In 2024, the global sports betting market is expected to continue its steep growth trajectory, a result of various technological advancements and market trends. With a projected Compound Annual Growth Rate (CAGR) of 4.6%, the market is anticipated to reach $137.48 billion by 2028. This growth is driven by increased interest in virtual sports betting, product innovations, the expansion of 5G networks, a surge in mergers and acquisitions, global urbanization trends, and rising internet penetration rates.

Notably, the adoption of Augmented Reality (AR) and Virtual Reality (VR) technologies, the enhancement of mobile betting services, the integration of Artificial Intelligence (AI) into betting platforms, increased investment and strategic partnerships, the utilization of blockchain technology, and the integration of live streaming into mobile sportsbooks are among the key trends. These are improving user experience and fostering market expansion.

The global expansion of sports leagues and events also plays a crucial role in driving this growth. Across various sports, there are over 100 professional leagues active worldwide, and the emergence of new pro sports leagues is providing consumers with diverse betting opportunities. This activity is particularly vibrant in international championships, club competitions, and national contests, further accelerating the growth of the sports betting market.

Technological advancements are revolutionizing the sports betting experience. The integration of AI and blockchain, in particular, stands out as a noticeable trend in the market. Sports betting applications are leveraging smart contracts to automate real-time data processing, payment processing, bet confirmation, among other tasks, enhancing transparency and efficiency. Companies like Bitgame, based in Poland, are leading this trend by utilizing blockchain technology to offer a secure and seamless betting experience to their users.

In conclusion, the sports betting market in 2024 is poised to open new horizons of growth through technological innovation, the expansion of global sports events, and improvements in user experience. This will be achieved not just through economic value growth but also through the integration of various technologies and strategic partnerships shaping the future of the sports betting industry.