When compared to other countries, the North American sports industry has grown exponentially over the past decade. At present, it’s estimated to account for at least 30% of the global industry. That’s with the other players being South America, West Europe, the Middle East, and Asia-Pacific, among others.
The growth has been gradual, resulting from the advancement of different factors. These stem from the influence that key stakeholders have over how the market engages with audiences. That gets viewed from two perspectives:
- Participatory sports market
- Spectator sports market
The Participatory Market
This refers to the venues that enthusiasts use to engage in the various sporting activities available. It accounts for more than 55% of the industry and includes, but isn’t limited to:
- Skiing facilities
- Golf courses
- Marinas
- Fitness and recreational sports centers
- Country Clubs
- Bowling centers
- Community sports centers
Of these, fitness and recreational centers have the greatest influence. That’s because they make up at least 40% of the participatory market.
The Spectator Market
Meanwhile, this refers to the competing teams and clubs involved in the industry. It also includes event revenue, media rights, merchandising, racing and individual sporting events, and sponsorships. And although it makes up a smaller percentage of the overall market, it’s believed to grow faster in the coming years. That’s at an estimated rate of 5.9%.
Different sporting disciplines also affect how quickly the market grows. Some of the most notable in the US include:
- Association Football (Soccer) at a rate of 43%
- American Football at a rate of 13%
- Baseball at a rate of 12%
- Formula 1 at a rate of 7%
- Basketball at a rate of 6%
As for sponsorships, merchandising, and media rights, various brands, and companies contribute to the value of the event they associate with. Some of the names that have stood the test of time include:
- Nike
- ESPN
- Adidas
- Gatorade
- Sky Sports
As of 2019, Nike and Sky Sports were valued at $36,800 million and $4,400 million, respectively. Other notable brands within the industry include names like Puma, Dallas Cowboys, and Super Bowl at $4,000,000,000, $1,039,000,000, and $780,000,000, respectively.
Other Influencing Factors
There’s more to this growth than the disciplines and brands linked to them. The modernization of different processes also plays a role. Some emerging markets to look out for include:
- TV licensing to cover digital streaming options
- Inclusion of women in various competitive sports
- The popularity of fitness activities
- Legalization of online betting and gambling
- Use of new technology like Virtual Reality
- The growing interest in European Football from North American audiences
US Players and Offshore Online Bookies
Not every North American state accepts online sports betting. So, for fans residing in such regions, other options prove helpful in enabling them to get their bets in. One is traveling to areas that accept online sports bets. However, since that’s too time-consuming, the more popular alternative is choosing offshore sites.
Offshore betting sites are online sportsbooks managed by overseas operators. They are in plenty these days, and several accept North American bettors. Although offshore platforms aren’t licensed by US-based regulators, players can still enjoy safe betting online. That’s so long as they pick top offshore betting sites to join.
The markets available on these platforms are numerous, garnering an impressive following from betting fans in the country. These include bets on current events to future bets on the outcomes of leagues and tournaments. You can even find sites that give you boosted odds on popular events, allowing you to gain more earnings for the matches you prefer.
Bettors on these sites can also make wagers when there aren’t any live events, such as during lockdown periods due to the global pandemic. That’s thanks to options like eSports and virtual sports. The former is better suited for video game fans, while the latter works well for sports enthusiasts.
Although they’re imitations of live events, virtual betting options come with several perks for fans. The first is you get to make wagers on simulated matches featuring renowned leagues, teams, and players. The second is that every event happens within a fraction of the time actual matches take.
And the third is that you can make several wagers for several games within a day since a game only takes about 15 minutes to conclude.
