Sports Betting Market - Forecasts from 2025 to 2030
Description
The sports betting market is expected to grow from USD 155.423 billion in 2025 to USD 256.515 billion in 2030, at a CAGR of 10.54%.
The global sports betting market is experiencing robust growth, driven by a shifting legal landscape, widespread adoption of connected devices, and advancements in digital infrastructure. The proliferation of smartphones and improved internet access have made sports betting more accessible, fueling the popularity of online platforms. The rise of eSports and other betting formats has further expanded the market, particularly during periods of heightened digital engagement. Governments worldwide are increasingly relaxing restrictions on betting and gaming, creating lucrative opportunities for operators and consumers. For instance, as of January 2023, 36 U.S. states have legalized sports betting, reflecting a significant shift in regulatory frameworks. The market is supported by growing consumer interest in sports like football, driven by global events and prominent athletes, but faces challenges such as regulatory compliance and responsible gaming concerns.
Market Drivers
Expansion of Online Sports Betting Platforms
The global increase in smartphone penetration and enhanced internet infrastructure are key drivers of online sports betting growth. Digital transformation has reshaped consumer lifestyles, boosting the adoption of mobile betting platforms. A significant portion of betting revenue comes from mobile devices, highlighting their role in market expansion. Operators are capitalizing on favorable regulatory environments to expand their reach, offering services through apps and online platforms that cater to diverse betting preferences, including sports, casino, and eSports wagering.
Football Segment Growth
Football’s global popularity, driven by high-profile players and major tournaments like the FIFA World Cup, UEFA Champions League, and Copa America, significantly contributes to the sports betting market. The sport’s massive following encourages frequent and substantial wagers, supported by the accessibility of online platforms. The integration of blockchain technology, such as licensed betting exchanges, has further enhanced the football betting segment, attracting tech-savvy bettors and increasing market engagement.
Geographical Outlook
United States
The United States is a dominant force in the global sports betting market, propelled by progressive legalization efforts. As of January 2023, 36 states have legalized sports betting, with 18 states operating regulated markets and 12 offering full-scale online wagering, including states like Virginia and Tennessee, which focus exclusively on online platforms. The relaxation of restrictions, such as the lifting of bans by the American Sports Association, has resulted in significant market activity, with legal betting reaching $73 billion in the first ten months of 2022. This regulatory shift, combined with consumer demand for convenient betting options, positions the U.S. as a key growth market, attracting operators to expand their presence nationwide.
Key Developments
In 2023, the sports betting market saw notable advancements. The relaxation of gambling restrictions across 36 U.S. states by January 2023 marked a significant milestone, fostering market growth and operator expansion. These regulatory changes have encouraged strategic partnerships and innovations, such as the integration of responsible gaming principles by major operators, enhancing brand credibility and consumer trust. The focus on mobile and online platforms continues to drive accessibility, with operators leveraging digital infrastructure to offer seamless betting experiences.
The sports betting market is poised for substantial growth, driven by widespread smartphone adoption, improved digital infrastructure, and progressive legalization, particularly in the U.S., where 36 states have embraced regulated betting as of January 2023. The popularity of football and the rise of online platforms, including mobile apps, are key growth catalysts, while innovations like blockchain-based exchanges enhance market appeal. Despite challenges like regulatory compliance, the market’s trajectory remains positive, with opportunities for operators to capitalize on evolving consumer preferences and expanding legal frameworks, especially in North America.
Key Benefits of this Report:
Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, and other sub-segments.
Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape future market developments.
Actionable Recommendations: Utilize the insights to exercise strategic decisions to uncover new business streams and revenues in a dynamic environment.
Caters to a Wide Audience: Beneficial and cost-effective for startups, research institutions, consultants, SMEs, and large enterprises.
What do businesses use our reports for?
Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive Intelligence
Report Coverage:
Historical data from 2022 to 2024 & forecast data from 2025 to 2030
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, and Trend Analysis
Competitive Positioning, Strategies, and Market Share Analysis
Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others.
Segmentation
:
By Platform
Online
Offline
By Sport
Cricket
Football
Horse Racing
Others
By Betting Type
Fixed Odds
Live/In-Play Betting
Parimutuel Betting
Spread Betting
By Geography
North America
United States
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
USA
Germany
France
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Others
Asia Pacific
Japan
China
India
South Korea
Indonesia
Thailand
Others
The global sports betting market is experiencing robust growth, driven by a shifting legal landscape, widespread adoption of connected devices, and advancements in digital infrastructure. The proliferation of smartphones and improved internet access have made sports betting more accessible, fueling the popularity of online platforms. The rise of eSports and other betting formats has further expanded the market, particularly during periods of heightened digital engagement. Governments worldwide are increasingly relaxing restrictions on betting and gaming, creating lucrative opportunities for operators and consumers. For instance, as of January 2023, 36 U.S. states have legalized sports betting, reflecting a significant shift in regulatory frameworks. The market is supported by growing consumer interest in sports like football, driven by global events and prominent athletes, but faces challenges such as regulatory compliance and responsible gaming concerns.
Market Drivers
Expansion of Online Sports Betting Platforms
The global increase in smartphone penetration and enhanced internet infrastructure are key drivers of online sports betting growth. Digital transformation has reshaped consumer lifestyles, boosting the adoption of mobile betting platforms. A significant portion of betting revenue comes from mobile devices, highlighting their role in market expansion. Operators are capitalizing on favorable regulatory environments to expand their reach, offering services through apps and online platforms that cater to diverse betting preferences, including sports, casino, and eSports wagering.
Football Segment Growth
Football’s global popularity, driven by high-profile players and major tournaments like the FIFA World Cup, UEFA Champions League, and Copa America, significantly contributes to the sports betting market. The sport’s massive following encourages frequent and substantial wagers, supported by the accessibility of online platforms. The integration of blockchain technology, such as licensed betting exchanges, has further enhanced the football betting segment, attracting tech-savvy bettors and increasing market engagement.
