The US online sports betting market is expected to experience significant expansion over the next decade, according to a new report released by market research firm Grand View Research. The report, titled “US Online Sports Betting Market Size, Share & Trends Analysis Report By Product Type (Sportsbooks, Fantasy Sports, Daily Fantasy Sports), By Application (Mobile, Web), And Segment Forecasts, 2020 – 2028”, predicts that the US online sports betting market will reach $9.3 billion by 2028.
The report attributes the expected growth to a number of factors, including the increasing popularity of online sports betting, the increasing number of states legalizing sports betting, and the increasing number of sports betting platforms available. The report also notes that the increasing number of states legalizing sports betting has led to a surge in the number of people placing bets online.
The report also highlights the potential for growth in the US online sports betting market due to the increasing availability of mobile betting apps. Mobile betting apps allow users to place bets on their phones or tablets, making it easier and more convenient for them to place bets. Additionally, the increasing availability of online sportsbooks has made it easier for bettors to compare odds and find the best value for their bets.
The report also notes that the US online sports betting market is expected to benefit from the introduction of new technologies such as virtual reality and augmented reality. These technologies are expected to make sports betting more immersive and engaging for bettors, which could lead to an increase in the number of people placing bets online.
Overall, the US online sports betting market is expected to experience significant growth over the next decade. This growth is expected to be driven by a number of factors, including the increasing popularity of online sports betting, the increasing number of states legalizing sports betting, and the increasing availability of mobile betting apps. Additionally, the introduction of new technologies such as virtual reality and augmented reality could further drive growth in this market. As such, it is likely that the US online sports betting market will reach $9.3 billion by 2028.
