: January 2024

Pages: 320+

Category: Technology

Report Snapshot

CAGR: 12.2%
5.18B
2022
5.66B
2023
16B
2032

Source: CMI

Study Period: 2023-2032
Fastest Growing Market: USA
Largest Market: USA

Major Players

  • WynnBET
  • Golden Nugget Online Gaming
  • TwinSpires DraftKings Inc.
  • FanDuel Group
  • BetMGM
  • Others

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Reports Description

As per the current market research conducted by CMI Team, the US Online Sports Betting Market is expected to record a CAGR of 12.2% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 5.66 Billion. By 2032, the valuation is anticipated to reach USD 16 Billion.

The US online sports betting market represents a dynamic and rapidly evolving sector where individuals can wager on various sports events through digital platforms. Fueled by the legalization trend, technological innovations, and strategic partnerships, prominent players like DraftKings, FanDuel, and BetMGM dominate the landscape.

These platforms offer a diverse range of betting options, live wagering features, and enticing promotional incentives to attract users. The market’s trajectory is shaped by a combination of historical factors, such as regulatory changes, and contemporary trends, including user-centric mobile applications and partnerships with influential sports entities, contributing to its growth and competitiveness.

US Online Sports Betting Market – Significant Growth Factors

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

  • Regulatory Momentum: The ongoing wave of legislative support for online sports betting across US states acts as a pivotal driver. As more states embrace legalization, the market widens, presenting operators with fresh avenues for growth and an expanded customer base.
  • Digital Innovation: Persistent technological advancements, including user-friendly mobile applications and sophisticated live betting features, propel market expansion. These innovations heighten the overall user experience, making online sports betting more accessible and attractive to a diverse demographic.
  • Collaborative Ventures: Strategic alliances between online sports betting platforms and sports leagues or media entities play a crucial role in market dynamics. Partnerships enhance brand visibility, offer exclusive content, and diversify the range of services, enticing a broader audience to engage in online betting activities.
  • Shifting Consumer Preferences: Changing consumer behavior, marked by a preference for online entertainment, contributes to market growth. The ease of accessing sports betting platforms via mobile devices aligns with evolving lifestyles, fostering increased participation in online sports betting.
  • Product Innovation Leadership: Operators have the opportunity to stand out by developing inventive products and features. Introducing novel betting options, immersive augmented reality experiences, and integrating gamification elements can differentiate platforms, capturing and retaining users in a fiercely competitive market.
  • Strategic Market Entry and Brand Building: The expanding landscape provides operators with opportunities to enter new markets strategically. Strengthening brand presence through effective marketing, sponsorships, and collaborations can establish a competitive advantage as more states endorse online sports betting, fostering sustained growth.

US Online Sports Betting Market – Mergers and Acquisitions

The US 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 US 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 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 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 US 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

US Online Sports Betting Market North America Online Gambling and Betting Market Online Sports Betting Market
CAGR 12.2% (Approx) CAGR 11.3% (Approx) CAGR 14.2% (Approx)
USD 16 Billion by 2032 USD 34685.3 Million by 2032 USD 116,787 Million by 2032

US Online Sports Betting Market – Significant Threats

The US 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: The US online sports betting market faces threats from potential changes in regulations and policies. Shifts in legislative attitudes or the imposition of restrictive regulations can impact the industry, leading to uncertainties for operators and investors.
  • Intense Competition: The market is highly competitive, with numerous operators vying for market share. Intense competition can result in price wars, aggressive marketing strategies, and thinner profit margins, posing a threat to the sustained profitability of individual companies.
  • Problem Gambling Concerns: Increased accessibility to online sports betting raises concerns about problem gambling. Regulatory bodies and public opinion may react adversely to issues related to addiction and irresponsible gambling practices, leading to potential regulatory crackdowns and reputational risks for operators.
  • Cybersecurity Risks: The online nature of sports betting exposes operators to cybersecurity threats. Data breaches, hacking incidents, or other cyber-attacks can compromise user information, erode trust, and lead to legal consequences, posing a significant threat to the industry’s overall integrity.
  • Sports Integrity and Match-Fixing: The US online sports betting market is vulnerable to threats related to sports integrity. Match-fixing scandals and concerns about the manipulation of sporting events for betting purposes can undermine public trust, trigger regulatory interventions, and adversely impact the credibility of the entire industry. Operators need to invest in robust measures to safeguard against such threats and maintain the integrity of sports betting.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 5.66 Billion
Projected Market Size in 2032 USD 16 Billion
Market Size in 2022 USD 5.18 Billion
CAGR Growth Rate 12.2% CAGR
Base Year 2022
Forecast Period 2023-2032
Key Segment By Type, Sports Type, Leagues and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Country Scope US
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

