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U.S. eSports and Sports Betting Market

U.S. eSports and Sports Betting market reached USD 1,915.6 Million in 2020. It is further projected to reach USD 17,715.0 Million by 2027, at a CAGR of 27.0% during the forecast period (2021-2027)

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U.S. eSports and Sports Betting Market

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  1. U.S. eSports and Sports Betting Market All Set to Enjoy a Meteoric Rise— Projected to Reach USD 17,715.0 Million by 2027 U.S. eSports and Sports Betting Market- Industry Trends & Forecast Report 2027 View report Sample report Press release Summary U.S. eSports and Sports Betting Market, By Type (eSports Betting and Sports Betting), By Sports ( Sports Betting [Football, Baseball, Hockey, Basketball, Horse Racing, Boxing, Others], eSports Betting [League of Legends, Counter Strike: Global Offensive, DOTA 2, Spacecraft 2, Others] ), By Mode of Betting (Offline Betting and Online Betting), By States (Sports Betting [New Jersey, Nevada, Colorado, Tennessee, West Virginia, Pennsylvania, Indiana, Illinois, Mississippi, Iowa, Others], eSports Betting [ New Jersey, Nevada, Colorado, Tennessee, West Virginia, Arizona, Wyoming, Others]); Trend Analysis, Competitive Market Share & Forecast, 2018-2027 A study recently conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the U.S. eSports and Sports Betting market was worth USD 1,915.6 million in 2020 and is further projected to reach USD 17,715.0 million by 2027 at a CAGR of 27.0% during the forecast period (2021-2027). Several factors are driving the U.S. eSports and Sports Betting market, including the record viewership of sports amid the pandemic across the US, an increase in live streaming of games and eSports, temporary closure of casinos, and expanding interest in betting across the US. These factors are expected to drive the growth of the U.S. eSports and Sports Betting market during the forecast period.

  2. U.S. eSports and Sports Betting Market All Set to Enjoy a Meteoric Rise— Projected to Reach USD 17,715.0 Million by 2027 U.S. eSports and Sports Betting Market- Industry Trends & Forecast Report 2027 The U.S. eSports and Sports Betting market reached USD 1,915.6 Million in 2020. It is further projected to reach USD 17,715.0 Million by 2027, at a CAGR of 27.0% during the forecast period (2021-2027). The market is driven by factors, such as rising viewership of sports, such as soccer, cricket, tennis, and others, along with record viewership of sports amid the pandemic across the US. Additionally, the rising live streaming of games and eSports, temporary closure of casinos, and the rising interest in betting across the US have also benefited the market. These factors are expected to drive the growth of the U.S. eSports and Sports Betting market during the forecast period. As the Supreme Court of the United States (SCOTUS) overturned the Professional and Amateur Sports Protection Act (PASPA), companies involved in the eSports and sports betting industry have begun collaborating with sports teams and players to promote betting. States with legalized sports and eSports betting have registered record revenues towards the end of 2020 and in the first quarter of 2021 owing to the dominance of online sports betting and lockdown restrictions. The U.S. eSports and Sports Betting Market Overview: Betting on sports has been around for a long time. eSports betting, on the other hand, is a relatively new concept. Despite being relatively a new concept, eSports betting has gained a great deal of traction in the last few years. Even though there are still many sports fans who focus on traditional matches and games, more and more sports enthusiasts are getting interested in this new trend of betting.Traditional sports and eSports betting both falls under the category of betting on sports. Usually, they rely on bookmakers and sportsbooks who provide specific odds, such as tie-ups, scores, etc. Bettors predict a result and place a wager.The number of states with legalized eSports and Sports betting has gone up since the Supreme Court of the United States (SCOTUS) overturned the Professional and Amateur Sports Protection Act (PASPA) in 2018. Currently, more than 12 U.S. states have legalized sports betting and few of them have legalized eSports betting as well. U.S. eSports and Sports Betting Market Forecast and Trends Growth Drivers Rising Live Streaming and Popularity of Games and Sports A good example of rising growth prospects for the gaming industry in the U.S. is the largest video game streaming platform Twitch. The company has only been witnessing rising viewership ever since Amazon acquired it back in 2014. Another game-streaming platform for audiences, YouTube, has also been witnessing a rising trend of engagement across gaming channels that has positively contributed to the potential of the live stream gaming business in the U.S. With Nevada being the only state in the country offering legalized eSports betting platform, the rising trend for live stream betting has contributed to easing of eSports regulations across other states, including New Jersey, which has recently announced the proposal of legalization state. Consequently, many other states are thinking of following suit making live of eSports betting in the

