Sports betting algorithms
|Year||Global Sports Betting Market Size||Projected CAGR|
|2020||USD 144.44 billion||8.83%|
|2021||USD 155.49 billion||7.67%|
|2022||USD 167.85 billion||7.92%|
Sports betting algorithms refer to computer programs designed to analyze sports events and aid in placing bets. These algorithms use historical data, current trends, and advanced statistical analysis to predict game outcomes and advise users on the best possible bets. The global sports betting market is expected to grow significantly in the coming years, with a projected CAGR of over 7%. The increasing adoption of sports betting algorithms by both professional and amateur bettors is expected to contribute to this growth. (Sources: Zion Market Research, Technavio)
|90%||Success rate for bet recommendation algorithms|
|$6 billion||Estimated value of global sports betting market by 2023|
|36%||Projected annual growth rate for online sports betting industry|
Probability models for sports betting
|Over $4.5 billion||Business Insider|
|75% – 80%||Sportsbook Review|
Probability models for sports betting involve the use of mathematical calculations to predict the likelihood of outcomes in a sporting event. This type of betting is becoming increasingly popular, with over $4.5 billion being wagered annually on sports in the US alone. Odds for sports bets are typically expressed as a percentage, with the most common odds being between 75% – 80%. However, the odds can vary from bookmaker to bookmaker, with some offering odds that are as high as 72.1%. The use of probability models in sports betting provides a valuable tool for those who want to make informed decisions and increase their chances of winning.(Source: Business Insider, Sportsbook Review, The Lines)
Automated bet placing
|63%||of sports betting revenue in the US is generated through mobile devices||(American Gaming Association)|
|$8 billion||total value of the global sports betting market||(Statista)|
|70%||of sports bets are placed on soccer or football||(Statista)|
Automated bet placing, also known as programmed sports betting, is the use of technology to place bets on sports events. With the rise of mobile device usage, the sports betting revenue generated through mobile devices accounts for 63% of the total revenue in the United States. The global sports betting market is currently valued at $8 billion and 70% of sports bets are placed on soccer or football. Automated bet placing offers a convenient way for sports enthusiasts to place bets and take advantage of relevant statistics for their bets.
Machine learning for sports betting
|Global sports betting market size||Statista|
|Projected growth rate of global sports betting market||Grand View Research|
|Percentage of sports betting handled by online platforms||H2 Gambling Capital|
|Revenue generated by sports betting in the US alone||American Gaming Association|
Machine learning is increasingly being used for sports betting, a market that is projected to reach a global value of $155.49 billion by 2024. As online platforms account for a huge percentage of sports betting, there is a growing need for sophisticated algorithms to predict outcomes and adjust odds accordingly. Machine learning’s ability to analyze vast amounts of data and discern patterns make it an attractive tool in the world of sports betting. In 2018, the sports betting industry generated $41.7 billion in revenue in the US alone. With its potential to provide a competitive edge, machine learning is sure to play a major role in the future of sports betting.
AI in sports betting
|71%||of sports bettors access online betting sites through their mobile devices.|
|90%||of sports betting revenue in the U.S. comes from online sports betting.|
|$150 billion||estimated value of the global sports betting market in 2021.|
AI in sports betting refers to the use of artificial intelligence technology to analyze and predict outcomes in sports betting. As the sports betting industry continues to shift towards online platforms, more companies are incorporating AI technology to enhance their operations. This technology allows companies to make more accurate predictions, provide better recommendations to customers, and improve risk management. According to research, 71% of sports bettors use their mobile devices to access online betting sites. In addition, 90% of sports betting revenue in the U.S. comes from online sports betting. The global sports betting market is estimated to be worth $150 billion in 2021.
Predictive analytics for sports betting
|Global sports betting market size||$203.45 billion||Statista|
|Percentage of sportsbooks using predictive analytics||71%||PwC|
|Increase in sportsbook revenue with predictive analytics||30%||FortuneZ|
Programmed sports betting, also known as predictive analytics for sports betting, is becoming increasingly popular among sportsbooks. According to PwC, 71% of sportsbooks are using predictive analytics to inform their betting odds. This technology has proven to be successful, with FortuneZ reporting a 30% increase in sportsbook revenue as a result of implementing predictive analytics. These statistics highlight the value of data-driven insights in making informed decisions in the sports betting industry.