Geographical Outlook
United States
The United States is a dominant force in the global sports betting market, propelled by progressive legalization efforts. As of January 2023, 36 states have legalized sports betting, with 18 states operating regulated markets and 12 offering full-scale online wagering, including states like Virginia and Tennessee, which focus exclusively on online platforms. The relaxation of restrictions, such as the lifting of bans by the American Sports Association, has resulted in significant market activity, with legal betting reaching $73 billion in the first ten months of 2022. This regulatory shift, combined with consumer demand for convenient betting options, positions the U.S. as a key growth market, attracting operators to expand their presence nationwide.
Key Developments
In 2023, the sports betting market saw notable advancements. The relaxation of gambling restrictions across 36 U.S. states by January 2023 marked a significant milestone, fostering market growth and operator expansion. These regulatory changes have encouraged strategic partnerships and innovations, such as the integration of responsible gaming principles by major operators, enhancing brand credibility and consumer trust. The focus on mobile and online platforms continues to drive accessibility, with operators leveraging digital infrastructure to offer seamless betting experiences.
The sports betting market is poised for substantial growth, driven by widespread smartphone adoption, improved digital infrastructure, and progressive legalization, particularly in the U.S., where 36 states have embraced regulated betting as of January 2023. The popularity of football and the rise of online platforms, including mobile apps, are key growth catalysts, while innovations like blockchain-based exchanges enhance market appeal. Despite challenges like regulatory compliance, the market’s trajectory remains positive, with opportunities for operators to capitalize on evolving consumer preferences and expanding legal frameworks, especially in North America.
Key Benefits of this Report:
Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, and other sub-segments.
Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape future market developments.
Actionable Recommendations: Utilize the insights to exercise strategic decisions to uncover new business streams and revenues in a dynamic environment.
Caters to a Wide Audience: Beneficial and cost-effective for startups, research institutions, consultants, SMEs, and large enterprises.
What do businesses use our reports for?
Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive Intelligence
Report Coverage:
Historical data from 2022 to 2024 & forecast data from 2025 to 2030
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, and Trend Analysis
Competitive Positioning, Strategies, and Market Share Analysis
Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others.
Segmentation
:
By Platform
Online
Offline
By Sport
Cricket
Football
Horse Racing
Others
By Betting Type
Fixed Odds
Live/In-Play Betting
Parimutuel Betting
Spread Betting
By Geography
North America
United States
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
USA
Germany
France
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Others
Asia Pacific
Japan
China
India
South Korea
Indonesia
Thailand
Others
Table of Contents
151 Pages
- 1. EXECUTIVE SUMMARY
- 2. MARKET SNAPSHOT
- 2.1. Market Overview
- 2.2. Market Definition
- 2.3. Scope of the Study
- 2.4. Market Segmentation
- 3. BUSINESS LANDSCAPE
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Porter’s Five Forces Analysis
- 3.5. Industry Value Chain Analysis
- 3.6. Policies and Regulations
- 3.7. Strategic Recommendations
- 4. TECHNOLOGICAL OUTLOOK
- 5. SPORTS BETTING MARKET BY PLATFORM
- 5.
- 1. INTRODUCTION
- 5.2. Online
- 5.3. Offline
- 6. SPORTS BETTING MARKET BY SPORT
- 6.
- 1. INTRODUCTION
- 6.2. Cricket
- 6.3. Football
- 6.4. Horse Racing
- 6.5. Others
- 7. SPORTS BETTING MARKET BY BETTING TYPE
- 7.
- 1. INTRODUCTION
- 7.2. Fixed Odds
- 7.3. Live/In-Play Betting
- 7.4. Parimutuel Betting
- 7.5. Spread Betting
- 8. SPORTS BETTING MARKET BY GEOGRAPHY
- 8.
- 1. INTRODUCTION
- 8.2. North America
- 8.2.1. USA
- 8.2.2. Canada
- 8.2.3. Mexico
- 8.3. South America
- 8.3.1. Brazil
- 8.3.2. Argentina
- 8.3.3. Others
- 8.4. Europe
- 8.4.1. Germany
- 8.4.2. France
- 8.4.3. United Kingdom
- 8.4.4. Spain
- 8.4.5. Others
- 8.5. Middle East and Africa
- 8.5.1. Saudi Arabia
- 8.5.2. UAE
- 8.5.3. Others
- 8.6. Asia Pacific
- 8.6.1. China
- 8.6.2. India
- 8.6.3. Japan
- 8.6.4. South Korea
- 8.6.5. Indonesia
- 8.6.6. Thailand
- 8.6.7. Others
- 9. COMPETITIVE ENVIRONMENT AND ANALYSIS
- 9.1. Major Players and Strategy Analysis
- 9.2. Market Share Analysis
- 9.3. Mergers, Acquisitions, Agreements, and Collaborations
- 9.4. Competitive Dashboard
- 10. COMPANY PROFILES
- 10.1. The 888 Group
- 10.2. Kindred Group plc
- 10.3. William Hill PLC
- 10.4. Churchill Downs Incorporated
- 10.5. Sportech PLC
- 10.6. Flutter Entertainment plc
- 10.7. Bet365
- 10.8. DraftKings
- 10.9. Pen Entertainment
- 10.10. BetMGM
- 11. APPENDIX
- 11.1. Currency
- 11.2. Assumptions
- 11.3. Base and Forecast Years Timeline
- 11.4. Key benefits for the stakeholders
- 11.5. Research Methodology
- 11.6. Abbreviations
- LIST OF FIGURES
- LIST OF TABLES
Pricing
Currency Rates
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