  3. U.S. eSports and Sports Betting Market All Set to Enjoy a Meteoric Rise— Projected to Reach USD 17,715.0 Million by 2027 streaming platforms the driving force for the U.S. eSports and sports betting market Restraints The Negative Effects of Betting Has Been Hindering Its Growth The U.S. sports and eSports betting market has been confronting some issues pertaining to gambling in the country. As a result of the negative effects of betting, crime rates across the US have risen all across the country. According to the National Council on problem gambling, more than 75% of young adults had engaged in gambling in 2018. Since gambling has become more acceptable and glamorized in American society, it has become an alarming issue for US authorities as the youth are exhibiting risk-taking behavior. In 2017, almost 13% of teenagers wagered money on various sports teams. Betting on NFL (professional football) and college basketball has become popular among the youth. As a result, gambling has affected youth more than adults, which is hindering the growth of the U.S. sports and eSports betting market. Opportunity Rising viewership For eSports Presents a Lucrative Opportunity For The Growth of The U.S. eSports And Sports Betting Market During The Forecast The rising popularity of eSports has also contributed to the rising viewership of eSports games, which has helped increase audience engagement with players and streamers online. In the US alone, every 2 out of 6 people have stated that they have witnessed an eSports gaming event which proves the fact that eSports gaming has been attracting a lot of audiences ever since it has hit the market. As viewership grows, betting officials can utilize the heightened anticipation among the audience to draw in bettors, who in turn can place their bet and wait for their bet to bear fruit. The rise in the audience can help the bettors place safer bets as they have been following the players for a good amount of time. Additionally, the increasing number of reviews has been able to assist bettors along the way, thus contributing to the growth of the market. U.S. eSports and Sports Betting Market: By Mode of Betting The U.S. eSports and Sports Betting market is segmented into offline and online betting with online betting dominating the market with the highest market share in 2020. This mode of betting gained popularity at a rapid rate, especially during the lockdown. With casinos and other gambling sites closed, betting revenues dropped across the states. To boost the revenues, many states allowed online sports betting as a result of which the revenues soared significantly. Following the legalization of online sports betting in the US, many states registered record wagering in sports betting. With more than USD 6 billion wagered in sports betting in the states, online sports betting helped New Jersey surpass Nevada. Nevada was hit hard because most sports betting occurs offline, whereas New Jersey dominates the market with online betting. Online sports betting is expected to increase even further in 2021 as it does not require bettors to register face-to-face and bets can be placed easily in the comfort of one’s home. Period’

