Sports Betting Kiosk Market – Popularity of Automated Kiosks to Act as a Harbinger to High Adoption
These are exciting times to be in the sports betting kiosk market, since more countries are legalizing sports betting, and as such, there is an increasing need to cater to a large consumer base across new markets. The impactful trend that has disrupted the sports betting kiosk industry is the spurt in the adoption of automated and self-service kiosk solutions at stadiums and sports clubs. With the drumbeat of digitization, market players are stepping up to incorporate digital signage in businesses, and, in turn, save on employing sales representatives. All in all, market players can look at an above-average CAGR of ~7% during the period of 2019-2027.
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White-labeled Sports Betting Kiosks Remain Highly Preferred
The sports betting kiosk market in Europe, with lenient betting laws, is projected to lead with a market share of ~38% in 2019, as consumers evince high interest in gambling activities, and continuous innovations being brought in by market players concentrated in the region. Another interesting finding of the report shows that, service providers prefer white-labeled kiosks over branded ones, as they look at lowering the per-unit cost of these kiosks. The sales of white-labeled sports betting kiosks are likely to advance at a CAGR of ~8%, while that of branded kiosks will register a CAGR of ~7% during 2019-2027.
High sales of sports betting kiosks are attributable to their increasing adoption at sports clubs, sports stadiums, betting shops, and gambling clubs, growing at a CAGR of ~8% over the course of the forecast period, followed by casinos. However, the popularity of gambling as a leisure activity is likely to turn restaurants, resorts, and hotels into lucrative end users.
As market players look at ways to gain marginal growth, some are poised to reap benefits from centralized record systems to save manual efforts and cut down their workforces. However, market players could possibly encounter a challenge while penetrating sports betting kiosks into end-user segments, given the high cost of installation. The cost-prohibitive nature of these kiosks further carries forward, as the maintenance requirements of these kiosks are high, on account of the frequent replacement of touchscreens.
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Technological Partnerships – Felicitous Market Feature to Gain an Upper Hand
The sports betting kiosk market remains highly consolidated, with leading players expanding territories of the entire industry. Leading players gain with the first-mover’s advantage through the development of customized and value-added sports betting kiosks. With their high exposure in numerous geographies, leading players can offer maintenance services to address issues arising in their unique solutions. For instance, in 2017, Kambi Group PLC announced the launch of a new online sports betting solution in Pennsylvania. This solution offers 24/7 sports betting services to wagers.
On top of that, as the integration of digital technology is integral to infiltrating in the consumer space, market players are staying abreast with technology to offer self service kiosks with features such as ticketing, centralized record systems, bet ticket scanning, and ease of self-betting, which gives traction to technological partnerships. For instance, in 2019, KIOSK Information Systems announced a technological partnership with Bitcoin ATM pioneer Bitshop, to offer next-gen Bitcoin ATM systems.