What factors are affecting the betting market according to Odds96. The main challenges of the betting market. Which betting segment is growing fastest. The fastest growing region of the betting market.
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Odds96 India’s Global Reach: International Betting Markets And Opportunities
The sports betting market continues to grow and expand. According to Odds96 review for the next 4 years (until 2027) the growth will average 10% annually. At the same time, the total capitalisation is forecasted by analysts to be around $140 billion. In this article we will tell you how the betting market is doing now and how it will develop in the future.
What Is Currently Affecting The Betting Market
Odds96 India analysts took the reports for the past year, 2022, as the basis of the market research. The first thing that has increased the market capitalisation is the legalisation of sports betting in many countries including:
- India;
- Several US states;
- UK;
- France;
- Denmark;
- Italy.
It goes without saying that legalisation has opened up opportunities for operators to attract new users and partners. Together with operators, sports clubs and organisations have also developed, which receive additional investments and advertising due to betting. Thus, sport develops betting, and betting develops sport. Researchers from Odds96 do not exclude that more and more countries will legalise betting. This trend will continue to expand the betting market.
The Main Problem With The Betting Market
The main problem that is negatively affecting the growth of the betting market is the socio-economic impact. Odds96 bet note that the strongest influences are seen in China and India. In these countries, betting is on the list of factors that can lead society to financial stress. This is due to the yet to be perfected gambling regulatory system and the lack of focus on responsible betting. As a result, gambling is often the cause of unpayable debts, bankruptcy and a sagging economy.
In addition to the economy, the social sphere suffers. Gambling addiction takes a serious toll on the well-being of players, their family and friends. It is not uncommon to see an increase in suicide attempts due to large losses. To avoid this, some countries ban online betting. For example, Japan, Norway, South Korea, Portugal. Such bans are a restraining factor for the growth of the betting market.
The Fastest Growing Segment Of The Betting Market
In this matter, Odds96 betting experts predict that the online betting segment will continue to grow. According to the results of 2022, 55% of the volume of all bets is accounted for by the online market. In 2017, the capitalisation of online betting was around $86 billion. This amount has only increased every year since then. A big influence on this is mobile apps. For example, more than 75% of Odds96 login owners place bets from their smartphones.
Another driver of online betting growth is partnership alliances. For example, in 2021 Caesar Ent. acquired sports betting provider WH (William Hill). Now all WH properties (online and physical) are operated by the casino company.
An additional factor in the growth of the online segment of the betting market is favourable legal and regulatory requirements. Many of the countries among those that have legalised online betting are developing their regulatory frameworks to ensure greater transparency and player safety. While this promises additional costs, it also increases the influx of new users.
Major Regions Of The Betting Market
According to Odds96 review the betting market will grow at a CAGR of 35% in key regions. In the next 5 years, analysts predict that the Asia-Pacific region will be the largest. All because of the fact that it is home to more than 60% of the world’s population. Plus the betting market in the Asia-Pacific region is developing and growing faster than others. Odds 96 experts also note the growth of the solvent population in these places and the close proximity of places with gambling (for example, Macau).
Thanks to the growth of online betting and the development of major countries in the region such as India and China, more and more platforms are opening offices here. At the time of writing, the Asia-Pacific region is home to the majority of the global betting market. As for the disciplines most often bet on, they include football, cricket, horse racing. In terms of legislation and bans, things are different in this region. In Hong Kong, you can bet on certain sports, while in Singapore betting is under a complete ban.
Analysts also predict that although gambling is banned in India, the number of players from there continues to grow. This is due to the growing popularity of certain sports and the growing solvency of the population. In addition to betting on cricket, more and more users from India prefer gambling games like Odds96 casinot.
Conclusion
The betting market will continue to grow and develop. To summarise, the main growth drivers are as follows:
- The development of digital technology;
- The use of machine learning to form bets.
- The development is also influenced by the legislation of countries, many of which have legalised sports betting in recent years.