  4. U.S. eSports and Sports Betting Market All Set to Enjoy a Meteoric Rise— Projected to Reach USD 17,715.0 Million by 2027 U.S. eSports and Sports Betting Market: By Sports (Sports Betting) Based on sports, the U.S. eSports and Sports Betting market is segmented into Sports Betting [Football, Baseball, Hockey, Basketball, Horse Racing, Boxing, Others]; and eSports Betting [League of Legends, Counter-Strike: Global Offensive, DOTA 2, Spacecraft 2, Others]. The football (NFL) segment held the largest share in sports betting under U.S. eSports and Sports Betting Market in 2020. Football is one of the most popular sports in the United States, with an average of 15.4 million people tuning in to watch a regular-season game of the National Football League (NFL). Every year, multiple high-profile bets are placed on the Super Bowl, which is the greatest sports betting event in the United States. The American Gaming Association predicted that bets on the Super Bowl would total around USD 6.8 billion, with the highest reported wager of USD 3.46 million on the Buccaneers coming from Colorado, followed by USD 2.5 million and USD 2.3 million from Nevada. The betting on football (NFL) is expected to increase in upcoming years with several major states exploring the possibility of legalizing eSports and Sports betting to tap the potential of the market and increase their revenues. On the contrary, the Others segment is expected to register the fastest growth during the forecast period owing to the growing popularity of sports like soccer (MLS), cricket, tennis (US Open), table tennis, and other sports. The legalization of betting on the Olympics by many states is expected to further propel the growth of the Others segment in upcoming years. Impact of COVID-19 in the industry The onset of novel coronavirus has affected the global economy besides affecting business operations. Due to the high infection rate and adverse impact on public health systems, various countries had to enforce nationwide lockdowns. The U.S. eSports and Sports betting market was also severely affected as all the sporting events were either canceled or suspended to check the spread of the deadly virus. As countries started easing lockdown restrictions, the sporting and eSporting events started resuming, and with that, the eSports and Sports betting market started witnessing exponential growth. Several states legalized online sports betting to take advantage of the opportunity and the bettors did not disappoint. Several states like New Jersey, Pennsylvania, Illinois, Tennessee, and others registered record closing of the year 2020 and record betting handles and revenues in the first quarter of 2021. In December 2020, New Jersey broke a record with more than USD 1.0 billion wagered in sports bets, bringing the total amount gambled in sports bets in the state to more than USD 6.0 billion for the year. The rise of the US eSports and Sports betting business is likely to continue in 2021 and the coming years, with significant sporting events such as the Olympics in Tokyo in 2022, U.S. eSports and Sports Betting Market: Regional Insights The U.S. eSports and Sports Betting market is divided into the following states— New Jersey, Nevada, Colorado, Tennessee, West Virginia, Pennsylvania, Indiana, Illinois, Mississippi, Iowa, Others for sports betting. The market is further grouped into the following states— New Jersey, Nevada, Colorado, Tennessee, West Virginia, Arizona, Wyoming, Others for eSports betting. The New Jersey eSports and Sports Betting market accounts for the largest share in the U.S. eSports and Sports Betting market and is expected to lead the market in the forecast period

  5. U.S. eSports and Sports Betting Market All Set to Enjoy a Meteoric Rise— Projected to Reach USD 17,715.0 Million by 2027 as well. Growing preference for online betting and the increasing number of lounges and sportsbooks have boosted the market growth. Also, the rising popularity of the young age group and the ever-rising sports industry has boosted the market growth of the New Jersey sports betting market. In 2019, New Jersey sports betting single handily exceeded USD 4.5 billion driving the market growth of the New Jersey sports betting market. With Bill A637, New Jersey is moving rapidly to make eSports betting widely legal. This bill allows New Jersey sportsbooks to offer eSports wagering on most college and professional events and tournaments. Competitive landscape The U.S. eSports and sports betting market has several key players operating in the market. Some of the key players include 888 Holdings, Entain PLC, William Hill, Kindred Group PLC, Draftkings Inc., Flutter Entertainment PLC, Fubotv Inc., Elys Game Technology Corp., Score Media Ventures Inc, Real Luck Group Ltd., and others. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. Major players also employ strategies such as new product launches and an emphasis on continual technological improvement. The companies are also trying to dominate the market by investing in rigorous research and development. Moreover, a lot of prominent market players are striving to gain market share by adopting competitive strategies such as joint ventures and research partnerships. The market players compete based on the types of services they provide to bettors, the states in which they operate, the sports they offer for betting, and whether or not they offer eSports betting. Recent Developments On May 20, 2021, DraftKings announced that it has become the first Official Daily Fantasy Sports, iGaming, and Sports Betting Partner of 23XI Racing and its esteemed driver, Bubba Wallace, pending regulatory approval in applicable jurisdictions. Its official sponsorship was debuted at EchoPark Automotive Texas Grand Prix at Circuit of the Americas on May 23, 2021. While DraftKings is already a NASCAR Official Daily Fantasy Partner, this collaboration with 23XI Racing puts DraftKings on the verge of breaking new ground in terms of motorsports offers, synergies, and entertainment. On March 30, 2021, the PGA Tour and Score Media and Gaming Inc. announced a content and marketing relationship designating theScore Bet as an official Betting operator of the PGA TOUR across the United States and Canada. Scope of the Report Attribute Details Years Considered Historical data – 2018-2020 Base Year – 2020 Forecast – 2021 – 2027 Facts Covered Revenue in USD Million

