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Report
Sports Betting Kiosk - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2022 - 2029
Market Report I 2024-02-17 I 120 Pages I Mordor Intelligence
The sports betting kiosk market was valued at USD 2.14 billion in the year 2024, and it is anticipated to reach a market value of USD 3.22 billion by 2030, at a CAGR of 7.0%.
Key Highlights
-The continued growth of the digital channel globally, driven by the response to the pandemic on the one hand, by the development of immersive betting applications and the increasing convenience of gaming on Kiosk devices, together with the ongoing liberalization of sports betting worldwide, will drive the market in the studied period.
-The advantage of betting kiosks is to provide more convenient and accessible ways to wager on sports, trimming down on wait times and eliminating standard barriers to the sports betting market. In 2022, convenience and accessibility are the name of the game, and implementing sports betting kiosks is just one of many sports betting marketing techniques sportsbooks are now beginning to utilize. In-person, this specialized technology terminates the need to wait in line at a window to place a bet and the intimidation aspect of having to put that bet with a sportsbook staff member.
-International iGaming service provider, these customized self-service betting terminals have been introduced to maximize the total number of gambling opportunities for consumers. Everyone bets on many sports and fast-paced lottery games such as roulette and keno. More and more people are moving away from the conventional retail experience. The result is faster and more dynamic wagering and a more immersive all-around betting experience due to the sheer number of customization and personalization options tailored directly to the user.
-Every country has its own rules and regulations regarding betting and gambling. There are some nations where betting and gambling are legal; on the other hand, there are some countries where gambling is illegal. It means sports betting companies and gamblers must closely monitor the recent regulation changes. In nations where gambling is legal, betting industries require a domestic license to regulate it. Thus, regulations among different countries will be the biggest challenge.
-Three years into the pandemic, the sports betting sector emerged relatively unscathed from the global tumult caused by COVID-19. Despite lockdowns that severely impacted retail footfall and an absence of sporting fixtures that afflicted sports betting opportunities, both at the beginning of the pandemic, the sector rebounded in 2021, moving aggressively to online, optimizing retail sales channels otherwise, and innovating game content through new product launches and via the additions of extras and sundries to existing brands. In 2022, with the worst pandemic apparently in the rearview mirror, the industry went from strength to strength.
Sports Betting Kiosk Market Trends
Retail and Casino will dominate the Market
- With a developing new industry on the horizon, companies are working to capitalize on the new opportunities in sports gambling. Casinos must be well-prepared for the influx of new customers herding to their venues in hopes of putting their first legal sports bet. As a result, multiple casinos find that sports betting kiosks provide an automatic self-service solution to handle a higher volume of sports wagers without requiring additional customer service staff.
- With such expected economic growth in the gambling industry, casinos must do their best to facilitate betting services. Sports betting kiosks will be a crucial factor in perfecting this method as they will improve the customer experience and improve betting revenues for operators. Kiosks will enhance the customer experience by cutting down wait time. Customers will be able to place a bet immediately. With multiple betting kiosks available, customers can place a wager whenever possible. In turn, this will increase revenue with more total bets placed.
- In July 2023, International Game Technology PLC revealed that its award-winning IGT PlaySports technology is now powering retail sports betting at Palace Casino Resort in Mississippi. Palace Casino Resort guests now have the option to visit the contact Sports and Race Book to place a range of pre-game and in-play wagers at the venue's four walk-up betting windows or via the IGT PlaySports-powered sportsbook's four self-service betting kiosks. Palace Casino Resort is also leveraging the services and expertise of IGT PlaySports' trading advisory team.
- Further, In January 2023, Kansas Crossing Casino in Pittsburg now allows sports betting. The casino unveiled three new kiosks as part of a partnership with Caesars Sportsbook. The kiosks allow for pre-game and live sports betting. Last year in Kansas, sports betting became legal in state-owned casinos. The four casinos contracted with the state to deliver sports wagering through independent platforms were Ford County near Dodge City; Boot Hill Casino & Resort; Kansas Star Casino in Mulvane; Hollywood Casino at Kansas Speedway, Kansas Crossing Casino & Hotel and Kansas City, KS; and in Pittsburg.
North America is Expected to Hold the Significant Market Share
- According to research revealed by the Fantasy Sports & Gaming Association (FSGA) during its annual Winter Conference last year, the sports betting and fantasy sports industries have just scratched the surface regarding potential participants. While fantasy sports and sports betting markets have experienced significant recent growth, most Americans have yet to participate; 193 million did not bet on sports, and 203 million American adults did not play fantasy in the past year. The opportunity for further growth is ample; among those that don't experience, there is a significant pool of future new players and bettors; 19 million and 17 million current non-players/bettors are at least somewhat likely to start playing betting and fantasy on sports respectively in the next year.
