GVR Report cover Sports Betting Market Size, Share & Trends Report

Sports Betting Market Size, Share & Trends Analysis By Platform, By Type, By Sports Type (Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, Others), By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-4-68039-539-7
  • Number of Pages: 131
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2020
  • Industry: Technology

Report Overview

The global sports betting market size was valued at USD 76.75 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 10.2% from 2022 to 2030. The demand for sports betting is driven by factors like the shifting regulatory landscape of the entire gambling sector, the penetration of connected devices, and the developing digital infrastructure. The COVID-19 pandemic greatly influenced the sports sector due to restrictions on sporting activity in most parts of the world. However, online sports betting expanded in popularity during the pandemic due to eSports betting.

U.S. sports betting market size, by sports type, 2020 - 2030 (USD Billion)

Technology had a significant impact on every industry. However, the gambling industry was the most impacted, with the major sports betting companies working hard to simplify their platforms and provide a pleasurable experience. Therefore, the growing need for digitalization is expected to impact the market's online segment, which will witness significant growth in the forecast period. However, the frameworks are being regulated by various governments to provide income opportunities and new experiences to consumers. For instance, once the Supreme Court revoked the Professional and Amateur Sports Protection Act (PASPA) in May 2018, eight states in the United States have allowed sports betting.

Platform Insights

The market in terms of the platform was led by the online platform segment which is expected to dominate the market by the end of the forecast period, showcasing growth at a CAGR of 12.6%. The anticipated growth can be credited to the increasing use of smartphones and the internet worldwide. Technological development and digitalization have impacted the lifestyle of the global population. Codependent factors are financial growth, improvement in the standard of living, and an increase in disposable income.

Betting Type Insights

The market was dominated by the fixed odds wagering segment in 2021, accounting for a market share of over 25% whereas the eSports betting segment is anticipated to grow at the fastest CAGR of 14.8% during the forecast period. According to DataReportal, 60.0% of the world population has access to the internet. The majority of customers are engaging in leisure activities like sports betting and seeking extra income in addition to entertainment. Additionally, interactive games are gaining the interest of the young. While a significant amount of the population is indulging in competitive matches for entertainment, income, and hobby; eSports competitions attract large audiences. Therefore, the market has begun monetizing the opportunity in form of eSports betting.

Sports Type Insights

In terms of sports type, football events generate the majority of the revenue from all other forms of sports. Football accounts for more than 23.0% of the market share and is expected to multiply in the future. Following football, the horse racing segment accounted for the second-largest market share and is expected to grow at a CAGR of 10.3% during the forecast period. Basketball and baseball segments are also expected to witness a growth of close to 10%. Inclusively many forms of sports are expected to grow. The factors contributing to the development of these segments are the increasing number and annual events of sports leagues such as NFL, IPL, EFL, and more.

Global sports betting market share, by sports type, 2021 (%)

Regional Insights

The Asia Pacific region accounted for the largest revenue share of around 30.0% in 2021 and is expected to maintain the highest CAGR during the forecast period. The biggest factor contributing to the market's development is the presence of a significant percentage of young populations who also indulge in several forms of sports. Gambling is a popular characteristic found in the people of China and India. Due to such collective factors, the market is expected to grow the quickest.

The Europe region is predicted to showcase a CAGR of almost 11.0% during the forecast period. The regulations in Europe in regards to sports betting are favorable for its population. The pandemic restricted land-based gambling as a result online gambling increased notably. For instance, data derived from National Authority Data examined taxations of all the licensed Swedish gambling operators and denoted the spike in online gambling.

Key Companies & Market Share Insights

The major players in the market focus on developing engaging websites and providing exclusive deals to have a competitive edge in the industry. Companies are also focusing on integrating technology like APIs to enhance functionalities and provide a simplified user interface. There are also third-party offers in the market that develop requirements for sports betting companies. For instance, Viscus Infotech Ltd., an Indian software company develops sports betting applications and provides sportsbook betting solutions based on algorithms. Some of the prominent players operating in the global sports betting market include:

  • 888 Holdings Plc

  • Bet365

  • Betsson AB

  • Churchill Downs Incorporated

  • Entain plc

  • Flutter Entertainment Plc

  • IGT

  • Kindred Group Plc

  • Sportech Plc

  • William Hill Plc

Sports Betting Market Report Scope

Report Attribute


Market size value in 2022

USD 83.65 billion

Revenue forecast in 2030

USD 182.12 billion

Growth Rate

CAGR of 10.2% from 2022 to 2030

Base year for estimation


Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD billion and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Platform, betting type, sports type, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S; Canada; U.K.; Germany; France; Italy; Rest of Europe; China; India; Japan; Rest of Asia Pacific; Brazil; Mexico; Rest of Latin America

Key companies profiled

888 Holdings Plc; Bet365; Betsson AB; Churchill Downs Incorporated; Entain plc; Flutter Entertainment Plc; IGT; Kindred Group Plc; Sportech Plc; William Hill Plc

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global sports betting market based on platform, betting type, sports type, and region:

  • Platform Outlook (Revenue, USD Billion, 2018 - 2030)

    • Offline

    • Online

  • Betting Type Outlook (Revenue, USD Billion, 2018 - 2030)

    • Fixed Odds Wagering

    • Exchange Betting

    • Live/In Play Betting

    • Pari-mutuel

    • eSports Betting

    • Others

  • Sports Type Outlook (Revenue, USD Billion, 2018 - 2030)

    • Football

    • Basketball

    • Baseball

    • Horse Racing

    • Cricket

    • Hockey

    • Others

  • Region Outlook (Revenue, USD Billion, 2018 - 2030)

    • North America

      • U.S

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Rest of Europe

    • Asia Pacific

      • China

      • India

      • Japan

      • Rest of Asia Pacific

    • Latin America

      • Brazil

      • Mexico

      • Rest of Latin America

    • Middle East & Africa

Frequently Asked Questions About This Report

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