Data corroboration and research company ResearchAndMarkets have recently added a new report to their extensive range of industry data, looking at the potential impact of the COVID-19 epidemic on the industry and what it forecasts the size and growth of the market to be through to 2024.
The new report, entitled “The US Sports Betting Market: Size & Forecast with Impact Analysis of COVID-19 (2020-2024)” provides a detailed analysis of the fledgling US Sports Betting market, incorporating all the different states that allow this form of wagering.
Fragmented Market
It is important to note that any companies seeking to expand into the US market are entering a somewhat fragmented market, but also a market that is expanding and improving. Recently, a number of states have given the green light to allow many forms of esports betting alongside standard sports bets, while other linked markets, such as Virtual Sports betting also continues to. grow.
Data in the report takes into account a number of regions in the United States including Nevada, New Jersey, Pennsylvania, Mississippi, Indiana, West Virginia, Iowa, Rhode Island, New York State, Oregon and Delaware.
However, there are a number of other states that could well go online and allow sports betting over the intervening years, Massachusetts is one state that is close to legalising sports betting at the very least, and this in turn could drive further interest in both virtual sports betting and esports betting too.
Key Players in the Sports and Esports Betting Industry in the United States to 2024
One of the most intriguing aspects of the report is the section which deals with which companies will be the ones most likely to drive the sports betting markets in the United States over the next four years and there are some familiar names on that list.
Top of it are the powerhouse DraftKings, who not only offer fantasy sports betting, but also a range of sports books and also esports fantasy betting too. It appears the diverse range of products offered by DraftKings is likely to be a defining factor in the company being at the forefront of the growth of sports betting and similar markets across the United States over the next four years.
Other companies in the list include Caesars Entertainment, Scientific Games and Flutter Entertainment, who are the owners of the FanDuel group of companies.
COVID-19 Effect
However, perhaps the most interesting aspect of the report at present will be its investigation into the effects of the COVID-19 pandemic on sports betting and its associated markets within the United States at present.
There is already plenty of circumstantial evidence to suggest that given the dearth of live sporting events taking place across the globe, punters have instead turned their betting attention to a number of different markets, notably esports betting (which has undergone a real resurgence globally during the pandemic) and virtual sports betting.
Of particular interest to sites like FanDuel and DraftKings are the chapters which look at the opportunities for Daily Fantasy Sports betting, the increasing trend of virtual sports betting and the growing popularity of esports betting all of which have seen an upturn during the COVID-19 pandemic.
The report is available now from the MarketAndResearch sites priced at £717 for a single user license.
