Online Sports Betting
The placing of wagers on sporting events is probably one of the world’s oldest pastimes. Popular throughout the world, the growth of online sports betting has been underway for many years. In 2006 the global online sports betting market, including betting exchanges, was estimated to be worth approximately $5.6 billion, having grown at a compound annual rate since 2000 of 21%9. Excluding the US, which is estimated to be the largest online sports betting market in the world, GBGC estimates that the size of the online sports betting market was approximately $2.6 billion in 2006. It predicts that, in the absence of any material changes in the regulatory environment, this will increase to approximately $3.8 billion by 2010, implying a compound annual growth rate of 9.2%. The popularity of different sports by territory also impacts the mix of sports that attract wagers. In the UK, horseracing and football are particularly popular while in other parts of continental Europe football and tennis are among the most popular events.
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