Sports Betting Market Size, Trends

Sports Betting Market Overview

The Sports Betting Market size was valued at USD 67.12 million in 2024 and is expected to reach USD 150.66 million by 2033, growing at a CAGR of 9.4% from 2025 to 2033.

The sports betting market is expanding rapidly worldwide, fueled by the legalization of betting activities and the rise of digital betting platforms. More than 1.6 billion people globally place bets on sports every year, with football accounting for over 40% of all bets placed worldwide.

Online platforms now handle over 70% of total bets, with more than 800 million active online betting accounts recorded in 2023. The emergence of mobile betting apps has driven more than 60% of sports wagers to be placed via smartphones. In Europe alone, over 50 million adults participate in regulated sports betting every year. North America has seen a surge in legal sports betting states, with over 30 US states now permitting online wagers.

eSports betting is growing fast, with more than 500 million people worldwide viewing eSports events and placing bets on live competitions. Physical betting shops remain strong in certain regions, with over 50,000 licensed betting shops operating globally. The market’s rapid growth is underpinned by technology, with live odds, AI analytics, and in-play betting driving more than 40% of bets placed during matches.

Key Findings

DRIVER: Increased legalization of sports betting activities boosts market participation and betting volumes.

COUNTRY/REGION: Europe leads the global market with more than 50 million active sports bettors annually.

SEGMENT: Fixed-odds wagering remains dominant, accounting for over 60% of total bets placed worldwide.

Sports Betting Market Trends

Sports betting is becoming increasingly mainstream, with digital technology transforming how people place wagers. More than 1.6 billion people globally bet on sports, and the number continues to rise as mobile accessibility grows. Mobile devices now account for over 60% of bets placed, thanks to easy-to-use apps and live in-play betting features. The popularity of live betting has soared, with in-play bets representing over 40% of total bets placed. eSports betting has emerged as a significant trend, with over 500 million global eSports viewers translating into more than 200 million eSports betting accounts worldwide. Data shows that more than 75% of bettors prefer live odds and real-time stats when placing bets online. The integration of AI-powered analytics and predictive tools is growing, with over 60% of major betting platforms offering advanced odds calculation for better user engagement. Social betting, where friends place bets together and share results, attracted over 100 million participants in 2023. Partnerships with sports leagues and teams have also grown, with more than 500 official sponsorship deals signed globally. Regulatory developments continue to shape the industry, with more than 30 US states legalizing sports betting. Europe remains a mature market, but Asia-Pacific shows rapid growth, with over 300 million active sports bettors. Physical betting shops are adapting by adding digital kiosks and live screens, drawing over 20 million in-store bettors monthly. Overall, trends show rising consumer trust in secure digital platforms, the integration of cashless payments, and real-time data analytics driving higher bet volumes across major sports leagues and events.

Sports Betting Market Dynamics

The Sports Betting Market Dynamics section analyzes the main factors influencing the market’s expansion and evolution worldwide. It details key drivers fueling growth, restraints slowing adoption, major opportunities shaping future developments, and critical challenges facing betting operators. Each aspect is backed by facts and figures that highlight how technology, regulation, consumer behavior, and competition impact millions of sports bettors every year.

DRIVER

Rising legalization of online sports betting across regions.

The primary driver of market growth is the steady legalization of sports betting in new jurisdictions. Over 30 US states now permit online sports betting, giving access to more than 150 million adults. Europe remains the largest legal market, with over 50 million active sports bettors annually. Asia-Pacific is catching up fast, with countries like India seeing more than 200 million online betting app downloads. Legal frameworks have helped attract millions of new users by providing safer, regulated environments for placing wagers. The expansion of digital payment systems supports faster deposits and withdrawals, with over 80% of users preferring mobile wallets for sports betting transactions.

RESTRAINT

Growing concerns about gambling addiction and regulatory restrictions.

