GCC Sports Betting Market Size, Share, Growth and Report Till 2028

IMARC Group, a leading market research company, has recently releases report titled “GCC Sports Betting Market Report by Platform (Offline, Online), Betting Type (Fixed Odds Wagering, Exchange Betting, Live/In Play Betting, Pari-Mutuel, eSports Betting, and Others), Sports Type (Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, and Others), and Region 2023-2028”. The study provides a detailed analysis of the industry, including the GCC sports betting market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the GCC Sports Betting Market?

The GCC sports betting market is projected to exhibit a growth rate (CAGR) of 11.22% during 2023-2028. 

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Factors Affecting the Growth of the GCC Sports Betting Industry:

• Increasing Internet Penetration and Smartphone Usage:

The proliferation of smartphones and the ubiquity of high-speed internet connectivity have democratized access to online betting platforms, enabling users to engage in betting activities from the comfort of their homes or while on the move. Furthermore, it allows for real-time betting, live streaming of sports events, and instant access to betting odds and transactions, which significantly enhances user engagement and satisfaction. Additionally, the integration of advanced security protocols, which ensure safe transactions, increasing trust and participation among users, is driving the market growth. Moreover, the mobile-first approach adopted by many betting platforms, catering to the growing demographic of young, tech-savvy individuals in the GCC, is supporting the market growth.

• Economic Diversification Efforts:

The GCC region is undertaking concerted efforts to diversify its economy away from traditional oil dependence. It has unveiled new avenues for growth in various non-oil sectors, including entertainment, sports, and leisure activities, which is propelling the market growth. This strategic shift is part of a broader vision to create a sustainable economy that offers a variety of services and attractions to both residents and tourists. In line with this, the increasing investments for creating a vibrant, diversified economy that attracts different forms of leisure and entertainment industries, including sports betting, are supporting the market growth. Additionally, the development of a favorable environment for sports and entertainment in the GCC, nurturing the ground for a thriving sports betting industry, is fueling the market growth.

• Growing Interest in Sports:

The burgeoning interest in sports within the GCC, fueled by significant investments in sports infrastructure, the hosting of international events, and the active promotion of sports participation at all levels, is propelling the market growth. This growing sports culture is not just about nurturing local talent but also creating a vibrant market for sports consumption, including betting. Furthermore, the organization of high-profile events in the region, increasing local enthusiasm for football and other sports, is strengthening the market growth. Moreover, the development of professional leagues and the active engagement in international competitions, fostering a competitive sports environment, is stimulating the market growth.

GCC Sports Betting Market Report Segmentation:

The report is organized into distinct sections as follows:

By Platform:

• Offline

• Online

Based on the platform, the market has been bifurcated into offline and online.

By Betting Type:

• Fixed Odds Wagering

• Exchange Betting

• Live/In Play Betting

• Pari-Mutuel

• eSports Betting

• Others

On the basis of betting type, the market has been classified into fixed odds wagering, exchange betting, live/in-play betting, pari-mutuel, esports betting, and others.

By Sports Type:

• Football

• Basketball

• Baseball

• Horse Racing

• Cricket

• Hockey

• Others

Based on the sports type, the market has been divided into football, basketball, baseball, horse racing, cricket, hockey, and others.

Country Insights:

• Saudi Arabia

• UAE

• Qatar

• Bahrain

• Kuwait

• Oman

Country-wise the market has been categorized into Saudi Arabia, the UAE, Qatar, Bahrain, Kuwait, and Oman.

GCC Sports Betting Market Trends:

The introduction of advanced betting software, virtual reality (VR) experiences, artificial intelligence (AI), and blockchain technology for personalized, secure, and transparent betting experiences is driving the market growth. Additionally, the adoption of strategic marketing campaigns and sponsorship deals by betting companies to enhance their visibility and legitimize their presence in the sports ecosystem is contributing to the market growth. Besides this, the ongoing cultural shift in parts of the GCC towards greater acceptance of entertainment and leisure spending due to demographic changes is acting as another growth-inducing factor. Furthermore, the growing reputation of the GCC region as a tourism hub, coupled with its substantial expatriate communities, is accelerating the market growth.

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Other Key Points Covered in the Report:

• COVID-19 Impact

• Porters Five Forces Analysis

• Value Chain Analysis

• Strategic Recommendations

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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