Virtual Sports Betting Market, By Simulation Type (RNG Based and AI Based), By End Users (Individual Players and Betting Companies), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Jun 2024

Code : CMI7037

Pages :140

Formats :

Excel and PDF

Industry : Information and Communication Technology

Market Concentration and Competitive Landscape

Virtual Sports Betting Market Concentration By Players

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Rise of Esports and Simulated Sports

Emerging as a billion-dollar industry today, esports has grown massively in popularity among younger demographics globally. As traditional sporting events faced cancellations during the pandemic, esports successfully held numerous competitions online with huge viewership. Their virtual, digital-first nature made them well-suited to continue engaging fans in a socially distant environment. This boosted greater mainstream awareness and accelerated esports' rise. Meanwhile, advances in sports simulation technology have led to highly realistic simulations of different games being available. Together, the overlapping growth trajectories of esports and simulated sports present a major driver for the virtual sports betting space.

Sportsbooks have taken notice of large untapped fanbases for esports and simulated sports that may be easier to onboard as betting customers in virtual formats. Virtual iterations allow gambling on esports titles and simulated sport outcomes without many of the legal/regulatory hoops of real-world sports.

Key Players Insights