Online Sports Betting Market Size (2024 - 2029)

The Online Sports Betting Market is projected to experience significant growth over the forecast period, driven by the increasing accessibility and popularity of online platforms. The market's expansion is supported by the relaxation of regulatory frameworks in various regions, which offers new opportunities for operators. Despite challenges posed by restrictions in some countries, the overall trend indicates a robust increase in market size, fueled by advancements in technology and the widespread appeal of sports betting across popular sports such as football and cricket.

INSTANT ACCESS

Market Size of Online Sports Betting Industry

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:
Online Sports Betting Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 48.17 Billion
Market Size (2029) USD 83.58 Billion
CAGR (2024 - 2029) 11.65 %
Fastest Growing Market North America
Largest Market Europe

Major Players

Online Sports Betting Market Major Players

*Disclaimer: Major Players sorted in no particular order

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

Online Sports Betting Market Analysis

The Online Sports Betting Market size is estimated at USD 48.17 billion in 2024, and is expected to reach USD 83.58 billion by 2029, growing at a CAGR of 11.65% during the forecast period (2024-2029).

Sports betting involves gambling by predicting the outcome of a game and placing a wager. It is popular in various sports, including cricket, football, and horse racing. The proliferation of the internet is expected to drive advancements in the sports betting industry. European football generates the most revenue in online betting sports, with baseball trailing closely behind. The increasing popularity of online sports has revolutionized the methods of sports betting. However, numerous countries prohibit sports betting, which significantly hinders the expansion of the sports betting market. However, relaxation in the regulation framework of betting and gambling activities by governments worldwide is anticipated to provide favorable opportunities for betting operators. For instance, in 2023, as per the American Gaming Association in the United States, sports betting was legally permitted in 36 states, an increase from 32 in 2021. Within the first ten months of 2022, sports bettors in the United States legally wagered approximately USD 73 billion.

Online Sports Betting Industry Segmentation

Sports betting is predicting sports results and placing a wager on the outcome. The frequency of sports bets varies by culture, with the vast majority placed on football, basketball, horse racing, cricket, and others. The online sports betting market is segmented by sports type, end user, and geography. Based on sports type, the market is segmented into football, basketball, horse racing, baseball, tennis, and other sports types. Based on end users, the market is segmented into desktop and mobile. Moreover, an analysis has been done based on emerging and established regions, including North America, Europe, Asia-Pacific, and the Rest of the World. The market sizing and forecasts have been done for each segment based on value (USD).

Sport Type
Football
Basketball
Horse Racing
Baseball
Tennis
Other Sport Types
End User
Desktop
Mobile
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Sweden
Rest of Europe
Asia-Pacific
Oceanic Countries
Rest of Asia-Pacific
Rest Of The World
South America
Middle East & Africa
Need A Different Region Or Segment?
Customize Now

Online Sports Betting Market Size Summary

The online sports betting market is poised for significant growth, driven by the increasing popularity of sports betting across various platforms and the proliferation of internet access. This market involves predicting game outcomes and placing wagers, with football and cricket being particularly popular. The European football scene, in particular, generates substantial revenue, with countries like Italy, France, and Spain leading in betting volume. The convenience of online and mobile betting applications, coupled with the rise of online payment gateways, has made sports betting more accessible and secure for users. Despite regulatory challenges in some regions, the relaxation of betting and gambling regulations by governments worldwide is expected to create favorable conditions for market expansion.

The market is characterized by a fragmented landscape with both regional and global players such as Bet365, 888 Holdings PLC, Flutter Entertainment PLC, Entain PLC, and The Stars Group dominating the scene. These companies compete on various fronts, including user experience, brand equity, and access to multiple platforms, and they often engage in expansions, innovations, and strategic partnerships to enhance their market position. The European market, in particular, has seen significant growth, with companies like Betsson expanding their presence through collaborations and local partnerships. The market's growth is further supported by high demand from European consumers and the increasing adoption of mobile and online betting platforms, which offer users the convenience of betting from anywhere.

Explore More

Online Sports Betting Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Increasing Popularity of Online Gambling

      2. 1.1.2 Advancement In Security, Encryption, and Streaming Technology

    2. 1.2 Market Restraints

      1. 1.2.1 Regulatory Uncertainty And Compliance

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitutes

      5. 1.3.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Sport Type

      1. 2.1.1 Football

      2. 2.1.2 Basketball

      3. 2.1.3 Horse Racing

      4. 2.1.4 Baseball

      5. 2.1.5 Tennis

      6. 2.1.6 Other Sport Types

    2. 2.2 End User

      1. 2.2.1 Desktop

      2. 2.2.2 Mobile

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

        4. 2.3.1.4 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 Spain

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 Germany

        4. 2.3.2.4 France

        5. 2.3.2.5 Italy

        6. 2.3.2.6 Sweden

        7. 2.3.2.7 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 Oceanic Countries

        2. 2.3.3.2 Rest of Asia-Pacific

      4. 2.3.4 Rest Of The World

        1. 2.3.4.1 South America

        2. 2.3.4.2 Middle East & Africa

Online Sports Betting Market Size FAQs

The Online Sports Betting Market size is expected to reach USD 48.17 billion in 2024 and grow at a CAGR of 11.65% to reach USD 83.58 billion by 2029.

In 2024, the Online Sports Betting Market size is expected to reach USD 48.17 billion.

Online Sports Betting Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)