- With the official launch of legal sports wagering in Ohio, FanDuel Group and Boyd Gaming revealed the availability of the FanDuel Sportsbook within the state and the commencement of a new retail sportsbook at Belterra Park Cincinnati. Sports fans at least 21 years of age in Ohio can download the FanDuel Sportsbook app for Android and iOS or bet via desktop computers and kiosks once the strict verification process is completed.
- SB22, a Dallas-based provider of sports betting platforms, has launched its K22 kiosk and retail sports betting solution. The standalone, self-service terminal does not require a sportsbook and offers SB22's patent-pending BetLucky option for assisted parlay selection. The K22 integrates CMS and loyalty systems while delivering TITO interoperability and functionality with all gaming and related equipment.
- On September 2023, According to a press release, the Kentucky Governor placed the first bet at Churchill Downs to launch in-person sports wagering in Kentucky. He placed a $20 parlay bet for the "over" on wins for the University of Kentucky and University of Louisville football teams and the "under" on Duke University's football team. After full implementation, sports wagering is expected to increase the state's revenue by an estimated $23 million a year. The increase in income will support the oversight of sports wagering and then be dedicated to the Kentucky permanent pension fund. The state established an excise tax on sports wagering: 9.75% on the adjusted gross revenues at a licensed facility and 14.25% on online or smartphone wagers. Additionally, 2.5% will support the Problem Gambling Assistance Fund.
- October 2022- Great Canadian Entertainment announced that guests can now make in-person sports bets at ten Ontario destinations. Four of its destinations, including Great Blue Heron Casino & Hotel, Elements Casino Brantford, Shorelines Casino Belleville, and Pickering Casino Resort, launched reliable sportsbook lounges called Great Canadian Sportsbooks, where sports lovers can enjoy their favorite game-day food and beverage options, watch live games and place bets at one of the available kiosks. The lounges will have team members available at peak times who can reply to any new service inquiries and take wagers from customers.
Sports Betting Kiosk Industry Overview
Competitive rivalry in the Sports Betting Kiosks market is moderate, with several key players, including NOVOMATIC Sports Betting Solutions, KIOSK Information System, JCM Global, Captec Ltd, and others. These companies possess a competitive advantage through their continuous innovation in product development, anticipating consumer needs, and making substantial investments in research and development, mergers and acquisitions, and strategic partnerships.
In August 2023, MGM Resorts International made a significant announcement by launching its BetMGM iGaming and online sports betting brand in the United Kingdom. This move marks the initiation of MGM Resorts' strategy to expand the BetMGM brand into international markets. The global BetMGM offering utilizes the technology and platform of LeoVegas, a Swedish-based gaming company acquired by MGM Resorts the previous year. BetMGM UK introduces enticing product features, including frequent large-scale jackpots, loyalty rewards, compelling sports promotions, and exclusive slot games.
In August 2023, ESPN introduced its new gambling platform, ESPN BET, allowing fans in the United States to engage in sports betting. This sportsbook is part of a $2 billion agreement between Disney-owned ESPN and the sports betting giant Penn Entertainment. ESPN BET is set to launch in the 16 states where betting is legal and Penn Entertainment holds licenses in the upcoming fall.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Market Drivers
4.4.1 sports betting with minimal space and Increase in customer transactions
4.4.2 Growing demand for automated selfoservice kiosks solution
4.5 Market Restraints
4.5.1 Cyber Security concerns may hinder the growth of the sports betting kiosk market
5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Indoor kiosks
5.1.2 outdoor kiosks
5.1.3 eSports
5.2 By End-User
5.2.1 Hotels
5.2.2 Restaurants
5.2.3 Retail Shopping
5.2.4 Casinos
5.2.5 Sports Clubs/Sports Stadiums
5.2.6 Cruise Ships
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 NOVOMATIC Sports Betting Solutions
6.1.2 KIOSK Information Systems
6.1.3 DB Solutions
6.1.4 Olea Kiosks, Inc.
6.1.5 Kambi Group PLC
6.1.6 JCM Global
6.1.7 International Game Technology PLC
6.1.8 SBTech Malta Limited
6.1.9 Captec Ltd.
6.1.10 Scientific Games Corporation
7 INVESTMENT ANALYSIS
8 FUTURE OF THE MARKET
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