The Online Sports Betting Market Report Segments the Industry Into Sport Type (Football, Basketball, Horse Racing, Baseball, Tennis, Other Sport Types), End User (Desktop, Mobile), Betting Type (Pre-Match/Fixed-Odds and Live/In-Play), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). Market Sizing is Presented in USD Value Terms for all the Abovementioned Segments.

The global sports betting market size reached USD 103.08 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 224.12 Billion by 2033, exhibiting a growth rate (CAGR) of 8.56% during 2025-2033. The market is propelled by the rising popularity of e-sports and competitive gaming, increasing adoption of advanced technologies such as virtual reality (VR) and AR, increasing demand for personalized and ergonomic gaming peripherals, rising penetration of internet and smartphones, and cultural enthusiasm among individuals.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on platform, betting type, and sports type.

Snapshot img

Sports Betting Market Size 2025-2029

The sports betting market size is valued to increase by USD 221.1 billion, at a CAGR of 12.6% from 2024 to 2029. Digital revolution will drive the sports betting market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 33% growth during the forecast period.
By Platform - Online segment was valued at USD 101.20 billion in 2023
By Type - Basketball segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 162.64 billion
Market Future Opportunities: USD 221.10 billion
CAGR from 2024 to 2029 : 12.6%

Market Summary

The market is a dynamic and complex industry, fueled by the intersection of technology and human passion for sports. With an estimated global value of USD155 billion in 2020, this market's growth is driven by the increasing popularity of online betting platforms and the integration of advanced technologies like machine learning. These innovations enable personalized user experiences, real-time data analysis, and more accurate odds calculation. However, the industry faces significant challenges, including stringent government regulations and restrictions. For instance, in some regions, sports betting remains illegal or heavily regulated, limiting market growth potential. Additionally, concerns over problem gambling and match-fixing continue to shape the regulatory landscape.
Despite these hurdles, the future of sports betting looks promising. Technological advancements, such as blockchain and virtual reality, are poised to revolutionize the industry further. As these developments unfold, businesses must adapt and innovate to stay competitive in this rapidly evolving market.

What will be the Size of the Sports Betting Market during the forecast period?

Get Key Insights on Market Forecast (PDF) Request Free Sample

How is the Sports Betting Market Segmented ?

The sports betting industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Platform

  Online
  Offline


Type

  Basketball
  Horse riding
  Football
  Others


Betting Type

  Fixed Odds Wagering
  Exchange Betting
  Live/In-Play Betting
  eSports Betting


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    Australia
    China
    India
    Japan


  Rest of World (ROW)

By Platform Insights

The online segment is estimated to witness significant growth during the forecast period.

The market is in a constant state of evolution, fueled by technological advancements and regulatory changes. The online betting segment, in particular, is thriving, driven by factors such as the expansion of the overall market, the increasing availability of mobile platforms due to Internet and smartphone penetration, and the structural migration of customers from retail to online betting in emerging markets. Technological innovations include advanced responsible gambling tools, payment gateway integration, customer support ticketing, win probability models, AML compliance software, data visualization tools, and bonus claim processes. Regulatory compliance checks, in-play betting data, sports data providers, geofencing technology, KYC compliance protocols, account management features, transaction processing speed, withdrawal processing times, real-time data feeds, betting exchange liquidity, deposit method integrations, user engagement metrics, customer identity verification, live streaming integration, mobile betting platforms, data analytics dashboards, risk management models, CRM system integration, betting platform security, fraud detection systems, user experience design, player segmentation strategies, and more.

Request Free Sample

The Online segment was valued at USD 101.20 billion in 2019 and showed a gradual increase during the forecast period.

Request Free Sample

Regional Analysis

APAC is estimated to contribute 33% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

See How Sports Betting Market Demand is Rising in APAC Request Free Sample

The Asia-Pacific (APAC) region is poised to lead The market due to its rapid expansion and significant population base. Comprising over 60% of the world's population, APAC is a burgeoning market with an increasing number of digital platforms and the adoption of online betting. Key factors contributing to this growth include the presence of gambling hubs like Macau and the rising disposable income of the population.

