The exploded adoption of online gambling can be well understood from the fact that the market was worth USD 57.54 billion in 2021, and is projected to grow at a CAGR of 11.7% between 2022 and 2030. The growth of the global online gambling market is being driven by the increasing popularity of online games in public places and at home, thanks to smartphones and fast mobile internet. The market is also being boosted by cultural and legal approvals, easy access to online gambling, celebrity endorsements, and corporate sponsorships. Due to the availability worldwide of affordable mobile apps, the market will continue to grow.
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And expect the relationships between gambling companies and professional sports to grow even closer in the coming years. At Wrigley Field in Chicago, DraftKings is building a sportsbook, and it won¡¯t be long before fans at Citizens Bank Park and Wells Fargo Center have gambling kiosks that allow them to place bets. As technology improves, the speed of in-game betting will increase, allowing bettors to sit at a game and wager on the outcome of the next pitch, shot or play. Media outlets are expanding their gambling coverage and relationships. Every major network has an expert, and betting lines and data are presented before and during game broadcasts, if not on stand-alone betting shows. In July, the Inquirer announced a partnership with Better Collective, a sports media group that will provide gambling content, data and stats through its subsidiary, the Action Network.
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