Sports Betting Market
Report ID: SQMIG25J2112
Report ID: SQMIG25J2112
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Report ID:
SQMIG25J2112 |
Region:
Global |
Published Date: June, 2025
Pages:
196
|Tables:
93
|Figures:
70
Global Sports Betting Market size was valued at USD 100.9 Billion in 2024 and is poised to grow from USD 112 Billion in 2025 to USD 258.11 Billion by 2033, growing at a CAGR of 11% during the forecast period (2026–2033).
The primary driver for global sports betting market growth is the increased accessibility of mobile phones and the internet. This access makes it easier for users to place bets using online platforms. The legalization and regulation of sports betting in several countries has boosted consumer confidence and drawn in new competitors. Additionally, the adoption of secure digital payment methods has improved accessibility, especially in developing countries. The growing popularity of live sports and international competitions, which attract users from a variety of demographic groups and geographic locations, is another factor driving demand.
In addition, a significant sports betting industry trend is the growing integration of media and entertainment platforms with sports betting. Due to collaborations between sports books and major sports leagues, teams, or broadcasters, there are now more integrated betting features in sports content. This convergence makes it harder to distinguish between betting and watching, particularly when it comes to second-screen activities on mobile apps. Additionally, esports betting is on the rise, especially among young adults, due to the popularity of competitive gaming and streaming platforms. These cross-industry collaborations are creating new opportunities for user acquisition, engagement, and income generation for both traditional and digital sports audiences.
Can Artificial Intelligence Improve Betting Accuracy and User Engagement?
Artificial intelligence (AI) is altering the sports betting market outlook by enhancing predictive analytics, personalizing user experiences, and allowing for real-time betting. In August 2024, DraftKings acquired Simplebet, a company that specialized in microbetting technology powered by AI. This acquisition will increase consumer engagement with DraftKings betting options and betting activity by increasing real-time betting options, including predicting the result of the next play in a game.
Additionally, by examining live player statistics and odds fluctuations, AI-powered services like betGPT give bettors access to real-time information. These resources aid in locating value wagers and efficiently managing bankrolls, resulting in better-informed wagering choices.
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The global sports betting market is segmented into platform, betting type, sports type, and region. By platform, the market is bifurcated online and offline. Depending on betting type, it is divided into fixed odds wagering, exchange betting, live/in-play betting, and esports betting. According to sports type, the market is classified into football, basketball, baseball, horse racing, cricket, and hockey. Regionally, it is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
As per the 2024 global sports betting market analysis, a significant amount of the money made by the market will come from the offline sector, particularly in regions with advanced gambling infrastructure like Europe and Australia. Standard racetracks, casinos, and betting shops will always serve a strong customer draw, and there may be customers that would only wager in person, for cash, and just to have the social interaction of being in a physical location. The restrictions that some of the regulatory structures have implemented in various countries will likely mean that continued participation in and growth of offline wagering platforms is a fundamental segment of the ecosystem. Continuing relevance to offline betting platforms also relates to customer loyalty and the significance of known physical and cultural locations against the omnipresent digital platforms in the worldwide sports betting ecosystem.
With a CAGR of nearly 12.9%, the online segment is predicted to grow at the fastest rate between 2025 and 2032. The primary factors driving this anticipated growth are rising smartphone usage, wider internet access, and a growing user preference for immediacy and convenience. Online sportsbooks appeal to a younger, mobile-first audience because they offer real-time betting, flexible access, and entertaining features like in-play wagering and live streaming. Legalization efforts in markets such as the United States, Canada, and several Latin American countries have led to an increase in the popularity of digital betting platforms.
Based on the 2024 global sports betting market forecast, the live/in-play betting category emerged as the market leader due to its real-time and interactive nature. This kind of betting increases player engagement by allowing players to place bets during play by responding to the dynamics of the match as they unfold. Due to frequent in-game events, it is particularly popular in sports like football and tennis, where there are always betting opportunities.
The eSports betting category is expected to have the highest sports betting market share during the forecast period. The primary drivers of this increase are the emergence of online streaming services like Twitch and YouTube Gaming, and the rising demand for competitive gaming. Younger, tech-savvy consumers who are used to online gambling interfaces are driving this trend. Like traditional sports, video games such as League of Legends, Dota 2, and Counterstrike: Global Offensive have developed sizable fan bases and tournaments. As eSports becomes more professionalized with more organized leagues and sponsorships, the sports betting sector expands.
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As per the 2024 sports betting market regional forecast, the European sports betting market will have the biggest revenue share, at about 48%. Due to the support of long-standing laws in some nations and the growth in online participation, the European market is always changing. The industry is dominated by online platforms, and live betting and mobile applications are growing in popularity. Basketball and tennis are the next bet-on sports, after football. Changes to regulations, such as those pertaining to restrictions on advertising and initiatives for responsible gaming, are having an impact on operator strategy throughout the region.
UK Sports Betting Market
Supported by a strong regulatory framework, the UK continues to be a significant center for regulated sports betting. Bet365 and DAZN joined forces in 2024 to incorporate in-play betting straight into sports streaming platforms. Operators are creating safer gaming technologies as a result of the UK Gambling Commission's ongoing enforcement of responsible gambling laws. With high levels of in-store and mobile betting activity, football and horse racing continue to be the main draws.
