Since the beginning of the year, when many of the competitions returned to their usual pre-pandemic pace, different international markets showed their solid present and enormous potential for future growth. Sports gambling statistics in the US suggested strong, record growth with US$387m in revenue being attributed to January alone, according to the American Gaming Association (AGA).
As a record month for nationwide sports betting, it signified a 174% year-over-year surge in revenue from 2020. In addition to the 11 states that reported record-setting wager amounts from sports betting in January, there were also two new legal jurisdictions, in Virginia and Michigan, which contributed to those statistics. Tennessee and South Dakota are among a few other states looking to finalize legislation to legalise sports betting within their borders before starting the next football season, this September 2021.
According to an article in the European Business Review, domestic sports betting revenue in the US is projected to be valued at US$7bn by 2025 and it continued saying that, according to a report by Technavio, the global sports betting market size is expected to grow by US$144.44bn between 2020-2025.
The article said: “Gross gambling revenue (GGR) in Europe was forecasted to be worth 24.7bn Euros, in 2020, including online lottery, online casinos, and sports betting. Italy, the UK, Germany, France, and Spain had the highest GGRs, respectively. In 2019, 41% of online gambling revenue in Europe came from sports betting. The region’s online gambling market was expected to be valued at US$94bn by 2024.”
“While Europe leads the way internationally for online gambling, many sportsbooks throughout Latin America remain available through traditional, land-based casinos. However, online wagering is becoming an unstoppable force,” the article concluded.
Source: GMB / G3 Newswire