Market Size of Online Sports Betting Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 48.17 Billion |
| Market Size (2029) | USD 83.58 Billion |
| CAGR (2024 - 2029) | 11.65 % |
| Fastest Growing Market | North America |
| Largest Market | Europe |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
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Online Sports Betting Market Analysis
The Online Sports Betting Market size is estimated at USD 48.17 billion in 2024, and is expected to reach USD 83.58 billion by 2029, growing at a CAGR of 11.65% during the forecast period (2024-2029).
Sports betting involves gambling by predicting the outcome of a game and placing a wager. It is popular in various sports, including cricket, football, and horse racing. The proliferation of the internet is expected to drive advancements in the sports betting industry. European football generates the most revenue in online betting sports, with baseball trailing closely behind. The increasing popularity of online sports has revolutionized the methods of sports betting. However, numerous countries prohibit sports betting, which significantly hinders the expansion of the sports betting market. However, relaxation in the regulation framework of betting and gambling activities by governments worldwide is anticipated to provide favorable opportunities for betting operators. For instance, in 2023, as per the American Gaming Association in the United States, sports betting was legally permitted in 36 states, an increase from 32 in 2021. Within the first ten months of 2022, sports bettors in the United States legally wagered approximately USD 73 billion.
