5G Driving Online Sports Betting
The increasing adoption of 5G networks is expected to drive the sports betting market growth in the forecast period. The technology allows more devices to be connected at a time and promises to reduce latency, which could keep fans on their phones longer and encourage more of them to wager while they watch. Outside stadiums, 5G service could enable fans to make mobile bets while simultaneously streaming games on their phones. According to Ericsson’s latest Mobility Report, the number of worldwide 5G smartphone subscriptions in 2021 will increase to 600 million, increasing by 3 times the 2020 total. By 2022, 5G subscriptions are expected to surpass the one-billion mark, thus driving demand for sports betting.
The global sports betting market size is expected to grow from $89.65 billion in 2021 to $99.20 billion in 2022 at a compound annual growth rate (CAGR) of 10.64%. The global sports betting market share is expected to reach $144.34 billion in 2026 at a CAGR of 9.83%.