iGaming

Sports betting market size expected to grow by $106.25bn before 2025

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

Sam Cooling

London-based crypto journalist Sam Cooling studied at the London School of Economics (LSE) before working as a Data Technology Consultant for the Fairtrade Foundation. Coin Rivet combines his passion for technology writing with his zeal for the Decentralised Finance revolution. Sam loves providing daily regulatory and alt coin coverage. Outside of the crypto world Sam loves boxing, and spends his time working with NGOs in Zambia.

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