The future of sports betting is an exciting topic that is constantly evolving. With the rise of technology and the increasing popularity of sports, the industry is expected to grow even more in the coming years.
According to a report by Research and Markets, the global sports betting market is projected to reach $155.49 billion by 2024, with a CAGR of 8.83% during the forecast period. This shows that there is a huge potential for growth in this industry.
One of the key trends in the future of sports betting is the rise of mobile betting. With the increasing use of smartphones and tablets, more and more people are turning to mobile devices to place their bets. This allows for greater convenience and accessibility, making it easier for people to bet on their favorite sports wherever they are.
Another trend that we can expect to see in the future is the legalization of sports betting in more states in the US. With the Supreme Court ruling in 2018 that allowed states to legalize sports betting, we have already seen a number of states jump on board. Experts predict that more states will follow suit in the coming years, opening up even more opportunities for the industry to grow.
In a statement by John McManus, the CEO of MGM Resorts International, he said, “The future of sports betting is bright, with more and more states legalizing it and the potential for increased revenue for both operators and states.”
As technology continues to advance, we can also expect to see more innovative ways of betting on sports. Virtual reality betting, for example, is already starting to gain traction, allowing users to experience sports events in a whole new way.
Overall, the future of sports betting looks promising, with a number of exciting trends and predictions on the horizon. As long as the industry continues to evolve and adapt to changing consumer preferences, there is no doubt that it will continue to thrive in the years to come.