Market Overview:

The sports betting market is experiencing rapid growth, driven by widespread smartphone and internet access, legalization and regulatory changes, and rising popularity of sports and events. According to IMARC Group's latest research publication, “Sports Betting Market Size, Share, Trends and Forecast by Platform, Betting Type, Sports Type, and Region, 2025-2033”, The global sports betting market size was valued at USD 103.08 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 224.12 Billion by 2033, exhibiting a CAGR of 8.56% from 2025-2033.

This detailed analysis primarily encompasses industry size, business trends, market share, key growth factors, and regional forecasts. The report offers a comprehensive overview and integrates research findings, market assessments, and data from different sources. It also includes pivotal market dynamics like drivers and challenges, while also highlighting growth opportunities, financial insights, technological improvements, emerging trends, and innovations. Besides this, the report provides regional market evaluation, along with a competitive landscape analysis.

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Our report includes:

• Market Dynamics
• Market Trends And Market Outlook
• Competitive Analysis
• Industry Segmentation
• Strategic Recommendations

Growth Factors Driving the Sports Betting Industry

• Widespread Smartphone and Internet Access:

The explosion of smartphone usage and internet access is a major driver for the sports betting industry. With over 4.8 billion internet users globally, betting platforms are now accessible to a massive audience via mobile apps and websites. This ease of access lets users bet anytime, anywhere, boosting participation, especially among younger, tech-savvy crowds. For example, in the U.S., mobile betting accounts for nearly 90% of sports wagers, with states like New York reporting over $1.6 billion in mobile betting handle in just one month after legalization. Secure digital payment systems, like mobile money services, further simplify transactions, making betting seamless. This digital shift has opened up markets in regions like Asia-Pacific, where growing middle classes and internet penetration fuel demand.

• Legalization and Regulatory Changes:

The legalization of sports betting in various regions is unlocking new markets and driving growth. In the U.S., 38 states and Washington D.C. have legalized some form of sports betting since the 2018 Supreme Court decision to repeal PASPA, generating millions in tax revenue. Brazil also passed legislation to regulate online betting, attracting global operators like Bet365. These frameworks build consumer trust by ensuring safer betting environments, shifting users from illegal platforms to regulated ones. In Europe, countries like the UK and France have established rules that reduce fraud, boosting market confidence. Legalization also creates jobs and adds to GDP, with the American Gaming Association estimating $8 billion in local taxes from legal betting, encouraging more governments to embrace regulated sports betting.

• Rising Popularity of Sports and Events:

The global love for sports, especially football, basketball, and emerging esports, is a huge growth factor. Football alone dominates betting markets due to its massive fan base, with events like the FIFA World Cup and UEFA Champions League drawing millions of bettors. In the U.S., the NFL and NBA drive significant wagering, with basketball's fast-paced games ideal for real-time bets. The rise of esports, fueled by platforms like Twitch, has also expanded betting opportunities, with games like League of Legends attracting younger audiences. Sportsbooks capitalize on this by offering promotions tied to major events, boosting engagement. For instance, betting volumes spike during events like March Madness, where operators use dynamic odds and analytics to keep bettors hooked, fueling industry growth.

Trends in the Global Sports Betting Market

• Surge in Live and In-Play Betting:

Live betting, where users wager during ongoing matches, is reshaping the sports betting market. Its real-time, interactive nature keeps bettors engaged, with platforms offering dynamic odds based on game developments. In 2024, live betting led the market in revenue, especially for sports like football and basketball, where fast-paced action fuels bets on outcomes like the next goal or point. For example, FanDuel's partnerships with major U.S. networks integrate live odds into broadcasts, enhancing viewer engagement. This trend thrives on mobile apps, with features like cash-out options and real-time analytics. In Europe, where 48% of betting revenue comes from, live betting's popularity is tied to its ability to make watching sports more thrilling, driving user retention.

• Integration with Media and Entertainment:

Sports betting is blending with media, creating immersive experiences for fans. Sportsbooks like ESPN Bet collaborate with broadcasters to embed betting features into live sports streams, offering real-time odds and second-screen experiences. This trend boosts engagement by combining betting with sports content consumption. For instance, DraftKings reported a 20% revenue increase to $1.41 billion in a single quarter, partly due to media partnerships that attract 4.3 million monthly unique players. In the UK, stricter regulations from the UK Gambling Commission have pushed operators to innovate with media tie-ins to maintain trust and engagement. This convergence appeals to younger audiences, who expect seamless, interactive platforms, making it a key driver for market expansion.

• Growth of Esports Betting:

Esports betting is booming as competitive gaming gains mainstream traction. Platforms like YouTube Gaming and Twitch have made games like Dota 2 and Counter-Strike global phenomena, attracting younger bettors familiar with digital interfaces. In 2024, esports betting emerged as a fast-growing segment, driven by organized tournaments and sponsorships. For example, Bet365's expansion into Colorado included esports betting options, tapping into the state's growing digital audience. The Asia-Pacific region, with its tech-savvy youth and events like the Chinese Super League, is a hotspot for this trend. Operators use AI-driven analytics to offer tailored odds, enhancing user experiences. As esports viewership grows, this trend is set to capture a larger share of the betting market.

We explore the factors driving the growth of the market, including technological advancements, consumer behaviors, and regulatory changes, along with emerging sports betting market trends.

Leading Companies Operating in the Global Sports Betting Industry:

• 888 Holdings PLC
• Bet365 Group Ltd.
• Bet-at-home.com AG (BetClic Everest Group S.A.S.)
• Betfred USA Sports
• Betsson AB
• DraftKings Inc.
• Entain plc
• Flutter Entertainment plc
• International Game Technology PLC
• Kindred Group plc
• Sportech PLC
• TwinSpires (Churchill Downs Incorporated)

Sports Betting Market Report Segmentation:

Breakup By Platform:

• Offline
• Online

Online exhibits a clear dominance in the market due to its convenience, accessibility, and real-time betting options available to users worldwide.

Breakup By Betting Type:

• Fixed Odds Wagering
• Exchange Betting
• Live/In Play Betting
• Pari-Mutuel
• eSports Betting
• Others

Fixed odds wagering represents the largest segment as it offers straightforward odds that appeal to both novice and experienced bettors looking for predictable returns.

Breakup By Sports Type:

• Football
• Basketball
• Baseball
• Horse Racing
• Cricket
• Hockey
• Others

Football holds the biggest market share driven by its global fanbase and numerous leagues and events, which create extensive betting opportunities.

Breakup By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Asia Pacific dominates the market attributed to established regulations, a high concentration of sports fans, and widespread online betting infrastructure.

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IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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