France Sports Betting Market
FDJ's digital revolution has led to a boom in the French sports betting market demand. To improve its online betting experience, the company debuted a new odds platform driven by AI in March 2024. Fair play and consumer protection are guaranteed by ANJ's regulatory oversight. The bet-on sports are football and tennis, and the 2024 Summer Olympics in Paris increased participation and income in a variety of sports.
Germany Sports Betting Market
Since the 2021 Interstate Treaty on Gambling, the German sports betting market has grown. In 2024, Tipico introduced a new live-betting app for Bundesliga games and increased the size of its retail location. Despite persistent licensing issues, market stability is ensured by consistent regulatory developments. Along with the growing acceptance of digital technology, the popularity of football and society's inclination for in-play betting continue to drive development.
In 2024, North America experienced rapid growth in the sports betting market demand, primarily due to the U.S. market. Second-screen betting options were improved through partnerships between bookmakers and major leagues, such as the NFL and NBA. After Ontario legalized single-game betting, engagement increased in Canada as well. Consumer experiences are being shaped by cross-platform integration, mobile convenience, and personalized odds as AI-driven personalization and ethical gaming gain more attention.
U.S. Sports Betting Market
The sports betting market in the U.S. is growing at the fastest pace during the forecast period. With Penn Entertainment, ESPN Bet began offering live sports betting nationwide in 2024. Football, basketball, and baseball are the most popular sports to wager on, and the NCAA's March Madness witnessed record-breaking online wagers. Innovation in live and prop betting, as well as ongoing legalization in every state, are significant growth drivers.
Canada Sports Betting Market
The sports betting market has been changing ever since Canada legalized it. Websites like DraftKings and BetMGM predict growth in 2024, placing Ontario in the lead. Local bettors are primarily influenced by the NHL and CFL. Frameworks for responsible gaming are discussed, and localization tactics are essential for complying with various provincial laws. Alongside the growth of online and mobile platforms, physical sports books are becoming more and more popular in casinos.
Asia-Pacific's sports betting market is varied and evolving quickly. Betway introduced a bilingual website for customers in Southeast Asia in 2024. Esports betting is becoming more and more popular, especially in Japan and South Korea. Live betting services and mobile-first initiatives are driving user growth despite inconsistent regulations, particularly during major competitions like the Olympic qualifiers and FIFA World Cup.
South Korea Sports Betting Market
Esports betting gained popularity in South Korea in 2024 as a result of games like League of Legends and StarCraft. The government-run betting company Sports Toto took advantage of young, tech-savvy customers by developing a real-time betting app. Even though there are still strict regulations in place, new developments in virtual sports betting and improved user interfaces are drawing more online players.
Japan Sports Betting Market
The sports betting market in Japan is small but expanding. In 2024, the government started looking into other regulatory frameworks in addition to public-run events like horse racing and keirin cycling. AI-based race prediction features have been added to Tokyo-based platform JRA's mobile betting app. Even though private operators are still subject to restrictions, growing consumer demand is igniting interest in permitting more widespread sports betting.
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Global Legalization and Regulation Growth
Increasing Internet and Smartphone Use
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Issues with Gambling Addiction and Its Effect on Society
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Companies such as Entain, DraftKings, and Flutter Entertainment will continue to lead the global sports betting market. To gain a larger market share in the sports betting industry, companies are pursuing mergers, acquisitions, and technological advances. Along with strategic partnerships with media organizations and leagues, investing in mobile platforms and responsible gaming will maximize user experience, compliance, and competitive advantage.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, as sports betting is becoming more legal, smartphones are becoming more widely used, and online platforms are becoming more and more popular, the industry will grow rapidly. Though regulatory barriers and social stigma related to gambling addiction still exist. Industry leaders are investing heavily in technology- primarily data analytics and artificial intelligence (AI), to enhance responsible gaming and the customer experience. The growth of esports betting is creating new opportunities. Overall, long-term growth in the betting industry will be driven by diversification, regulatory flexibility, and strategic innovation.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 100.9 Billion |
| Market size value in 2033 | USD 258.11 Billion |
| Growth Rate | 11% |
| Base year | 2024 |
| Forecast period | 2026–2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Sports Betting Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Sports Betting Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Sports Betting Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Sports Betting Market for additional countries.
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Global Sports Betting Market size was valued at USD 100.9 Billion in 2024 and is poised to grow from USD 112 Billion in 2025 to USD 258.11 Billion by 2033, growing at a CAGR of 11% during the forecast period (2026–2033).
Flutter Entertainment, DraftKings Inc., Betsson AB, Bally's Corporation, William Hill (Caesars Entertainment), MGM Resorts International, PointsBet Holdings, Kambi Group, The Stars Group (now part of Flutter), Betway (Super Group), 888 Holdings, FanDuel (DraftKings), Kindred Group, Playtech
The key driver of the sports betting market is the increasing legalization and regulation of sports gambling in various regions, which expands market access, attracts more participants, and boosts revenue through online platforms and mobile applications.
A key market trend in the sports betting market is the rapid growth of online and mobile betting platforms, supported by live betting features, digital payment integration, and enhanced user experiences that attract a broader and younger audience.
Europe accounted for the largest share in the sports betting market, driven by well-established gambling regulations, high sports engagement, widespread adoption of online betting platforms, and a strong culture of sports wagering across countries like the UK, Italy, and Spain.
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