The contours of the emerging sports gambling space were upended significantly by the pandemic. Thanks to widespread lockdowns and stay-at-home restrictions, the live sports betting industry was dealt a body blow by prolonged closures and shutdowns that impacted everything from March Madness to the Olympics.
However, the industry has gradually regained its mojo in the years since - particularly the offline segment, which was impacted more acutely by the ravages of the pandemic. According to a report by Grand View Research, the growth prospects for global sports betting are robust, with estimates calling for a compound annual growth rate (CAGR) of 10.3% through 2030. Growth in the online market is estimated to outpace the broader sector, with revenue from online sports betting expected to clock a CAGR of 17.33% between 2023 and 2027 to reach $14 billion.
