Global betting market to rise by 9% CAGR by 2022, report claims

India-based research group ReportsnReports.com has documented a new study on the rise of the global sports betting industry, with the research forecasting growth at a compound annual growth rate (CAGR) of 8.62% over the next four years.

The report, entitled Global Sports Betting Market 2018-2022, argues that the major driver of this market growth is the sports industry’s digital revolution. Consumers can now easily engage in sports betting and connect with online sportsbooks due to the ever-expanding digital realm.

With digital betting platforms enabling punters to place bets from any remote part of the world, the report argues that it is steadily becoming the fastest sector of the e-commerce industry. It also claims gamblers are preferring Internet gambling due to factors such as ease and safety.

The report mentions 888 Holdings, GVC Holdings, Kindred Group, Paddy Power Betfair and William Hill as key players in the global industry.

A corresponding report detailing the global esports industry, entitled Global Esports Market 2017-2021, was published by the same analysts, and forecasted the global esports market to grow at a CAGR of 32.28% during the period of 2017 to 2021.

Key players mentioned were Activision Blizzard, Epic Games, Nintendo, Riot Games, Valve and Wargaming.net. Other prominent vendors include EA Sports, Hi-Rez Studios and Microsoft Studios.