{"id":399,"date":"2021-06-23T22:27:12","date_gmt":"2021-06-23T19:27:12","guid":{"rendered":"https:\/\/xxbet-company.com\/north-american-igaming-sports-betting-market-could-reach-42b-says-cfra\/"},"modified":"2021-06-23T22:27:12","modified_gmt":"2021-06-23T19:27:12","slug":"north-american-igaming-sports-betting-market-could-reach-42b-says-cfra","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/nb\/north-american-igaming-sports-betting-market-could-reach-42b-says-cfra\/","title":{"rendered":"North American iGaming, Sports Betting Market Could Reach $42B, Says CFRA"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_34 counter-flat ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Innholdsfortegnelse<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/xxbet-company.com\/nb\/north-american-igaming-sports-betting-market-could-reach-42b-says-cfra\/#Massive_Growth_Forecast\" title=\"Massive Growth Forecast\">Massive Growth Forecast<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/nb\/north-american-igaming-sports-betting-market-could-reach-42b-says-cfra\/#Expect_More_Consolidation\" title=\"Expect More Consolidation\">Expect More Consolidation<\/a><\/li><\/ul><\/nav><\/div>\n<p>The familiar catalysts of rising consumer penetration and increasing state-level legalization could drive the North American online casinos and sports wagering market to $42 billion, according to CFRA Research.<\/p>\n<figure aria-describedby=\"caption-attachment-177258\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" class=\"wp-image-177258 lazyload\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-1-142x95.jpg?x38396\" data-src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-1-142x95.jpg?x38396\" alt=\"sports betting forecast\" width=\"1200\" height=\"800\" data-srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-1-142x95.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-1-1024x683.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-1-768x512.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-1-1536x1024.jpg 1536w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-1-2048x1366.jpg 2048w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-1-600x400.jpg 600w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" data- title=\"\"><img loading=\"lazy\" class=\"wp-image-177258\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-1-142x95.jpg?x38396\" alt=\"sports betting forecast\" width=\"1200\" height=\"800\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-1-142x95.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-1-1024x683.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-1-768x512.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-1-1536x1024.jpg 1536w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-1-2048x1366.jpg 2048w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-1-600x400.jpg 600w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" title=\"\"><figcaption class=\"text-description\">Bettors celebrate at the FanDuel sportsbook at the Meadowlands, above. CFRA forecasts big growth for iGaming and sports betting. (Image: <em>Reuters<\/em>)<\/figcaption><\/figure>\n<p>In a note to clients, analysts Andrew Tam and Tuna Amobi point out that the US sports wagering market is still in its formative stages, but gaining significant traction. That\u2019s following the 2018 <a href=\"https:\/\/www.casino.org\/news\/ohio-officials-weigh-in-on-1b-net-revenue-record-at-racinos\" rel=\"nofollow noopener\" target=\"_blank\">Supreme Court ruling<\/a> on the Professional and Amateur Sports Protection Act (PASPA). They call PASPA a \u201cwatershed event in the evolution of this market.\u201d<\/p>\n<p>The analysts see the North American iGaming and sports wagering segments ascending to $25 billion to $42 billion by 2030. The latter projection is among the highest on Wall Street, but not the rosiest forecast. Earlier this year, <a href=\"https:\/\/www.casino.org\/news\/goldman-sachs-forecasts-massive-market-for-igaming-sports-betting\/\" rel=\"nofollow noopener\" target=\"_blank\">Goldman Sachs said<\/a> online sports betting and internet casinos could jump to $39 billion and $14 billion, respectively, by 2033.<\/p>\n<blockquote class=\"main-blockquote\">\n<p><strong>Our more optimistic high case sees a $42 billion addressable market, driven by a significantly higher number of states legalizing,\u201d<\/strong> said the CFRA analysts.<\/p>\n<\/blockquote>\n<p>That forecast assumes 70 percent of Americans will have access to regulated sports in 2030, with 45 percent being able to participate in iGaming. The research firm\u2019s more conservative $25 billion scenario assumes legal sports betting will reach 55 percent of the population, with that percentage dipping to 25 percent for online casinos.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Massive_Growth_Forecast\"><\/span>Massive Growth Forecast<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Currently, sports wagering is live and legal in 21 states and Washington, DC, with another nine states legal, but not yet up and running.<\/p>\n<p>None of the big three of California, Texas, and Florida are close to going live with sports betting. However, Canada <a href=\"https:\/\/www.casino.org\/news\/amended-single-game-sports-betting-still-faces-challenges-in-canada\/\" rel=\"nofollow noopener\" target=\"_blank\">is close to passing<\/a> single-game betting, and the combination of that country coming on board, coupled with expectations that at least one or two of the aforementioned will eventually join the party, leads to bullish forecasts.<\/p>\n<div class=\"callout\">\n<p>CFRA obliges, with Amobi and Tam estimating compound annual growth rates (CAGR) of 23 percent to 30 percent over the next decade for the total addressable iGaming and sports betting markets. The analysts view increasing customer spending as a primary catalyst for the North American market going forward, and there\u2019s credibility to that thesis.<\/p>\n<\/div>\n<p><strong>For example, FanDuel parent Flutter generated $60 in revenue per US customer last year. But that figure jumps to $65 for the operator\u2019s British and Irish clients, and almost doubles to $113 for its Australian players, according to CFRA.<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Expect_More_Consolidation\"><\/span>Expect More Consolidation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The global gaming industry has long been a <a href=\"https:\/\/www.casino.org\/news\/affinity-gaming-reportedly-merging-with-daily-racing-form-publisher\/\" rel=\"nofollow noopener\" target=\"_blank\">prime area for consolidation<\/a>, and that\u2019s already proving true in the still-nascent US online casino and sports betting arenas \u2014 a trend CFRA expects will continue.<\/p>\n<p>Since late February 2018, 23 deals aimed at cross-border expansion or technology and media enhancements were struck in the industry.<\/p>\n<p>\u201cTo this end, many of the recent deals have been motivated by the strategic need for cross-border expansion as a potential accelerant to gaining critical mass, given a somewhat challenging path to sustainable free cash flow and profitability that could remain elusive for several companies,\u201d said the CFRA analysts.<\/p>\n<p>\u201cIndeed, this trend has spurred certain notable mega-deals, as some of the major land-based casinos seek to tap into the growing market opportunity, such as the Caesars\/William Hill deal, or even MGM\u2019s ultimately unsuccessful bid to acquire Entain, its joint venture partner in BetMGM,\u201d the analysts continued.<\/p>\n<p>The post <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\/north-american-igaming-sports-betting-market-could-rise-to-42b\/\" target=\"_blank\">North American iGaming, Sports Betting Market Could Reach $42B, Says CFRA<\/a> appeared first on <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\" target=\"_blank\">Casino.org<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>The familiar catalysts of rising consumer penetration and increasing state-level legalization could drive the North American online casinos and sports wagering market to $42 billion, according to CFRA Research. Bettors celebrate at the FanDuel sportsbook at the Meadowlands, above. CFRA forecasts big growth for iGaming and sports betting. (Image: Reuters) In a note to clients, <a href=\"https:\/\/xxbet-company.com\/nb\/north-american-igaming-sports-betting-market-could-reach-42b-says-cfra\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":400,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/posts\/399"}],"collection":[{"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/comments?post=399"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/posts\/399\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/media\/400"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/media?parent=399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/categories?post=399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/tags?post=399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}