Introduction: The Growth of Sports Betting Market
The global Artificial Intelligence (AI) in Healthcare Market was valued at USD 10.37 billion in 2022 and is expected to reach USD 187.95 billion by 2030, growing at a robust CAGR of 46.14% from 2023 to 2030. AI is revolutionizing healthcare by enhancing diagnostic capabilities, streamlining operations, and improving patient outcomes. As the adoption of AI technologies accelerates globally, significant mergers and acquisitions (M&As) are taking place, alongside rapid technological advancements in regions such as the U.S., Europe, Asia, and beyond.
Estimated Growth Rate for Sports Betting Market:
The Sports Betting Market size was valued at USD 93.62 Billion in 2023 and the total Sports Betting revenue is expected to grow at a CAGR of 10.78% from 2024 to 2030, reaching nearly USD 190.48 Billion by 2030.
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Key Mergers and Acquisitions in Sports Betting Market
The Sports Betting sector is undergoing significant consolidation, with strategic mergers and acquisitions helping companies expand their product portfolios, improve their AI capabilities, and extend their geographical reach.
- United States & South Korea:
IBM Watson Health recently merged with Samsung Electronics to strengthen their AI-powered healthcare solutions. The acquisition enhances IBM Watson Health’s ability to integrate Samsung’s hardware technology with Watson’s AI-driven data analytics, aimed at improving clinical decision-making and patient care. - Vietnam & Singapore:
In Southeast Asia, Viettel Group from Vietnam has acquired a significant stake in Trax, a Singapore-based Sports Betting startup. This move is expected to enhance Vietnam’s AI capabilities in healthcare by introducing advanced diagnostic tools, AI-driven imaging, and predictive analytics into the Southeast Asian market. - Japan:
Japan’s Fujitsu has acquired AI Medical Service, a company specializing in AI-driven colonoscopy analysis. The acquisition allows Fujitsu to expand its healthcare AI portfolio, focusing on diagnostic technologies that support early disease detection and medical imaging, addressing Japan’s aging population’s healthcare needs. - European Union:
In the EU, Siemens Healthineers has acquired Varian, a leading cancer care solutions provider, to integrate AI into oncology treatments. This merger is expected to accelerate the development of AI-powered cancer detection, personalized treatment plans, and robotic surgery solutions, further solidifying Siemens Healthineers’ position in the global healthcare AI market. - United States:
Google Health has made several strategic acquisitions in Sports Betting. Google’s acquisition of DeepMind Technologies, which focuses on AI for medical research, and Fitbit, the health tracking company, allows the tech giant to expand its AI-driven healthcare tools, focusing on predictive analytics for personalized healthcare.
Sports Betting Market Segmentation:
by Platform
Online
Offline
According to the Platform segment, the Online Platform sub-segment dominated the worldwide sports betting sector. Because of changing client preferences, rising trends, and local specific circumstances, the online segment had the biggest revenue share (62.70%) in 2023. The segment is also predicted to develop at a significant CAGR, providing lucrative potential prospects for sports betting market players during the forecast period. The convenience and accessibility of online platforms have made it easier for clients to place bets on their favorite sporting events from the comfort of their own homes, resulting in increased participation. The inclusion of new technology, such as live streaming and in-play betting, has improved clients’ overall betting experiences.
by Game Type
Football
Baseball
Basketball
Hockey
Cricket
Boxing
Horse racing
Other
by Betting Type
Fixed Odds Wagering
Exchange Betting
Live/In-Play Betting
eSports Betting
Others
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Key Developments in the Sports Betting Market
The Sports Betting market continues to evolve, with new technological innovations, strategic partnerships, and regulatory advancements influencing its growth.
