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United States Sports Betting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The United States sports betting market is expected to exhibit a CAGR of 13.67% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Sports betting is a type of gambling activity that entails making predictions about sports outcomes and then placing a wager on the outcome. Bets on games allow fans to showcase their expertise or allegiance to a specific team or competitor. Sports gambling is more common in some cultures than others, with the most popular leagues for wagers being basketball, baseball, boxing, track cycling, football, etc. Sports bettors with in-depth knowledge of athletes and teams are more likely to make consistent profits.

United States Sports Betting Market Trends:

The increasing number of annual sports events and leagues in the US, such as Major League Baseball (MLB), National Football League (NFL), National Basketball Association (NBA), National Hockey League (NHL), etc., is primarily driving the United States sports betting market. Moreover, the rising penetration of smartphones along with the growing influence of user-friendly betting apps is also stimulating the market growth in the country. In line with this, the emerging trend of digitalization in the sports industry and the widespread adoption of wireless connectivity are creating a positive outlook for the regional market. Furthermore, the increasing popularity of Ripple, Bitcoin, Dogecoin, and Litecoin in the sports betting landscape is encouraging bettors towards these virtual currencies for attaining ease of transaction. In addition to this, the introduction of supportive government initiatives for the legalization of sports betting activities is also propelling the market growth. For example, sports betting became legal in eight states across the US after the enactment of the Professional and Amateur Sports Protection Act (PASPA). Apart from this, several online sports betting organizations are collaborating with various teams as a part of their marketing innovative and strategic expansions, which, in turn, is positively influencing the market across the United States. For instance, the National Basketball Association (NBA) confirmed its betting data partnership with Genius Sports Group (GSG) and Sportradar, allowing them to continue distributing official data to licensed operators. The league currently has more than 20 partnerships with gambling companies. Moreover, the increasing integration of blockchain technology with sports betting apps for automation of real-time data using smart contracts that assist in payment, past event analytics, bet confirmations, etc., is further catalyzing the regional market. In the coming years, the development of cutting-edge machine learning (ML) algorithms that aim to predict the outcomes of games is anticipated to fuel the growth of the United States sports betting market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the United States sports betting market, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on platform, betting type and sports type.

Breakup by Platform:

  • Offline
  • Online
     

Breakup by Betting Type:

  • Fixed Odds Wagering
  • Exchange Betting
  • Live/In Play Betting
  • Pari-Mutuel
  • eSports Betting
  • Others
     

Breakup by Sports Type:

  • Football
  • Basketball
  • Baseball
  • Horse Racing
  • Cricket
  • Hockey
  • Others
     

Breakup by Region:

  • Northeast  
  • Midwest  
  • South  
  • West 
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
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$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
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)

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    United States Sports Betting Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Platform
    6.1    Offline
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Online
        6.2.1 Market Trends
        6.2.2 Market Forecast
7    Market Breakup by Betting Type
    7.1    Fixed Odds Wagering
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Exchange Betting
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Live/In Play Betting
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Pari-Mutuel
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    eSports Betting
        7.5.1 Market Trends
        7.5.2 Market Forecast
    7.6    Others
        7.6.1 Market Trends
        7.6.2 Market Forecast
8    Market Breakup by Sports Type
    8.1    Football
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Basketball
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Baseball
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Horse Racing
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Cricket
        8.5.1 Market Trends
        8.5.2 Market Forecast
    8.6    Hockey
        8.6.1 Market Trends
        8.6.2 Market Forecast
    8.7    Others
        8.7.1 Market Trends
        8.7.2 Market Forecast
9    Market Breakup by Region
    9.1    Northeast 
        9.1.1 Market Trends 
        9.1.2 Market Forecast 
    9.2    Midwest 
        9.2.1 Market Trends 
        9.2.2 Market Forecast 
    9.3    South 
        9.3.1 Market Trends 
        9.3.2 Market Forecast 
    9.4    West 
        9.4.1 Market Trends 
        9.4.2 Market Forecast 
10    SWOT Analysis
    10.1    Overview 
    10.2    Strengths 
    10.3    Weaknesses 
    10.4    Opportunities 
    10.5    Threats 
11    Value Chain Analysis
12    Porters Five Forces Analysis

    12.1    Overview 
    12.2    Bargaining Power of Buyers 
    12.3    Bargaining Power of Suppliers 
    12.4    Degree of Competition 
    12.5    Threat of New Entrants 
    12.6    Threat of Substitutes 
13    Price Analysis
14    Policy and Regulatory Landscape
15    Competitive Landscape

