From GlobeNewswire:

The virtual sports market is expected to reach a value of $72.8 billion by 2033, with a strong CAGR of 16.48%. This digital form of sports betting is based on real-life sports events and has witnessed substantial growth due to internet availability, continuous betting opportunities, and advancements in graphics and simulation technology. Market opportunities are expanding worldwide, with North America holding a dominant position in 2023. Factors driving growth include technological advancements, increased internet and mobile usage, demand for 24/7 betting opportunities, cross-platform integration, and regulatory changes and legalization. Key demographic: the 21 to 34 years age group held over 42% share in 2023. The Solutions segment dominated the market with over 86% share. Football emerged as the leading game type with over 27% share. Major players in the market include EA Sports, 2K Sports, and HB Studios, who have recently made significant developments. North America holds a dominant position in the virtual sports market, accounting for over 28% share in 2023. Key factors driving its growth include a highly developed technological infrastructure, evolving legal and regulatory landscape, and a cultural affinity for sports betting. Market expansion is also driven by marketing efforts and partnerships between virtual sports providers and local sports networks or betting operators.



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