Sports Betting Market Size, Share, and Growth Analysis, By Type (Line-In-Play, Fixed Old Betting), By Platform (Online, Offline), By Sports, By Operator, By Age Group, By Region - Industry Forecast 2025-2032

Sports Betting Market size was valued at USD 93.0 billion in 2023 and is poised to grow from USD 103.23 billion in 2024 to USD 237.9 billion by 2032, growing at a CAGR of 11.0% during the forecast period (2025-2032).

The demand for sports betting is surging due to the ubiquity of connected devices, increasing interest in eSports, and advancements in digital infrastructure. Although the COVID-19 pandemic initially hindered the sports industry due to widespread restrictions, it also accelerated the global rise of online sports betting. As technology reshapes all sectors, the gambling industry, particularly, faced significant challenges. Major sports betting organizations are actively refining their platforms to enhance user experience and accessibility. This focus on digitalization is expected to drive substantial growth in the online segment of the market during the forecast period. As the landscape evolves, the intersection of technology and sports betting will play a crucial role in shaping future opportunities.

Top-down and bottom-up approaches were used to estimate and validate the size of the Sports Betting market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Sports Betting Market Segments Analysis

Global Sports Betting Market is segmented by Type, Platform, Sports, Operator, Age Group and region. Based on Type, the market is segmented into Line-In-Play, Fixed Old Betting, Exchange Betting, Daily Fantasy, Spread Betting, E-Sports, Pari Mutuel and Others. Based on Platform, the market is segmented into Online and Offline. Based on Sports, the market is segmented into Racing and Non-Racing Sports. Based on Operator, the market is segmented into Food Grade, Casinos, Bingo Halls, Card Rooms, Bookmakers, Coin-Operated Gambling Device, Concession Operators, Video Gaming Terminals, Lotteries Operator, Off-Track Sports Betting and Others. Based on Age Group, the market is segmented into Gen Z, Gen Y/Millennials, Gen X and Baby Boomers. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Sports Betting Market

The sports betting market is significantly driven by the widespread engagement in online gambling, appealing especially to younger demographics. This trend spans across numerous countries, regardless of their stance on the legality of sports betting, and extends its reach to individuals who may not typically follow sports. While the average online sports bettor tends to be around 38 years old, those who prefer traditional betting methods are typically about 45. As interest in sports betting continues to rise among the general population, it is expected to substantially contribute to the growth and expansion of the market.

Restraints in the Sports Betting Market

The sports betting market faces significant growth challenges primarily due to stringent government regulations concerning sports activities. These regulations are designed to maintain the integrity of the industry but create substantial barriers for expansion. Additionally, concerns surrounding illegal sports betting practices are anticipated to pose further difficulties for market development throughout the forecast period. As stakeholders navigate these legal constraints and societal apprehensions about unregulated betting, the overall progress of the sports betting sector may be hindered, prompting a need for robust strategies to address these issues effectively while promoting responsible betting practices.

Market Trends of the Sports Betting Market

The sports betting market is experiencing a significant upward trend, fueled by an expanding array of sports leagues and events globally. With the emergence of new professional leagues and enhanced accessibility of online betting platforms, consumers are increasingly inclined to place higher wagers across diverse sporting events. This surge is further fueled by advancements in technology, such as mobile betting apps and real-time analytics, which enhance user engagement and betting experiences. Consequently, leading sports leagues and tournaments are embracing partnerships with betting operators, driving an exponential growth in the industry as they capitalize on the lucrative opportunities presented by this evolving market landscape.