LONDON--(BUSINESS WIRE)--Jul 10, 2020--

The horse and sports betting market is likely to experience steady growth because of the increasing digital connectivity and rapid growth in commercialization of horse racing and sports events. Rising at a CAGR of over 9%, the market is estimated to have an incremental growth of USD 139.52 billion by 2024. Download Free Sample Report

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Technavio has announced its latest market research report titled Global Horse and Sports Betting Market 2020-2024 (Graphic: Business Wire)

A Technavio analyst says, "The global horse sports betting market will have a positive impact due to the spread of COVID-19. The extension of containment efforts is increasing demand and reducing production. Hence, the prices are expected to remain elevated for the short term, thereby resulting in an improved topline growth of vendors."

Technavio’s recent analysis of horse and sports betting market, includes a detailed examination of its revenue forecasts, including market drivers and challenges, key market participants, and growth opportunities. The study segments the markets in Europe, APAC, North America, South America, and MEA, geographically. The European region is expected to have a market share of 46% and will provide significant growth opportunities for market vendors during the forecast period.

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Stringent government regulations and illegal practices associated with sports betting are expected to hinder the growth of the market. However, the increasing adoption of AI and machine learning and growing focus on consolidation will have a positive impact on the horse and sports betting market during the forecast period.

Technavio’s analysis of the horse and sports betting market also includes:

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive horse and sports betting market growth during the next five years
  • Precise estimation of the horse and sports betting market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the horse and sports betting market industry across Europe, APAC, North America, South America, and MEA
  • A thorough analysis of the market’s competitive landscape
  • Comprehensive details of factors that will challenge the growth of horse and sports betting market

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 07/10/2020 01:30 PM/DISC: 07/10/2020 01:30 PM

Copyright Business Wire 2020.

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