The global sports betting market continues to increase its popularity year after year. It is the fastest-growing industries in the world today. There are many opportunities for both bookies and players.
With the help of fast internet, the global sports betting market continues to improve. In fact, it is expanding in already established markets and venturing into unchartered territories. If you are thinking of investing in the sports betting industry, this article can provide you with better understanding of the growth of the global sportsbook market.
One thing you need to consider is that it is difficult to estimate the size of the global sports betting market. It is due to the inconsistencies in record-keeping and regulations across the globe. There is no absolute authority monitoring all the markets. As a result, researchers can only rely on numbers from individual countries.
However, that method doesn’t mean the estimated global growth of the industry is unreliable. At present, the market has an estimated capitalization of $250 billion. Online sportsbooks are responsible for around $40 billion of that number
Fast Growth Rate of US Sports Betting Market
In 2009, the US sports betting market has a value of $20 billion. Its value doubled to $40 billion in 2016. At present, its current market value is around $60 to $73 billion with an annual growth of $10 billion.
If the trend continues, the US sports betting market will have a major share of the global market. According to surveys, more than 50 percent of the US population admitted placing a wager on sports at least once in their life.
The number will continue to grow as many states legalized or made the move to legalize sports betting. Also, major sports leagues have embraced sports betting instead of keeping gambling away from their organization.
Largest Sports Betting Market
The Asia-Pacific region remains the biggest sports betting market in the world. It is not a surprise considering there are more than four billion people living in the region. Researchers estimated that the region is responsible for around 47 percent of sports wagers in the world.
Responsible for the growth is the increased wealth in the region. Also, internet connectivity improved in recent years. In fact, Hong Kong and Macau remain to be two of the most prominent sports betting cities in the world.
Influence of Bookie Pay Per Head Industry in Global Sports Betting Market
The bookie pay per head industry plays a vital role in the growth of the global sports betting market. Since the 1990s, PPH companies allowed bookie startups to start their own sportsbooks without the need for a high initial capital.
In recent years, the fee for every active player has become more affordable. From $40 to $65 per active player, potential bookies can find PPH providers offering sports betting software services for as low as $5 a player.
In addition, pay per head companies offer customer service support and other technical assistance. As a result, many new online sportsbooks opened in different markets. According to Gambling Reports, the PPH industry have greatly improved its services and offer more features at an affordable price in just two decades.