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Sports Betting Market Maryland Hits USD 5.37 Bn in Mobile Wagers, Tennessee Surges 49% in June; Super Group Exits U.S. Over Betway Profit Concerns, Finds Maximize Market Research

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PUNE, India, July 11, 2024 /PRNewswire/ — The research methodology utilized in analysing the Sports Betting Market encompasses a thorough approach that combines primary data which is often collected through surveys, interviews, and focus groups with industry experts, bettors, and stakeholders such as regulators. This allows for firsthand insights into market trends, consumer behaviour, and regulatory challenges and secondary research utilizing reports from government sources, industry publications, and financial statements. Market sizing and forecasting techniques are employed alongside competitive analysis to provide valuable insights into the market landscape. The report encompasses platform, technology, game type and betting type segments and their analysis, which elucidates their influence on the market. The estimation methodology often adopts a bottom-up approach to accurately determine market sizes. 

Reports on competitive analyses encompass company overviews, financial performances, product portfolios, and strategies of key players in the sports betting market. To assess strengths and weaknesses, a comprehensive SWOT analysis was conducted, while a PESTLE analysis was carried out to understand the impact of macroeconomic factors on the market. Also, the report includes detailed analyses of investments made by market players to enhance their global presence.

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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.

Global Sports Betting Market 2023-2027: Key Highlights

Market Size in 2023:

93.62 Bn

Market Size in 2030:

190.48 Bn

CAGR:

10.78 %

Forecast Period:

2024-2030

Base Year:

2023

Number of Pages:

229

No. of Tables:

138

No. of Charts and Figures:

193

Regional Scope: 

North America, Europe, Asia Pacific, and Africa, South America

Report Coverage: 

Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

Historic Market Size 2017-2023CAGR of the market during 2024-2030.Detailed information on factors that will assist Sports Betting market growth during the next seven years.An estimation of the Sports Betting market size and the impact of country’s GDP on Sports Betting market.Forecasts on upcoming trends and changes in consumer behaviour.The growth of the Sports Betting marketAnalysis of the competitive landscape and detailed information on companies.Comprehensive details of factors that will impede the growth of Sports Betting companies.

Competitive Landscape

The Sports Betting Market includes the presence of several global as well as regional key players. A few prominent players that offer Sports Betting in the market are Betson AB, Flutter Entertainment PLC, DraftKings Co., Ltd., Kindred Group PLC, 1XBET, 22BET, Sports Pesa, FORTUNA ENTERTAINMENT GROUP, LAS VEGAS SANDS CORPORATION (U.S.), Entain (U.K.), MGM Resorts International, Wynn Resorts Holdings LLC., NOVIBET (Greece), Galaxy Entertainment Group Limited, Resorts World at Sentosa Pte. Ltd., Sun International, RTSmunity a.s., Sky Infotech and others.

The sports betting market is making another exciting offering in 2024

In 2024, Vermont is set to launch mobile sports betting on January 11 after Governor Phil Scott signed the bill in June 2023. The event is well underway and marks an important step towards nationwide sports betting continuity. New users in Vermont can earn up to $300 in sign-up bonuses from FanDuel and DraftKings at launch. Meanwhile, plans for an early January 2024 launch in North Carolina have been delayed. While no date has been set, state law mandates its actual installation by June 2024. The goal is to implement sports betting in time for March Madness, despite the initial setbacks.DraftKings launched a new peer-to-peer competition game in late 2023 called Pick6. Players outside of legal gambling states can participate by making up to six over or under predictions in statistics. Reports like Prize Picks and Underdog Fantasy are popular, and the format blurs the line between gambling and fantasy sports, leading to controversy. Despite the criticism, DraftKings aimed to capitalize on this market segment. It is the first major game book to venture into this space, and may inspire others to follow suit for additional revenue.Twelve states, including Alabama, Alaska, California, Georgia, Hawaii, Idaho, Minnesota, Missouri, Oklahoma, South Carolina, Texas and Utah, still do not allow any legal sports betting. Meanwhile, states like New Mexico, Delaware and North and South Dakota allow in-person but not online gambling. As major markets, California and Texas are expected to remain without legalized sports betting for one year. California faced challenges from its Tribal Game Commission, delaying progress. In Texas, Gov. Dan Patrick has blocked the effort, and with no legislative session in 2024, any legislative proposals will have to wait until 2025, despite resident support.

