Global Sports Betting Market

Sports Betting Market Size, Share, Growth Analysis, By Platform(online and offline), By betting type(Fixed Odds Wagering, Exchange Betting, Live/In Play Betting, Pari-mutuel), By Region - Industry Forecast 2024-2031


Report ID: SQMIG25N2002 | Region: Global | Published Date: April, 2024
Pages: 223 | Tables: 64 | Figures: 75

Sports Betting Market News

  • The UK and Ireland divisions of Flutter Entertainment Plc said in December 2023 that they would dedicate up to USD 10.1 million to philanthropic efforts in 2023. Additionally, the company revealed new agreements for its three main brands, Paddy Power, Sky Betting & Gaming (SBG), and Betfair. Through fundraising activities, an additional USD 318,175 has been raised for its two Charities of the Year. 
  • Entain completes the acquisition of Angstrom Sports in October 2023. The gambling giant Entain has successfully acquired sports modeling, forecasting, and analytics specialist Angstrom Sports for up to £203.0 million. 
  • The Disney-owned ESPN will rename Penn Entertainment's betting app in August 2023, giving it the only right to use the ESPN name. Penn will manage the ESPN Bet app, and the sports broadcaster has promised to promote it on both its online and television platforms. Penn's rights are currently valid for ten years, with an additional ten years possible. In addition to the $1.5 billion licensing fee, Penn will give ESPN the option to purchase stock in the business for about $500 million. 
  • With a day-one launch in Massachusetts in March 2023, OpenBet, a global provider of entertainment related to sports betting, increased its footprint in the US.
$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Sports Betting Market size was valued at USD 66.21 billion in 2021 and is poised to grow from USD 83.65 billion in 2022 to USD 182.12 billion by 2030, growing at a CAGR of 10.3% in the forecast period (2023-2030).

Due to the significant presence of regional and international competitors, the market under study is characterised by fierce rivalry and is highly fragmented. Major companies like Bet365, GVC Holdings PLC, The Stars Group, 888 Holdings PLC, and William Hill PLC dominate the market. The competition between major firms is based on a number of variables, including offers, user experience, brand equity, customised rewards, and access to other platforms. 'William Hill plc (UK)', 'GVC Holdings plc (UK)', 'Paddy Power Betfair plc (Ireland)', 'Bet365 Group Ltd (UK)', 'Kindred Group plc (Malta)', '888 Holdings plc (Gibraltar)', 'Stars Group Inc. (Canada)', 'Betsson AB (Sweden)', 'Ladbrokes Coral Group plc (UK)', 'Flutter Entertainment plc (Ireland)', 'DraftKings Inc. (US)', 'FanDuel Group Inc. (US)', 'Betway Group (Malta)', 'Smarkets (UK)', 'Mansion Group (Gibraltar)', 'Interwetten (Austria)', 'Sky Betting & Gaming (UK)', 'Betfred (UK)', 'NordicBet (Malta)', '10Bet Ltd. (Malta)'

There are various places where people participate in internet gambling, particularly sports betting, which mostly draws young people. It is accessible in many nations where sports betting is allowed or prohibited and reaches even those people who do not follow sports. An online sports bettor is typically 38 years old, but a land-based sports bettor is often 45 years old. The population's growing interest in sports betting is anticipated to fuel the market's expansion.

The demand for the sports betting business is growing along with the number of sports leagues and events. As new professional sports leagues are developed around the world, customers can increase the amount they wager. The result is that the world's sports leagues and tournaments are supporting an exponential growth in the sports betting industry.

In 2021, Europe accounted for the lion's share—roughly 50%—of the world market for sports betting. Football, motor racing, rugby, and tennis are just a few of the popular sports in Europe that have sizable, devoted fan bases who actively partake in sports betting. Furthermore, the installation of strict betting laws and guidelines has considerably decreased fraud in the area, which has benefited the expansion of the European sports betting market. Sports betting also attracts a sizable customer base in North America and Asia-Pacific.

Sports Betting Market size was valued at USD 83.65 billion in 2022 and is poised to grow from USD 92.27 billion in 2023 to USD 202.14 billion by 2031, at a CAGR of 10.3% during the forecast period (2024-2031).

Due to the significant presence of regional and international competitors, the market under study is characterised by fierce rivalry and is highly fragmented. Major companies like Bet365, GVC Holdings PLC, The Stars Group, 888 Holdings PLC, and William Hill PLC dominate the market. The competition between major firms is based on a number of variables, including offers, user experience, brand equity, customised rewards, and access to other platforms. 'William Hill plc (UK)', 'GVC Holdings plc (UK)', 'Paddy Power Betfair plc (Ireland)', 'Bet365 Group Ltd (UK)', 'Kindred Group plc (Malta)', '888 Holdings plc (Gibraltar)', 'Stars Group Inc. (Canada)', 'Betsson AB (Sweden)', 'Ladbrokes Coral Group plc (UK)', 'Flutter Entertainment plc (Ireland)', 'DraftKings Inc. (US)', 'FanDuel Group Inc. (US)', 'Betway Group (Malta)', 'Smarkets (UK)', 'Mansion Group (Gibraltar)', 'Interwetten (Austria)', 'Sky Betting & Gaming (UK)', 'Betfred (UK)', 'NordicBet (Malta)', '10Bet Ltd. (Malta)'

There are various places where people participate in internet gambling, particularly sports betting, which mostly draws young people. It is accessible in many nations where sports betting is allowed or prohibited and reaches even those people who do not follow sports. An online sports bettor is typically 38 years old, but a land-based sports bettor is often 45 years old. The population's growing interest in sports betting is anticipated to fuel the market's expansion.

The demand for the sports betting business is growing along with the number of sports leagues and events. As new professional sports leagues are developed around the world, customers can increase the amount they wager. The result is that the world's sports leagues and tournaments are supporting an exponential growth in the sports betting industry.

In 2021, Europe accounted for the lion's share—roughly 50%—of the world market for sports betting. Football, motor racing, rugby, and tennis are just a few of the popular sports in Europe that have sizable, devoted fan bases who actively partake in sports betting. Furthermore, the installation of strict betting laws and guidelines has considerably decreased fraud in the area, which has benefited the expansion of the European sports betting market. Sports betting also attracts a sizable customer base in North America and Asia-Pacific.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Sports Betting Market

Product ID: SQMIG25N2002

$5,300
BUY NOW GET FREE SAMPLE