sports betting industry dollar size 2025

A National Sports Industry Policy from the same year estimated that the industry could generate up to $4.7 billion in annual revenue (AAR), create up to 10 million jobs, and generate between 1.5-3% of GDP over ten years. In 2020, Nigeria’s betting industry crossed the $2 billion mark, with over 60 million Nigerians between 18 and 40 spending $5.5 million daily. According to the report, the prominence of betting apps was relatively low compared to the widespread presence of physical betting outlets across most of Nigeria’s major cities. gambling in the future.A March 2023 report by Orange Business Intelligence Technology ( ORBIT), a unit of Orange Group Nigeria, reveals an interesting insight into Nigeria’s betting industry. If more states continue to grow their gambling markets by allowing sports betting and online forms of gambling, Las Vegas may not be the only home of U.S. While Las Vegas has had a long time to establish its gambling stronghold, it faces more competition now that sports betting has been legalized on a federal level. In addition, the Las Vegas-based company MGM Resorts was the leading casino company in the world by revenue. dollars in 2021, up from the previous year’s total of 6.75 billion U.S. Given Las Vegas is famed for its casinos, it may come as no surprise that casino gaming revenue in Nevada amounted to 8.45 billion U.S.

A mid-2021 survey determined that the share of visitors who gambled in Las Vegas in the U.S. Millions of people visit Las Vegas each year with the intention of gambling. Approximately 60 percent of sports bettors considered the ease of cashing out to be very important, while only 21 percent of sports bettors considered that same category to be somewhat important. Meanwhile, during that same month, the most important factors among regular sports bettors when choosing a sports betting service in the U.S. As of December 2021, the most commonly used sports betting service by regular sports bettors in the U.S. in 2018, leading to each state being able to do as it pleases in regard to legislating and legalizing sports betting. Sports betting was legalized at the federal level in the U.S. In 2021, the total sports betting revenue in the U.S.

Sports betting industry dollar size 2025