The market of sports bets has undergone several changes in both revenue and operating model, according to betting news from across the globe. Ed Birkin from H2 Gambling Capital has shared his expert insight on the industry and the latest figures in it.
The expert has said that the betting sector has generated $71 billion in 2019. Sports betting accounts for 55% of the whole market. Half of the revenue is from Asia (China and Japan) and its white and grey markets. North and South America account for 6% of global sports betting activity.
Total GGR was predicted to reach $60 billion in 2020. Online betting revenue fell 10% in comparison to forecasts at the start of the year. The land-based market is down 30% compared to predictions, while interactive sports betting GGR has decreased by 16%.
The speaker has added that, for example, the UK betting market has a strong correlation with GDP (Gross Domestic Product). As GDP declines, betting gross wins will also decline. The total betting activity forecast is to be 4% lower from 2021 onwards. No crowds for sports events mean that home advantage has been wiped out, which may affect odds pricing.
Esports is still a very small part of the betting market
According to Ed Birkin, the esports sector doesn’t have a big share in the sports betting market. However, this vertical experiences the growth tendency as it increases by 30% on year by year. The latest figures show that esports hold only 1.3% of the total sports betting industry. Dota 2, CS:GO, and League of Legends account for 95% of the market. The expert has also noted that the majority of esports gamblers are esports enthusiasts.
Read more: Essential information about sports bets