The rapid growth of sport as a business

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The growth of sport in general has continued to rise year on year. You only have to look at the last calendar year, which saw the global sports apparel market generate around 181 billion U.S dollars in revenue. This meant an increase of more than seven billion on 2018 and this is only set to continue to rise moving forward.

It is a similar story over the entire global sports market that reached a value of around $488.5 billion in 2018. This has seen an average of 4.3% growth, year on year since 2014 and is expected to have reached $614.1 billion by 2022.

Sports stars are being paid more than ever with sponsorships and clubs are making vast amounts due to the increasing rise of TV deals being put in place. It has all led to remarkable growth across all areas of the industry.

With more focus on sport and it being easily accessible, this has also led to a growth in the gambling industry. More markets are now available for punters to bet on virtually any sport they wish and these are the 10 best betting sites of the moment. This includes Bet365 topping the list, who have established themselves into the leading operator on the market across many different countries.

Many gambling operators have also looked to sponsor sports sides to further establish themselves into the public eye. Sports sponsorships as well as economic growth have all played a major role in the rapid growth of sport as a business for so many.

Another key factor to the growth has been an increase in the number of internet accessible devices and the emergence of the different sports channels that are available, such as Sky and BT. Increasing regulations on sport could yet hinder this continued growth in the future but only time will tell. These media rights also hold the largest segment of the sports market and in 2018 this was at 23.7%.

As expected it is North America that holds the largest market for the overall sports industry and this accounts for around 30% of the overall global market. This is then followed by Western Europe and the likes of France, Germany and Spain. Predictions show that Asia-Pacific and the Middle East are expected to be the fastest growing regions in the sports market. The latter of course are continuing the get involved in big sporting events as they push their tourism. This includes the huge heavyweight rematch between Anthony Joshua and Ruiz.

These all give a clear indication of the continued growth of the overall global sports market and how more and more businesses and becoming involved.