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Introduction Sports betting has always been a popular activity among sports enthusiasts. However, CNBC News Today over the years, it has evolved into a multi-billion-dollar industry that has attracted a lot of attention from investors, analysts, and regulators. In recent times, the sports betting industry has undergone significant changes due to the widespread legalization of online sports betting in many countries. This study aims to provide a detailed analysis of the latest trends and future prospects of sports betting.

Current State of Sports Betting The sports betting industry is currently experiencing a significant boom, thanks to the widespread legalization of online sports betting. According to a report by Grand View Research, the global sports betting market size was valued at USD 85.047 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 10.8% from 2021 to 2028. This growth is primarily driven by the increasing popularity of sports betting, the rise of online sports betting platforms, and the legalization of sports betting in many countries.

The Future of Sports Betting The future of sports betting looks very promising, with the industry expected to grow at a steady pace in the coming years. The increasing popularity of sports betting among millennials and the widespread legalization of online sports betting are expected to fuel this growth. Additionally, the rise of new technologies such as blockchain and artificial intelligence (AI) is expected to transform the sports betting industry by providing more secure and accurate betting options.

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