According to a market report, published by Sheer Analytics and Insights, Europe sports betting market was valued at $21.1 billion in 2021 and it is expected to reach $89.9 billion at a CAGR of 13.10% between 2022 and 2032. Sports betting are commonly referred to as a bet, on the outcome of a particular sports event. There are several types of sports betting in the Europe region such as American football, basketball, baseball, hockey, track cycling, mixed martial arts, auto racing, boxing, and many more. Moreover, there are some non-human sports such as horse racing, and greyhound racing, among others. In Europe, sports betting are growing in developed countries such as France, Italy, the United Kingdom, Spain, the Netherlands, and Finland. Thus, the growing demand for sports betting in these countries is estimated to propel the growth of the Europe sports betting market during the forecast period. At present days, online gaming also holds the sports betting market and it is going mobile. The share of online bets from mobile devices such as smartphones and tablets is anticipated to take over betting from desktop computers for the first time in Europe. Hence, the rising demand for all kinds of sports betting is expected to gain significant growth during the forecast period from 2022 to 2032.
In the modern age, cloud platforms are being preferred for storing data, and there have been a burgeoning increase in online transaction and payments among commercial as well as retail users. In the last few years, consumption of digital content is increasing with the growing internet speed. The sports betting scenario has fundamentally changed with extensive digitalization and the global sports betting market has shifted toward online or virtual applications and platforms. Therefore, modern customers or users can easily engage in sports and connect with sports betting through online access by using various mobile applications or online platforms. These have helped a large number of consumers to participate in online betting events; hence this would drive the growth of the Europe sports betting market during the forecast period.
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In addition, one of the major trends in the Europe sports betting market is the growing impact of technologies such as blockchain, virtual reality, and artificial intelligence. Furthermore, European countries are offering legal gambling with different restrictions outside the United Kingdom, Germany, France, and Italy, among others. For example, in Italy, football betting took a large market share in the last few years. In the United Kingdom, horse racing took the largest betting market over the last few years. Moreover, sports betting on football and horse racing are widespread across maximum European countries such as Austria, Denmark, Germany, Norway, and Spain, among others. Strict government regulations regarding the overall gambling market across several places in Europe are expected to hinder the market growth. However, the rising demand for the application of artificial intelligence, machine learning, and blockchain technologies is estimated to propel the Europe sports betting market in the upcoming years.
According to the study, key players such as 4Rabet (Cyprus), 10Cric (India), 22Bet (Cyprus), 888 Holdings (Spain), BetVictor (United Kingdom), Betsson AB (Sweden), Bet365 Gambling (U.K), COMEON (Canada), Caesars Entertainment (U.S), Churchill Downs Incorporated (U.S), DraftKings Inc (U.S), Entain (Isle of Man), Flutter Entertainment (Ireland), Fertitta Entertainment LLC (U.S), Kindred Group (Malta), MacAndrews and Forbes Holding (U.S), MGM Resorts International (U.S), Playtech (Estonia), PariMatch (Cyprus), Paddy Power (Ireland), Rivalry Corporation (Canada), SGHC limited (U.S), The Starts Group (Canada), Webis Holdings (Isle of Man), among others are leading the Europe sports betting market.
The Europe Sports Betting Market Has Been Segmented Into:
The Europe Sports Betting Market – by Platform Type:
The Europe Sports Betting Market – by Sports Type:
The Europe Sports Betting Market – by Betting Type:
The Europe Sports Betting Market – by Regional Type:
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