The digital revolution is driving dramatic growth in the sports betting industry, with a recent report revealing that market size could grow by $106.25bn over the next three years.
With the industry posting an impressive year-on-year gain of 21.54% – it is clear that Covid-19 has been a factor in the space, as the global gambling community has increasingly shifted focus to emerging opportunities in the digital sphere.
Crypto-based sports betting has risen in prominence and popularity, with big teams such as Watford FC making multi-year partnerships with crypto bookmakers.
Unsurprisingly, the Asian-Pacific region is expected to see the bulk-share of market growth, with a projected 39% increase primarily centred on the Chinese and Australian retail markets, according to the report.
Swelling middle classes in India and China have been a particularly influential dynamic on online platforms, with substantial demand for fantasy sports gaming.
However, privacy infrastructure and government regulators are still presenting a continual barrier to an explosion in online crypto gambling.
Singapore, Singapore, 19th September 2024, Chainwire
Grand Cayman, Cayman Islands, 12th September 2024, Chainwire
Warsaw, Poland, 20th August 2024, Chainwire
Singapore, Singapore, 20th August 2024, Chainwire
Grand Cayman, Cayman Islands, 26th July 2024, Chainwire
As usual, the crypto market is keeping everyone guessing what could happen next. After an…