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Global Sports Betting Market
Market Size in USD Billion
CAGR :
%
USD
175.51 Billion
USD
354.89 Billion
2024
2032
Forecast Period
2025 –2032
Market Size(Base Year)
USD
175.51 Billion
Market Size (Forecast Year)
USD
354.89 Billion
CAGR
%
Major Markets Players
BETSSON AB
FORTUNA ENTERTAINMENT GROUP
LAS VEGAS SANDS CORPORATION
Flutter Entertainment plc
888 Holdings Plc
Global Sports Betting Market Segmentation, By Type (Line-In-Play, Fixed Old Betting, Exchange Betting, Daily Fantasy, Spread Betting, E-Sports, and Pari Mutuel), Platform (Online and Offline), Sports (Racing and Non Racing Sports), Operator (Casinos, Bingo Halls, Card Rooms, Bookmakers, Coin-Operated Gambling Device, Concession Operators, Video Gaming Terminals, Lotteries Operator, Off-Track Sports Betting, and Others), Age Group (GEN Z, GEN Y/MILLENIALS, GEN X, and Baby Boomers) - Industry Trends and Forecast to 2032
Sports Betting Market Size
The global sports betting market was valued at USD 175.51 billion in 2024 and is expected to reach USD 354.89 billion by 2032
During the forecast period of 2025 to 2032 the market is likely to grow at a CAGR of 9.2%, primarily driven by the increasing legalization of betting activities and the expansion of digital platforms
This growth is driven by factors such as the rising popularity of sports leagues, increased internet and smartphone penetration, and technological advancements in real-time data analytics and betting software
Sports Betting Market Analysis
Sports betting involves predicting sports results and placing a wager on the outcome. It is a popular form of gambling, spanning across multiple sports including football, basketball, baseball, and esports
The demand for sports betting has surged due to growing digital transformation, increased accessibility through mobile applications, and the legalization of sports betting in several countries
The North America region stands out as one of the dominant regions in the sports betting market, fueled by regulatory changes, increasing participation in fantasy sports, and the integration of secure digital payment platforms
For instance, in the U.S., the Supreme Court’s 2018 decision to overturn the federal ban on sports betting has led to a rapid expansion of the market across multiple states, with sportsbooks launching both online and in physical venues
Globally, online sports betting holds the majority of the market share and continues to rise, driven by real-time betting options, live-streaming integration, and user-friendly interfaces that enhance the overall betting experience
Report Scope and Sports Betting Market Segmentation
Attributes
Sports Betting Key Market Insights
Segments Covered
By Type: Line-In-Play, Fixed Old Betting, Exchange Betting, Daily Fantasy, Spread Betting, E-Sports, and Pari Mutuel
By Platform: Online and Offline
By Sports: Racing and Non Racing Sports
By Operator: Casinos, Bingo Halls, Card Rooms, Bookmakers, Coin-Operated Gambling Device, Concession Operators, Video Gaming Terminals, Lotteries Operator, Off-Track Sports Betting, and Others
By Age Group: GEN Z, GEN Y/MILLENIALS, GEN X, and Baby Boomers
Integration of Sports Betting With Media Enhances Viewer Experience
Value Added Data Infosets
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include import export analysis, production capacity overview, production consumption analysis, price trend analysis, climate change scenario, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.
Sports Betting Market Trends
“Increased Integration of AI and Data Analytics”
One prominent trend in the global sports betting market is the rising integration of artificial intelligence (AI) and data analytics to enhance user experience and optimize betting strategies
These advanced technologies allow sportsbooks to offer personalized betting recommendations, real-time odds adjustments, and fraud detection, improving both user engagement and platform integrity
For instance, AI-powered algorithms can analyze player performance data, team statistics, and historical trends to generate predictive models, which assist bettors in making more informed decisions
Data analytics also allows platforms to monitor user behavior and provide customized marketing and promotional offers, increasing retention and engagement
This trend is transforming the sports betting landscape, enabling smarter, faster, and more secure betting experiences, and driving demand for technologically advanced betting solutions in the market
Sports Betting Microscope Market Dynamics
Driver
“Legalization and Regulation of Sports Betting Across New Markets”
The global sports betting market is experiencing robust growth due to the increasing legalization and regulation of sports betting in various countries and U.S. states
Governments are recognizing the economic potential of regulated sports betting, including tax revenue generation, job creation, and increased consumer protection
Legal frameworks also foster trust and transparency, encouraging more users to shift from unregulated, illegal platforms to authorized betting services
This shift is especially significant in regions where sports have a massive following, such as North America, Europe, and parts of Asia-Pacific
For instance,
In May 2023, Brazil passed legislation to legalize online sports betting, attracting global operators like Bet365 and Entain to expand into the region
In January 2022, New York became one of the largest U.S. states to launch mobile sports betting, generating over USD 1.6 billion in handle within the first month
As more countries and jurisdictions embrace regulatory reforms, the market is set to expand rapidly, opening up new revenue streams and attracting major industry players
Opportunity
“Growth of Mobile Sports Betting Platforms”
The increasing adoption of smartphones and mobile apps has created a significant opportunity in the global sports betting market, making it more accessible and convenient for users to place bets on the go
Mobile sports betting platforms allow users to place bets in real-time, track live events, and manage their accounts directly from their devices, driving market expansion
For instance,
In August 2023, BetMGM launched a mobile sports betting app in new states across the U.S., enhancing its reach and accessibility for bettors
In January 2024, FanDuel introduced a mobile app update that incorporated live streaming of major sports events, giving users an immersive and interactive betting experience
The shift to mobile platforms is not only expanding the sports betting market but also attracting younger, tech-savvy bettors, further driving market growth
Restraint/Challenge
“Regulatory Uncertainty and Legal Restrictions in Key Markets”
The sports betting market faces significant challenges due to regulatory uncertainty and legal restrictions across various countries and regions
Differing national laws regarding online gambling, advertising restrictions, and inconsistent taxation policies create a fragmented regulatory landscape, hindering the seamless expansion of operators
In some jurisdictions, sports betting remains illegal or is tightly regulated, making it difficult for global companies to enter or scale their operations
For instance,
In October 2023, the Indian government announced stricter scrutiny and proposed a ban on offshore betting platforms operating without proper licenses, impacting the activities of several international operators in the region
In May 2023, Germany introduced revised gambling regulations that imposed additional taxes and compliance burdens on online betting platforms, leading to reduced margins for operators and exit of smaller firms
Such legal and regulatory challenges can limit market penetration, restrict advertising, and deter investor confidence, ultimately slowing down the overall growth of the global sports betting market
Sports Betting Market Scope
The market is segmented on the basis of type, platform, operator, sports, and age group.
