Global Sports Betting Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

• In October 2023: Bet365 signed a multi-year partnership with the NBA to become its official sports betting partner in the U.S., marking a key move towards deeper integration of sports betting with mainstream sports

• In February 2024: FanDuel expanded its operations in Canada, leveraging the legalization of sports betting in several provinces to increase market share. This move is expected to create significant competition within the North American sports betting market

The global sports betting market is a dynamic and rapidly expanding industry that has witnessed significant growth in recent years. With the proliferation of online betting platforms and the increasing popularity of sports events worldwide, the market has become increasingly competitive and diverse. Technological advancements, such as mobile betting apps and live streaming services, have also contributed to the market's expansion, enabling users to place bets conveniently and access real-time information on sporting events from anywhere in the world.

One key driver of growth in the global sports betting market is the legalization of sports betting in various jurisdictions. As more countries and states legalize and regulate sports betting activities, it opens up new opportunities for operators to enter the market and expand their customer base. Additionally, the growing acceptance of sports betting as a form of entertainment and the normalization of gambling in mainstream culture have contributed to increased participation and spending in the market.

The emergence of new betting formats and innovative products has further fueled the growth of the global sports betting market. From in-play betting and virtual sports to esports betting, operators are constantly introducing new offerings to cater to the diverse preferences of consumers. This diversification not only attracts new customers but also enhances user engagement and retention, driving revenue growth in the industry. Overall, with favorable regulatory trends, technological innovations, and evolving consumer preferences, the global sports betting market is poised for continued expansion in the coming years.

Global Sports Betting Segment Analysis

In this report, the Global Sports Betting Market has been segmented by Platform, Type, Sports Type and Geography.

Global Sports Betting Market, Segmentation by Platform

The Global Sports Betting Market has been segmented by Platform into Online and Offline.

One of the key factors driving this growth is the segmentation of the market based on platforms, primarily into online and offline categories. The online segment has emerged as the dominant force in the market, owing to factors such as convenience, accessibility, and the proliferation of smartphones and internet connectivity. Online platforms offer users the ability to place bets from the comfort of their homes or on the go, with a wide range of sports events and betting options available at their fingertips.

The offline segment, while still significant, has seen a gradual decline in market share as more bettors migrate towards online platforms. Traditional brick-and-mortar establishments like betting shops and casinos still attract a loyal customer base, particularly in regions where online betting may be restricted or less accessible. However, these offline venues are increasingly investing in integrating digital technologies to enhance the betting experience and stay competitive in the evolving market landscape.

The segmentation of the Global Sports Betting Market by platform reflects the changing preferences and behaviors of bettors worldwide. While offline channels continue to hold relevance, the online segment is expected to drive the market's growth trajectory in the coming years, propelled by factors such as technological innovation, regulatory reforms, and the expanding reach of digital platforms across various regions.

Global Sports Betting Market, Segmentation by Type

The Global Sports Betting Market has been segmented by Type into Line-In-Play, Fixed Old Betting, Exchange Betting, Daily Fantasy, Spread Betting, E-sports, Pari-Mutuel and Others.

One of the key segments in this market is Line-In-Play betting, where individuals can place bets on sports events while the game is in progress, allowing for real-time engagement and dynamic wagering. This form of betting has gained traction due to the thrill it offers and the convenience of being able to place bets during live matches.

Fixed Odds Betting, another prominent segment, involves placing bets on predetermined odds before an event begins. This traditional form of betting remains popular, particularly in established markets like horse racing and football. Exchange betting, on the other hand, enables individuals to bet against each other rather than against a bookmaker, providing greater flexibility and often better odds.

Emerging segments such as Daily Fantasy Sports and E-sports betting have seen rapid growth, capitalizing on the increasing popularity of fantasy sports leagues and competitive gaming. These segments offer unique opportunities for sports enthusiasts to engage with their favorite games in new ways, further diversifying the sports betting landscape. Other segments like Spread Betting, Pari-Mutuel, and miscellaneous options contribute to the market's overall dynamism, catering to a wide range of preferences among bettors worldwide. As technology continues to evolve and regulations shift, the global sports betting market is poised for further expansion and innovation in the coming years.

Global Sports Betting Market, Segmentation by Sports Type

The Global Sports Betting Market has been segmented by Sports Type into Football, Baseball, Basketball, Hockey, Cricket, Tennis, Golf, Boxing, Horse Riding, Auto Racing and Others.

The global sports betting market has witnessed remarkable growth in recent years, fueled by the increasing popularity of various sports and the widespread availability of online betting platforms. This market has been segmented by sports type to cater to the diverse preferences of bettors worldwide. Among the major segments are football, which remains the most popular sport for betting enthusiasts due to its global appeal and numerous leagues and tournaments. Additionally, baseball, basketball, and hockey are prominent segments, especially in regions like North America where these sports enjoy significant fanbases and betting activity.

Cricket, tennis, and golf also command substantial attention in the sports betting market, with a dedicated following in regions such as Asia, Europe, and Australia. These sports offer a wide array of events throughout the year, attracting both casual and serious bettors alike. Boxing, horse racing, and auto racing represent niche segments within the sports betting market, appealing to fans who seek excitement and unpredictability in their wagers. Finally, the "Others" category encompasses a variety of sports and events that may not fall under the major segments but still attract betting interest. Overall, the segmentation of the global sports betting market by sports type reflects the diverse landscape of sports preferences worldwide, providing ample opportunities for both industry stakeholders and betting enthusiasts.

