United States Sports Betting (Land-Based & Online) Market Insights, Trends & Forecast 2019-2023 - ResearchAndMarkets.com

The "The US Sports Betting (Land-Based & Online) Market: Insights, Trends & Forecast (2019-2023)" report has been added to ResearchAndMarkets.com's offering.

The US sports betting market is anticipated to reach US$7.32 billion in 2023, growing at a CAGR of 56.89% during the period spanning 2019-2023.

Sports betting is a term used for gambling that involves placing a wager, which also called as bet, on the outcome of a sporting event in order to win money. It is one of the most popular forms of gambling which includes wagers placed on sports events such as football, basketball, baseball, hockey, rugby, boxing, horse racing, car racing, tennis and many others. In recent year, sports betting has also been extended to non-athletic events such as reality shows contests, political elections, interest rates, beauty contests and underground fighting. On May 2018, the federal ban on sports betting was overturned when the United States Supreme Court determined the Professional and Amateur Sports Protection Act (PASPA) was unconditional. With this, several states changed their laws with legislation that either legalizes wagering or set to do so.

Growth in the US sports betting market is mainly driven by factors such as rising economic growth, increasing adoption of internet-based devices and growing internet penetration. The market faces some challenges such as high tax rates and various government regulations. To overcome these challenges, the market would undergo certain developments such as omnichannel capability, the emergence of machine learning, and digitalization.

The US sports betting market on the basis of channel can be segmented as follows: land-based and online. In 2018, the market was dominated by land-based channel. But in 2023, the market is predicted to be dominated by online channel due to the growing digital connectivity, convenience of online betting and emergence of electronic systems to facilitate gaming competition.

Regional sports betting market of following states have been mentioned: Nevada, New Jersey, Delaware, West Virginia, Mississippi, New York and Michigan. In 2018, the US sports betting market was dominated by New York followed by Nevada and New Jersey due to the legalization of betting and economic prosperity. In 2023, the market is expected to be ruled by New York followed by New Jersey, Nevada and Michigan. The growing legalization in various states of the US, increasing disposable income and technological advancements are expected to drive the US sports betting market during the forecasted years i.e. 2019-2023.

Scope of the report:

• The report provides a comprehensive analysis of the US sports betting market along with the focus on the land-based and online market.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (William Hill Plc, Paddy Power Betfair Plc, 888 Holdings Plc, GVC Holdings, Kambi Group and Kindred Group) are also presented in detail.

Key Topics Covered:

1. Market Overview

1.1 Sports Betting

1.2 History of the US Sports Betting

1.3 The US Sports Betting Regulations

1.4 Legislative Progress Across the US

1.5 Legal Status of Sports Betting by States

2. The US Market

2.1 The US Sports Betting Market Forecast by Value

2.2 The US Sports Betting Market by Channel

2.3 The US Land-Based Sports Betting Market Forecast by Value

2.4 The US Online Sports Betting Market Forecast by Value

3. Regional Market

3.1 Nevada

3.1.1 Nevada Revenue from Sports Betting

3.1.2 Nevada Revenue Forecast from Sports Betting

3.1.3 Nevada Sports Betting Market by Channel

3.1.4 Nevada Land-Based Sports Betting Market Forecast by Value

3.1.5 Nevada Online Sports Betting Market Forecast by Value

3.1.6 Total Bet in Nevada Sports Betting Market

3.1.7 Total Bet Forecast in Nevada Sports Betting Market

3.1.8 Total Bet in Nevada Sports Betting Market Share by Sport

3.1.9 Total Bet in Nevada Sports Betting Market by Sport

3.1.10 Total Bet Forecast in Nevada Sports Betting Market by Sport

3.2 New Jersey

3.2.1 New Jersey Sports Betting Market Forecast by Value

3.2.2 New Jersey Sports Betting Market by Channel

3.2.3 New Jersey Land-Based Sports Betting Market Forecast by Value

3.2.4 New Jersey Online Sports Betting Market Forecast by Value

3.3 Delaware

3.3.1 Delaware Sports Betting Market Forecast by Value

3.3.2 Delaware Land-Based Sports Betting Market Forecast by Value

3.3.3 Delaware Online Sports Betting Market Forecast

3.4 West Virginia

3.4.1 West Virginia Sports Betting Market Forecast by Value

3.4.2 West Virginia Land-Based Sports Betting Market Forecast by Value

3.4.3 West Virginia Online Sports Betting Market Forecast by Value

3.5 Mississippi

3.5.1 Mississippi Sports Betting Market Forecast by Value

3.5.2 Mississippi Land-Based Sports Betting Market Forecast by Value

3.5.3 Mississippi Online Sports Betting Market Forecast by Value

3.6 New York

3.6.1 New York Sports Betting Market Forecast by Value

3.6.2 New York Land-Based Sports Betting Market Forecast by Value

3.6.3 New York Online Sports Betting Market Forecast by Value

3.7 Michigan

3.7.1 Michigan Sports Betting Market Forecast by Value

3.7.2 Michigan Land-Based Sports Betting Market Forecast by Value

3.7.3 Michigan Online Sports Betting Market Forecast by Value

4. Market Dynamics

4.1 Growth Drivers

4.1.1 Upsurge in Economic Growth

4.1.2 Rising Internet Penetration

4.1.3 Growing Adoption of Internet Based Devices

4.1.4 Legalization of Sports Betting

4.2 Key Trends & Developments

4.2.1 Emergence of Machine Learning

4.2.2 Omni-Channel Capability

4.2.3 Upsurge in Mobile Betting

4.2.4 Growing Availability of Cash Alternative

4.2.5 Digitalization in Sports Betting

4.2.6 Increasing Betting on Video Sports/E-Sports

4.3 Challenges

4.3.1 High Tax Rates

4.3.2 Regulations on Betting in Some States

5. Competitive Landscape

5.1 Global Market

5.1.1 Revenue Comparison - Key Players

5.1.2 Market Capitalization Comparison - Key Players

5.1.3 Global Exposure to Online Sports Betting - Key Players

5.2 The US

5.2.1 The US Sports Betting Market Access to the Key States by Company

5.2.2 New Jersey Online Sports Betting Market Share by Top Companies

5.2.3 Pennsylvania Land-Based Sports Betting Market Share by Top Companies

6. Company Profiles

• 888 Holdings Plc.
• GVC Holdings
• Kambi Group
• Kindred Group
• Paddy Power Betfair Plc. (Flutter Entertainment)
• William Hill Plc.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20191213005367/en/