The online sports betting market has become a rapidly growing industry, driven by the increasing popularity of digital platforms and sports events worldwide. It encompasses a wide range of activities, from betting on traditional sports like football, basketball, and horse racing, to esports and virtual sports betting. The global reach of online platforms allows users from various regions to participate in sports betting, expanding the market’s audience.
The rise of mobile technology, increased internet penetration, and shifting consumer behaviors toward digital entertainment have all contributed to the booming online sports betting market. Moreover, the regulatory landscape is evolving, with several countries legalizing and regulating online sports betting, which further boosts its growth.
Online Sports Betting Market Size
The online sports betting market is estimated to have reached approximately USD 66.91 billion in 2024. With a robust compound annual growth rate (CAGR) of 10.2% between 2025 and 2034, the market is projected to increase in value significantly, reaching USD 163.42 billion by 2034. This remarkable growth is attributed to several key factors, including the increasing adoption of smartphones, the legalization of online betting in several countries, and the growing number of sports enthusiasts engaging with betting platforms.
As the market grows, there is an increasing demand for innovative platforms, enhanced user experience, and diverse betting options, which further fuels the expansion of the industry.
Online Sports Betting Market Trends
Mobile Betting Surge: The growing adoption of mobile devices is one of the leading trends driving the online sports betting market. Mobile applications and websites are providing users with convenient access to sports betting platforms anytime and anywhere. As mobile technology continues to advance, the accessibility and user experience will continue to improve.
Increased Legalization and Regulation: More regions are legalizing online sports betting, providing operators with opportunities to tap into new markets. Governments worldwide are recognizing the revenue potential of regulated sports betting markets, which is helping foster growth and create a more transparent and secure environment for bettors.
Integration of AI and Data Analytics: Artificial intelligence (AI) and data analytics are increasingly being used by online betting platforms to enhance the user experience. AI helps with personalized recommendations, odds predictions, and fraud detection, while data analytics provide insights into betting patterns, preferences, and customer behavior.
Expansion into Esports Betting: Esports betting is one of the fastest-growing segments within the online sports betting market. As esports gain in popularity, particularly among younger demographics, more platforms are integrating esports as a betting category, offering various betting options for games like League of Legends, Counter-Strike, and Fortnite.
Live and In-Play Betting: Live betting, or in-play betting, allows bettors to place wagers during the course of a live event. This trend has gained traction as it provides a more engaging and interactive experience for users, allowing them to place real-time bets based on the unfolding action.
Get a Sample Report with Table of Contents
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
Online Sports Betting Market Growth
The online sports betting market is growing rapidly due to several key drivers:
Expansion of Legal Markets: As more countries and regions move towards legalizing online sports betting, the market experiences greater legitimacy and larger customer bases. The U.S. has been one of the most significant contributors to this growth, with several states legalizing sports betting following the repeal of PASPA (Professional and Amateur Sports Protection Act) in 2018.
Technological Advancements: The development of advanced betting platforms, mobile apps, and secure payment systems has made it easier and safer for bettors to place wagers online. Innovations in live streaming and interactive user interfaces have also made online betting more immersive and enjoyable.
Global Sports Fan Engagement: The increased global popularity of sports, including soccer, American football, and esports, has led to a larger audience for sports betting. As sports fans become more involved in online communities and digital platforms, the demand for sports betting services grows.
Promotions and Bonuses: Online sports betting platforms offer a variety of promotions, bonuses, and loyalty programs to attract and retain customers. These incentives play a major role in increasing user engagement and driving market growth.
Online Sports Betting Market Analysis
The online sports betting market is highly fragmented with numerous key players competing for market share. The market is characterized by intense competition, with companies striving to differentiate themselves through unique offerings, high-quality user experiences, and exclusive sports coverage.
Regional Insights: North America, especially the U.S., is experiencing rapid growth in online sports betting due to the increasing number of legalized states. Europe also remains a key market, with countries like the U.K. and Italy having established regulatory frameworks for online betting. Asia-Pacific is a rapidly growing market as mobile technology continues to drive betting activities, particularly in countries like India and China.
Customer Demographics: Younger generations, particularly millennials and Gen Z, are driving the growth of online sports betting, as they are more inclined to engage with digital platforms for entertainment. This demographic prefers mobile-first betting options and is more inclined to bet on esports and other non-traditional sports.
Regulatory Frameworks: Different regions have varying regulations surrounding online sports betting. Regulatory bodies in markets like the U.K. and European Union set standards for operators, while in countries like the U.S., individual states have begun introducing their own regulations. The rise of legalized sports betting in the U.S. and other regions is expected to fuel market expansion further.
Online Sports Betting Market Forecast
The online sports betting market is poised for exponential growth over the next decade, with a forecasted value of USD 163.42 billion by 2034. This growth is driven by technological innovations, greater market legalization, the increasing popularity of mobile betting, and the expansion of sports betting options, including esports and live betting. The integration of AI, machine learning, and advanced analytics will continue to play a pivotal role in enhancing the online betting experience, providing bettors with more personalized and accurate predictions.
Competitor Analysis
The online sports betting market is competitive, with numerous players vying for market share. Some of the key players include:
888 Holdings Plc: Known for its diverse portfolio of online gaming products, including sports betting, 888 Holdings is a major player in the online betting space, offering a wide range of sports betting options and innovative features to customers.
Tabcorp Group: As a leader in the Australian market, Tabcorp operates both retail and online sports betting platforms. It offers a comprehensive range of sports and betting options, and its strong brand presence in Australia positions it as a dominant player in the market.
Wynn Resorts, Limited: Wynn Resorts is a major operator in the U.S. market, offering sports betting both in retail and online formats. The company’s strong presence in the casino and hospitality industry complements its growing sports betting offerings.
Entain PLC: Entain is a leading global sports betting and gaming operator, with a strong presence in several key markets. The company operates well-known brands like BetMGM and bwin, and it has been expanding its global footprint through strategic acquisitions.
MGM Resorts International: MGM Resorts, with its BetMGM platform, has established a significant presence in the U.S. online sports betting market. It leverages its strong brand recognition in the hospitality industry to expand its sports betting operations.
Boyd Resorts International: Boyd Gaming operates multiple casinos across the U.S. and has expanded into the online sports betting market through partnerships and acquisitions. It is a growing player in the U.S. market, particularly in states where sports betting is legal.
Light & Wonder, Inc.: Known for its innovative approach to gaming technology, Light & Wonder is expanding its footprint in the online sports betting market with cutting-edge betting platforms and services.
Other: Smaller and emerging players are also contributing to the growth of the online sports betting market by offering innovative technologies, unique betting options, and catering to niche 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