    15.1    Market Structure 
    15.2    Key Players 
    15.3    Profiles of Key Players 

List of Figures

Figure 1: United States: Sports Betting Market: Major Drivers and Challenges
Figure 2: United States: Sports Betting Market: Sales Value (in Billion US$), 2016-2021
Figure 3: United States: Sports Betting Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: United States: Sports Betting Market: Breakup by Platform (in %), 2021
Figure 5: United States: Sports Betting Market: Breakup by Betting Type (in %), 2021
Figure 6: United States: Sports Betting Market: Breakup by Sports Type (in %), 2021
Figure 7: United States: Sports Betting Market: Breakup by Region (in %), 2021
Figure 8: United States: Sports Betting (Offline) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: United States: Sports Betting (Offline) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: United States: Sports Betting (Online) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: United States: Sports Betting (Online) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: United States: Sports Betting (Fixed Odds Wagering) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: United States: Sports Betting (Fixed Odds Wagering) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: United States: Sports Betting (Exchange Betting) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: United States: Sports Betting (Exchange Betting) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: United States: Sports Betting (Live/In Play Betting) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: United States: Sports Betting (Live/In Play Betting) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: United States: Sports Betting (Pari-Mutuel) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: United States: Sports Betting (Pari-Mutuel) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: United States: Sports Betting (eSports Betting) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: United States: Sports Betting (eSports Betting) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: United States: Sports Betting (Other Betting Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: United States: Sports Betting (Other Betting Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: United States: Sports Betting (Football) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: United States: Sports Betting (Football) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: United States: Sports Betting (Basketball) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: United States: Sports Betting (Basketball) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: United States: Sports Betting (Baseball) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: United States: Sports Betting (Baseball) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: United States: Sports Betting (Horse Racing) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: United States: Sports Betting (Horse Racing) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: United States: Sports Betting (Cricket) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: United States: Sports Betting (Cricket) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: United States: Sports Betting (Hockey) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: United States: Sports Betting (Hockey) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: United States: Sports Betting (Other Sport Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: United States: Sports Betting (Other Sport Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Northeast: Sports Betting Market: Sales Value (in Million US$), 2016 & 2021 
Figure 39: Northeast: Sports Betting Market Forecast: Sales Value (in Million US$), 2022-2027 
Figure 40: Midwest: Sports Betting Market: Sales Value (in Million US$), 2016 & 2021 
Figure 41: Midwest: Sports Betting Market Forecast: Sales Value (in Million US$), 2022-2027 
Figure 42: South: Sports Betting Market: Sales Value (in Million US$), 2016 & 2021 
Figure 43: South: Sports Betting Market Forecast: Sales Value (in Million US$), 2022-2027 
Figure 44: West: Sports Betting Market: Sales Value (in Million US$), 2016 & 2021 
Figure 45: West: Sports Betting Market Forecast: Sales Value (in Million US$), 2022-2027 
Figure 46: United States: Sports Betting Industry: SWOT Analysis 
Figure 47: United States: Sports Betting Industry: Value Chain Analysis 
Figure 48: United States: Sports Betting Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: United States: Sports Betting Market: Key Industry Highlights, 2021 and 2027
Table 2: United States: Sports Betting Market Forecast: Breakup by Platform (in Million US$), 2022-2027
Table 3: United States: Sports Betting Market Forecast: Breakup by Betting Type (in Million US$), 2022-2027
Table 4: United States: Sports Betting Market Forecast: Breakup by Sports Type (in Million US$), 2022-2027
Table 5: United States: Sports Betting Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: United States: Sports Betting Market: Competitive Structure
Table 7: United States: Sports Betting Market: Key Players


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Key Questions Answered in This Report

We expect the United States sports betting market to exhibit a CAGR of 13.67% during 2022-2027.

The increasing number of annual sports events and leagues across the US, along with the growing integration of blockchain technology with sports betting apps for automating real-time data, is primarily driving the United States sports betting market.

The sudden outbreak of the COVID-19 pandemic has led to the rising adoption of online betting and increasing utilization of various virtual currencies, such as Ripple, Bitcoin, Dogecoin, etc., for administering transactions, owing to the temporary closure of numerous retail sports-betting across the nation.

Based on the platform, the United States sports betting market can be categorized into offline and online, where offline holds the largest market share.

Based on the betting type, the United States sports betting market has been segregated into fixed odds wagering, exchange betting, live/in play betting, pari-mutuel, eSports betting, and others. Among these, live/in play betting currently accounts for the majority of the total market share.

Based on the sports type, the United States sports betting market can be bifurcated into football, basketball, baseball, horse racing, cricket, hockey, and others. Currently, football exhibits a clear dominance in the market.

On a regional level, the market has been classified into Northeast, Midwest, South, and West, where South currently dominates the United States sports betting market.

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