The global sports betting market continues to maintain incredible growth in 2020. In fact, this is one of the fastest growing industries in the world, bringing huge profits to both bookmakers. Many sports betting enthusiasts in the US will certainly not be able to ignore this information.
With the burgeoning digital revolution, the industry continues to undergo new changes, increasingly expanding. But it is not that there are no reliable statistics. So it just stops the more modest numbers
According to Statista, a highly reputable data company and licensed online sports betting accounts for up to $ 39.7 billion in revenue. However, the rest is located at venues such as casinos and racecourse, dog racing.
If this pace continues, US sports betting will gain an increasingly significant share of the world market. According to a recent Statista survey, more than 50 percent of US citizens admit to having bet on a sporting event at least once in their lifetime. With the stigma still surrounding sports betting in the US, this is an astonishing survey.
With a population of over 4 billion, it is not surprising that the APAC region holds the most significant market share in the sports betting industry. It is estimated that residents who fall into the APAC region contribute up to 47 percent of world sales.
However, the economic prosperity of the rest of the region provides usable income for recreational activities. As income continues to rise in the APAC region, more and more funds are being invested in sporting events.
While all eyes are on the United States and APAC, sports betting is still growing in other parts of the world. Although growth may not seem strong or impressive in Australia and Europe, it is mainly due to the long history in these areas.