By Type

  • Line-In-Play: Line-In-Play involves live betting on ongoing sports events. In the US online sports betting market, this dynamic type allows users to place wagers in real-time, responding to the evolving game situations. A growing trend, it capitalizes on the excitement of live sports and enhances user engagement.
  • Fixed Odds Betting: Fixed Odds Betting refers to traditional wagering with fixed odds determined at the time of placing the bet. In the US market, this stable and familiar form of betting remains popular, providing consistency and simplicity for users, especially those new to online sports betting.
  • Daily Fantasy Sports: Daily Fantasy Sports (DFS) involves creating virtual teams and competing based on real players’ performances. In the US, DFS has seen significant growth, blending sports and gaming. Its trend is marked by strategic partnerships with major sports leagues and increased user participation.
  • E-Sports: E-Sports betting involves wagering on competitive video gaming. In the US online sports betting market, the E-Sports segment has witnessed a surge in popularity, driven by the growing interest in gaming. The trend includes expanding betting options and partnerships between betting platforms and E-Sports leagues.
  • Sports Exchange: Sports Exchange platforms enable users to both back and lay bets against each other. In the US, this form of peer-to-peer betting is gaining traction, offering a unique betting experience. The trend includes increased liquidity and a more dynamic marketplace for users.
  • Spread Betting: Spread Betting involves wagering on the accuracy of an outcome rather than a simple win or lose scenario. In the US, this type of betting is gaining attention for its strategic depth. The trend includes a rise in popularity, particularly among experienced bettors seeking more nuanced options.
  • Others: The “Others” category encompasses diverse and emerging betting types in the US online sports betting market. This segment is marked by continuous innovation, introducing unique and specialized betting options to cater to specific interests and preferences, reflecting the evolving nature of the industry.

US Online Sports Betting Market 2023–2032 (By Billion)

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By Sports Type

  • Football: US online sports betting on football, encompassing NFL and college games, remains a major driver. Trends include live in-play betting, prop bets, and fantasy football integration, enhancing fan engagement.
  • Cricket: Cricket’s popularity is growing in US online sports betting, fueled by international leagues. Trends feature expanded betting markets, in-play options, and a rise in proposition bets based on player performances.
  • Tennis: Tennis betting on US online platforms is rising, with a focus on major tournaments. In-play betting, player-specific markets, and virtual tennis options are key trends.
  • Baseball: Online sports betting on baseball sees strong participation, emphasizing MLB events. Player performance, inning-by-inning bets, and specialized markets like home run predictions are trending in this segment.
  • Volleyball: While less prominent, volleyball betting is gaining traction, especially during major tournaments. Live betting options, match-specific markets, and augmented reality experiences drive trends.
  • Basketball: Basketball, particularly the NBA, dominates US online sports betting. In-play wagers, player-specific bets, and the integration of social elements for fan interaction are popular trends, enhancing the overall user experience.
  • Hockey: Hockey betting is prominent, particularly during NHL seasons. In-play betting, proposition bets related to player performance, and virtual reality experiences are notable trends.
  • Horse Riding: Horse racing retains a dedicated following in US online sports betting. Trends include advanced analytics for betting strategies, virtual horse racing options, and interactive live streaming.
  • Boxing: Online sports betting on boxing is on the rise, with major bouts driving interest. Prop bets, live betting, and virtual reality simulations enhance the overall boxing betting experience.
  • Golf: Golf enjoys a niche in US online sports betting, with major tournaments attracting wagers. Player-centric bets, live betting, and the integration of augmented reality for immersive experiences are evolving trends.
  • Racing: Beyond traditional horse racing, motorsports and NASCAR contribute to the racing segment. Live betting during races, driver-specific bets, and the use of predictive analytics are key trends.
  • Others: A diverse range of sports, from esports to mixed martial arts, constitutes the “Others” category. Trends include the integration of virtual sports, expanding markets for emerging sports, and personalized betting experiences driven by artificial intelligence and machine learning.

