Global sports betting market to hit US$182.12 billion by 2030

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The international sports betting market is predicted to be worth US$182.12 billion by the end of the decade, according to a study by market analyst Research Insights.

The group associates global growth with expanding mobile phone and internet accessibility. The market is predicted to show a compound annual growth rate of 10.3% over the remainder of the decade.

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The research was based on an in-depth study of key players in the industry, a close analysis of trends in the global sports betting market, and the development of future opportunities. The report incorporates information on betting platforms, bet type, geography, and sport type.

Alongside the changes brought about by changing market access and consumer behavior, regulatory liberalization is expected to play a role in the market’s growth, particularly in the US and Latin American sectors.

The US sports betting industry continues to grow rapidly, while regulatory changes, such as those introduced in Brazil earlier this year, have opened up new opportunities for betting operators.

The market is also likely to be shaped by artificial intelligence and the integration of machine learning, as well as an increase in media partnerships, celebrity endorsements, and sponsorships.

Likewise, a similar study, also published by Research Insights, found that the global online gaming market is projected to hit US$153 billion by 2030.

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