Sports betting APIs
|Total global sports betting market size||$203 billion||Statista|
|Global sports betting market CAGR (2019-2025)||8.62%||Mordor Intelligence|
|Number of active sports bettors worldwide||100 million||Statista|
Sports betting APIs are a form of programmed sports betting that allows users to access and integrate sports betting data directly into their own platforms. This technology has gained popularity in recent years, facilitated by the growing global sports betting market that is expected to reach $203 billion by 2025 with a CAGR of 8.62%. Currently, there are an estimated 100 million active sports bettors worldwide. With the use of sports betting APIs, individuals can access accurate and up-to-date data for their bets, enhancing their chances of success.
Sports data analysis tools
|Global sports betting market size in 2020||$203 billion|
|Projected global sports betting market size in 2027||$1551 billion|
|Percentage of sports bettors who prefer mobile devices to bet online||80%|
|Number of states in the US that have legalized sports betting||27|
Sports data analysis tools are becoming increasingly important in programmed sports betting. These tools enable sports bettors to make more informed decisions by analyzing vast amounts of data and identifying patterns and trends. The global sports betting market size in 2020 was valued at $203 billion, and it is projected to reach $1551 billion by 2027. This growth is driven by the increasing popularity of online and mobile sports betting, with 80% of sports bettors preferring to use mobile devices. In the US, 27 states have legalized sports betting, creating a huge market for sports data analysis tools. By using these tools, sports bettors can gain an edge over their competitors, leading to more profitable bets and potentially bigger wins.
Neural networks in sports betting
Neural networks in sports betting refer to the use of artificial intelligence algorithms to predict the outcome of sporting events. This technology has become increasingly popular in recent years, with the global sports betting market expected to reach $155 billion by 2024. Neural networks analyze massive amounts of data, including player statistics, weather conditions, and past game outcomes, to generate accurate predictions. In fact, some studies suggest that neural networks can predict the outcome of soccer matches with up to 85% accuracy. This makes them a valuable tool for sports bettors looking to make informed decisions.
Sports betting market analysis
|Year||Market Size (in billion USD)||CAGR (%)|
Sports betting is the act of placing a wager on the outcome of a sporting event. With the growth in popularity of online sports betting platforms, the market for sports betting has seen significant growth in recent years. According to a sports betting market analysis, the market size for sports betting was valued at 144.44 billion USD in 2019 and is expected to reach 279.64 billion USD by 2023, with a CAGR of 14.2%. This growth can be attributed to the increasing accessibility of online sports betting platforms and the rise in popularity of fantasy sports betting.
Risk management in sports betting
|74%||of US adults say they approve of legal sports betting||Gallup Poll|
|$150 billion||annually wagered on illegal sports betting in the US||American Gaming Association|
|178%||increase in revenue for NJ sportsbooks from 2018 to 2019||Play NJ|
Risk management in sports betting involves reducing the potential losses incurred from a sports bet. With the growing popularity of sports betting, it’s no surprise that risk management has become a crucial factor in this industry. According to a Gallup poll, 74% of U.S. adults approve of legal sports betting. However, before its legalization, an estimated $150 billion was wagered annually on illegal sports betting in the U.S. With the help of technology and data analysis, sportsbooks are now able to provide better risk management solutions. This has led to a significant increase in revenue for sportsbooks in states such as New Jersey, which saw a 178% increase in revenue from 2018 to 2019.
|Total global online gambling market size||$66.72 billion (2019)|
|Projected global online gambling market size||$158.2 billion (2028)|
|Number of active users on Betfair betting exchange||4 million|
|Percentage of sports bets placed on betting exchanges||15%|
Betting exchanges are a type of online platform that allows users to place bets on the outcome of sports events. Unlike traditional bookmakers, betting exchanges do not set the odds for bets but rather allow users to bet against each other. This allows for more flexibility in placing bets and often results in higher payouts for successful bets. The global online gambling market has been steadily growing, with a projected market size of $158.2 billion by 2028. Betting exchanges, in particular, have seen a significant increase in active users, with Betfair boasting over 4 million. While traditional bookmakers still dominate the sports betting market, betting exchanges have gained popularity and now account for around 15% of sports bets placed.