  6. U.S. eSports and Sports Betting Market All Set to Enjoy a Meteoric Rise— Projected to Reach USD 17,715.0 Million by 2027 Market Coverage New Tennessee, Virginia, Pennsylvania, Illinois, Mississippi, Iowa, Arizona, Wyoming, Others Jersey, Nevada, Colorado, West Indiana, Product/Service Segmentation By Type, By Sports (Sports Betting and eSports), By Mode of Betting, and By States Key Players Key players operating in the market include 888 Holdings, Entain PLC, William Hill, Kindred Group PLC, Draftkings Inc., Flutter Entertainment PLC, Fubotv Inc., Technology Corp., Ventures Inc, Real Luck Group Ltd. and others Elys Score Game Media Scope of the Report Ø By Type o Sports Betting § By Sports · Football (NFL) · Basketball (NBA) · Baseball (MLB) · Hockey (NHL) · Horse Racing · Boxing · Others o eSports Betting § By eSports · League of Legends · Counter Strike : Global Offensive · DOTA 2 · Spacecraft 2 · Others Ø By Mode of Betting o Sports Betting

  7. U.S. eSports and Sports Betting Market All Set to Enjoy a Meteoric Rise— Projected to Reach USD 17,715.0 Million by 2027 § Offline Betting § Online Betting o eSports Betting § Offline Betting § Online Betting Ø By States o Sports Betting § New Jersey § Pennsylvania § Nevada § Colorado § Mississippi § Indiana § Illinois § Tennessee § West Virginia § Iowa § Others o eSports Betting § New Jersey § Nevada § Colorado § Arizona § Tennessee § West Virginia § Wyoming § Others FAQ: 1.What is the current size of the U.S. eSports and Sports Betting market? Ans: The U.S. eSports and Sports Betting market reached USD 1,915.6 million in 2020. 2.What are the major factors driving the growth of U.S. eSports and Sports Betting market?

  8. U.S. eSports and Sports Betting Market All Set to Enjoy a Meteoric Rise— Projected to Reach USD 17,715.0 Million by 2027 Ans: Rising viewership of sports, such as soccer, cricket, tennis, and others, record viewership of sports amid the pandemic across the US, rising live streaming of games and eSports, temporary closure of casinos, rising interest in betting across the US and others are some of the factors driving the growth of the U.S. eSports and Sports betting market. 3.Who are the key players in the U.S. eSports and Sports Betting market? Ans: The key players operating in the market include 888 Holdings, Entain PLC, William Hill, Kindred Group PLC, Draftkings Inc., Flutter Entertainment PLC, Fubotv Inc., Elys Game Technology Corp., Score Media Ventures Inc, Real Luck Group Ltd., and others. 4.Which mode of betting accounted for the largest market share in U.S. eSports and Sports Betting market? Ans: Online betting segment accounted for the largest market share in the U.S. eSports and Sports Betting market. 5.Which state accounted for the largest market share in U.S. eSports and Sports Betting market? Ans: New Jersey accounted for the largest market share in U.S. eSports and Sports Betting market.

  9. U.S. eSports and Sports Betting Market All Set to Enjoy a Meteoric Rise— Projected to Reach USD 17,715.0 Million by 2027 About us Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade- off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us info@blueweaveconsulting.com

  10. U.S. eSports and Sports Betting Market All Set to Enjoy a Meteoric Rise— Projected to Reach USD 17,715.0 Million by 2027

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