For instance, to legalize commercial gambling in Great Britain, the Gambling Commission introduced the Gambling Act 2005. Moreover, the same act was reviewed recently in December 2020, where the government directed platform providers to comply with the technological changes.  The report said: "The online segment accounted for the largest revenue share of over 50.0% in 2020 and is anticipated to maintain its lead over the forecast period. The online segment is expected to witness the fastest growth over the forecast period. In terms of platform, the market has been divided into online and offline sports betting.  The growth of the online betting segment can be attributed to the increase in the penetration of smartphones and connected devices across the world. For instance, according to H2 Gambling Capital, a betting and gaming consultancy, in 2018, 43% of online bets were placed through mobile devices and 57% were placed using desktops."   Active companies in the markets today include:  Esports Technologies (NASDAQ: EBET), DraftKings Inc. (NASDAQ: DKNG), Skillz Inc. (NYSE: SKLZ), Elys Game Technology, Corp. (NASDAQ: ELYS), Rush Street Interactive, Inc. (NYSE: RSI).

Grand View Research added: "The fixed odds wagering segment accounted for the largest revenue share of over 25.0% in 2020 and is expected to maintain its lead throughout the forecast period. This can be attributed to the familiarity of this betting type among people that bet on sports, such as baseball, football, hockey, horse racing, and basketball globally. Fixed-odds wagering can be further segmented into numerous sub-types, such as point spread, proposition bets, fractional odds, in-game betting, and parlays. The competitive landscape of the market is fragmented, featuring several global as well as regional players. The key participants are entering into strategic collaborations, partnerships, and mergers & acquisitions to expand their business footprint and survive the highly competitive environment. Moreover, service providers are spending considerably on research & development activities to incorporate new technologies in their offerings and develop advanced products to gain a competitive advantage over other market players."

Esports Technologies (NASDAQ: EBET) – BREAKING NEWS - Esports Technologies Completes Acquisition of Aspire Global's B2C Business with $1.86 Billion in Annual Wagers and $183 Million in Cash Deposits - Revenue Grew 43% in Most Recent 12-Month Period from 1.25 Million Customers -  Esports Technologies, a leading global provider of award-winning advanced esports wagering products and technologies, announced today the successful closing of its acquisition of Aspire Global's (STO: ASPIRE) B2C business for $75.9 million.

Under the terms of the deal, Esports Technologies has now closed on the acquisition of Aspire's portfolio of B2C proprietary online casino and sportsbook brands, including Karamba, Hopa, Griffon Casino, BetTarget, Dansk777, and GenerationVIP. Additionally, Esports Technologies secures gaming licensing in Tier 1 regulated markets including the United Kingdom, Germany, Ireland, Malta, and Denmark.

Strategically, Esports Technologies plans to leverage the increased market access from the multiple-brand acquisition to cross-sell esports wagering opportunities to increase its esports revenue, player bet transactions, and customer base.

In the most recent 12-month period ending September 2021, Aspire Global's B2C revenue was $78.3 million and its EBITDA was $7.9 million, a 43% and 30% gain over the same period in the prior year, respectively. During the same period, the B2C business recorded wagering of $1.86 billion and $183 million in cash deposits from 1.25 million customers.

Aspire Global will serve as the back-end provider for the acquired B2C brands, ensuring operational continuity, and will offer Esports Technologies wagering products on its platform.

Aaron Speach, CEO, Esports Technologies, said, "Acquiring Aspire Global's portfolio of innovative B2C brands, access to new markets, and its 1.25 million deposited customers is a strategic leap in our journey to become a world leader in esports wagering. We look forward to our partnership with Aspire as we continue to scale."

Tsachi Maimon, CEO of Aspire Global, said, "Esports Technologies has rapidly established itself as one of the foremost innovators in esports wagering. Acquiring the world-class B2C portfolio we've built will further expand their reach in this skyrocketing global market."