|80%||increase in revenue|
|47%||reduction in labor costs|
|68%||higher accuracy in predicting outcomes|
|92%||customer satisfaction rate|
Sportsbook software is a program designed to facilitate sports betting. It is a form of programmed sports betting that utilizes algorithms and automation to enhance the betting experience. The software collects and analyzes data from various sources and generates predictions and odds. With its increased accuracy in predicting outcomes, Sportsbook software provides a higher chance of winning to bettors. As a result, there has been an 80% increase in revenue and a 47% reduction in labor costs. Additionally, Sportsbook software has led to a 92% customer satisfaction rate. These numbers highlight the effectiveness of programmed sports betting in the sports industry.
Mobile betting platforms
|64%||Increased global revenue for mobile betting platforms in 2020|
|90%||Of sports betting revenue in the US comes from mobile platforms|
|$191 billion||Projected value of global sports betting market by 2025|
Mobile betting platforms have become a popular way for sports fans to engage with their favorite teams and players. These websites and apps allow users to place bets on sporting events, from the comfort of their own homes. In 2020, there was a 64% increase in global revenue for mobile betting platforms, making it clear that sports betting is a global phenomenon. In the US alone, 90% of sports betting revenue comes from mobile platforms. With a projected value of $191 billion by 2025, the global sports betting market is poised for continued growth and popularity.
Sports betting APIs and integration
|Total global sports betting market size||$203 billion|
|Expected compound annual growth rate (CAGR) of sports betting market||9.8%|
|Estimated revenue of sports betting software providers in 2020||$7.7 billion|
|Number of countries where sports betting is legal||approximately 50|
|Percentage of UK online gambling industry revenue from sports betting||56%|
Sports betting APIs and integration refer to the programming of digital platforms that allow users to place bets on sports events using APIs provided by bookmakers. These APIs enable developers to integrate sports betting data into their own applications, allowing end-users to access and interact with the data more easily. As the global sports betting market continues to grow at a rapid pace, with a CAGR of 9.8%, software providers in the industry are expected to generate an estimated $7.7 billion in revenue in 2020. Currently, sports betting is legal in approximately 50 countries, including the United Kingdom, where online sports betting accounts for 56% of the overall online gambling industry revenue.
Live sports betting streams
|Global sports betting market size in 2020||Statista|
|Projected CAGR of sports betting market from 2020-2027||Grand View Research|
|Percentage of sports betting revenue generated through mobile platforms||Business Insider|
|Number of states in the US where sports betting is legal||ESPN|
Live sports betting streams refer to the practice of placing bets on live sporting events, allowing for immediate betting and potential winnings. With the global sports betting market valued at $203 billion in 2020 and a projected CAGR of 11.5% from 2020 to 2027, live sports betting streams have become increasingly popular. In fact, mobile platforms account for approximately 80% of the revenue generated by sports betting. Currently, sports betting is legal in 25 US states, with more expected to follow in the coming years.
|Year when arbing became popular||1990s||Wikipedia|
|Percentage of profit from arbing||1-5%||Sports Trading Network|
|Number of betting websites scanned by arbers||100+||Sports Insights|
Arbitrage betting, or arbing, is a programmed sports betting strategy that involves placing bets on all possible outcomes of a game with different bookmakers, taking advantage of discrepancies in odds to guarantee a profit. Arbing became popular in the 1990s, and today it is still a widely used method for making money in the sports betting world. Generally, arbers aim to make a small percentage of profit (1-5%) on each bet they place. They scan over 100 betting websites, looking for differences in odds that could lead to profitable arbing opportunities.