APAC's dominance in the global sports betting landscape is further reinforced

In 2024, the market size of the global sports betting industry stood at over ** billion U.S. dollars. Online sports betting accounted for more than ** percent of this sum, with an annual revenue of ** billion U.S. dollars. By 2029, the overall market size was forecast to grow to over ** billion U.S. dollars.

The global sports betting market surge from USD 107.6B in 2024 to reach extraordinary USD 231.2B by 2034, surging at a dynamic CAGR of 7.9% with mobile gaming innovations.

As per Cognitive Market Research's latest published report, the Global Sports Betting market size will be $587.57 Billion by 2030. Sports Betting Industry's Compound Annual Growth Rate will be 11.49% from 2023 to 2030. Factors Impacting on Sports Betting Market

Rapid adoption of Smartphones

The mobile-phone market has changed from a new purchase market to a replacement market when it is matured. At the same time, smartphones come into the spotlight as an alternative to feature phones in the mobile-phone market. Since the characteristics of ‘smartphones’ are greatly different from those of ‘feature phones’ in that more technologies are incorporated and more functionalities are provided to users by smartphones, factors that can affect the adoption of smartphones and feature phones might not be the same.

Some 87% of smartphone owners access the internet or email on their handheld, including two-thirds (68%) who do so on a typical day. When asked what device they normally use to access the internet, 25% of smartphone owners say that they mostly go online using their phone, rather than with a computer. While many of these individuals have other sources of online access at home, roughly one-third of these “cell mostly” internet users lack a high-speed home broadband connection. Smartphone owners under the age of 30, non-white smartphone users, and smartphone owners with relatively low income and education levels are particularly likely to say that they mostly go online using their phones. Many companies focus on developing software or apps which are easily accessible on mobile phones.

Sports betting software producers are also focusing on developing such software. Also, the handy use of smartphones attracts software developers to develop mobile-configured sports betting software. Therefore rise in the use of smartphones is expected to drive the use of the sports betting software market.

Restraints for Sports Betting Market

Risks related to sports betting. (Access Detailed Analysis in the Full Report Version)

Opportunities for Sports Betting Market

Rising Government Initiatives. (Access Detailed Analysis in the Full Report Version)

Introduction of Sports Betting

Sports betting can easily be defined as one of the most widely-spread forms of gambling. In general terms, sports’ betting is placing a wager, commonly referred to as a bet, on the outcome of a particular sports event. It dates back hundreds of years ago, although it is difficult to trace back exactly where and when it all started. It’s safe to say people have been wagering on the results of sports events ever since the latter came to be recognized as such. Some suggest bets were placed for the first time in Ancient Greece, while others insist there is evidence of similar betting activities even before that. Today, sports’ betting has achieved the status of a favorite pastime of millions of sports fans around the world. It generates mind-boggling revenues. With the advent of online bookmakers, it’s easier than ever to place a bet on favorite sport without having to leave home. Bets can be placed on all kinds of sports ranging from popular options like football and basketball to horse or greyhounds racings. Placing bets on sports, both offline and online, is considered legal in most countries throughout the globe. If you’re looking for an online betting destination, you should first make sure you bet at a legitimate web-based sports bookmaker. Usually, legit bookmakers stand out with greater transparency and openly display their license numbers, as well as the names of the authorities and commissions which regulate them. Keep in mind different jurisdictions impose different regulatory practices, some are stricter than others and vice versa. This naturally is reflected in the betting operators’ fairness to punters. Many online bookmakers welcome punters from countries where such activities are deemed illegal. Their argument for doing so is that since they’re based and licensed in jurisdictions where online betting is legal, they are not breaking the law. Sports betting can also extend to non-athletic events, such as reality show contests and political elections, and non-human contests such as horse racing, greyhound racing, and illegal, underground cockfighting.

The global online gambling & betting market size was valued at USD 58 billion in 2021 and will reach USD 182.21 billion by 2030, at a CAGR of 11.8%.

The size of the global online gambling and betting industry amounted to ** billion U.S. dollars in 2024. This has been forecast to rise to *** billion U.S. dollars by 2029. In comparison, the market size of the global sports betting and lottery industry was valued at roughly *** billion U.S. dollars as of March 2025. Overall, the global sports betting industry had more than ******* employees and approximately ****** businesses. What is the most popular type of online gambling in the United States? As of 2024, online sports betting ranked as the form of online gambling with the highest share of participants in the U.S. In total, ** percent of U.S. adults said they made online bets on sports. Meanwhile, the total revenue from sports betting in the U.S. amounted to ***** billion U.S. dollars in 2023, denoting an increase of approximately ** percent from the previous year. Meanwhile, ********** was the most popular sports betting website in the U.S. as of January 2024. What is the United Kingdom’s National Lottery? A lottery is a form of gambling where participants purchase numbered tickets with the aim of matching those numbers with lots, which are drawn randomly at a later date. Established in 1994, the National Lottery is a nationwide version of the activity that is regulated by the Gambling Commission of the United Kingdom. Between April 2023 and March 2024, over ***** billion British pounds worth of National Lottery tickets were sold. Meanwhile, more than *** billion British pounds were available as prize money for potential winners of the National Lottery in the same period.

Global Online Sports Betting market size 2025 was XX Million. Online Sports Betting Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

The Sports Betting Market is estimated to be valued at USD 111.9 billion in 2025 and is projected to reach USD 298.1 billion by 2035, registering a compound annual growth rate (CAGR) of 10.3% over the forecast period.

Get key insights on Market Research Intellect's Online Gambling And Sports Betting Market Report: valued at USD 100 billion in 2024, set to grow steadily to USD 150 billion by 2033, recording a CAGR of 5.2%.Examine opportunities driven by end-user demand, R&D progress, and competitive strategies.

Online Sports Betting Market Outlook

According to our latest research, the global online sports betting market size reached USD 78.5 billion in 2024, demonstrating a dynamic expansion fueled by technological advancements and increasing internet penetration worldwide. The market is experiencing a robust compound annual growth rate (CAGR) of 11.2% from 2025 to 2033. By the end of 2033, the online sports betting market is forecasted to reach an impressive USD 208.4 billion. This growth trajectory is primarily attributed to the widespread adoption of smartphones, the legalization of sports betting in several regions, and the integration of innovative digital technologies that enhance user experience and engagement.

One of the most significant growth factors driving the online sports betting market is the rapid proliferation of internet connectivity and mobile devices across both developed and emerging economies. The accessibility of high-speed internet has revolutionized the way users interact with online sports betting platforms, enabling seamless, real-time betting experiences. The increasing penetration of smartphones, coupled with dedicated mobile applications, has made it easier for users to participate in betting activities from virtually anywhere. This convenience has led to a surge in the number of active bettors, particularly among the younger demographic, who are more inclined to engage with digital platforms. The shift towards mobile-first experiences is expected to remain a key driver for market growth throughout the forecast period.

Another critical factor contributing to the expansion of the online sports betting market is the evolving regulatory landscape. Governments in regions such as North America and parts of Europe have moved towards the legalization and regulation of online sports betting, creating a more secure and transparent environment for both operators and consumers. This regulatory clarity has attracted significant investments from major industry players, who are keen to capitalize on the burgeoning market. Furthermore, these regulatory frameworks often include measures to ensure responsible gambling, which enhances consumer trust and encourages broader participation. The positive impact of regulation is evident in increased market revenues and the entry of new operators, further intensifying competition and innovation within the sector.

Technological advancements are also playing a pivotal role in shaping the future of the online sports betting market. The integration of artificial intelligence (AI), machine learning, and data analytics has enabled operators to offer personalized betting experiences, optimize odds, and detect fraudulent activities in real time. Live or in-play betting, which allows users to place bets during the course of a sporting event, has gained immense popularity due to its dynamic and interactive nature. Additionally, the emergence of eSports betting has opened up new avenues for growth, attracting a tech-savvy audience that is highly engaged with digital content. These innovations are not only enhancing user engagement but also driving higher revenues for operators.

From a regional perspective, Europe continues to dominate the online sports betting market, accounting for the largest share of global revenues in 2024. The region's mature regulatory framework, high levels of internet penetration, and cultural affinity for sports betting have created a fertile ground for market growth. North America is witnessing exponential growth, particularly in the United States, where the legalization of sports betting across multiple states is transforming the landscape. The Asia Pacific region is also emerging as a significant market, driven by a large population base, increasing disposable incomes, and growing interest in both traditional and eSports betting. These regional dynamics are expected to shape the competitive landscape and growth opportunities in the coming years.

The rise of Online Gambling has significantly influenced the online sports betting market, creating a seamless bridge between traditional sports betting and digital gaming experiences. As more users engage with online platforms, the boundaries between sports betting and online gambling are blurring, offering a diverse range of betting options and gaming experie

Global sports betting and lottery companies have experienced remarkable transformations recently, fueled by legislative changes and technological advancements. Sports betting has gained significant traction across the United States, with 38 states and Washington, D.C., having already legalized it. Meanwhile, the European Union and China tightened their regulations to ensure consumer safety and fairness. These regulatory developments, coupled with surges in mobile gaming and increased participation in major sporting events like the UEFA European Men's Championship and the Paris Olympics, have driven substantial growth in both sports betting and lotteries, signaling a rapidly evolving landscape. Revenue has expanded at a CAGR of 6.8% to $329.0 billion in 2025, with a boost of 1.2% that year. Over the past few years, the industry has been characterized by consolidation and market expansions. Major players have aggressively pursued acquisitions to bolster their technological capabilities and expand their geographical reach. Notable moves include Fanatics' acquisition of PointsBet’s U.S. operations and DraftKings' acquisition of Simplebet, focusing on enhancing live betting capabilities. Across the globe, rising disposable incomes and the allure of experiential spending have bolstered lottery and sports betting participation. In China, innovative game offerings have captivated younger demographics, contributing to record-breaking lottery sales in 2024. Despite economic fluctuations, lotteries have remained resilient, their low cost and accessibility supporting profit growth. The next few years promise continued momentum for sports betting and lotteries, driven by ongoing legalization efforts and technological innovations. As more jurisdictions worldwide consider legalizing sports betting, companies stand poised to capture a broader consumer base and tap into a thriving market formerly dominated by illegal operations. The appeal of online platforms and mobile devices, particularly among younger generations, is set to reshape the industry's trajectory, making lotteries and sports betting increasingly accessible. Challenges like gambling addiction and regulatory compliance loom large. To sustain momentum, stakeholders must strike a balance between harnessing technological advancements and ensuring consumer protection. With marquee sporting events and advances in artificial intelligence reshaping the betting experience, the industry is primed for growth, yet it must navigate ethical implications and evolving regulatory landscapes to realize its full potential. Revenue is projected to continue climbing at a CAGR of 1.8% to $359.2 billion in 2030.

In 2022, the market size of the sports betting and lottery sector worldwide was valued at over *** billion U.S. dollars. This figure shows a decrease from the previous year's total of ****** billion. By 2023, the market was forecast to increase to *** billion.

The Sports Betting Market Report is Segmented by Sports Type (Football, Horse Racing, Tennis, and Other Sports Betting); by Betting Platform (Online and Offline); and by Geography (North America, Europe, and Rest of the World). The Market Size Will Be Provided in Value Terms in USD for all the Above-Mentioned Segments.

Global Sports Betting Market size worth at USD 61.32 Billion in 2023 and projected to USD 156.86 Billion by 2032, with a CAGR of around 11% between 2024-2032.

Esports & Sports Betting Market Outlook

In 2023, the global esports & sports betting market size was valued at approximately USD 76 billion, and it is projected to grow significantly to reach around USD 218 billion by 2032, with a compound annual growth rate (CAGR) of 12.5%. This substantial growth is primarily driven by the increasing penetration of the internet, advancements in streaming technology, and the rising popularity of video games and competitive gaming activities worldwide.

One of the key growth factors for the esports & sports betting market is the growing audience for esports events. As competitive gaming garners more mainstream attention, the audience base has expanded beyond traditional gamers to include a diverse demographic. This widening interest has translated into lucrative sponsorship and advertising opportunities, increasing revenue streams for the industry. Furthermore, the COVID-19 pandemic accelerated the shift towards digital entertainment, with many turning to esports and online betting as alternative forms of engagement during lockdowns and restrictions on physical sports events.

Another significant driver is the technological advancements enhancing user experience and accessibility. The introduction of high-speed internet and improvements in streaming platforms have made it easier for fans to watch and bet on games live, in real-time, from anywhere in the world. Moreover, innovations such as virtual reality (VR) and augmented reality (AR) are creating immersive experiences that attract more users to the platforms. Additionally, the development of blockchain technology and cryptocurrencies is providing secure and transparent transaction methods, which is particularly appealing to the betting segment of the market.

The increasing acceptance and legalization of sports betting in various regions are also propelling market growth. Governments are recognizing the potential economic benefits and are creating regulatory frameworks to oversee and tax these activities. This legitimization not only opens up new markets but also encourages partnerships between betting companies and sports leagues, further integrating betting into the sports ecosystem. For instance, several US states have recently legalized sports betting, leading to a surge in market activities and investments.

Regionally, North America and Asia Pacific are leading the market growth, with North America holding a significant share due to early adoption and a strong gaming culture. Asia Pacific, with its large population and increasing disposable incomes, is witnessing rapid growth, particularly in countries like China, South Korea, and Japan, which are hubs for esports activities. Europe and Latin America are also showing substantial potential due to increasing internet penetration and favorable regulatory landscapes. The Middle East & Africa, while currently a smaller market, is expected to grow steadily as infrastructure and internet accessibility improve.

Game Type Analysis

The esports & sports betting market can be segmented by game type into esports and traditional sports. Esports, which involves competitive gaming events, has been witnessing exponential growth, driven by the popularity of games such as League of Legends, Dota 2, and Counter-Strike: Global Offensive. The organized tournaments, often with substantial prize pools, attract millions of viewers online and at live events, contributing significantly to revenue through ticket sales, sponsorships, and media rights. The younger demographic, in particular, shows a strong preference for esports, which is reflected in the increasing number of professional esports players and teams.

Traditional sports betting, on the other hand, remains a robust segment of the market. Betting on sports such as football, basketball, baseball, and horse racing has a long history and continues to attract a broad audience. The integration of modern technology has facilitated the shift towards online sports betting platforms, making it more accessible than ever. In-play betting, where users can place bets on events occurring during a live game, has become particularly popular, adding to the excitement and engagement of traditional sports fans. Furthermore, the legalization of sports betting in various regions is boosting this segment’s growth.

An interesting trend within the game type segment is the crossover between esports and traditional sports. Many traditional sports franchises are investing in esports teams, creating hybrid platforms that appeal to both esports enthusiasts an

Learn more about the Online Sports Betting Market Report by Market Research Intellect, which stood at USD 76.83 billion in 2024 and is forecast to expand to USD 141.83 billion by 2033, growing at a CAGR of 8.12%.Discover how new strategies, rising investments, and top players are shaping the future.

Global Online Gambling market size 2021 was recorded $60.945 Billion whereas by the end of 2025 it will reach $85.65 Billion. According to the author, by 2033 Online Gambling market size will become $169.166. Online Gambling market will be growing at a CAGR of 8.88% during 2025 to 2033.

The global online sports betting market size was approximately USD 66.91 Billion in 2024. The market is assessed to grow at a CAGR of 10.20% between 2025 and 2034, reaching a value of USD 176.73 Billion by 2034.