Casino City's iGaming Pocket Directory - 2022 Edition

Sports betting offers a unique form of online gaming, where bettors predict sports results and wager on an outcome rather than playing against a dealer or other bettors. Whereas bingo, casino games and poker are based on events within the casino, sports betting is tied to reallife events. Punters can find bets on all sorts of sports, including eSports, with individual wagers ranging from single games to a full season’s performance by either players, teams, or entire leagues. Estimating the full value of the international sports betting market is difficult due to a wide variety of regulations across the world, but many countries offer reputable reports. The European Gaming and Betting Association reported in late 2020 that sports betting continues to be the most popular online gambling activity in Europe, responsible for 41% of the total gaming market, with 55% of the revenues coming on in-play wagers. The UKGC reported a GGY for online sports betting of £2.6 billion between April 2020 and March 2021, paced by soccer’s £1.2 billion and horse racing’s £856.1 million. A relatively new player in the global online sports betting market is the U.S., which has long been a sleeping giant. Since the U.S. Supreme Court ruled that the federal ban on sports betting was unconstitutional in May 2018, operators both domestically and internationally began competing for a piece of American pie as if it were a gold rush. By the end of 2021, 30 states, plus the District of Columbia and Puerto Rico, had approved regulations and launched legalized mobile and/or retail sports betting, and since June 2018 had tallied a handle Sports Betting Industry Overview 58 Sponsored by Casino City’s iGaming Pocket Directory sports betting