PUBLISHER: The Business Research Company | PRODUCT CODE: 1674001
PUBLISHER: The Business Research Company | PRODUCT CODE: 1674001
Sports betting involves a form of gambling where individuals place bets on sporting events, aiming to win a specified sum if the chosen team or individual emerges victorious in the event.
The primary types of sports betting include line-in-play, fixed-odds betting, exchange betting, daily fantasy sports, spread betting, pari-mutuel betting, and other variations. Line-in-play refers to a wagering method in which the bookmaker or sportsbook establishes odds, designating favored and underdog teams in a match. The sports segment encompasses a wide range of sports, such as football, basketball, baseball, horse racing, cricket, hockey, e-sports, American football, and others, depending on the specific type of betting. Additionally, the platform is categorized into online and offline based on the location of the betting activity.
The sports betting market research report is one of a series of new reports from The Business Research Company that provides sports betting market statistics, including sports betting industry global market size, regional shares, competitors with sports betting market share, detailed sports betting market segments, market trends and opportunities, and any further data you may need to thrive in the sports betting industry. This sports betting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The sports betting market size has grown strongly in recent years. It will grow from $114.2 billion in 2024 to $124.39 billion in 2025 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to an increase in number of sports events, growth in millennial population, a rise in disposable income, and increasing access to smartphones and smart computing devices such as pcs, laptops.
The sports betting market size is expected to see strong growth in the next few years. It will grow to $153.71 billion in 2029 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to increasing focus of virtual sports betting, focus on product innovations, increasing adoption of 5G networks, increasing in mergers and acquisitions, urbanization, and an increase in internet penetration. Major trends in the forecast period include focus on adoption of augmented reality and virtual reality, focus on providing mobile betting services, focus on implementation of artificial intelligence in betting platforms, focus on increasing investment, focus on entering strategic partnerships, focus on the use of blockchain technology and focus on live streaming-integrated mobile sportsbook.
Anticipated growth in the sports betting market is fueled by the expanding landscape of sports leagues and events. These competitions, comprising clubs, nations, associations, or individuals vying for championship titles, are structured within specific schedules or seasons. They necessitate full participation from all teams or members to determine an ultimate champion. Presently, a Wire-published study reveals an active presence of over 100 professional leagues worldwide across diverse sports. The emergence of new professional sports leagues globally offers consumers opportunities for diversified betting, consequently propelling the sports betting market's expansion.
The expected rise in internet penetration is anticipated to drive the growth of the sports betting market. The Internet is a vast network connecting computers worldwide, enabling information sharing and communication from any location with internet access. As internet usage increases, so does the adoption of devices such as personal computers (PCs), laptops, and smartphones, which encourages the use of betting sites. For example, in April 2024, the European Commission reported that among individuals aged 16 to 74 surveyed in Belgium, 92% had used the internet in the past year, with 70% making purchases-up 2% from 2022. Consequently, the growth in internet penetration is fueling the expansion of the sports betting market.
Major companies in the sports betting market are prioritizing technological innovations like real-time betting and AI-driven platforms to offer bettors more engaging and dynamic wagering options, enhancing user experience and participation. Real-time betting, also referred to as in-play or live betting, enables bettors to place wagers on specific outcomes while a sports event is ongoing, with odds and options continuously updated based on the game's progress. For example, in September 2024, Sportradar AG, a Swiss sports company, launched micro markets, an in-play betting product that provides granular, real-time betting options. This product utilizes artificial intelligence (AI) and extensive data analytics to process hundreds of thousands of data points per match, ensuring that the betting options are both diverse and timely. This includes unique bets on specific events within a game, such as predicting the next point in tennis or the outcome of a serve. As a result, this new product significantly expands the range of available betting opportunities by allowing bettors to engage with specific, short-term outcomes during sporting events.
Companies operating in the sports betting market are actively pursuing strategic partnerships to fortify their product offerings. For instance, in February 2022, SCCG Management, a US-based consultancy specializing in casinos and iGaming, joined forces with Odds AI, headquartered in Sydney, Australia. This collaboration aims to extend advisory services, investment opportunities, and business development support, with a focus on expanding into North America's sports betting markets. Additionally, DAZN, a UK-based sports streaming media company, announced a strategic alliance with gambling firm Pragmatic Group in April 2022. Under this partnership, Pragmatic Group will provide the foundational platform and content for a new branded sports betting product, taking charge of ongoing product development initiatives.
In September 2024, Flutter Entertainment plc, a US-based gambling company, acquired NSX Group for $350 million. This acquisition is intended to bolster Flutter Entertainment's position in the rapidly expanding Brazilian sports betting market, allowing the company to leverage local expertise to enhance its product offerings. The goal is to create long-term shareholder value through increased market share and future profitability. NSX Group is a UK-based company that specializes in sports betting.
Major companies operating in the sports betting market include Flutter Entertainment plc, Bet365 Group, Entain PLS, Caesars Entertainment, Kindred Group plc, Churchill Downs Incorporated, DraftKings Inc., Betsson AB, 888 Holdings, IGT, Dream11, 1xBet, 22bet, PureWin, 20Bet, Sattamatka5com, Go Winning, Wozo Gaming, FDJ - La Francaise des Jeux, Betclic Everest Group, Royal Panda, Lapalingo, Bet3000, Bayes Esports, Mail.ru Games, Lottohelden, FCwetten, Sazka, Synot Tip, Tipsport, winline.ru, FanDuel Sportsbook, BetMGM, Barstool Sportsbook, PointsBet, BetRivers, FOX Bet, Sporttrade Inc, SuperDraft Inc, BetWarrior, Bplay, William Hill, LSports Data, Mostbet, Bettilt, Shangri La Live, Parimatch, NetBet, Unibet.
Western Europe was the largest region in the sports betting market in 2024. The regions covered in the sports betting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the sports betting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The sports betting market includes revenues earned by entities by operate facilities that offer gambling services specific to sports. Sports betting is the term used for the betting action involved with predicting a sporting event and placing a wager on the outcome of that event to win money. It involves wagers being placed on sports such as football, basketball, baseball, hockey, rugby, boxing, horse racing, car races, and tennis. The market covered in this report does not include sales of services by sports betting shops (betting shops are the physical premises of a bookmaker where people can place bets) not recognized by governments. The market numbers covered in this segment also include the sales of e-sports betting services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Sports Betting Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on sports betting market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for sports betting ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The sports betting market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.