United States Sports Betting Market to Grow at 12.54% During 2024-2032, Propelled by Widespread Legalization of Sports Betting

October 11, 2022 | Technology & Media

According to the latest report by IMARC Group, titled “United States Sports Betting Market Report by Platform (Offline, Online), Betting Type (Fixed Odds Wagering, Exchange Betting, Live/In Play Betting, Pari-Mutuel, eSports Betting, and Others), Sports Type (Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, and Others), and Region 2024-2032,” the United States sports betting market is expected to grow at a CAGR of 12.54% during 2024-2032. Sports betting is the act of predicting sports results and placing wagers on them, which is a way for fans to prove their expertise or loyalty to a specific team or competitor. A variety of sports are gambled upon by different cultures, but most frequently mixed martial arts, American football, basketball, baseball, hockey, track cycling, auto racing, and boxing are bet upon. Sports betting can be made online or offline, on both professional and amateur levels. Additionally, this applies to non-human contests such as greyhound racing, horse racing, and illegal cockfighting.

United States Sports Betting Market Trends:

The market in the United States is primarily driven by the legalization of sports betting activities across the country. This can be attributed to the introduction of favorable government initiatives for betting activities in a wide range of sports and non-sports activities. In line with this, the considerable rise in the popularity of the annual sports events and leagues in the United States is providing an impetus to the market growth. Also, the increasing penetration of high-speed internet and user-friendly betting apps is also impacting the market growth positively. The market is also propelled by the rising trend of digitalization in the industry along with the growing adoption of smart devices and wireless connectivity. Apart from this, the increasing integration of blockchain technology and cryptocurrencies for automating real-time data is creating a positive outlook for the market. Some of the other factors contributing to the market growth include partnerships and collaborations between online sports betting organizations and sports teams, continual advancements in predictive machine learning (ML) algorithms, inflating disposable income levels of the consumers and extensive research and development (R&D) activities conducted by the key players.

Market Summary:

Based on the platform, the market has been segmented into offline and online.
On the basis of the betting type, the market has been divided into fixed odds wagering, exchange betting, live/in play betting, pari-mutuel, esports betting, and others.
Based on the sports type, the market has been categorized into football, basketball, baseball, horse racing, cricket, hockey, and others.
On the geographical front, the market has been segregated into Northeast, Midwest, South, and West.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Platform, Betting Type, Sports Type, Region
Region Covered	Northeast, Midwest, South, West
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

United States Sports Betting Market to Grow at 12.54% During 2024-2032, Propelled by Widespread Legalization of Sports Betting

Purchase options

Single User License ~~$3699~~ $2899
Five User License ~~$4699~~ $3899
Corporate User License ~~$5699~~ $4899

Inquire Before Buying

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.