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Market Overview

Sports betting is gradually proving to be another source of revenue for the sports industry; billions of dollars are spent on various athletic performances every year. The legalization of sports betting in many countries has created new opportunities for collaboration between sports bodies and betting companies, which has led to increased revenues. Therefore, the sports betting sector contributed a large portion of its global revenue slice of the sports market. It has also promoted engagement and passion for sports among fans as those who are watching the games stand to benefit from the outcome financially. Nevertheless, some possible ethical issues and other adverse effects have been voiced concerning sports betting, including the tendency for match-fixing and gambling disorders, which have become an obstacle to the development of the sports betting market.

In 2023, the sports betting industry in America experienced significant growth, marked by the launch of multiple new markets and the introduction of new sportsbook brands. States like Ohio, Kentucky, Massachusetts, and Maine began to embrace sports betting, helping create a vibrant industry. Ohio in particular emerged as a key state with more than $7 billion in wagers and substantial taxable revenue. Massachusetts implemented changes to advertising laws for sports publications, affecting state promotion guidelines. Meanwhile, Florida saw the revival of its sports betting market following legal challenges, with the Hard Rock Bet app re-entering the scene after court rulings favored its operations. Newcomers like Fanatics Sportsbook and ESPN BET have entered the fray, signaling a potential shift in market leadership dominated by established players like FanDuel and DraftKings. Overall, 2023 will be remembered as a pivotal year for the sports betting industry in the United States, marked by expansion, regulatory challenges and the influx of impressive new operators.

Sports betting in 2024 is painted with brushstrokes of innovation, personalization and cutting-edge technology.  As the industry continues to evolve, bookmakers can expect a more immersive, safe and social experience. From the rise of esports to the integration of cryptocurrency and sophisticated betting in sports, the future of sports betting will be a testament to how flexible and revolutionary an industry can be that continues to push the boundaries of what’s possible.

Segment Overview

MMR has segmented the market based on by Platform (Online, Offline), 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), and Region (APAC, Europe, North America, Middle East and Africa, and South America).

Based on the Platform segment, the Online Platform sub-segment dominated the global sports betting industry. Thanks to the changing customer preferences, emerging trends, and local special circumstances, the online segment held the highest revenue share of 62.70% in 2023. The segment is further expected to grow at a substantial CAGR and offer lucrative growth opportunities for the sports betting market players during the forecast period. The convenience and accessibility of online platforms have made it easier for customers to place bets on their favorite sports events from the comfort of their homes, leading to an increase in participation. The integration of advanced technologies, such as live streaming and in-play betting, has enhanced the overall betting experience for customers. The rising adoption of mobile devices for online betting is also driving the segment’s growth, as customers can now place bets anytime and anywhere.

Several key trends have shaped the future of online sports betting.  Mobile betting continues, making it easier and offering an enhanced experience through improved apps. Betting on sports is on the rise, helped by real-time updates and integration with streaming services for dynamic betting options.  Cryptocurrency adoption is expanding, allowing for faster transactions and greater privacy, although withdrawal methods are still worth considering. AI and data analytics play a key role in decision-making, from predicting outcomes to detecting anomalies. Esports gambling is booming, with growing markets and partnerships fueling its popularity. Regulatory changes around the world, such as the recent introduction of Brazilian legislation, reflect an increasing number of industries that are being scrutinized for their compliance and consumer protection. Virtual Reality (VR) and Augmented Reality (AR) are emerging technologies poised to revolutionize gambling experiences, providing an immersive environment and enhanced fan engagement. Through platforms such as social media and peer communities, social betting provides an interactive experience and community engagement.

Since the legalization of sports betting in the United States, the industry has experienced phenomenal growth. In February 2024, total alcohol consumption in all states with legalized sports betting was exceed $310 billion. Leading the pack are New Jersey, Nevada, New York, Illinois and Pennsylvania, which together account for more than half of the alcohol. In 2023 alone, the total sports betting arm reached more than $119 billion, up 28% from last year. This follows the biggest growth since 2021, when total consumption was $57 billion, driven by the legalization of sports betting in several new countries. A key driver of this growth is the increasing number of people involved in sports betting. From January to December 2021, the number of adults betting on sports regularly increased by 80%. As of January 2024, legal sports betting will be available in 38 states, most of which allow retail betting, and about 30 allow online betting. FanDuel and DraftKings dominate the market, holding most of the market share together. FanDuel remained in first place but faced competition from DraftKings, which briefly surpassed it in late 2023, before FanDuel regained the lead in early 2024. This competitive edge highlights the rapid growth and competition in the US. emphasis on the sports betting industry.

