Sports Betting Market Size
| Study Period | 2020 - 2030 |
| Market Size (2025) | USD 110.31 Billion |
| Market Size (2030) | USD 171.02 Billion |
| CAGR (2025 - 2030) | 7.31% |
| Fastest Growing Market | North America |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Sports Betting Market Analysis
The Sports Betting Market size is estimated at USD 110.31 billion in 2025, and is expected to reach USD 171.02 billion by 2030, at a CAGR of 7.31% during the forecast period (2025-2030).
The sports betting market is majorly driven by various factors including consumer inclination toward quick money generation, advancement in security, encryption, and streaming technology, and supportive government regulations that allow consumers to legally bet on different sports. Additionally, increasing legalization of online gambling games across the world in many regions is significantly supporting the market’s growth which is even creating more new opportunities for the companies operating in the industry. For instance, the latest state to legalize online casino play is Rhode Island, with Gov. Dan McKee signing it into law on June 20, 2023. The law became effective on March 1, 2024. Moreover, as an interesting factor, Rhode Island’s law will require all online tabletop games to have a live dealer. Such developments in support of online gambling are expected to further support the market’s growth during the forecast period.
Moreover, the availability of online sports betting services across the globe is majorly gaining popularity owing to the convenience it provides as the player can involved in the game from the comfort of their homes without having to travel to the actual place. This is especially convenient for those who are less able or unable to leave home, such as seniors and people with disabilities or illnesses. Moreover, the increased penetration of smartphones has been creating new opportunities for companies to launch mobile-based applications to target a large consumer base and companies are strategically investing in such developments which is leading to an increase in several mobile application-based lottery games. For instance, in May 2023, Rivalry Corp., an internationally regulated sports betting and media company, launched its mobile app in Ontario. Rivalry’s mobile app announced that it will allow Ontario residents to use the Company’s next-generation betting platform on their phones and wager on an extensive catalog of esports and traditional sports. Such developments coupled with an increased penetration of sports betting awareness among consumers owing to advertisement and promotional activities.
Sports Betting Market Trends
Online Segment Is Gaining A Prominent Growth Potential
The sports category predominantly drives the online betting segment, which is rapidly gaining traction due to its convenience, diverse options, and user-friendly interfaces. The increasing number of sports events nationwide further fuels this growth, offering betting enthusiasts ample opportunities. For instance, sportsvideo.org reported that in 2022, the 64 matches of the FIFA World Cup drew an average of nearly 3.59 million viewers on FOX in the U.S., a 30% uptick from 2018. As consumers prioritize convenience, there's a heightened demand for technologies that enable live sports streaming in HD quality.
These advancements not only enrich the viewing experience with interactivity but also streamline transactions, broadening the appeal of online betting. Thus, operators are keenly working to recreate the authentic betting atmosphere, utilizing techniques like card close-ups and wide-angle shots. They're also strategically eyeing the market, forming long-term partnerships, and rolling out attractive features to seize a larger market share. For instance, in July 2022, Rush Street Interactive (RSI) partnered with Grupo Multimedios to unveil its RushBet online casino and sportsbook in Mexico. Under a 25-year pact, RSI is set to oversee the nationwide operations, capitalizing on an online gambling license from a Grupo Multimedios subsidiary. The RushBet platform boasts features like live sports streaming, loyalty bonuses, a user-centric interface, swift transactions, automated withdrawal approvals, and strong customer support.
Moreover, horse racing enjoys global popularity, with many enthusiasts placing bets periodically. Its swift nature, with races concluding in 15 seconds or less, makes it ideal for quick wagering. This immediacy, coupled with the sport's fast-paced action, drives online betting interest. Furthermore, as both men and women increasingly engage in online betting, this trend is poised to bolster the segment's growth in the coming years. A survey by the Gambling Commission from November 2023 to February 2024 highlighted that 36% of adults in Great Britain engaged in online gambling recently, with males constituting 40% of that demographic.
North America Holds A Major Market Share
Sports betting is one of the rapidly growing markets in North America due to its convenience of usage and optimal user experience. With the advent of technology, there has been widespread implementation of virtual reality, blockchain, and mobile platforms in the gambling industry. Hence, vendors utilize software suppliers, such as Evolution Gaming, to integrate and develop the consumers' gaming experience. Online gambling in the United States is expanding rapidly; as of 2018, it was only permitted in a few states including Nevada, Pennsylvania, and New Jersey to operate legally, and by 2022, it was legal in many states such as West Virginia, Michigan, Delaware, and Connecticut. Additionally, in Illinois, gambling sites were launched by the end of 2023. Additionally, offline sports betting is also on the rise in the United States with the expansion of respective betting facilities across the region. Players are keen on occupying states in the region that have minimum betting facilities and are keen on grabbing fresh and loyal audiences. For instance, The Seminole Tribe of Florida launched in-person sports betting at three of its casinos in Hollywood and Coconut Creek.
