Global Betting Income Is Predicted to Reach $129.3B by 2028

The Vantage Market Research analysts have provided the sports betting market worldwide. The researchers have predicted even faster development of the industry motivated by the technology progress and innovation. Find below in the article more details on the annual revenue of the global betting market. Do not miss the latest news on the GBC Time website to stay tuned.

The expected global betting market’s income is $129.3 billion in 2028. To see the full growth of the industry, the comparison will show the complete picture. In 2021, the global market revenue was $74.2 billion. Considering the CAGR growth, the percentage may grow to 9.7% by 2028.

Among the main drivers of the market’s income increase are:

  • Technology and innovation development;
  • Fast-growing electro systems for growth stimulation.

The experts see the huge impact of technology development on the sports betting market. The digital platforms are the keys to a fast and flexible industry, which implies the option to place bets from any location in the world.  Moreover, the fast gadgets’ implementation also drives more implementation of the customers.

The experts also mention the 5G network as an essential and influential factor for the market’s growth.

Esports as a key to the betting CAGR growth

The analysts also have high hopes for the esports industry as a part of the betting growth. The gaming industry may motivate the sports betting sector to grow even faster. Moreover, the popularity of the games is another proof of the esports’ long path in the future. Twitch and YouTube are open for gaming streamers worldwide. The number of their followers demonstrates a high interest in gaming as well.

Read more: Here is why players are attracted to sports betting and gambling

Read more: EFL clubs aim to escape betting shirt sponsorship ban

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