Sports Betting Market Trends, Growth Drivers, CAGR Status, Demand and Opportunities
Sports Betting Market Size- By Platform, By Betting Type, By Sports Type -Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Jan-2025 | Report ID: IACT2506 | Pages: 1 - 246 | Formats*: |
| Category : Information & Communications Technology | |||
Sports Betting Market Introduction and Overview
According to SPER Market Research, the Global Sports Betting Market is estimated to reach USD 243.95 billion by 2034 with a CAGR of 8.85%.
The global sports betting market was fueled by a number of factors, such as the growth of digital infrastructure, the proliferation of connected devices, and a substantial change in the global gambling legal environment. The global sports industry has been greatly impacted by the COVID-19 pandemic, which has limited athletic participation worldwide. However, as Sports and other betting activities increased throughout the pandemic, online sports betting became more and more popular. Additionally, the global market has grown as a result of the increasing availability and accessibility of sports betting brought about by the growing use of smartphones.
Recent Developments:
- In September 2022: Bet365's e-sports betting service was launched in Colorado. Using one of Century Casinos' state master licenses, the sports book provider was able to launch its betting service on the market.
- In May 2022: William Hill, a sports betting and online casino administrator, launched its main brand and declared aspirations to significantly increase revenue in Latvia. Furthermore, William Hill intends to leverage on current media partnerships with bespoke creatives using the Brotherhood brand approach.
By Platform: In terms of platform, the online platform led the sports betting market in 2022. The sector is predicted to grow at a CAGR of more than XX% and maintain its dominance during the forecast period. The ubiquity of smartphones and the expansion of internet infrastructure around the world have contributed to the segment's rise.
By Betting Type: In 2022, the fixed odds wagering category led the sports betting market by betting type, with a largest revenue share. During the projection period, the eSports betting market is anticipated to expand at the quickest CAGR. Datar portal estimates that xx of people worldwide have internet connection. Most consumers who have internet connection are actively looking for additional revenue in addition to entertainment, and they are participating in recreational activities like sports betting. Additionally, eSports is expected to present profitable potential for eSports betting operators as more people engage in competitive eSports contests for amusement and financial gain.
By Sports Type: Football held a market share of more than XX% in 2022. Following football, the horse-racing segment held the second-largest market share in 2022, expanding at a CAGR of more than XX% over the projection period.The growing number of annual events hosted by sports leagues such as the NFL, IPL, and EFL, among others, is a major element driving industry growth.
By Region: Europe held the greatest market share of more than 35% in 2022. The region is expected to grow at a CAGR of about xx over the projection period. European countries' restrictions on the sports betting/gambling sector are favorable to their populations. For example, sports betting has been legalized in the United Kingdom since 1960, and the country has some of the most established legislation allowing legal sports betting. Due to restrictions on offline/retail betting, the online sports betting category grew significantly in Europe, reaching a market value of more than USD XX billion by the end of the projection period.
Market Competitive Landscape:
The Global Sports Betting Market is highly consolidated. Some of the market players are Bet365,BetssonAB,ChurchillDownsIncorporated,Entain Plc., Flutter Entertainment Plc., 88 Holdings Plc. ,IGT, Kindred Group Plc., Sportech Plc., William Hill Plc. and others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Platform, By Betting Type, By Sports Type. |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe. |
| Companies Covered | Bet365,BetssonAB,ChurchillDownsIncorporated,Entain Plc., Flutter Entertainment Plc., 88 Holdings Plc. ,IGT, Kindred Group Plc., Sportech Plc., William Hill Plc. |
Key Topics Covered in the Report:
- Global Sports Betting Market Size (FY’2021-FY’2034)
- Overview of Global Sports Betting Market
- Segmentation of Global Sports Betting Market By Platform (Offline and Online)
- Segmentation of Global Sports Betting Market By Betting Type (Fixed Odds Wagering ,Exchange Betting, Live/In-Play Betting, E Sports Betting, Others)
- Segmentation of Global Sports Betting Market By Sports Type (Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, Others)
- Statistical Snap of Global Sports Betting Market
- Expansion Analysis of Global Sports Betting Market
- Problems and Obstacles in Global Sports Betting Market
- Competitive Landscape in the Global Sports Betting Market
- Details on Current Investment in Global Sports Betting Market
- Competitive Analysis of Global Sports Betting Market
- Prominent Players in the Global Sports Betting Market
- SWOT Analysis of Global Sports Betting Market
- Global Sports Betting Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPERs internal database2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Sports Betting Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Sports Betting Market
7. Global Sports Betting Market, By Platform (USD Million) 2021-2034
7.1. Offline7.2. Online
8. Global Sports Betting Market, By Betting Type (USD Million) 2021-2034
8.1. Fixed Odds Wagering8.2. Exchange Betting8.3. Live/In-Play Betting8.4. E Sports Betting8.5. Others
9. Global Sports Betting Market, By Sports Type (USD Million) 2021-2034
9.1. Football9.2. Basketball9.3. Baseball9.4. Horse Racing9.5. Cricket9.6. Hockey9.7. Others
10. Global Sports Betting Market (USD Million) 2021-2034
10.1. Global Sports Betting Market Size and Market Share
11. Global Sports Betting Market, By Region, (USD Million) 2021-2034
11.1. Asia-Pacific
11.1.1. Australia11.1.2. China11.1.3. India11.1.4. Japan11.1.5. South Korea11.1.6. Rest of Asia-Pacific
11.2. Europe
11.2.1. France11.2.2. Germany11.2.3. Italy11.2.4. Spain11.2.5. United Kingdom11.2.6. Rest of Europe
11.3. Middle East and Africa
11.3.1. Kingdom of Saudi Arabia11.3.2. United Arab Emirates11.3.3. Qatar11.3.4. South Africa11.3.5. Egypt11.3.6. Morocco11.3.7. Nigeria11.3.8. Rest of Middle-East and Africa
11.4. North America
11.4.1. Canada11.4.2. Mexico11.4.3. United States
11.5. Latin America
11.5.1. Argentina11.5.2. Brazil11.5.3. Rest of Latin America
12. Company Profile
12.1. Bet365
12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments
12.2. Betsson AB
12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments
12.3. Churchill Downs Incorporated
12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments
12.4. Entain Plc.
12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments
12.5. Flutter Entertainment Plc.
12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments
12.6. IGT
12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments
12.7. 888 Holdings Plc.
12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments
12.8. Kindred Group Plc.
12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments
12.9. Sportech Plc.
12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments
12.10. William Hill Plc.
12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments
12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Sports Betting Market is projected to reach USD 243.95 billion by 2034, growing at a CAGR of 8.85% during the forecast period.
Sports Betting Market grew in Market size from 2025. The Market is expected to reach USD 243.95 billion by 2034, at a CAGR of 8.85% during the forecast period.
Sports Betting Market CAGR of 8.85% during the forecast period.
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Sports Betting Market size is USD 243.95 billion from 2025 to 2034.
Sports Betting Market is covered By Platform, By Betting Type, By Sports Type.
The North America is anticipated to have the highest Market share in the Sports Betting Market.
The key players in the Market include Companies Covered Bet365,BetssonAB,ChurchillDownsIncorporated,Entain Plc., Flutter Entertainment Plc., 88 Holdings Plc. ,IGT, Kindred Group Plc., Sportech Plc., William Hill Plc. And Others.
Additionally, the global market has grown as a result of the increasing availability and accessibility of sports betting brought about by the growing use of smartphones.
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