Sport and sports betting business report for 2021
A report of sports betting business for 2021.
According to most sources, the very first record of people engaging in sports betting business activities dates back over two thousand years ago. Historians agree that the introduction of the Olympic Games by the Greeks also led to the introduction of sports betting activities.
Back in the day, Greeks used to wager on different athletic competitions. Not long after the first Olympic Games, sports betting was legalized in Ancient Rome. Following the first gladiator games, Romans started engaging in betting.
Fast forward to 2021, sports betting is one of the most widespread activities in the world. The industry is worth billions of dollars and covers a whole range of different sports activities. Sports betting is also present in almost every part of the globe.
Horse race betting was one of the very first legalized forms of sports betting in modern times. After gaining popularity in England, horse race betting spread to many other parts of the globe including the United States.
Sports betting activities are not something new considering Ancient Greeks and Romans engaged in those activities over two thousand years ago.
Following the decision of the United States Supreme Court to legalize sports betting activities, American sports bettors have wagered over $65 billion on various sports since 2018.
In just three years, dozens of new sports betting markets in the USA opened their doors. In the rest of the world, numerous countries have fully legal and regulated online sports betting industries.
Sports bettors benefit from the tough competition which exists between different online sports betting companies and platforms. With so many different reputable operators out there, finding the best odds has never been so easy.
Sports betting activities in the world
When we compare different online gambling activities, sports betting remains the most popular activity of this kind taking up around forty percent of the global online gambling market.
Next comes online casino gaming followed by online poker, bingo, and other online gambling activities. According to the latest reports, the global online sports betting market is growing at a staggering rate of 11.5% yearly.
Back in 2019, the global online sports betting market was worth around $58 billion. In 2020, the market was worth around $66 billion. According to the latest projections, the global sports betting market will reach a staggering value of $179 billion in seven years from now.
According to the latest global sports betting industry report for 2021, major players in the industry remain BetMGM, FanDuel, DraftKings, BetRivers, William Hill, 888 Holdings, Bet365 Group, Kindred Group, Caliente, Betfred, and Sports Interaction.
With 2022 just around the corner, several companies have already released their reports on the global sports betting industry for 2021. According to most of these reports, the industry will reach a value of $71 billion.
The industry is also expected to grow at an annual rate of 11% in seven years from now. Many factors are contributing to the industry’s growth with the major being the increasing internet penetration rate in key markets and the growing adoption of connected devices.
The demand for online sports betting activities is also fueled by changing regulatory and legal frameworks. Moreover, the number of sports events and leagues has been on the rise in the last couple of days and this is another major factor that increases the demand for online sports betting among older people and millennials.
The coronavirus pandemic has not negatively affected the rise of the sports betting industry despite the fact that many sports events were cancelled.
European sports betting markets lead the way in terms of revenue shares with the Asia Pacific coming next followed by the United States. According to the latest projections, European markets will retain their position in the years to come.