Despite the growth, increasing concerns about gambling addiction are a major restraint. Around 5% of sports bettors worldwide are classified as problem gamblers, prompting regulators to tighten advertising rules. In Europe, over 10 countries introduced stricter ad guidelines in 2023 alone. Self-exclusion tools were used by over 2 million bettors last year to manage betting behavior. Anti-money laundering checks and KYC requirements have increased compliance costs for operators, with more than 50% of betting companies reporting higher operational expenses due to stricter monitoring. As governments balance market growth with responsible gambling, platforms must invest more in customer support and safe betting tools.

OPPORTUNITY

Rapid rise of eSports betting and new betting formats.

The boom in eSports viewership presents major opportunities. Over 500 million people watch eSports competitions worldwide, and more than 200 million of them have placed a bet on an eSports event. Younger audiences, especially under age 30, make up over 70% of eSports bettors. New betting formats like micro-betting, where users place small bets on specific game events, grew by 40% last year. In-play betting during eSports streams now accounts for more than 35% of all eSports wagers. Partnerships between betting companies and eSports leagues have surged, with more than 100 sponsorship deals signed globally in 2023. As eSports expand into new regions, betting platforms are launching custom odds and live-stream integrations to capture millions of new bettors.

CHALLENGE

High competition and rising operational costs for operators.

A key challenge in the sports betting industry is intense competition combined with rising tech costs. Over 1,000 licensed operators compete globally, driving aggressive marketing spend. Customer acquisition costs increased by 20% last year, as platforms offer promotions and sign-up bonuses to attract users. Cybersecurity is a growing expense too, with more than 500 million attempted fraud attacks blocked by betting sites in 2023 alone. To stay competitive, operators invest heavily in AI-powered odds, live-stream rights, and user experience upgrades. Regulatory compliance adds further pressure, with audits and license renewals costing millions each year for major platforms. Smaller operators struggle to scale while maintaining profit margins amid tight competition.

Sports Betting Market Segmentation

The sports betting market is segmented by type and application to address different consumer behaviors. By type, fixed-odds wagering remains the largest category, making up over 60% of global bets. eSports betting is growing rapidly, representing more than 15% of online bets placed. By application, over 70% of bets are made through online platforms, while physical betting shops still handle more than 20 million monthly walk-ins worldwide, offering traditional in-person betting experiences alongside digital kiosks.

By Type

Fixed-Odds Wagering: Fixed-odds wagering remains the backbone of the sports betting industry, accounting for over 60% of total bets placed worldwide. More than 1 billion people placed fixed-odds bets in 2023. Football leads fixed-odds betting, generating over 40% of wagers in this category. Major leagues like the English Premier League and the NFL attract millions of bets every week. Bettors favor fixed-odds for its simplicity, with over 70% preferring clear odds and payouts before placing bets. New tools like cash-out options and bet builders have increased fixed-odds engagement by 25% year-over-year.
eSports Betting: eSports betting is booming, driven by over 500 million global eSports viewers. More than 200 million active accounts now place eSports wagers, especially on popular titles like League of Legends, Dota 2, and Counter-Strike. In-play eSports betting makes up more than 35% of bets placed during tournaments. Millennials and Gen Z account for over 70% of eSports betting participants. Online platforms offer live-stream integration, letting over 150 million users bet while watching matches. Sponsorships between betting brands and eSports tournaments have grown, with more than 100 active partnerships supporting live betting features.

By Application

Online Platforms: Online sports betting platforms handle over 70% of global bets. More than 800 million active betting accounts were logged in 2023. Mobile betting dominates, with over 60% of wagers placed via smartphones. Live betting accounts for over 40% of online betting activity. Major sports events like the FIFA World Cup attract over 100 million live bets in a single month. Operators invest heavily in mobile apps, AI odds, and secure payment gateways to handle over 1 billion transactions annually.
Physical Betting Shops: Physical betting shops remain significant, with over 50,000 licensed outlets worldwide. In Europe, more than 20 million monthly visitors place in-store bets. Shops increasingly use digital kiosks, with over 60% offering self-service terminals. Major events like horse racing and local football matches continue to drive footfall. Hybrid models combining in-shop screens and online betting apps have helped retain over 10 million regular shop users who prefer cash betting and in-person interactions.

