Mon. Jan 13th, 2025
Online Sports Betting Market

In 2024, the online sports betting market was valued at approximately USD 66.91 billion, and it is projected to grow at a compound annual growth rate (CAGR) of 10.2% between 2025 and 2034. By 2034, the market is anticipated to reach a value of USD 163.42 billion. This blog will explore the online sports betting market’s overview, trends, growth drivers, competitor landscape, and future forecasts.

Online Sports Betting Market Overview

Online sports betting refers to the practice of placing wagers on various sports and events through the internet. This market includes a wide range of sports, such as football, basketball, baseball, tennis, cricket, and esports, among others. The industry has flourished with the increasing availability of mobile devices, internet penetration, and the legalization of sports betting in several regions. Sports betting platforms offer a variety of betting options, including live betting, fixed-odds betting, and pari-mutuel betting, giving users diverse ways to engage with their favorite sports.

The global acceptance of online betting, coupled with innovative technologies such as mobile apps, in-play betting, and virtual reality experiences, is transforming the way consumers engage with sports and gambling. The market is expected to continue expanding as more jurisdictions regulate and legalize online sports betting.

Online Sports Betting Market Size

As of 2024, the online sports betting market was valued at approximately USD 66.91 billion. The market is experiencing rapid growth and is projected to expand at a CAGR of 10.2% from 2025 to 2034. By 2034, the market size is expected to reach USD 163.42 billion. This growth is driven by the increasing adoption of online betting platforms, the expansion of legal frameworks in different regions, and the growing acceptance of digital payment systems, which make betting more accessible and secure.

Online Sports Betting Market Trends

Increasing Mobile Betting: The rising use of smartphones and mobile apps is one of the key trends in the online sports betting market. Mobile platforms allow users to place bets on-the-go, access live betting opportunities, and view real-time game statistics. This convenience has significantly boosted the adoption of online sports betting.

Live and In-Play Betting: Live betting, which allows users to place bets during an ongoing sports event, has become increasingly popular. Real-time odds and dynamic betting options have revolutionized the sports betting experience, attracting more participants and increasing engagement on online platforms.

Expansion of Esports Betting: Esports betting is one of the fastest-growing segments within the online sports betting market. The rise of competitive gaming has led to the creation of specialized betting platforms for esports, drawing in a younger audience and expanding the market.

Legalization and Regulation: The legalization of online sports betting in various regions, including the U.S. and parts of Europe, is a key trend that has propelled market growth. Governments are introducing regulatory frameworks that ensure a secure and transparent betting environment, which boosts consumer confidence and attracts new participants.

Integration of Blockchain and Cryptocurrency: The adoption of blockchain technology and cryptocurrencies in the online sports betting market is also gaining traction. These technologies offer secure, anonymous, and fast transactions, which appeal to users seeking privacy and transparency.

Online Sports Betting Market Segmentation

Betting Type
Fixed Odds Wagering
Live/In-Play Betting

Sports Type

Football
Cricket
Basketball
Baseball
Horse Racing
E-Sports
Others

Device

Desktop
Mobile

Region

North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

Get a Sample Report with Table of Contents

Online Sports Betting Market Growth

The online sports betting market is experiencing robust growth, driven by several factors:

Technological Advancements: The increasing use of mobile devices, live streaming, and innovative betting technologies has enhanced the user experience, making it easier for people to engage with sports betting platforms.

Growing Popularity of Sports and Esports: As the popularity of traditional sports and esports continues to rise globally, the online sports betting market is benefiting from an expanding fan base. The availability of multiple betting markets and formats has further encouraged the adoption of online betting platforms.

Legalization in Key Markets: The legalization of online sports betting in several countries, including the United States, has been a significant growth driver. As more regions regulate the industry, the market’s potential expands, attracting new users and investments.

Rise in Disposable Income: Growing disposable incomes, particularly in emerging economies, have contributed to the increased spending on entertainment, including sports betting. Consumers in these regions are more willing to participate in online betting, further fueling market growth.

Globalization of Sports Events: Major international sports events, such as the FIFA World Cup, the Olympics, and the UEFA Champions League, attract millions of bettors from around the world. Online platforms enable users to place bets on these global events, significantly boosting market revenue.

Online Sports Betting Market Forecast

The online sports betting market is expected to grow at a CAGR of 10.2% between 2025 and 2034. By 2034, the market size is anticipated to reach USD 163.42 billion. This growth will be driven by increasing digital engagement, the expansion of legal markets, and the rise in consumer demand for secure, efficient, and exciting betting experiences.

Competitor Analysis

Key players in the online sports betting market include:

888 Holdings Plc: 888 Holdings is a prominent operator in the online gambling and sports betting space, offering a range of betting options, including traditional sports, casino games, and poker. The company has a global presence and is expanding into regulated markets.

Tabcorp Group: An Australian leader in the sports betting and gaming sector, Tabcorp operates several popular sports betting platforms, providing a wide range of betting markets, live streaming, and mobile apps for users.

Wynn Resorts, Limited: Wynn Resorts is a well-known brand in the entertainment and gambling industry, with a strong online presence through its WynnBET platform. The company is focused on expanding its sports betting offerings in regulated markets.

Entain PLC: Entain, formerly known as GVC Holdings, is a major player in the online gambling and sports betting market, operating well-known brands like bwin, Coral, and Ladbrokes. The company offers a comprehensive range of betting products across various regions.

Others: Other notable players in the market include Bet365, DraftKings, FanDuel, and Paddy Power Betfair, among many others. These companies compete by offering innovative products, enhanced user experiences, and expanding into new markets.

Media Contact:

Company Name: Claight Corporation
Contact Person: Emily Jacks, Business Consultant
Email: sales@expertmarketresearch.com
Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: www.expertmarketresearch.com

Leave a Reply