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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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