By Leagues 

  • Cricket: Cricket, a popular sport globally, is gaining traction in US online sports betting. The market sees increased interest in international matches, T20 leagues, and innovative betting options, driven by a growing immigrant population and the sport’s expanding popularity.
  • MLB (Major League Baseball): MLB fuels the US online sports betting market with a rich tradition and a multitude of betting opportunities. Live in-game betting, player-specific wagers, and prop bets enhance the fan experience, driving engagement and market growth.
  • NBA (National Basketball Association): The NBA plays a pivotal role in the US online sports betting market. With a fast-paced game and a global fan base, trends include live betting, fantasy basketball integration, and player performance bets, contributing to the market’s dynamic growth.
  • NFL (National Football League): The NFL dominates US online sports betting with widespread fan engagement. Trends include prop bets on individual player performances, in-play betting during games, and the Super Bowl’s immense betting frenzy, amplifying the market’s significance and growth.
  • NHL (National Hockey League): The NHL contributes to the US online sports betting market with a fervent fan base. Increasing interest in live betting, prop bets on player statistics, and the Stanley Cup’s prominence propel market growth, offering diverse options for hockey enthusiasts.
  • LOL (League of Legends – Esports): LOL, a leading esports title, shapes the US online sports betting market. Esports betting sees a surge with in-play wagers, team-specific bets, and fantasy esports gaining popularity, reflecting the evolving landscape and the intersection of gaming and sports betting.

US Online Sports Betting Market 2023–2032 (By Leagues)

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Competitive Landscape – US Online Sports Betting Market

The US 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:

  • WynnBET
  • Golden Nugget Online Gaming
  • TwinSpires DraftKings Inc.
  • FanDuel Group
  • BetMGM
  • Caesars Entertainment Corporation
  • PointsBet
  • William Hill
  • Barstool Sportsbook
  • 888 Holdings
  • FOX Bet
  • BetRivers
  • Unibet (Kindred Group)
  • theScore Bet
  • Others

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

New players entering the US online sports betting market, such as Barstool Sportsbook, have adopted innovation and development to disrupt the industry. Barstool, leveraging its media influence, introduced creative marketing strategies and user-friendly apps. Dominant players like DraftKings, FanDuel, and BetMGM, established their market leadership through early entry, strategic partnerships, and technological advancements.

These key players offer diverse betting options, live features, and aggressive promotional incentives, attracting a substantial user base. Their brand recognition, expansive market presence, and continuous innovation solidify their dominance in the competitive landscape, setting industry standards.

US Online Sports Betting Market 2023–2032 (By Type)

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The US 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

