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.
The APAC region will drive growth in iGaming sector
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.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.