Europe Sports Betting Market To Reach $65.54 Billion By 2030

March 2024 | Report Format: Electronic (PDF)

Europe Sports Betting Market Growth & Trends

The Europe sports betting market size is anticipated to reach USD 65.54 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.9% from 2024 to 2030. The globalization of sports and the integration of international leagues and tournaments into European betting markets have fueled the growth of sports betting. Major sporting events such as the FIFA World Cup, UEFA European Championship, Wimbledon, and the Olympics attract widespread attention and betting interest from European consumers, driving significant betting volumes and revenues for sports betting operators, thus driving the growth of the sports betting market in Europe.

The COVID-19 pandemic had a negative impact on the European sports betting market. The cancellation or postponement of sports events during the pandemic restrained the market growth. With major tournaments, leagues, and competitions either suspended or canceled outright, the absence of live sports events severely diminished consumer betting opportunities. It led to a significant decline in betting volumes and revenues for sports betting operators.

The presence of favorable betting policies in the region is driving the growth of the sports betting market in the region. Many European countries, such as the UK, Ireland, Denmark, and France, have progressive policies promoting a competitive and well-regulated betting market. It facilitates the entry of new operators into the market and encourages competition, leading to innovation, improved services, and better value for consumers.

Moreover, established responsible gambling initiatives and regulatory bodies in Europe, such as the European Gaming & Betting Association, help build trust and confidence among consumers by promoting responsible gambling practices, ensuring fairness and transparency in betting operations, and providing avenues for dispute resolution, to protect consumers and maintain the integrity of the betting market, thus driving the growth of sports betting market in the region.

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Europe Sports Betting Market Report Highlights

  • Based on the type of betting, the fixed odd wagering segment accounted for the highest revenue share of 27.7% in 2023 due to the stability and predictability of the payouts

  • Based on platform, the online segment dominated the market in 2023 and is expected to grow at a significant CAGR from 2024 to 2030. It can be attributed to the collaborations between sports teams, leagues, and betting companies, thus increasing the visibility of sports betting and attracting a larger customer base.

  • In terms of sports type, the football segment accounted for the largest revenue share in 2023. It can be attributed to the popularity of football in Europe due to popular football clubs like Real Madrid, Liverpool FC, FC Barcelona, and Manchester United.

  • The UK held a significant share of 34.6% in 2023 and is expected to grow at a significant CAGR during the forecast period. Favorable gambling policies in the country drive the market's growth.

  • In November 2023, International Game Technology PLC formed an understanding with Ponce Plaza Hotel & Casino to grow its sports betting company in Puerto Rico. Through the agreement, the casino utilized IGT PlaySports technology and a proficient trading advisory services team to support Puerto Rico's casino-branded retail and mobile sportsbook, known as PlayBets by Ponce Plaza.

Europe Sports Betting Market Segmentation

Grand View Research has segmented the Europe sports betting market based on type, platform, sports type, and region:

Europe Sports Betting Platform Outlook (Revenue, USD Billion, 2018 - 2030)

  • Offline

  • Online

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

  • Fixed Odds Wagering

  • Exchange Betting

  • Live/In Play Betting

  • Esports Betting

  • Others

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

  • Football

  • Basketball

  • Baseball

  • Horse Racing

  • Cricket

  • Hockey

  • Others

Europe Sports Betting Regional Outlook (Revenue, USD Billion, 2018 - 2030)

  • UK

  • Germany

  • France

  • Italy

List of Key Players in the Europe Sport Betting Market

  • Bet365

  • William Hill

  • Betfair

  • Paddy Power

  • 888sport

  • Bwin

  • Unibet

  • Ladbrokes

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