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 US Online Sports Betting Market, (2023 – 2032) (USD Billion)
    • 2.2 US Online Sports Betting Market: snapshot
  • Chapter 3. US Online Sports Betting Market – Industry Analysis
    • 3.1 US 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.
      • 3.2.18 Regulatory Momentum
      • 3.2.19 Digital Innovation
      • 3.2.20 Collaborative Ventures
      • 3.2.21 Shifting Consumer Preferences
      • 3.2.22 Product Innovation Leadership
      • 3.2.23 Strategic Market Entry and Brand Building.
    • 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. US Online Sports Betting Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 US 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, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. US Online Sports Betting Market – Type Analysis
    • 5.1 US Online Sports Betting Market Overview: By Type
      • 5.1.1 US Online Sports Betting Market Share, By Type, 2022 and 2032
    • 5.2 Line-In-Play
      • 5.2.1 US Online Sports Betting Market by Line-In-Play, 2023 – 2032 (USD Billion)
    • 5.3 Fixed Old Betting
      • 5.3.1 US Online Sports Betting Market by Fixed Old Betting, 2023 – 2032 (USD Billion)
    • 5.4 Daily Fantasy Sports
      • 5.4.1 US Online Sports Betting Market by Daily Fantasy Sports, 2023 – 2032 (USD Billion)
    • 5.5 E-Sports
      • 5.5.1 US Online Sports Betting Market by E-Sports, 2023 – 2032 (USD Billion)
    • 5.6 Sports Exchange
      • 5.6.1 US Online Sports Betting Market by Sports Exchange, 2023 – 2032 (USD Billion)
    • 5.7 Spread Betting
      • 5.7.1 US Online Sports Betting Market by Spread Betting, 2023 – 2032 (USD Billion)
    • 5.8 Others
      • 5.8.1 US Online Sports Betting Market by Others, 2023 – 2032 (USD Billion)
  • Chapter 6. US Online Sports Betting Market – Sports Type Analysis
    • 6.1 US Online Sports Betting Market Overview: By Sports Type
      • 6.1.1 US Online Sports Betting Market Share, By Sports Type, 2022 and 2032
    • 6.2 Football
      • 6.2.1 US Online Sports Betting Market by Football, 2023 – 2032 (USD Billion)
    • 6.3 Cricket
      • 6.3.1 US Online Sports Betting Market by Cricket, 2023 – 2032 (USD Billion)
    • 6.4 Tennis
      • 6.4.1 US Online Sports Betting Market by Tennis, 2023 – 2032 (USD Billion)
    • 6.5 Baseball
      • 6.5.1 US Online Sports Betting Market by Baseball, 2023 – 2032 (USD Billion)
    • 6.6 Volleyball
      • 6.6.1 US Online Sports Betting Market by Volleyball, 2023 – 2032 (USD Billion)
    • 6.7 Basketball
      • 6.7.1 US Online Sports Betting Market by Basketball, 2023 – 2032 (USD Billion)
    • 6.8 Hockey
      • 6.8.1 US Online Sports Betting Market by Hockey, 2023 – 2032 (USD Billion)
    • 6.9 Horse Riding
      • 6.9.1 US Online Sports Betting Market by Horse Riding, 2023 – 2032 (USD Billion)
    • 6.10 Boxing
      • 6.10.1 US Online Sports Betting Market by Boxing, 2023 – 2032 (USD Billion)
    • 6.11 Golf
      • 6.11.1 US Online Sports Betting Market by Golf, 2023 – 2032 (USD Billion)
    • 6.12 Racing
      • 6.12.1 US Online Sports Betting Market by Racing, 2023 – 2032 (USD Billion)
    • 6.13 Others
      • 6.13.1 US Online Sports Betting Market by Others, 2023 – 2032 (USD Billion)
  • Chapter 7. US Online Sports Betting Market – Leagues Analysis
    • 7.1 US Online Sports Betting Market Overview: By Leagues
      • 7.1.1 US Online Sports Betting Market Share, By Leagues, 2022 and 2032
    • 7.2 Cricket
      • 7.2.1 US Online Sports Betting Market by Cricket, 2023 – 2032 (USD Billion)
    • 7.3 MLB
      • 7.3.1 US Online Sports Betting Market by MLB, 2023 – 2032 (USD Billion)
    • 7.4 NBA
      • 7.4.1 US Online Sports Betting Market by NBA, 2023 – 2032 (USD Billion)
    • 7.5 NFL
      • 7.5.1 US Online Sports Betting Market by NFL, 2023 – 2032 (USD Billion)
    • 7.6 NHL
      • 7.6.1 US Online Sports Betting Market by NHL, 2023 – 2032 (USD Billion)
    • 7.7 LOL
      • 7.7.1 US Online Sports Betting Market by LOL, 2023 – 2032 (USD Billion)
  • Chapter 8. US Online Sports Betting Market – Regional Analysis
    • 8.1 US Online Sports Betting Market Regional Overview
    • 8.2 US Online Sports Betting Market Share, by Region, 2022 & 2032 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 WynnBET
      • 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 Golden Nugget Online Gaming
      • 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 TwinSpires DraftKings Inc.
      • 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 FanDuel Group
      • 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 BetMGM
      • 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 PointsBet
      • 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 William Hill
      • 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 Barstool Sportsbook
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 888 Holdings
      • 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 FOX Bet
      • 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 BetRivers
      • 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 Unibet (Kindred Group)
      • 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 theScore Bet
      • 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 Others.
      • 9.15.1 Overview
      • 9.15.2 Financials
      • 9.15.3 Product Portfolio
      • 9.15.4 Business Strategy
      • 9.15.5 Recent Developments
List Of Figures

Figures No 1 to 36

List Of Tables

Tables No 1 to 2

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

  • WynnBET
  • Golden Nugget Online Gaming
  • TwinSpires DraftKings Inc.
  • FanDuel Group
  • BetMGM
  • Caesars Entertainment Corporation
  • PointsBet
  • William Hill
  • Barstool Sportsbook
  • 888 Holdings
  • FOX Bet
  • BetRivers
  • Unibet (Kindred Group)
  • theScore Bet
  • Others

FAQs

The key factors driving the Market are Regulatory Momentum, Digital Innovation, Collaborative Ventures, Shifting Consumer Preferences, Product Innovation Leadership And Strategic Market Entry and Brand Building.

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

The key players in the market are WynnBET, Golden Nugget Online Gaming, TwinSpires DraftKings Inc., FanDuel Group, BetMGM, Caesars Entertainment Corporation, PointsBet, William Hill, Barstool Sportsbook, 888 Holdings, FOX Bet, BetRivers, Unibet (Kindred Group), theScore Bet, Others.

The market is projected to grow at a CAGR of 12.2% during the forecast period, 2023-2032.

The US Online Sports Betting Market size was valued at USD 5.66 Billion in 2023.

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