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

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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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The market size of the global sports betting industry stood at *** billion U.S. dollars as of March 2025. Within this industry, there were over ******* employees in a total of nearly ****** businesses. Many countries participate in legal sports betting, one of the more recent being the United States. Despite being a relative newcomer, the revenue of the sports betting industry in the U.S. stood at over ** billion U.S. dollars in 2023.

In February 2025, Nevada generated a total revenue of ***** million U.S. dollars from sports betting, down from **** million the previous month. Land-based sports betting has been legal in the U.S. state of Nevada since 1949. When the Professional and Amateur Sports Protection Act (PASPA) was passed by Congress in 1992, Nevada was handed a legal monopoly on single-game wagering in the United States. Meaning that for decades it was possible to play college sports betting, MLB sports betting, NBA sports betting, and live and off-track horse betting in the state. Nowadays, sports betting has also been legalized in other U.S. states.

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.

Report Attributes	Details
Sports Betting Market Size (2024E)	US$ 102.4 Billion
Forecasted Market Value (2034F)	US$ 265.5 Billion
Global Market Growth Rate (2024 to 2034)	10% CAGR
East Asia Market Share (2034E)	23.1% CAGR
Market Share of Football Betting Segment (2034F)	42%
South Korea Market Growth Rate (2024 to 2034)	10.8%
Key Companies Profiled	IGT 888 Holdings Plc Endeavor Group Holdings Inc. Bet365 Viscus Infotech Ltd. Betsson AB William Hill Plc Churchill Downs Incorporated Sportech Plc Entain plc Kindred Group Plc Flutter Entertainment Plc

Country-wise Insights

Attribute	United States
Market Value (2024E)	US$ 10.9 Billion
Growth Rate (2024 to 2034)	10.5% CAGR
Projected Value (2034F)	US$ 29.4 Billion

Attribute	China
Market Value (2024E)	US$ 11.2 Billion
Growth Rate (2024 to 2034)	10% CAGR
Projected Value (2034F)	US$ 29.1 Billion

Category-wise Insights

Attribute	Online
Segment Value (2024E)	US$ 85 Billion
Growth Rate (2024 to 2034)	10.6% CAGR
Projected Value (2034F)	US$ 233.6 Billion

Attribute	Football
Segment Value (2024E)	US$ 51.2 Billion
Growth Rate (2024 to 2034)	8.1% CAGR
Projected Value (2034F)	US$ 111.5 Billion

Yearly and monthly growth charts for sports betting in Pennsylvania , including handle, revenue, and growth metrics

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.

According to a January 2025 survey conducted among adults in the United States, ***percent of male respondents said they had an online sports betting account. Meanwhile, the figure for women stood at ** percent. Sports betting has been allowed in certain states in the U.S. since the federal ban was lifted by the Supreme Court in May 2018.

Yearly and monthly growth charts for sports betting in New Jersey , including handle, revenue, and growth metrics

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.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 103.08 Billion
Market Forecast in 2033	USD 224.12 Billion
Market Growth Rate 2025-2033	8.56%

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.

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

Yearly and monthly growth charts for sports betting in Tennessee , including handle, revenue, and growth metrics

The UNITY Odds Feed API – Historical Data Access offers a rich dataset of sports betting odds, covering a global array of leagues and events. This API enables users to retrieve detailed historical odds for both pre-match and live/in-play markets. It includes specific betting metrics such as Asian Handicap, Totals (Over/Under), Corners, and Cards, with data sourced from numerous major Asian sportsbooks and exchanges.

This historical feed is particularly well-suited for:

Data scientists and analysts building predictive models

Sportsbooks improving odds-making strategies

Media platforms generating betting insights

Researchers analyzing market efficiency and odds movement

Key Features: Pre-match and In-play Odds: Track how betting lines moved before and during events.

Multi-Sport Coverage: Includes football (soccer), basketball, and tennis—spanning top leagues like the Premier League, NBA, and Grand Slam tournaments.

Market Breadth: Extensive odds data for niche markets such as corners and cards.

Bookmaker Diversity: Historical odds from a wide range of Asian bookmakers and betting exchanges with low spreads and back/lay functionality.

Structured & Filterable: Access raw or formatted data by sport, league, event, or market.

This API delivers the tools needed to extract meaningful insights from betting markets—whether you're building advanced algorithms, enhancing app features, or deep-diving into betting behavior trends.

Yearly and monthly growth charts for sports betting in Kansas , including handle, revenue, and growth metrics

Global Sports Betting market size is expected to reach $145.6 billion by 2029 at 5.1%, segmented as by type, live/in-play, fixed odd betting, exchange betting, daily fantasy, spread betting, pari-mutuel, other types

In July 2023, a survey was conducted to determine the share of sports bettors in the United States that place bets online vs. in person. The majority of respondents, almost **********, stated that they preferred to place bets online or via mobile. Comparatively, **** percent of survey participants said that they liked placing bets in-person.

Notes: (1) Monthly payments are due to the State by the 15th of the following month. (2) The operation of the online sports wagering began on October 12, 2021. (3) Monthly resettlements are wagers where the original settled wager result is modified due to an error or change in result of the underlying event. (4) Federal Excise Tax is 0.25% of Net Wagers. (5) This amount shall only include coupons and credits issued for use for gaming in the state and redeemed in the State of Connecticut. (6) Per Public Act 21-23, from October 2021 – September 2022 the promotional deduction is limited to the lesser of 25% of sports wagering Win/Loss, or actual promotional coupons or credits wagered. From October 2022 – September 2023 this limit drops to 20%, and to 15% thereafter.. (7) Payment rate is 13.75% of Gross Gaming Revenue. Monthly payment is the greater of the calculated payment or $0 (if calculated payment is negative). (8) In May 2022, MPI Master Wagering License CT, LLC reclassified $2.6M of certain bets from October 2021 - March 2022 originally reported as resettlements, as winnings. This had no impact on Gross Gaming Revenue or payments to the state because winnings and resettlements are treated the same in the GGR calculation. Corrected amounts are reported above. (9) In May 2022, MPI Master Wagering License CT, LLC revised its October 2021 filing to reflect patron winnings that were cashed after the close of operations during the limited hours of Soft Launch. This adjustment reduced the payment due to the State of Connecticut by $31,669; taken as a credit against the May 2022 payment due. (10) In July 2024, Mohegan Digital, LLC's online gaming operator identified and reported data latency issues that caused errors in the May 2024 payment calculations submitted to the State of Connecticut. Mohegan Digital, LLC amended their May 2024 return, which resulted in an increase of $15,952 in both Wagers and Cancelled Wagers, an Increase of $5,375 in Patron Winnings, and a decrease of $5,375 in Monthly Resettlements. Amended figures are shown above.

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.

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.

In 2023, Sports Betting Market reached a value of USD 113.54 billion, and it is projected to surge to USD 223.66 billion by 2030