Sports Betting Handle, Revenue, Hold, & Taxes Statistics by State in Most Recent Month

RANK

STATE

HANDLE

REVENUE

HOLD

TAXES

MONTH

1

New York

$1,965,468,151

$211,706,706

10.80 %

$107,887,645

Jan-24

2

New Jersey

$1,719,170,088

$170,758,334

9.90 %

$24,346,725

Jan-24

3

Illinois

$1,314,056,821

$126,360,303

9.60 %

$20,517,094

Dec-23

4

Pennsylvania

$858,106,230

$97,672,796

11.40 %

$25,169,556

Jan-24

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Geography Overview

The United States led the North America sports betting market with the highest revenue share of 78.45% in 2023 and the United States sports betting market is expected to grow at a CAGR of 8.12% during the forecast period. According to the MMR analysis, there has been substantial growth and financial influence of the sports betting industry in the United States in recent years. The total United States tax revenue, from sports betting, has exceeded USD 5 billion, achieved in less than six years since its legalization beyond Nevada’s borders in 2018. In 2023, over 40% of the total tax revenue, worth USD 2.15 billion was generated from sports betting, indicating a prosperous year for sportsbook operators. The known hold on total sports betting income remained at 9.1%, significantly above the industry average of 7% in 2022.

Related Reports:

Online Gambling and Betting Market size is expected to reach nearly USD 132.99 Billion by 2030 with a CAGR of 9.98% during the forecast period.

Global Board Sports Market is projected to grow at a CAGR of 5.3% during the forecast period, from 2024 to 2030, to reach a market size of USD 52.90 Bn. by 2030, up from USD 36.85 Bn. in 2023.

B2B Sports Nutrition Market was valued at USD 4.50 billion in 2023 and is expected to grow to USD 7.29 billion by 2030, at a CAGR of 7.14 % during the forecast period 2024-2030.

Fantasy Sports Market size was valued at USD 25.97 Billion in 2023 and the total Fantasy Sports revenue is expected to grow at a CAGR of 7.8% from 2024 to 2030, reaching nearly USD 57.4 Billion by 2030.

Sports Betting Kiosk Market is expected to grow at a CAGR of 7.05% during the forecast period and the market is expected to reach US$ 2.41 Bn. by 2030.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems.

Contact Maximize Market Research:
3rd Floor, Navale IT Park, Phase 2
Pune Bangalore Highway, Narhe,
Pune, Maharashtra 411041, India
sales@maximizemarketresearch.com
+91 96071 95908, +91 9607365656
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Muyuan Foods Group, a Global Leader in Pig Farming, to Showcase Smart Pig Farming and Green Development Solutions at EuroTier 2026

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November 7, 2026

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HANOVER, Germany, Nov. 7, 2026 /PRNewswire/ — From November 10 to 13, Muyuan Foods Group (002714.SZ/02714.HK) will participate in EuroTier 2026 in Hanover, Germany. As a global leader in pig farming, Muyuan marketed 77.98 million pigs and slaughtered 28.66 million pigs in 2025. At Booth J04 in Hall 15, Muyuan will showcase integrated solutions across two key areas: Smart Pig Farming and Green Development.

Smart Pig Farming: This section will focus on pig house upgrades, biosecurity management, and intelligent equipment. Smart pig houses enable precise control of environmental parameters, while more than 30 types of intelligent equipment across five categories, including inspection robots and intelligent feeding systems, integrate key production operations into digital management systems. These solutions help improve operational efficiency, optimize costs, and drive the development of standardized and precision-driven farming practices.

Green Development: This section will feature solutions for environmental management, sterilization and deodorization, and renewable energy. Muyuan achieves 100% resource utilization of livestock manure, promoting the crop-livestock cycle and supporting a circular agricultural model. Sterilization and deodorization technologies continuously improve the farming environment, while renewable energy solutions contribute to carbon reduction and emissions mitigation. In 2025, Muyuan achieved carbon emission reductions of 6.06 million tons across its entire value chain, demonstrating its commitment to low-carbon and sustainable development.

Together, these two areas provide customers with a comprehensive, one-stop solution covering the entire pig farming process.

Throughout the exhibition, Muyuan’s international business team will provide multilingual technical presentations, one-on-one business consultations, and live demonstrations of intelligent equipment. Muyuan warmly welcomes industry professionals and partners from around the world to visit Booth J04 in Hall 15. Let us work together to advance the high-quality development of the global livestock industry and explore new opportunities for cooperation!

