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

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.

Snapshot img

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.
Request Free Sample

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

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.

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.

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

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

When surveyed between July and October 2024, it was found that ***** percent of adults in Great Britain had bet on live football in the past four weeks. This was nearly ****** the share of adults who had bet on live horse or dog racing.

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 Kansas , including handle, revenue, and growth metrics

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

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

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

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

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

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 two-thirds, stated that they preferred to place bets online or via mobile. Comparatively, 25.4 percent of survey participants said that they liked placing bets in-person.

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.

Download Free Sample
The sports betting market research report helps the market vendors to break down the various factors that drives the growth of the sports betting market industry.

One of the key factors that will drive the market growth is Digital revolution. The information about the market trends and drivers will assist the vendors to plan new market strategies. For more information on the key market drivers, trends, and challenges click here.

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

The global sports betting data service market is experiencing robust growth, driven by the increasing popularity of online sports betting and the rising demand for real-time data and analytics. The market's expansion is fueled by several key factors, including the legalization and regulation of sports betting in various jurisdictions, technological advancements in data collection and processing, and the growing sophistication of betting strategies among both casual and professional bettors. The proliferation of mobile betting platforms further accelerates market growth, offering convenient access to betting services and real-time data feeds. Key players in the market, such as Sportradar Group, Genius Sports, and Betradar, are continually innovating to provide comprehensive and accurate data, enhancing their competitive edge. This involves investing in advanced data analytics, artificial intelligence, and machine learning to refine their offerings and cater to the evolving needs of their clients. The market is segmented by data type (e.g., pre-match and in-play data), sports type, and geographic region, with North America and Europe currently holding significant market shares. Future growth will likely be driven by the expansion into emerging markets and the integration of new technologies, such as blockchain and the metaverse, into sports betting platforms. The increasing focus on data security and integrity also presents both a challenge and opportunity for market players. Despite the significant growth potential, certain challenges restrain market expansion. Concerns regarding data accuracy, integrity, and the potential for manipulation pose a risk. Furthermore, stringent regulatory frameworks and compliance requirements in different jurisdictions can increase operational complexities and costs for market participants. The competitive landscape is highly fragmented, with numerous established and emerging players vying for market share. Successful players will need to prioritize innovation, data security, and strong relationships with sports leagues and betting operators. The long-term growth of the market is heavily dependent on the continued legalization and responsible regulation of sports betting globally, coupled with the development of sustainable and ethical data sourcing and usage practices. A steady CAGR of around 15% is expected over the next decade, pushing the market to substantial size by 2033.