Global Sports Betting Market, Segmentation by Geography

In this report, the Global Sports Betting Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Global Sports Betting Market Share (%), by Geographical Region, 2024

The global sports betting market has experienced significant growth in recent years, driven by a combination of technological advancements, changing regulatory landscapes, and increasing consumer interest in sports. With the proliferation of online betting platforms, punters now have easier access to a wide range of sports events and betting options, contributing to the expansion of the market. North America, particularly the United States, has emerged as a lucrative region for sports betting, fueled by the legalization of sports wagering in several states and the growing popularity of major leagues such as the NFL, NBA, and MLB.

In Europe, sports betting is deeply ingrained in the culture, with a strong tradition of wagering on various sports events. The region boasts a diverse market landscape, with established operators and regulatory frameworks in countries like the United Kingdom, as well as emerging markets in Eastern Europe. Asia Pacific presents immense opportunities for growth, driven by the rising disposable incomes, increasing internet penetration, and a growing passion for sports across countries like China, Japan, and India. However, regulatory complexities and cultural attitudes towards gambling pose challenges in certain jurisdictions.

The Middle East and Africa, along with Latin America, represent regions with evolving sports betting markets. While regulatory restrictions and socio-cultural factors influence the adoption of sports betting in these regions, there is a growing interest among both operators and consumers. Overall, the global sports betting market continues to evolve dynamically, with geographic segmentation reflecting diverse regulatory environments, cultural preferences, and market maturity levels.

This report provides an in depth analysis of various factors that impact the dynamics of Global Sports Betting Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers:

• Growing Popularity of Sports Events
• Technological Advancements
• Regulatory Reforms
• Rising Disposable Incomes

• Expansion of Online Platforms: The global sports betting market has witnessed a significant expansion in recent years, fueled by the proliferation of online platforms and the increasing accessibility of betting opportunities. The advent of digital technology has revolutionized the industry, allowing enthusiasts from all corners of the globe to engage in sports wagering conveniently from their computers or mobile devices. Online platforms offer a wide array of betting options across various sports disciplines, ranging from traditional favorites like football and basketball to niche markets such as eSports and virtual sports. This diversification of offerings has attracted a broader audience, including casual bettors and seasoned professionals alike, contributing to the market's exponential growth.

  The rise of online platforms has facilitated the integration of innovative features and functionalities, enhancing the overall user experience and engagement levels. These platforms leverage advanced algorithms and data analytics to provide personalized recommendations, real-time odds updates, and interactive betting formats, fostering a dynamic and immersive environment for users. Additionally, the seamless integration of payment systems and stringent security measures have bolstered trust and confidence among bettors, further driving the adoption of online sports betting. As regulatory frameworks continue to evolve and more jurisdictions legalize betting activities, the global sports betting market is poised for continued expansion, with online platforms playing a pivotal role in shaping its trajectory.

Restraints:

• Regulatory Environment
• Technological Advancements
• Market Competition
• Consumer Behavior and Demographics

• Integration with Sports Industry: The global sports betting market has experienced remarkable growth in recent years, fueled by technological advancements, changing regulations, and increasing acceptance of sports betting as a mainstream form of entertainment. With the proliferation of online betting platforms, enthusiasts can now easily place bets on a wide array of sports events from the comfort of their homes or on the go via mobile devices. Moreover, the legalization of sports betting in several jurisdictions has opened up new opportunities for operators and investors, leading to a surge in market competition and innovation. As a result, the sports betting industry has become a multi-billion-dollar market, attracting investment from both traditional gambling companies and tech-savvy startups eager to capitalize on the growing demand for sports wagering.

  The integration of technology into the sports betting experience has been a game-changer, offering bettors more convenience, variety, and real-time information than ever before. Data analytics, artificial intelligence, and machine learning algorithms are increasingly being employed to analyze player performance, predict match outcomes, and personalize betting recommendations for users. Furthermore, partnerships between sports leagues, teams, and betting operators have become more common, as stakeholders seek to leverage each other's strengths to enhance fan engagement and revenue streams. As the sports betting landscape continues to evolve, with emerging markets such as esports betting gaining traction, the industry is poised for further expansion and innovation, presenting both challenges and opportunities for stakeholders across the sports ecosystem.

Opportunities:

• Regulatory Constraints
• Social Stigma
• Legal Challenges
• Competitive Landscape

• Match-fixing and Integrity Concerns: The global sports betting market has experienced exponential growth over the past decade, fueled by technological advancements and the widespread legalization of sports betting in various regions. This expansion has led to an increase in the volume and variety of bets placed on sporting events across the world. With billions of dollars wagered annually, the market has become a significant economic force within the sports industry. However, this rapid growth has also raised concerns about integrity, particularly regarding match-fixing and other forms of corruption. The immense financial stakes involved in sports betting can create incentives for individuals, including athletes, coaches, and officials, to engage in unethical behavior to manipulate the outcome of games for personal gain, posing serious threats to the integrity of sports competitions.

  Efforts to address integrity concerns in the global sports betting market have included the implementation of regulations, monitoring systems, and collaborative initiatives between sports organizations, law enforcement agencies, and betting operators. These measures aim to detect and deter match-fixing and other illicit activities by enhancing transparency, conducting investigations, and imposing sanctions on those found to be involved in wrongdoing. Additionally, education and awareness campaigns have been launched to inform athletes, fans, and other stakeholders about the risks associated with sports betting and the importance of upholding fair play and ethical standards in sports. Despite these efforts, the evolving nature of the sports betting landscape presents ongoing challenges, requiring continued vigilance and cooperation to preserve the integrity and credibility of sports worldwide.

Key players in Global Sports Betting Market include:

• 888 Holdings PLC
• GVC Holdings PLC
• Kindred Group
• Paddy Power Betfair PLC
• William Hill PLC
• Bet365 Group Ltd.
• The Stars Group Inc.
• DraftKings
• Betsson AB
• BetAmerica

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis