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.

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Sports Betting Market Size 2025-2029

The sports betting market size is forecast to increase by USD 221.1 billion, at a CAGR of 12.6% between 2024 and 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 : 12.6%
APAC: Largest market in 2023

Market Summary

The market is an ever-evolving landscape shaped by technological advancements and regulatory frameworks. The integration of core technologies such as machine learning and artificial intelligence is revolutionizing the industry, enhancing prediction accuracy and user experience. However, stringent government regulations and restrictions pose significant challenges. According to recent studies, the application of machine learning in sports betting is expected to account for over 20% of the total market share by 2025. As we move forward, key companies continue to innovate, offering a diverse range of services from traditional sports betting to in-play betting and esports wagering.
Related markets such as online gambling and fantasy sports also contribute to the market's dynamics. The market's continuous evolution presents both opportunities and challenges, requiring stakeholders to stay informed and adapt to the changing landscape.

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

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How is the Sports Betting Market Segmented and what are the key trends of market segmentation?

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
  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 undergoing continuous evolution, fueled by technological advancements and favorable regulatory changes. Online betting segments account for a significant portion of this growth, driven by factors such as the expansion of the overall betting market, the increasing penetration of the Internet and smartphones, and the structural migration of customers from retail to online channels. Technological innovations, including geofencing technology, in-play betting data, machine learning models, and real-time data processing, have transformed the online betting landscape. Security protocols, user behavior analytics, AML compliance software, and fraud detection systems ensure a secure and reliable user experience. Betting market liquidity, customer identity verification, and database management systems enable seamless transactions and trading.

Moreover, artificial intelligence, live betting platforms, mobile app development, loyalty programs, and affiliate marketing programs cater to the evolving preferences of customers. Predictive modeling, risk management models, odds calculation algorithms, customer segmentation, player profiling, and transaction processing further enhance the user experience. Compliance regulations, data streaming pipelines, and regulatory reporting are crucial aspects of the market, ensuring transparency and accountability. Betting odds comparison, CRM integration, payment gateway integration, and statistical arbitrage are essential tools for operators to optimize their businesses and maintain competitiveness. According to recent reports, the online the market is expected to grow by 25% in the next year, and 30% in the next five years.

This growth is attributed to the increasing popularity of online betting, the proliferation of mobile devices, and the continuous innovation in technology and user experience. Furthermore, the Asia-Pacific and Middle East and Africa regions are projected to offer significant growth opportunities due to the rising adoption of digital technologies and the increasing acceptance of online betting in these markets. The market is a dynamic and evolving industry, with ongoing innovation and regulatory changes shaping its future.

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Global Online Sports Betting Market size was USD 54.56 billion in 2023 and is grow to around USD 142.56 billion by 2032 with a CAGR of roughly 10.5%.

Yearly growth chart for sports betting in US states, including handle, revenue, and growth metrics

US Online Sports betting industry is supported by some of the major players that oversee today’s betting and money exchange, actively streaming around the globe. The US online sports betting market has been experiencing significant growth and expansion over the past few years, especially since the unprecedented arise of Covid-19.

Online Sports Betting Market Outlook

The global online sports betting market size was estimated at approximately USD 70.78 billion in 2023 and is projected to reach USD 148.06 billion by 2032, growing at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2032. The surge in market size is primarily driven by the increasing penetration of internet services, the growing adoption of smartphones, and favorable regulatory changes in several countries that are making online sports betting more accessible to a broader audience.

The proliferation of internet connectivity and the subsequent growth in smartphone penetration have significantly contributed to the market growth of online sports betting. As more individuals gain access to the internet, the potential customer base for online sports betting platforms expands. Furthermore, the convenience and user-friendly interfaces offered by mobile applications make it easier for users to place bets, check odds, and follow their favorite sports events, thus driving market growth. The technological advancements in mobile applications, such as real-time updates and secure payment options, are also enhancing user experience, further propelling the market.

Another critical growth factor is the evolving regulatory landscape across various regions. Governments in multiple countries are recognizing the potential economic benefits of legalizing online sports betting, which include increased tax revenues and job creation. Legislative changes in regions such as North America and Europe have led to the legalization and regulation of online sports betting activities, which has significantly boosted market growth. Moreover, the reduction in stigma associated with gambling has encouraged more people to participate in online sports betting, further contributing to the market expansion.

The rising popularity of sports events and leagues is also a significant driver behind the growth of the online sports betting market. Major sports events such as the FIFA World Cup, NFL Super Bowl, and the Olympics attract millions of viewers worldwide, providing ample opportunities for betting activities. Additionally, the increasing viewership of esports, which involves competitive video gaming, has opened up a new segment within the online sports betting market. Esports betting has gained substantial traction, particularly among the younger demographics, who are avid followers of competitive gaming.

Regionally, the online sports betting market shows promising growth potential in regions such as North America, Europe, and Asia Pacific. North America, particularly the United States, has seen substantial growth following the legalization of sports betting in several states. Europe continues to be a significant market due to the longstanding popularity of sports betting and robust regulatory frameworks. The Asia Pacific region is also experiencing rapid growth, fueled by the increasing adoption of smartphones and the growing middle-class population with disposable incomes. The diverse sports culture and the rising prominence of cricket and football betting in countries like India have further propelled the market in this region.

The advent of Internet Betting for Sports and Casinos has revolutionized the way people engage with betting activities. With the proliferation of online platforms, users can now access a wide range of betting options from the comfort of their homes. This convenience has been a significant factor in the growth of the online sports betting market, as it allows users to participate in betting activities without the need to visit physical locations. The integration of casino games with sports betting platforms has further enhanced user engagement, offering a comprehensive entertainment experience. This synergy between sports and casino betting is attracting a diverse audience, contributing to the market's expansion.

Platform Analysis

The online sports betting market is segmented by platform into desktop and mobile. The desktop platform has traditionally been the primary medium for online sports betting, offering a more extensive interface and better visualization of data. Desktop platforms often come with detailed analytics and statistics that enable serious bettors to make informed decisions. However, the market dynamics are rapidly shifting towards mobile platforms due to the increasing accessibility and convenience they offer. Mobile apps enable users to place bets on-the-go, check l

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.

In 2023, the online sports betting market in the United Kingdom was valued at **** billion U.S. dollars. This denoted an increase of around ** percent from the previous year.

In July 2025, Lottomatica was the leading operator for retail sports betting in Italy, accounting for roughly ** percent of the market's total gross gaming revenue (GGR). That month, Snai and Eurobet followed behind, holding a market share of around ** percent and ** percent, respectively. Bets from the Boot: the Italian cities with the highest GGR Between January and June 2025, Naples was the Italian city with the highest gross gaming revenue from virtual sports betting, ahead of Rome and Milan. The same three cities also reported the highest GGR from retail sports betting that year Soccer betting in Italy Soccer betting is the most profitable segment of sports betting in Italy, with soccer wagers amounting to nearly ** billion euros in 2023. That year, Serie A was the soccer league that generated the most significant income, with the amount wagered on Serie A soccer games totaling almost ***** billion euros.

Recent developments include: December 2023: Betsson collaborated with Racing Club de Avellaneda for the upcoming 2023/2024 season. Starting May 19, the Swedish brand logo would be featured on the upper back of the men’s and women’s First Division football teams’ shirts for local and international matches., September 2023: Betsson was awarded a license to offer online sports betting on the locally regulated market in France. The operations in France would run in collaboration with a local partner. The launch in the country took place during the fourth quarter of 2023 under the Betsson brand., March 2023: OpenBet, a multinational company that provides sports betting entertainment, expanded its presence in the United States with a day-one launch in Massachusetts.. Key drivers for this market are: Increasing Popularity of Online Gambling, Advancement In Security, Encryption, and Streaming Technology. Potential restraints include: Regulatory Uncertainty And Compliance. Notable trends are: Increasing Popularity of Online Gambling.

Developing digital infrastructure and high penetration of connected devices in gaming are increasing the indulgence of sports betting around the world. The global sports betting market has been valued at US$ 102.4 billion in 2024 and has been projected to accelerate at 10% CAGR to reach US$ 265.5 billion by the end of 2034.

Country-wise Insights

Category-wise Insights

Online Sports Betting Market valuation is estimated to reach USD 54.55 Bn in 2025 and is anticipated to grow to USD 98.50 Bn by 2032 with steady CAGR of 8.8%.

online gambling and sports betting market size is projected to grow USD 208.10 billion by 2034, exhibiting a CAGR of 7.26%.

The Online Sports Betting Market can be segmented based on several factors, including sports type, type, and application.Sports Type: The Sports Type segment includes Football, Horse Racing/ Riding, Car Racing, Cricket, Hockey, Boxing, Baseball, Basketball, and Tennis.Type: The Type segment includes Line-in-Play, Fixed Odds Betting, Exchange Betting, Daily Fantasy, Spread Betting, E-Sports, and Others.Application: The Application segment includes Web-Based and Mobile-Based. Recent developments include: In September 2023, DraftKings is set to launch its mobile sportsbook in Kentucky on September 28, 2023, in June 2023, DraftKings reached an agreement with ECL Corbin, LLC, a wholly owned subsidiary of ECL Entertainment, LLC, dba The Mint Gaming Hall at Cumberland (“Williamsburg”) and Cumberland Run (“Corbin”). This move expands DraftKings' presence in the growing Online Sports Betting market, offering a wide range of betting options and increasing competition among online gaming providers in Kentucky. In October 2022, Caleta Gaming and Sportsbet.io strengthen their partnership with the launch of Clubhouse Bingo. the partnership between Caleta Gaming and Sportsbet.io, which began a few years ago, with all Caleta Gaming's Brazilian games. .

Global Online Gambling and Sports Betting is segmented by Application (E-sports, Online casinos, Fantasy sports, Mobile gaming), Type (Online betting platforms, Casino games, Sports betting services) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)

Line-in-play was the largest segment of the Russian online sports betting market, with a revenue of over ** million U.S. dollars in 2019. That type of betting takes place during the game. Daily fantasy, which was the third leading segment in 2019, was forecast to reach the second position by 2026.

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.

The U.S. Online Sports Betting Market Size Was Worth USD 14 Billion in 2023 and Is Expected To Reach USD 33 Billion by 2032, CAGR of 10.3%.

The online sports betting market in Romania was measured at approximately ** million U.S. dollars in 2019, with football being the leading discipline. In 2026, the market size was forecast at over *** million U.S. dollars.