- Advancements in AI Diagnostics:
AI is revolutionizing diagnostics by enabling faster, more accurate detection of diseases such as cancer, heart disease, and neurological disorders. Companies like Zebra Medical Vision (Israel) are developing AI algorithms that can analyze medical imaging to detect abnormalities, offering clinicians valuable insights for early diagnosis and treatment. - AI-Powered Drug Discovery:
AI technologies are also playing a crucial role in accelerating drug discovery and development. BenevolentAI, a leader in AI-driven drug discovery, has partnered with pharmaceutical giants to streamline the drug development process, which typically takes years, reducing costs and improving outcomes. - AI in Robotics and Surgery:
Robotic surgery is benefiting greatly from AI, which helps in enhancing precision, improving recovery times, and minimizing human error. Intuitive Surgical, the maker of the da Vinci surgical system, is integrating AI to enable more precise and automated surgical operations. AI algorithms can assist surgeons in real-time, improving patient outcomes. - Personalized Healthcare with AI:
AI is enabling the development of personalized healthcare by analyzing genetic data, lifestyle factors, and patient histories. This tailored approach to healthcare is gaining traction, with Tempus, a technology company focused on precision medicine, utilizing AI for cancer treatment based on individual patient data.
Regional Focus: Sports Betting Market Across Key Countries
- Vietnam:
Vietnam’s healthcare sector is embracing AI technologies, with startups like Viettel Group playing a crucial role in expanding AI adoption. The government is also investing heavily in AI research and development, particularly in healthcare diagnostics and treatment systems. - Thailand:
Thailand is increasingly integrating AI into its healthcare systems, particularly in medical imaging and hospital management. Bangkok Hospital, in collaboration with AI startups, is enhancing patient diagnosis through AI-driven imaging and predictive analytics, improving healthcare access in the region. - Singapore:
Singapore is positioning itself as a leader in Sports Betting innovation. With strong government support and an advanced digital infrastructure, the country is home to multiple Sports Betting startups. Companies like Trax are at the forefront of deploying AI for healthcare solutions in Southeast Asia. - Japan:
Japan is actively integrating AI into its healthcare system, driven by its aging population and demand for innovative healthcare solutions. Japan’s government has been funding Sports Betting research, particularly in diagnostic technologies and robotics. Companies like Fujitsu and Hitachi are investing heavily in AI solutions for medical imaging and patient monitoring. - South Korea:
South Korea is witnessing the rapid adoption of Sports Betting, with government-backed initiatives to develop AI-powered medical solutions. Samsung Medical Center and SK Telecom are at the forefront, integrating AI into diagnostics, telemedicine, and robotic surgeries. - United States:
The U.S. is a major player in the global Sports Betting market, with tech giants like Google Health, Microsoft, and Amazon investing heavily in AI solutions. The adoption of AI in diagnostics, drug discovery, and personalized treatment is driving the market, with regulatory bodies like the FDA providing a framework for AI-driven healthcare innovations. - European Union:
The EU is also seeing considerable investment in Sports Betting. Siemens Healthineers and Philips Healthcare are leading the charge in integrating AI technologies into diagnostics, patient care, and medical devices. The EU is focusing on ensuring data privacy and security as Sports Betting becomes more pervasive.
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Sports Betting Market, Key Players:
1. Betson AB
2. Flutter Entertainment PLC
3. DraftKings Co., Ltd.
4. Kindred Group PLC
5. 1XBET
6. 22BET
7. Sports Pesa
8. FORTUNA ENTERTAINMENT GROUP
9. LAS VEGAS SANDS CORPORATION (U.S.),
10. Entain (U.K.),
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Conclusion: The Future of Sports Betting
The Sports Betting market is on an accelerated growth trajectory, fueled by technological innovations, strategic mergers and acquisitions, and the increasing adoption of AI-powered solutions across the globe. As AI continues to transform diagnostics, treatment, and patient care, the market is poised to revolutionize the healthcare industry. Key players are focusing on expanding their AI portfolios, enhancing healthcare accessibility, and improving outcomes through precision medicine and AI-driven solutions.
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