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Market Size of the Sports betting Industry in the US (2017-2021, $ Billion)

Industry: Casinos And Gambling
Current: Market Sizing & Shares

The market size of the sports betting sector in the US reached a value of $3.7 billion in 2021
The sports betting market in the US grew by 180% in 2021
The sports betting market in the US grew at a CAGR of 96% during 2017-2021

Sports Betting industry in the US: Industry Overview

The Casino and gaming industry is made up of Casinos, Lotteries, Sports betting & related, and other activities, out of which Sports betting and related accounts for 24% of the market size with $101 billion.

Predicting sports results and making a bet on the outcome is known as Sports betting. The frequency of sports wagering varies by culture, with most wagers being put on amateur and professional levels of association football, American football, basketball, baseball, hockey, track cycling, car racing, mixed martial arts, and boxing.

The US is the third biggest market for sports betting. The market size of the sports betting sector in the US reached a value of $3.7 billion in 2021, accounting for 4% of the global market size.

Earlier in the year 2020, globally, when the COVID-19 outbreak impacted the sector greatly, sports betting in the US had no effect with a huge growth of 46%. Later, when the restrictions were eased, the US saw even greater growth of a whopping 180% accounting for an increase in market size of $2.4 billion. As a result of this, the US surpassed Italy and Germany to become the third biggest market for sports betting.

The sports betting market in the US grew at a CAGR of 96% during the period 2017-2021. This was primarily on account of the increase in the demand for betting activities which was seen for the past few years, which later grew exponentially after the pandemic as people, in general, became more spendthrift after being forced to sit in their homes for the better part of 2020 as the country was shut down with multiple lockdowns and government restrictions.

The major companies that have a strong presence in the US sports betting market include Caesars sportsbook, BetMGM, and Bet365 among others.

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