Europe's sports betting market is set to grow in 2021

While some wager on the outcome of sporting events to make money, others take pleasure in getting into the middle of the action. The gross revenue gambling of European countries is believed to be the highest in Italy and the United Kingdom. Then come Germany, France, and Spain. The biggest betting groups are either British or Scandinavian, but let's not forget about the smaller companies coming from Poland and Germany. Each country has its own rules and regulations when it comes to sports betting, allowing citizens to wager responsibly. Bookmakers allow bets on everything from horse races to football.

In the midst of a global pandemic, online betting is on the rise, with an ever-increasing number of people signing up for new betting accounts. Boredom, as well as enticing promotions, were the main reasons why gambling spend has increased so much. There's no reason to lament the current situation in which companies are seeing an increase in revenue owing to increased use of online sports betting platforms. While land-based sportsbooks are struggling to survive, the online betting markets are doing pretty good. It's strongly believed that the European sports betting market will experience considerable growth in 2021, reaching a CAGR of 9.20% between 2021 and 2025. According to the experts, it will grow at approximately 10 percent per year, while the economic size of the European sector is expected to reach €29.3 billion in 2022.

What explains the growth of the European sports betting market?

One of the most striking moments in the history of sports betting is represented by the introduction of the online platform. It has facilitated the wagering of money (or something of value) on the outcome of an event or game, via the Internet. Since the advancement of the Internet, sports betting has increased in popularity. At present, there are countless websites where you can place wagers online. The introduction of mobile gaming, which took place not that long ago, has brought about drastic change. Owing to technological innovations, enthusiasts are now able to enjoy gambling and betting anywhere and at any time. By deploying a remote device such as a smartphone or tablet and a wireless Internet connection can play games of chance.

Not many know that Europe is a genuine leader when it comes to digital entertainment. To be more precise, the EU market is the largest and most competitive one in terms of web-based gambling, successfully engaging a substantial portion of the audience, which doesn't cease to increase by the day. Sports betting is legalized in many parts of the world, including but not limited to Australia, Canada, Mexico, South Africa, India, and Ghana. Let's focus our attention a little bit on India, which is an interesting case. Types of gambling are selectively allowed throughout the country; these are horse racing, lotteries, and casino gambling. Each state has a separate legislation concerning gambling, so it's necessary to seek professional sports betting information. Roughly 40% of people who use the Internet do so to gamble. Getting back on topic, European companies are looking forward to extending their reach and expertise to new markets. We can't wait to see what the future holds.

The global sports betting market is dominated by Europe and North America largely favored by factors such as the increase in PCI, higher adoption, growing interest, not to mention the rise in dual-income households. China is among the fastest-growing within the cluster of regional markets. Led by countries such as India, the market in Asia-Pacific is set to reach US$94.2 Billion by the end of 2027. One of the main reasons why sports betting is so popular in Europe is that the continent imposes the strictest regulating bodies, which undoubtedly instills a sense of trust. The European Gaming and Betting Association, for instance, works in tandem with national authorities to provide a high level of consumer protection and take into account the existing digital realities. All operators adhere to strict policies that make them accountable for gambling operations.

Football is the most popular sport you can bet on in Europe

The frequency of sports bets varies from culture to culture, yet European countries have one thing in common: the vast majority of wagers are placed on football. This isn't surprising considering that Europeans love football so much. This sport has an enormous following, with millions of fans in Spain, Italy, Germany, France, and the UK. The modern-day variant of football has its origin in England, where the rules of the game were established in the 19^th century. At present, football is watched and played by millions of people across the globe. To put it simply, it's the most popular and profitable sport to place bets on. Wagering on the outcome of the game or event involves predicting whether there will be a win or draw.

There are several opportunities for experienced bettors, who can steer away from the simple forms of betting. More exactly, it's possible to bet on the result of the first or second half, who will score the most goals, or the number of corner kicks. Some prefer betting on the number of yellow cards and red cards. As far as football betting is concerned, it's paramount to do your research. It's necessary to look into the stats and historic score patterns to improve the odds of predicting the outcome correctly. Betting online is as simple as it sounds. The most important thing is deciding where to bet. It's paramount to select a bookmaker with a good reputation. The website should have the necessary licensing and provide extraordinary customer service.

According to the statistics, the most successful bettors are the citizens of Sweden, Hungary, and Ukraine. At the bottom of the rankings, we can find the citizens of Spain. All in all, sports betting sites have witnessed increased activity in the past months, the number of active users growing by more than 50%. It's safe to say that sports betting operators are the winners of the global pandemic.