Moreover, factors and initiatives that support user experience and safety are on the rise, encouraging and attracting users to bet with less risk. For instance, in March 2024, the United States’s largest online operators (FanDuel, DraftKings, BetMGM, Penn Entertainment, Fanatics Betting & Gaming, Hard Rock Digital, and bet365) formed a group dedicated to responsible gaming practices (Responsible Online Gaming Association). Furthermore, various sports betting awareness initiatives and respective launches happening in the region are expected to drive the market toward increasing sales and growth during the forecast period. For instance, in February 2024, SIS Content Services, part of the SIS (Sports Information Services) Group, the leading content supplier of 24/7 live betting services partnered with long-time operator partner Bet365 to deliver its global horse racing content to bettors in Colorado, bringing fixed-odds horse racing wagering to a licensed sports betting platform for the first time in the United States. Such developments are expected to aid the sport in attracting a wider range of casual bettors who will be offered the same type of betting as all other sports, thus supporting the market’s growth.
Sports Betting Industry Overview
The market studied is fragmented due to the strong presence of regional and global players. Key players dominate the market, including Bet365, 888 Holdings PLC, Flutter Entertainment PLC, Entain PLC, and The Stars Group. Key players compete on various factors, including offerings, user experience, brand equity, personalized payoffs, and access to multiple platforms. The key strategies adopted by the players in the market are expansions, innovations, and product launches to maintain competitiveness in the market. They also focus on mergers to increase their market stake and improve profit margins.
Sports Betting Market Leaders
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Flutter Entertainment PLC
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Bet365 Group Ltd
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Entain plc
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888 Holdings PLC
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The Stars Group
- *Disclaimer: Major Players sorted in no particular order
Sports Betting Market News
- August 2024: United Kingdom affiliate firm QiH Group launched its proprietary sports betting offering covering four distinct markets including horse racing, football, boxing, and the NFL. The launch accompanied the revamp of the affiliate’s Podium Bets brand, which is claimed to be a one-stop showcase of online sports betting operators.
- July 2024: BetMGM, a leading iGaming and sports betting operator launched mobile sports betting operations across Washington, D.C. Previously accessible within only a two-block radius of the sportsbook's location at Nationals Park. According to the company, sports fans district-wide now have access to the BetMGM sports wagering experience along with rewards tied to both MGM Resorts and Marriott Bonvoy destinations.
- June 2024: Jackpotjoy launched sports betting in the United Kingdom ahead of Euro 2024. The brand has announced the addition of a sportsbook to its website and mobile apps aimed at United Kingdom consumers.
Sports Betting Industry Segmentation
Sports betting is the activity of predicting sports results and placing a wager on the outcome. The global sports betting market is segmented based on the sport type, betting platform, and geography. By the sport type, the market is segmented into football, horse racing, tennis, and other sports betting. By betting platform, the market is segmented into online and offline. By geography, the market is segmented into North America, Europe, and rest of the world. The market sizing has been done in value terms in USD for all the above-mentioned segments.
| Sport Type | Football | ||
| Horse Racing | |||
| Tennis | |||
| Other Sport Type | |||
| Betting Platform | Online | ||
| Offline | |||
| Geography | North America | United States | |
| Canada | |||
| Mexico | |||
| Rest of North America | |||
| Europe | Germany | ||
| United Kingdom | |||
| Sweden | |||
| France | |||
| Spain | |||
| Italy | |||
| Rest of Europe | |||
| Rest of the World | Asia Pacific | ||
| South America | |||
| Middle East & Africa | |||
| Football |
| Horse Racing |
| Tennis |
| Other Sport Type |
| Online |
| Offline |
| North America | United States |
| Canada | |
| Mexico | |
| Rest of North America | |
| Europe | Germany |
| United Kingdom | |
| Sweden | |
| France | |
| Spain | |
| Italy | |
| Rest of Europe | |
| Rest of the World | Asia Pacific |
| South America | |
| Middle East & Africa |
Sports Betting Market Research FAQs
How big is the Sports Betting Market?
The Sports Betting Market size is expected to reach USD 110.31 billion in 2025 and grow at a CAGR of 7.31% to reach USD 171.02 billion by 2030.
What is the current Sports Betting Market size?
In 2025, the Sports Betting Market size is expected to reach USD 110.31 billion.
Who are the key players in Sports Betting Market?
Flutter Entertainment PLC, Bet365 Group Ltd, Entain plc, 888 Holdings PLC and The Stars Group are the major companies operating in the Sports Betting Market.
Which is the fastest growing region in Sports Betting Market?
North America is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Sports Betting Market?
In 2025, the Europe accounts for the largest market share in Sports Betting Market.
What years does this Sports Betting Market cover, and what was the market size in 2024?
In 2024, the Sports Betting Market size was estimated at USD 102.25 billion. The report covers the Sports Betting Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Sports Betting Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Sports Betting Industry Report
Statistics for the 2025 Sports Betting market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Sports Betting analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
