Westford, USA, March 23, 2023 (GLOBE NEWSWIRE) -- The North America and Asia Pacific regions are expected to grow substantially in the Virtual Sports Betting market. This growth can be attributed to several factors, such as the increasing accessibility, convenience, availability, security, and alternative sources of entertainment available to consumers. Moreover, the user experience of virtual sports events is expected to be enhanced by incorporating high-quality graphics and animation, leading to heightened engagement and enjoyment. This will further contribute to the growth of the market in these regions.
According to the latest global research by SkyQuest, the Virtual football game betting market is steadily rising and is expected to dominate the industry by 2030. This positive outlook t indicates significant growth potential for related sectors, including the Virtual Sports Betting market. The popularity of virtual sports betting is increasing among younger generations as they seek new and engaging ways to enjoy sports and entertainment.
Browse in-depth TOC on "Virtual Sports Betting Market"
- Pages - 245
- Tables - 59
- Figures - 75
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The accessibility, convenience, and 24/7 availability of virtual sports betting have made it increasingly important today's time. It allows individuals to safely and securely participate in sports betting anywhere, anytime. Moreover, it serves as an alternative source of entertainment for sports fans when live sports events are unavailable.
Prominent Players in Virtual Sports Betting Market
- Bet365 Group Ltd.
- William Hill PLC
- Flutter Entertainment PLC
- Kindred Group plc
- GVC Holdings PLC
- 888 Holdings PLC
- Betway Group
- DraftKings Inc.
- FanDuel Group
- Betfred Ltd.
- Ladbrokes Coral Group PLC
- Paddy Power Betfair PLC
- The Stars Group Inc.
- SBTech
- Sportech PLC
- Intralot SA
- Scientific Games Corporation
- NetEnt AB
- Playtech plc
- Kambi Group plc
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Virtual Football Game Segment to Drive Higher Sales as It Offers Engaging and Convenient Channel
As per a recent analysis, the Virtual Football Game segment has emerged as a significant contributor to the rapid development of the Virtual Sports Betting market in 2021, with its dominance expected to continue from 2022 to 2030. Football is a prevalent sport worldwide. The virtual football segment offers an engaging and convenient way for fans to participate in sports betting, irrespective of location or the time of day. In addition to virtual football, SkyQuest, a leading market research firm, has reported that other virtual sports segments, including horse racing, basketball, tennis, and greyhound racing, are also gaining popularity. However, the popularity of these segments can vary depending on the region and the target audience.
As per the latest research analysis by SkyQuest, the Virtual Sports Betting market in Europe is poised to emerge as a dominant player from 2022 to 2030. The report attributes this growth to several factors, including the increasing presence of major global players and a long tradition of sports betting in the region. SkyQuest predicts that The European virtual sports betting market will grow at a compound annual growth rate (CAGR) of approximately 9% during the projected period.
Mobile Platform Segment to Exhibit Strong Growth due to The Convenience of Mobile Devices
As per the latest report by SkyQuest, the Virtual Sports Betting market has witnessed a significant surge in the Mobile Platform segment in 2021, and it is predicted to maintain its dominant position from 2022 to 2030. The report highlights that the convenience of mobile devices and the rising popularity of online gaming and betting activities on smartphones and tablets have fueled the growth of this segment. According to the research, the Mobile Platform segment is expected to grow at a compound annual growth rate (CAGR) of over 14% during the projected period.
As per the latest market research, the Asia Pacific region has emerged as a major player in the Virtual Sports Betting market and is projected to retain its dominant position by 2030. The region's growth can be attributed to the rising popularity of online gaming and betting activities, the increasing usage of mobile devices, and the growing disposable income of consumers. SkyQuest's report further states that the Asia Pacific region is expected to witness a compound annual growth rate (CAGR) of over 12% during the forecast period.
Recently, an exhaustive analysis of the Virtual Sports Betting market has been undertaken, focusing on different aspects of the industry's significant players. The report investigates key trends and significant advancements in the market, presenting valuable insights into market players' innovative business policies and strategies, including collaborations and mergers. In addition, the report presents a comprehensive analysis of the market share of the top segments, along with a detailed geographic analysis. It also highlights the major players in the industry and their initiatives to develop innovative solutions to cater to the growing demand for Virtual Sports Betting.
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Key Developments in Virtual Sports Betting Market
- IMG ARENA has recently announced its acquisition of Leap Gaming, a virtual sports and casino games provider, to bolster its sports betting content portfolio. The transaction is expected to close in the first half of 2023, subject to customary closing conditions, including regulatory approvals.
- Endeavor Group Holdings, a global sports and entertainment company, has completed its acquisition of OpenBet, a prominent content, platform, and service provider in the sports betting industry, from Light & Wonder. The transaction, valued at approximately $800 million, was paid for through a combination of cash ($750 million, subject to certain customary adjustments) and shares of Endeavor's Class A common stock.
Key Questions Answered in Virtual Sports Betting Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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