Regional Outlook for the Sports Betting Market

The Regional Outlook section provides a fact-based overview of how the sports betting market performs across North America, Europe, Asia-Pacific, and the Middle East & Africa. It includes up-to-date figures on betting activity, platform adoption, and unique trends in each region — highlighting where growth is strongest and how local factors shape betting patterns worldwide.

North America

North America is seeing explosive growth in the sports betting market as legal frameworks expand rapidly. Over 30 US states now allow legal sports betting, giving more than 150 million adults access to regulated betting platforms. Major sports events like the Super Bowl alone attract over 50 million bets each year. Mobile betting apps are the preferred choice for more than 70% of North American bettors. eSports betting is gaining traction, with more than 30 million active eSports bettors across the US and Canada. Sports bars and physical casinos continue to host live betting kiosks, drawing in over 5 million in-person bettors monthly.

Europe

Europe remains the largest and most mature region for sports betting, with over 50 million adults placing regulated bets annually. Fixed-odds wagering dominates the European market, representing more than 60% of bets placed. The UK, Spain, Italy, and Germany are among the leading betting markets, with football driving more than 45% of bets. Online platforms handle over 70% of wagers in Europe, supported by high mobile adoption rates. Physical betting shops remain popular in the UK and Ireland, with over 10,000 licensed shops still operating. Europe also leads in regulatory standards, with more than 10 countries updating betting laws to strengthen player protection in 2023.

Asia-Pacific

Asia-Pacific is an emerging powerhouse in the sports betting industry. Over 300 million people in Asia-Pacific place sports bets each year, supported by widespread smartphone use and growing internet penetration. India alone recorded more than 200 million sports betting app downloads in the last 24 months. eSports betting is especially popular, accounting for more than 40% of online betting traffic in markets like China and South Korea. Local events such as cricket matches drive high betting volumes, with the Indian Premier League attracting over 50 million active bettors annually. Mobile-first betting is the norm, with more than 80% of bets placed via smartphones in the region.

Middle East & Africa

The Middle East & Africa are becoming increasingly relevant for sports betting operators. Over 50 million people participate in sports betting in this region each year. Football remains the dominant sport, generating more than 60% of bets placed. Kenya, Nigeria, and South Africa lead Africa’s betting scene, with over 30 million combined active bettors. Mobile money wallets are widely used, with more than 70% of African sports bettors preferring mobile payments for deposits and withdrawals. Physical betting shops operate alongside mobile platforms, attracting over 5 million monthly visitors in major cities. Regulatory reforms in several Middle Eastern markets have created new opportunities for licensed operators.

List of Top Sports Betting Companies

Flutter Entertainment (Ireland)
Entain (UK)
DraftKings (USA)
FanDuel (USA)
Caesars Entertainment (USA)
William Hill (UK)
Bet365 (UK)
888 Holdings (UK)
Paddy Power (Ireland)
Unibet (Sweden)

Flutter Entertainment (Ireland): Operates leading brands with over 10 million active users and processes millions of bets weekly across Europe and North America.

Entain (UK): Manages over 9 million betting accounts worldwide, with a strong portfolio spanning online platforms and physical betting shops in Europe and beyond.

Investment Analysis and Opportunities

The sports betting industry continues to attract record levels of investment as the market expands globally. Over 1,000 licensed operators are active worldwide, driving competition and innovation. Major betting brands have invested heavily in mobile app development, with over 500 million downloads recorded across the top platforms in 2023 alone. Partnerships with professional sports leagues are a key area of investment — more than 500 sponsorship deals have been signed globally to promote legal betting services. AI and big data analytics are attracting significant funding as operators seek better odds accuracy and fraud detection. Over 60% of top platforms use AI-powered odds modeling to process millions of live data points. Companies are also investing in live-streaming rights to keep bettors engaged; more than 100 million users streamed matches directly on betting apps last year. Cashless payment integrations have become standard, with over 80% of users preferring mobile wallets or instant payment options. Emerging regions like Asia-Pacific and Africa present major opportunities. Investors are backing local startups and regional brands, with more than 200 million new mobile betting users added in these regions in the last two years. The eSports betting segment alone saw over 200 million active betting accounts open globally, attracting venture capital into specialized platforms. Innovations like micro-betting and real-time in-play features have driven more than 40% growth in active bettors under age 30. Regulatory compliance is another area of heavy investment. Operators spend millions each year on licensing, customer verification, and responsible gambling tools. Over 2 million bettors used self-exclusion tools in 2023, demonstrating demand for safer betting environments. To stand out, companies invest in loyalty rewards, real-time odds enhancements, and multi-sport integration — trends that keep existing users engaged and attract millions of new bettors every month.

