How Big Is The Market For Sports Betting?

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How Big Is The Market For Sports Betting?

February 07, 2022, by Toby Banks

Sports

Sports Betting Market

If you are new to the world of sports betting or do not have much experience, you may not be aware of its magnitude. Betting has practically existed since the human being developed his conscience. Besides, there are many types of bets, both professional and amateur. Because when betting, a series of sensations arise that drive the bettor to be part of it. It is not just winning and making a profit. We mean the excitement, emotions, and anticipation generated when a bet is placed. Moreover, if we add the sports component to the above, logically, everything becomes more interesting. It is worth remembering that fanaticism towards sports is also something that goes back to time immemorial. So, the formula between sports and betting attracts millions of bettors from all over the world. But, also, we are living in times when technology has opened up new and exciting ways to bet. So, the processes have been simplified, and every day it is easier to enter the universe of sports betting. However, most bettors are unaware of the proportion of the sports betting world and its growth.

Sports Betting: The Incredible Universe Of $Billions

Year after year, the numbers for both bets and prizes increase at levels that are hardly possible to foresee. Because each quarter, it can all go up to incredible amounts. It can be even more if during the season important events occur, regardless of the sports or competitions on which they appear. But in recent years, a phenomenon has occurred thanks to the pandemic. The number of pre-pandemic gamblers was close to 170 million people, and after it, this number grew to more than 250 million, which is awesome. And we must make a special mention of eSports, which have created a niche of their own to go from being video games to digital sports that will soon reach the level of Olympic acceptance. The eSports are growing minute by minute in terms of bettors, teams, and profitability.

A study carried out by the firm Grand View Research, Inc. points out sports betting will be an industry that will be worth around $ 140.26 Billion by 2028. A clear example of how the sports betting industry has formed an ecosystem of exorbitant amounts is exposed with the case of Denise Coates. At 54 years of age, this woman has a net worth estimated at $ 12.2 billion, being the founder and CEO of the famous and prestigious betting group Bet365. This fortune makes her the richest woman in England.

Sports betting is generating so much money that it exceeds the economies of many countries. Besides, globalization generates more and more attractive opportunities for new bettors to join this world, where everything is possible. So, there is always the chance of obtaining profit, as long as the bettor is informed and gets knowledge. We must understand that this is not a small sports betting market but a global industry that is changing the entire planet's economy.

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