Developing software and hardware innovations will also benefit the sports betting industry and impact market growth.

According to the market reports world, globally, the sports betting market is expected to grow 125.18 bn USD by 2023 with 10 CAGR. A 2021 survey examined the share of gambling participants in Great Britain and found that the National Lottery was the most popular form of gambling, with over 26 percent of the public participating in 2021. Global Sports Betting market forecasting to 2021. As the European nation with the highest gambling revenues, it may come as no surprise that many Britons participate in gambling. Global Sports Betting Market Outlook 2031 The global industry was valued at US US 302.3 Bn in 2022 It is estimated to grow at a CAGR of 9.1 from 2023 to. From April 2020 to September 2020, the GGY of non-remote betting in Great Britain was 629.26 million British pounds. Gross Gambling Yield (GGY) refers to the amount retained by gambling operators after the payment of winnings prior to operating cost deductions. Is the United Kingdom the largest gambling market in Europe? When looking further at online gaming revenues in Europe, by gambling type, the second largest slice of the market was accounted for by casino games, with 34 percent. In 2021, sports betting was leading the way when it came to online gambling, accounting for 40 percent of the total online gambling revenue in Europe. The revenue of the European online gambling market saw growth between 20 and this growth was predicted to continue over the upcoming years, reaching as much as 52 billion euros in 2026. Online gambling can include poker, casino games, sports betting, bingo, lottery, and more. With the rise of digitalization has come the rise of the online gambling market.

Sports betting industry revenue