The Online Sports Betting market in United States has been experiencing significant growth in recent years.
Customer preferences: Customers in the United States have shown a strong interest in online sports betting due to its convenience and accessibility. With the rise of smartphones and mobile applications, more people are able to place bets on their favorite sports teams or events from the comfort of their own homes. This has led to an increase in the number of online sports betting platforms and apps available in the market.
Trends in the market: One of the key trends in the online sports betting market in the United States is the legalization of sports betting in several states. In 2018, the Supreme Court ruled that individual states have the authority to legalize sports betting, leading to a wave of legalization efforts across the country. This has opened up new opportunities for online sports betting operators to expand their services and reach a larger customer base. Another trend in the market is the growing popularity of in-play betting. In-play betting allows customers to place bets on sporting events while they are happening, providing a more interactive and engaging experience. This trend has been driven by advances in technology and the increasing availability of real-time data, which enables customers to make more informed decisions and place bets in real-time.
Local special circumstances: One of the unique aspects of the online sports betting market in the United States is the strong presence of professional sports leagues. The popularity of sports such as football, basketball, and baseball has contributed to the growth of online sports betting, as fans are eager to bet on their favorite teams and players. Additionally, the United States has a strong culture of sports fandom, with many people following and supporting their local teams. This has created a large and dedicated customer base for online sports betting operators.
Underlying macroeconomic factors: The growth of the online sports betting market in the United States can be attributed to several underlying macroeconomic factors. Firstly, the increasing disposable income of consumers has allowed them to spend more on leisure activities, including online sports betting. Additionally, the growing popularity of online gambling and the relaxation of regulations surrounding it have created a favorable environment for the expansion of the market. Furthermore, the rise of digital technologies and the internet has made it easier for online sports betting operators to reach and engage with customers, driving the growth of the market. In conclusion, the online sports betting market in the United States is experiencing significant growth due to customer preferences for convenience and accessibility, the legalization of sports betting in several states, the popularity of in-play betting, the strong presence of professional sports leagues, and underlying macroeconomic factors such as increasing disposable income and the rise of digital technologies. This market is expected to continue to grow in the coming years as more states legalize sports betting and more customers embrace online gambling.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Gambling Revenue (GGR) and represent what consumers pay for these products and services.Modeling approach:
Market size is determined through a Top-Down approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.Forecasts:
We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is reweighted for representativeness.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
