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

According to a 2024 survey, the age group with the largest share of sports bettors in the United States was ********-years-old. In total, ** percent of U.S. adults belonging to this demographic had used a sportsbook in the past 12 months.

According to a January 2024 survey, ** percent of sports bettors in the United States were male. 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 Kansas , 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.

The market is experiencing dynamic growth, driven by the digital revolution and the emergence of machine learning technologies. These advancements enable more accurate predictions and personalized betting experiences for consumers, creating a competitive edge for market participants. Popular betting options include football (soccer), basketball, tennis, horse racing, cricket, and various other sports events. However, this market landscape is not without challenges. Stringent government regulations and restrictions pose significant obstacles, requiring companies to navigate complex legal frameworks and comply with evolving policies.
As the industry continues to evolve, staying informed of regulatory changes and adapting to technological advancements will be crucial for market success. Companies that effectively balance innovation and regulatory compliance will be well-positioned to capitalize on the growing opportunities in the market.

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

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market continues to evolve, with dynamic market activities shaping its various sectors. Artificial intelligence (AI) is increasingly being integrated into promotional campaigns, enhancing user experience through personalized recommendations and real-time analysis. Spread betting, a popular form of wagering, employs advanced statistical modeling and risk management techniques. Problem gambling remains a significant concern, with player protection measures such as responsible gambling initiatives and KYC procedures being implemented. Betting odds are visualized through data visualization tools, enabling users to make informed decisions. Live streaming and in-play betting provide real-time updates, while API integration and odds comparison tools facilitate seamless data access.

Machine learning algorithms are used for fraud detection and customer segmentation, ensuring secure payment gateways and AML compliance. Bonus offers and loyalty programs are employed as customer acquisition and retention strategies. Data analytics and betting algorithms enable efficient risk management and effective marketing campaigns. Data feeds from sports data providers are crucial for accurate betting odds and real-time score updates. First goalscorer and correct score bets add excitement to the betting experience. Prop bets and Asian handicap betting cater to diverse user preferences. Live score updates and game integrity are ensured through rigorous security protocols and data encryption.

Pre-match betting and futures betting offer opportunities for long-term investment. Ongoing market activities and evolving patterns underscore the continuous dynamism of the market.

How is this Sports Betting Industry 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


  Middle East and Africa

    UAE


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Platform Insights

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

The online market is experiencing notable expansion, fueled by technological advancements and favorable regulatory shifts. Key drivers of this growth include the expanding betting market due to continuous innovation in online channels, the increasing availability of mobile platforms with the widespread use of the Internet and smartphones, and the structural migration of customers from retail to online betting in emerging markets. Improvements in platform quality and user experience, particularly through betting applications, further enhance the appeal of online betting. With digitalization on the rise and smartphone penetration increasing, regions such as APAC and MEA present significant opportunities for growth in the online sports betting sector.

Technological advancements have also brought about the integration of various features, such as machine learning algorithms for risk management and player protection, responsible gambling initiatives, API integration, and odds comparison tools. In-play betting, live sc

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

According to a survey conducted in January 2025, Latinos were the most likely ethnic group to have engaged in betting on sports events in the United States. Specifically, ** percent of Latinos had participated in sports betting at least once in their lives.

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

The “EntertainmentSportsGamblingZones” layer identifies a two-block restriction zone emanating from the gambling entity’s physical location going outward two blocks in all directions. The class “A” entity’s square suffix and lot (SSL) shall be the central point and the restriction zone shall emanate outward from that central point two blocks. This layer will become part of the Districts gambling licensing procedure and will be used to notify the user seeking a gambling license whether they are within the two-block restriction zone or not.

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

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

After the Supreme Court's decision to strike down the federal ban on sports betting in the United States in May 2018, various states have legalized, or introduced legislation to legalize, the sports betting industry. In 2024, the sports betting industry in the U.S. generated a revenue of ***** billion U.S. dollars, denoting an increase of around ** percent over the previous year.

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.

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

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

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

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.

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

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

Market Size statistics on the Global Sports Betting & Lotteries industry in Global