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SOURCE Muyuan Foods Group

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Home Companion Robot Mobo to Debut Globally and Open Pre-orders as AiMOGA Showcases Its Robot Family at the 2026 OMODA & JAECOO International User Summit

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November 7, 2026

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WUHU, China, Nov. 7, 2026 /PRNewswire/ — As AI becomes part of everyday family life, how will it transform the homes of the future? The 2026 OMODA & JAECOO International User Summit, co-presented by CHERY, OMODA｜JAECOO, ICAUR, Lepas and AiMOGA, took place in Wuhu from October 19 to 24 under the theme “DRIVE TO THE NEXT VIBE.” During the summit, AiMOGA Robotics officially launched Mobo—its consumer-grade humanoid robot for home companionship—and opened global pre-orders. The launch took embodied AI into the home, extending proven automotive-grade technologies and supply-chain capabilities beyond vehicle manufacturing to a broader ecosystem of intelligent living.

Meet Mobo: A Thoughtful, Expressive and Caring Companion. A key highlight of the summit, Mobo makes its global debut with pre-orders opening worldwide. Having previously appeared at the World Robot Conference and the World Manufacturing Convention, it has already drawn strong interest. Powered by AiMOGA’s proprietary MoAgent AI brain, Mobo goes beyond rigid single-command responses: it independently breaks down complex instructions and plans long-horizon tasks, turning Q&A into goal-driven assistance. Designed for family life, it combines spatial perception with multimodal interaction—autonomous navigation, dynamic obstacle avoidance, and voice-plus-vision conversation that identifies objects and makes companionship feel natural. With a full-body motion system of 22 degrees of freedom, it delivers smooth movements and dance routines, remembers each family member’s habits and preferences, and builds in privacy protection from the outset—a companion blending advanced technology with warmth and care.

Bringing Automotive Expertise to Robotics. Unlike start-ups building from scratch, AiMOGA draws on the extensive automotive engineering experience and global R&D network of CHERY and its brands—OMODA｜JAECOO, ICAUR and Lepas—adapting proven technologies, including high-precision environmental perception and automotive-specific large AI models, for robotics. During the summit, its full robot portfolio will appear in zones recreating real-world applications: police robots patrolling mock traffic settings, healthcare robots guiding visitors, Mornine acting as an AI presenter, the Argos Pro quadruped demonstrating following and load carrying, and Mobo offering hands-on demonstrations as pre-orders open. AiMOGA already operates robots across more than 100 use cases—from dealerships and retail to traffic management, security, education and healthcare—with cumulative deliveries exceeding 3,000 units across more than 60 countries and regions.

Beyond Automotive Manufacturing. As these brands move from vehicles into robotics, they extend accumulated R&D, supply-chain and manufacturing expertise to wider intelligent applications; automotive–robotics integration provides the industrial foundation, while the MoAgent brain supports understanding, planning and execution. Guided by the philosophy “In Somewhere, For Somewhere, Be Somewhere,” CHERY, OMODA｜JAECOO, ICAUR, Lepas and AiMOGA are bringing intelligent technology into everyday life and delivering meaningful support to people worldwide.

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CassTime Unveils AI-Driven “T+D Solution” to Tackle Data and Repair Bottlenecks in the Global Automotive Aftermarket

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November 7, 2026

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LAS VEGAS, Nov. 6, 2026 /PRNewswire/ — At the recently concluded AAPEX 2026, more than 45,000 professionals from 128 countries and regions and over 2,500 exhibitors gathered in Las Vegas, a clear sign of sourcing demand across the global automotive aftermarket. At the same time, a long-standing industry challenge has become harder to ignore: as vehicle model counts keep climbing and model refresh cycles shorten, global repair networks are commonly facing difficulties in parts data matching, fragmented supply sources, low quotation efficiency, and insufficient repair technical capabilities.

In response to these bottlenecks, Li Li, CEO of International Business at CassTime, introduced an AI-driven “T+D Solution” at the 2026 CassTime Partner Conference. T refers to Digital Trade, which connects supply with overseas procurement demand through the CassChoice platform; D refers to an intelligent localized service platform, which uses PartGrid to bring parts matching, repair support, and insurance claims assessment capabilities to local markets. The solution has already been put into practical operation in markets such as Saudi Arabia.

Industry Bottlenecks: Data Matching and Repair Capability Are Global Challenges

Li Li noted that channel and market-access conditions vary significantly across regions: the Middle East has many new vehicle models and a growing number of supply channels; Brazil has a complex channel and market-access system; Central Asia’s supply channels are being restructured; and North America has mature certification and channel requirements for branded parts. The common challenges are concentrated in four areas: data matching, supply stability, quotation and delivery efficiency, and local repair service capability. Insufficient data leads to matching difficulties, fragmented demand leads to unstable supply, and local repair capabilities are difficult to build up quickly.

