Introduction The world of sports has undergone a significant transformation in the last decade, with the rise of online sports. This domain has grown exponentially, thanks to advances in technology and the spread of the internet across the globe. This report provides an in-depth analysis of online sports, Turkey News Today including its history, growth trajectory, and future prospects. Historical Overview The first online sports betting site opened in 1996, paving the way for the online sports industry.
However, it was not until 2002 that online sports betting was officially legalized in a few countries, including the UK. The US followed suit in 2018, leading to the massive growth of the industry. The introduction of smartphones in the late 2000s and the development of mobile apps by betting companies were game-changers for sports enthusiasts, allowing them to bet and watch games in real-time, anywhere and at any time. Growth and Popularization of Online Sports Over the years, online sports have become incredibly popular, accounting for a significant percentage of the sports industry’s revenue worldwide.
The online sports market is expected to reach USD 134.5 billion by 2025, growing at a CAGR of 9.9%. The growth of online sports has been fueled by several factors, including the rise of social media and online streaming platforms such as YouTube and Twitch, which have made it easier for people to access sports content. Another factor contributing to the growth of online sports is the increasing acceptance and legalization of sports betting.
In the US, for instance, the repeal of the Professional and Amateur Sports Protection Act (PASPA) in 2018 paved the way for regulated online sports betting in several states, including New Jersey and Pennsylvania.
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