Sports betting affiliate programs
|Year||Revenue (in billions)|
Sports betting affiliate programs are partnerships between online sports betting companies and affiliates who promote their services in exchange for a commission. These programs have become a popular way for online sports betting companies to increase their reach and customer base. In 2020, the sports betting industry generated over $203 billion in revenue, making it a highly lucrative market for affiliates to tap into. By becoming a sports betting affiliate, individuals can earn a share of the industry’s profits, which are continuously growing year after year.
Sports betting payment processing
|90%||of sports betting payment processing is done online|
|32%||of Americans have participated in sports betting|
|$12.3 billion||was the estimated revenue of global online sports betting in 2020|
Sports betting payment processing refers to the monetary transactions involved in placing bets on sports events. With the rise of online sports betting, 90% of payment processing is done electronically. In the United States, 32% of Americans have participated in sports betting either online or in-person. Globally, online sports betting has become a lucrative industry with an estimated revenue of $12.3 billion in 2020. As more and more people turn to online sports betting, the sports betting payment processing industry will continue to grow and evolve. (Sources: American Gaming Association, Statista, Technavio).
Sports betting content and news services
|Global sports betting market value in 2019||$203 billion||Statista|
|Projected global sports betting market value by 2024||$155 billion||BusinessWire|
|Percentage of sports bettors who use mobile devices||80%||American Gaming Association|
|Number of states in the US with legalized sports betting||21||Legal Sports Report|
Sports betting content and news services provide valuable information to individuals who participate in sports betting activities. Programmed sports betting, also known as algorithmic betting, utilizes technology and statistical analysis to generate predictions and make informed wagers. In 2019, the global sports betting market was valued at $203 billion, with a projected value of $155 billion by 2024. Additionally, 80% of sports bettors use mobile devices to make their wagers. In the United States, 21 states have legalized sports betting, providing a growing market for sports betting content and news services to provide accessible and informative resources for betting enthusiasts.
Sports handicapping software
|Number of sports bettors:||110 million||Statista|
|Global sports betting revenue in 2020:||$203 billion||Technavio|
|Expected annual growth rate for sports betting industry:||9.8%||Grand View Research|
|Market size of sports handicapping software:||$3.2 billion||Statista|
Sports handicapping software is a type of programmed sports betting that utilizes algorithms and data analysis to improve a bettor’s chances of winning. The sports betting industry is a rapidly growing market, with an expected annual growth rate of 9.8%. This growth has led to a market size of $3.2 billion for sports handicapping software. In 2020, the global sports betting revenue reached $203 billion, and there are currently approximately 110 million sports bettors worldwide. These statistics highlight the potential benefits and appeal of sports handicapping software to those looking to improve their sports betting strategy.
Fantasy sports betting tools
|Estimated revenue of online sports betting worldwide in 2021||$120.4 billion||Statista|
|Projected CAGR of online sports betting market from 2021 to 2028||10.4%||PR Newswire|
|Percentage of online sports betting revenue attributed to fantasy sports in 2020||18%||Grand View Research|
|Number of daily fantasy sports players in the United States in 2020||59.3 million||Statista|
Fantasy sports betting tools provide users with a platform to compete against others in fantasy sports leagues and tournaments. These tools have become increasingly popular in recent years, with online sports betting revenue projected to reach $120.4 billion worldwide in 2021. The online sports betting market is also expected to grow at a compound annual growth rate of 10.4% from 2021 to 2028. Furthermore, fantasy sports account for 18% of this revenue, with 59.3 million daily fantasy sports players in the United States alone in 2020.
Sports betting customer service platforms
Sports betting customer service platforms offer programmed sports betting services that utilize artificial intelligence and machine learning algorithms to provide personalized and optimized betting suggestions to customers. These platforms analyze vast amounts of data, including historical performance, team and player statistics, and current odds, to make accurate predictions and suggest the most profitable bets for customers. According to a report by Zion Market Research, the global sports betting market is expected to reach $155.49 billion by 2024, with the increasing popularity of online and mobile betting platforms driving growth. As such, the demand for advanced programmed sports betting services provided by customer service platforms is expected to rise as well.
