IMARC Group's report titled "United States Sports Betting Market Report by Platform (Offline, Online), Betting Type (Fixed Odds Wagering, Exchange Betting, Live/In Play Betting, Pari-Mutuel, eSports Betting, and Others), Sports Type (Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, and Others), and Region 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on the United States sports betting market share. The market size reached US$ 8.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 24.6 Billion by 2032, exhibiting a growth rate (CAGR) of 12.54% during 2024-2032.
The landmark Supreme Court decision in 2018 that overturned the federal ban on sports wagering, authorizing states to legalize it if they choose, is the primary factor driving the United States sports betting market. This regulatory move resulted in a new age for sports betting across the US, with an increasing number of states allowing and regulating the activity, leading to huge market opportunities. Additionally, the increasing legalization has not only enhanced accessibility for consumers but also contributed to the legitimacy and growth of the market. Moreover, the widespread adoption of mobile and online betting platforms has made sports betting more accessible than ever, enabling users to place bets conveniently from their smartphones or computers, which is creating a positive outlook for the market.
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United States Sports Betting Market Trends and Drivers
The integration of advanced technologies such as artificial intelligence and blockchain is acting as another significant growth-inducing factor. Blockchain technology provides increased security and transparency for betting transactions, while artificial intelligence is being utilized to personalize user experiences and improve odds setting. Furthermore, betting firms are increasingly forming alliances with professional sports organizations and teams, which fosters mutually beneficial relationships that result in co-branded betting products and sponsorship agreements, thereby escalating market growth. In line with this, the rising shift toward in-play betting, which gives sports betting a more lively and engaging aspect by enabling bettors to place wagers on events as they happen, is projected to propel the United States sports betting market in the coming years.
United States Sports Betting Market Segmentation:
Breakup by Platform:
- Offline
- Online
Breakup by Betting Type:
- Fixed Odds Wagering
- Exchange Betting
- Live/In Play Betting
- Pari-Mutuel
- eSports Betting
- Others
Breakup by Sports Type:
- Football
- Basketball
- Baseball
- Horse Racing
- Cricket
- Hockey
- Others
Breakup by Region:
- Northeast
- Midwest
- South
- West
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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