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.
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.
Read More: Brazilian sports betting market to be worth an impressive $1.5bn annually
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.