New Product Development

New product development is reshaping the sports betting industry as operators compete for attention in a crowded market. In 2023 alone, over 500 new betting features were launched across major platforms. Mobile-first innovations continue to lead, with more than 60% of all bets now placed on smartphones. Live in-play betting options expanded significantly, with real-time odds updates covering over 1 million events globally. Micro-betting — which allows users to bet on minute-by-minute events like next goals or player fouls — attracted over 50 million active users last year. Cash-out tools have grown in popularity too, with more than 40% of online bettors using early payout options during live games. AI-driven prediction models are being embedded in apps, with more than 70% of users saying they trust AI recommendations when placing complex bets. eSports betting is another hotbed for innovation. Platforms now offer real-time stats overlays and live chat communities, which engaged more than 100 million viewers and bettors in 2023. Some companies launched crypto betting options and blockchain-based betting records to enhance transparency and trust — over 1 million users have tried blockchain-enabled bet slips so far. Physical betting shops are also modernizing, with more than 60% now using digital self-service kiosks and large interactive displays. Hybrid apps let in-store bettors switch seamlessly to mobile betting, capturing millions of crossover users. Partnerships with professional leagues help brands launch branded betting experiences, which saw over 50 million unique visitors during major tournaments last year. Sports data partnerships are expanding too, with real-time player tracking and video highlights driving next-gen live betting experiences. Overall, new products focus on personalization, mobile-first features, safer gambling tools, and seamless integration of payments and real-time content to keep millions of global bettors active and engaged.

Five Recent Developments

Over 30 US states launched or expanded legal online sports betting services, giving more than 150 million adults regulated access.
More than 100 million users streamed live matches directly on betting apps with integrated in-play betting features.
Over 500 official sponsorship deals were signed between operators and professional sports leagues worldwide.
AI-driven prediction tools were added to over 70% of top mobile betting apps, boosting user engagement.
eSports betting platforms recorded more than 200 million active betting accounts, driven by global tournaments.

Report Coverage of Sports Betting Market

This report provides comprehensive coverage of the global sports betting market, analyzing every key factor shaping its rapid growth. With over 1.6 billion people betting on sports worldwide, the market is driven by rising legalization and mobile-first technology. Fixed-odds wagering remains the dominant type, accounting for over 60% of global bets, while eSports betting attracts more than 200 million active accounts. The report details how more than 70% of sports bets are placed via online platforms, with over 800 million active accounts recorded in 2023. Physical betting shops remain strong in Europe and parts of Africa, drawing more than 20 million monthly in-person bettors. Regionally, Europe leads the market with over 50 million regulated bettors, while Asia-Pacific shows fast growth with over 300 million sports betting participants. Leading companies such as Flutter Entertainment and Entain manage millions of active users, with combined platforms processing hundreds of millions of bets annually. Investments in AI analytics, live-stream rights, and secure mobile payments keep the industry competitive. Over 500 million betting app downloads in 2023 alone highlight the rising shift to mobile-first betting. The report also covers new product developments such as micro-betting, live cash-out tools, blockchain-based bet records, and integrated live-stream experiences that attracted over 100 million engaged bettors last year. With over 500 new betting features launched globally, the market is set to keep evolving. Regulatory compliance, customer protection, and responsible gambling remain major focus areas, with over 2 million bettors using self-exclusion tools in 2023. The report explains how operators balance growth with safe betting tools while facing increasing competition, rising cybersecurity costs, and higher customer acquisition expenses.