Segmentation
Sub-Segmentation
By Type
Line-In-Play
Fixed Old Betting
Exchange Betting
Daily Fantasy
Spread Betting
E-Sports
Pari Mutuel
Others
By Platform
Online
Offline
By Sports
Racing
Non Racing Sports
By Operator
Food Grade
Casinos
Bingo Halls
Card Rooms
Bookmakers
Coin-Operated Gambling Device
Concession Operators
Video Gaming Terminals
Lotteries Operator
Off-Track Sports Betting
Others
By Age Group
Gen Z
Gen Y/Millennials
Gen X
Baby Boomers
Sports Betting Market Regional Analysis
“North America is the Dominant Region in the Sports Betting Market”
North America dominates the global sports betting market, driven by a large, sports-centric population, well-established online betting platforms, and progressive regulations in key markets like the U.S
The U.S. holds a significant share due to the growing legalization of sports betting in multiple states, increasing consumer interest, and the presence of major sports leagues such as the NFL, NBA, and MLB
The availability of well-established online platforms, digital payment systems, and partnerships with major sports organizations further strengthen the market
In addition, the increasing adoption of mobile sports betting apps, technological advancements in live betting and streaming, and a high rate of consumer engagement are fueling market expansion across the region
“Asia-Pacific is Projected to Register the Highest Growth Rate”
The Asia-Pacific region is expected to witness the highest growth rate in the global sports betting market, driven by the increasing legalization of sports betting, rapid digitalization, and growing sports fanbase across the region
Countries such as China, India, and Australia are emerging as key markets, with India, in particular, showing significant growth due to the rising popularity of cricket betting and the potential for further regulatory changes to legalize and expand sports betting
Australia, with its well-established betting markets, continues to lead in both land-based and online sports betting activities, benefiting from its strong sports culture and advanced technological infrastructure
China and India, with their large populations and growing middle class, are seeing increased government and private sector investments in both land-based and online sports betting platforms. This, combined with improving digital payment systems and internet access, is propelling market growth across the region
Sports Betting Market Share
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
The Major Market Leaders Operating in the Market Are:
Peermont Global Proprietary Limited (South Africa)
SJM Holdings Limited (Macau)
Sportradar AG (Switzerland)
FanUp Inc. (U.S.)
Rivalry Ltd. (Canada)
EveryMatrix (Malta)
Kairos Group (U.K.)
BETAMERICA (U.S.)
Scientific Game (U.S.)
ComeOn Group (Malta)
Latest Developments in Global Sports Betting Market
In December 2023, Betsson, a leading name in the sports betting industry, announced a strategic partnership with Racing Club de Avellaneda for the 2023/2024 season. Starting May 19, Betsson's logo would feature prominently on the upper back of the men's and women's First Division football teams' shirts during local and international matches. This collaboration aims to boost Betsson's brand visibility and engagement within the sports sector, capitalizing on football's immense global popularity to attract new customers and expand its market presence
In September 2023, Betsson obtained a license to offer online sports betting in France's regulated market through a partnership with a local entity. The official launch took place in the fourth quarter of 2023 under the Betsson brand, marking a significant expansion into the French online betting sector. This strategic move highlights Betsson's commitment to geographic diversification and its ambition to deliver exceptional gaming experiences tailored to local markets. By combining global expertise with local insights, Betsson aims to strengthen its presence in one of Europe's largest gaming markets
In September 2022, Bet365 introduced its e-sports betting service in Colorado, operating under Century Casinos' state master license. This strategic launch capitalized on the rising popularity of electronic sports betting in the region. By leveraging its partnership with Century Casinos, Bet365 effectively accessed the Colorado market, offering a seamless and engaging betting experience. The collaboration underscored Bet365's commitment to expanding its footprint in the U.S. and meeting the growing demand for innovative betting solutions
In September 2022, Entain Plc, alongside Bally's Corporation, BetMGM, DraftKings, FanDuel, and MGM Resorts International, launched a joint initiative to promote responsible gaming. This collaboration introduced a 12-point pledge, emphasizing the importance of responsible gambling practices across their platforms. The initiative aims to enhance their global brand image by fostering a culture of accountability and consumer protection. By prioritizing responsible gaming, the companies seek to address problem gambling, ensure informed choices for users, and advocate for socially responsible advertising
In May 2022, William Hill expanded its flagship brand into Latvia, unveiling strategies to drive substantial revenue growth in the region. The company aimed to leverage existing media partnerships to create customized content aligned with its Brotherhood brand strategy. This approach focused on enhancing market presence and fostering deeper engagement within Latvia's betting and online casino industry. By combining innovative branding with strategic collaborations, William Hill sought to solidify its position as a leading player in the Latvian market
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