“After decades of development, the automotive aftermarket has formed a complete supply chain system, and CassTime has also built a digital system covering the entire value chain,” Li Li said. “We hope to translate proven digital practices into a holistic solution that can be implemented overseas, covering both parts and repair services.”

Li Li emphasized that China’s auto parts industry has been tempered through intense competition and has long built a comprehensive domestic supply chain. In particular, its parts SKU coverage for Chinese-brand vehicles is especially complete: Chinese vehicle models have a large installed base and rapid update and iteration cycles. Leveraging deep accumulation in the local market, CassTime has formed the industry’s most complete coverage in parts data, VIN decoding, and repair cases for Chinese-brand vehicles. This is also the foundation of the T+D Solution. Supported by this most complete Chinese-brand vehicle SKU database, wherever Chinese-brand vehicles go in the world, CassTime can bring along the parts supply and repair experience already proven in China, enabling overseas partners to share the best practices of China’s supply chain.

CassChoice: Digital Trade to Solve Supply-Demand Matching Challenges

In traditional procurement scenarios, when a customer submits demand for hundreds of thousands of SKUs, it usually requires manual order splitting, separate inquiries to multiple suppliers, quotation consolidation, and delivery in batches—a long and inefficient process. The CassChoice system can automatically break down demand, generate batch quotations, track order status, and output reports. The relevant data can also be used for demand tracking and analysis—a direct manifestation of using AI and digital tools to solve “difficult data matching and fragmented supply.”

According to CassTime, its overseas platform has accumulated more than 5 million SKUs—with particularly complete SKU data for Chinese-brand vehicles—and can generate quotes in seconds for more than 10,000 SKUs. On the supply side, CassChoice connects factories, brands, and distributors, helping overseas customers complete sourcing, procurement, and local delivery, and efficiently matching fragmented supply with fragmented demand on a digital platform.

PartGrid: AI Agents to Fill Local Repair Capability Gaps

To address matching challenges caused by the large number and rapid updates of vehicle models, PartGrid integrates CassTime’s VIN decoding system to help local partners achieve precise matching just as they would in China, reducing error rates. Multilingual communication is handled by AI, enabling barrier-free interaction. The platform can use formats such as WhatsApp Chatbot to connect with local users, adapting to the usage habits of small repair businesses and end users.

Beyond parts circulation, PartGrid also provides three AI agent service capabilities: an AI Repair Master, which synchronizes accumulated repair data and cases to local markets to help solve technical difficulties, especially overseas repair of Chinese vehicle models; an insurance claims assessment agent, which combines real-time fault analysis, parts matching information, and labor-hour estimation to support efficient implementation of insurance business; and an AI Seller, which provides accurate and timely quotations around the clock. Together, these three capabilities form a localized service loop of “parts + repair + insurance,” directly addressing the industry bottleneck of “repair capability falling behind.”

Saudi Arabia Case: Localized Operations Starting from Claims Scenarios

CassTime’s partner in Saudi Arabia is a Middle East technology company that manages insurance business. Its digital platform, Tamam, handles related business for nearly half of Saudi Arabia’s insurance companies. The two parties began their cooperation with online access in claims scenarios: through PartGrid, the partner’s platform connects local car owners, workshops, and the supply chain to enable digital tracking and management of the process; through CassChoice, it connects supply, opening up the parts value chain from source to end user.

On this basis, the cooperation has three expansion directions: extending application scenarios from claims to more end-user demand; as workshops adoption and business volume grow, more local suppliers join the platform; and upstream factories, brands, and distributors connecting to supply.

At present, CassTime has advanced implementation in the Middle East and is extending the mature model to Central Asia, South America, and other regions, accelerating the construction of a global parts service network. CassTime stated that it will continue to rely on AI and digital capabilities and work with local partners to jointly build a sustainable overseas service ecosystem.

About CassTime

CassTime Holding Co., Ltd. ( “CassTime”) is a leading digital intelligence platform for the automotive aftermarket in China. It is committed to building AI-enabled digital infrastructure for all participants across the automotive aftermarket value chain, driving the industry’s upgrade toward digital intelligence, standardization and efficient collaboration. The company focuses on auto parts trading, supply chain integration, digital intelligence management for workshops and end-consumer vehicle owner services. It has built a full-value-chain ecosystem covering upstream OEMs and auto parts manufacturers, auto parts distributors, auto service workshops and car owners.

Media Contact

Ben Chan
General Manager, North & South America
Email: ben.chen@casstime.com 
Phone: +86 186 6512 3710

Related Links

CassChoice – China Auto Parts, Direct Supply Worldwide

https://www.facebook.com/people/CassTime/61595799821591/

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