The GCC sports betting market is projected to exhibit a growth rate (CAGR) of 11.22% during 2023-2028. The growing popularity of sports, the implementation of favorable government policies, and the increasing digital transformation that allow convenient access to online betting platforms thus representing some of the key factors propelling the market growth.
Sports betting is a form of gambling that includes predicting the outcomes of sporting events and placing wagers on those predictions. Individuals, known as bettors, place bets on various aspects of a game or match, such as the final score, the team or player to win, or the total number of points scored. The odds, determined by bookmakers or betting sites, reflect the probability of each outcome. It offers several sports to bet on, including football, basketball, soccer, horse racing, and cricket. The thrill and excitement of sports betting stem from the potential to win money based on one's knowledge and analysis of the sport. The growing online sports betting platforms have made it accessible to audiences. Nowadays, sports betting is gaining immense traction across the GCC region.
GCC Sports Betting Market Trends:
The market is primarily driven by the growing popularity of sports betting. In addition, the rising popularity of football, cricket, and camel racing is among the most popular. As a result, the increasing popularity of various sports events and leagues across the region is driving a surge in sports betting activities. Sports enthusiasts are avidly following their favorite teams and athletes and engaging in betting to add excitement and thrill to their sports experiences. In line with this, the increasing digitization and the rising use of laptops, mobiles, and tablets offer easy accessibility to sports betting, thus influencing market growth. Moreover, the rapid transition from traditional brick-and-mortar betting outlets to online platforms due to the convenience and accessibility offered by digital betting platforms is attracting an increasing number of sports enthusiasts who prefer placing their bets from the comfort of their homes or on the go through several devices represents another major growth-inducing factor. Besides this, several technological advancements and the introduction of sophisticated data analytics, artificial intelligence (AI), and machine learning (ML) are transforming how betting is conducted, thus accelerating market growth. Along with this, these technologies enable operators to offer personalized betting experiences, real-time odds updates, and insights based on comprehensive data analysis, enhancing customer engagement and loyalty, thus propelling market growth. Apart from this, the shift in regulatory attitudes toward gambling activities to legalize and regulate sports betting, leading to a more open and transparent market environment, further provides a positive thrust to market growth. Also, an increase in strategic partnerships and sponsorships between sports organizations and betting companies provides betting operators with valuable marketing opportunities contributing to the growth of sports events and leagues. Furthermore, the increasing disposable incomes and urbanization have led to a rise in consumer spending on leisure and entertainment activities, including sports betting, thus creating a positive market outlook across the region.
GCC Sports Betting Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the GCC sports betting market report, along with forecasts at the regional and country levels for 2023-2028. Our report has categorized the market based on platform, betting type, and sports type.
The report has provided a detailed breakup and analysis of the market based on the platform. This includes offline, and online.
Betting Type Insights:
- Fixed Odds Wagering
- Exchange Betting
- Live/In Play Betting
- eSports Betting
The report has provided a detailed breakup and analysis of the market based on the betting type. This includes fixed odds wagering, exchange betting, live/in-play betting, pari-mutuel, esports betting, and others.
Sports Type Insights:
- Horse Racing
The report has provided a detailed breakup and analysis of the market based on the sports type. This includes football, basketball, baseball, horse racing, cricket, hockey, and others.
- Saudi Arabia
The report has also provided a comprehensive analysis of all the major regional markets, which include Saudi Arabia, the UAE, Qatar, Bahrain, Kuwait, and Oman.
The report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
GCC Sports Betting Market Report Coverage:
|Base Year of the Analysis
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Betting Type
- Sports Type
|Betting Types Covered
||Fixed Odds Wagering, Exchange Betting, Live/In-Play Betting, Pari-Mutuel, Esports Betting, Others
|Sports Types Covered
||Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, Others
||Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, Oman
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report:
- How has the GCC sports betting market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the GCC sports betting market?
- What is the breakup of the GCC sports betting market on the basis of the platform?
- What is the breakup of the GCC sports betting market on the basis of betting type?
- What is the breakup of the GCC sports betting market on the basis of sports type?
- What are the various stages in the value chain of the GCC sports betting market?
- What are the key driving factors and challenges in the GCC sports betting market?
- What is the structure of the GCC sports betting market and who are the key players?
- What is the degree of competition in the GCC sports betting market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the GCC sports betting market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the GCC sports betting market.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the GCC sports betting industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.