The global sports betting market size is estimated to reach USD 187.39 billion by 2030, registering a CAGR of 11% from 2025 to 2030, according to a new report by Grand View Research, Inc. This growth of the market is driven by the proliferation of internet infrastructure and evolving regulatory landscape of the entire gambling industry across the world. In addition, the increase in the number of sports events and leagues worldwide such as the NFL, FIFA World Cup, Carabao Cup, and UEFA Europa League has positively influenced the growth of the market. Furthermore, an increase in disposable income and the rising usage of AI and blockchain technologies to improve the prediction algorithms in betting software are likely to boost the growth of the market during the forecast period.
Esports, which is an organized, multiplayer video game competition, played by professional players, individuals, or teams, has gained massive popularity during the COVID-19 pandemic and witnessed a surge in the number of events worldwide. Market players are utilizing the increased number of esports events to offer an opportunity for their customers to bet on such esports competitions and earn extra income. The surge in online sports events backed up by a rise in the number of esports tournaments offers stable growth opportunities for the betting industry. For instance, according to the report by the U.K. Gambling Commission, there was a huge 2922% year-on-year rise in esports betting revenue from March 2019 to March 2020.
Major players in the global betting industry now operate via official websites and online platforms to cater to the increased demand for sports betting. Additionally, the market players are expanding their presence across countries with supportive regulatory compliance. For instance, in December 2021, Unikrn Inc., a global esports betting & entertainment media company introduced its betting platform in Canada and Brazil. In addition to this launch, the company has further announced to increase its presence across a greater number of regulated markets in 2023.
The lives of multiple households around the globe have been affected during the COVID-19 pandemic. In addition, this situation led to the cancellation of worldwide sports matches and the closure of land-based casinos and betting shops. However, the pandemic expanded the online sports betting industry due to the rise of esports and virtual sporting events. The popularity of online sports betting increased during the pandemic with an upsurge in the number of betting participants. For instance, according to a study conducted by Public Health England, online casino gambling had seen growth by nearly 9.0% during the pandemic. Furthermore, as per the GB Gambling Commission survey, betting habits among people have changed due to Covid-19, with mobile devices continuing to be the most popular medium for gambling. The survey also found a massive inclination towards esports betting across the globe.
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The offline segment accounts for a significant revenue share in the sports betting industry in 2024, particularly in regions with a mature gambling infrastructure such as Europe and Australia.
Based on the sports type football segment dominated the sports betting market, holding the largest share due to its vast international fan base and the continuous presence of domestic and international tournaments.
Live/In-Play Betting emerged as the leading segment in the sports betting market in 2024, thanks to its real-time and interactive nature.
Europe sports betting market accounts for the largest revenue share of around 48% in 2024. The sports betting market in Europe is continually evolving, bolstered by established regulations in several countries and increasing digital engagement.
Grand View Research has segmented the global Sports Betting market on the basis of platform, betting type, sports type, and region:
Sports Betting Platform Outlook (Revenue, USD Million, 2018 - 2030)
Online
Offline
Sports Betting Betting Type Outlook (Revenue, USD Million, 2018 - 2030)
Fixed Odds Wagering
Exchange Betting
Live/In-Play Betting
eSports Betting
Others
Sports Betting Sports Type Outlook (Revenue, USD Million, 2018 - 2030)
Football
Basketball
Baseball
Horse Racing
Cricket
Hockey
Others
Sports Betting Regional Outlook (Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Mexico
Europe
Germany
UK
Italy
Spain
Sweden
Asia Pacific
China
India
Australia
New Zealand
Latin America
Brazil
Middle East and Africa (MEA)
Türkiye
South Africa
List of Key Players of Sports Betting Market
888 Holdings Plc
Bet365
Betsson AB
Churchill Downs Incorporated
Entain plc
Flutter Entertainment Plc
IGT
Kindred Group Plc
Sportech Plc
William Hill Plc
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