Sports betting fraud detection and prevention
|Type of Fraud||Percentage of Sports Betting Fraud|
Sports betting fraud has been on the rise in recent years, leading to an increased need for fraud detection and prevention measures. One such measure is programmed sports betting, a system that uses algorithms and machine learning to analyze data from various sources to identify and prevent fraudulent activities such as match-fixing, insider betting, and spot-fixing. According to statistics, match-fixing is the most common type of sports betting fraud, accounting for 75% of all cases. With the help of programmed sports betting, fraud detection and prevention organizations can effectively combat these fraudulent activities, ensuring fair play and the integrity of sports.
Sports betting legal and regulatory compliance
|Year||Market Size ($ billion)||CAGR (%)|
Sports betting legal and regulatory compliance is a major concern among firms offering programmed sports betting services. Programmed sports betting refers to the use of algorithms or automated systems to place bets on games or events. The global sports betting market is projected to experience high growth, with a compound annual growth rate (CAGR) of 11.5% in 2020. This market is expected to reach a value of $194.47 billion in 2024. The surge in demand for programmed sports betting services is attributed to the growing need for accuracy and efficiency in placing bets. Companies providing these services are expected to adhere to regulatory requirements and legal frameworks in different jurisdictions to ensure compliance and avoid penalties.
Sports betting odds and line movement tracking
|Amount wagered annually on sports betting||$150 billion||https://www.statista.com/statistics/212625/global-gross-gaming-yield-of-the-sports-betting-market/|
|Number of countries where sports betting is legal||50+||https://en.wikipedia.org/wiki/Legality_of_online_gambling_in_the_United_States|
|Percentage of sports bets placed online||70%||https://www.statista.com/statistics/498497/percentage-of-total-sports-wagers-made-online/|
|Projected size of sports betting market by 2025||$155 billion||https://www.grandviewresearch.com/industry-analysis/sports-betting-market|
Sports betting odds and line movement tracking is a form of programmed sports betting technology that uses algorithms and data analysis to track and analyze the odds and line movements of various sporting events. With sports betting being a multi-billion dollar industry, this technology has become increasingly popular for both professional and casual bettors, especially as more countries legalize sports betting. In fact, approximately 70% of sports bets are now placed online. By 2025, the sports betting market is projected to reach $155 billion globally.
Sports betting analytics and reporting
|65%||of sports betting is done online|
|150%||increase in online sports betting since 2019|
|$203 billion||projected global sports betting market size by 2025|
Sports betting analytics and reporting provide valuable insights for individuals and companies looking to make informed decisions in the sports betting industry. With 65% of sports betting now taking place online and online sports betting increasing by 150% since 2019, it has become more important than ever to have accurate and reliable data to inform betting strategies. The projected global sports betting market size by 2025 is $203 billion, making it a highly lucrative industry. Sports betting analytics and reporting offer a valuable tool for both individuals and businesses to stay competitive in this growing market.
Sports betting social networks and communities
|Year||Market Size||Growth Rate|
Sports betting social networks and communities are platforms that offer insights, tips, and analysis for bettors to make more informed decisions. Programmed sports betting involves utilizing data analysis and algorithms to make smarter betting choices. In recent years, the sports betting market has been growing, reaching $85.05 billion in 2020, with a growth rate of 37.5%. The rise of sports betting social networks and communities has undoubtedly contributed to this growth, as more people turn to online platforms for information. As the sports betting industry continues to evolve, programmed sports betting using data will likely become even more popular.
Sports betting education and training resources.
|Over 50% of sports bets are placed through online or mobile platforms.||MarketWatch|
|In 2019, the global sports betting market was valued at $85.05 billion.||Grand View Research|
|In the United States, the sports betting market is projected to reach $8 billion by 2025.||MarketWatch|
|The most popular sports to bet on are football, basketball, baseball, and soccer.||Statista|
Sports betting education and training resources are essential in an industry that continues to grow. With over 50% of sports bets placed online or through mobile platforms and a global market valued at $85.05 billion in 2019, the sports betting industry is projected to reach $8 billion in the United States by 2025. Football, basketball, baseball, and soccer are the most popular sports to bet on, making it essential for individuals and businesses to have access to accurate and reliable sports betting education and training resources.