Global Sports Betting Market Size, Share, and COVID-19 Impact Analysis, Russia-Ukraine War Impact, Tariff Analysis, By Sport Type (Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, and Others), By Betting Type (Fixed Odds Wagering, Exchange Betting, Live/In-Play Betting, eSports Betting, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 - 2035

Sports Betting Market Summary, Size & Emerging Trends

According to Spherical Insights, The Global Sports Betting Market Size is Expected to grow from USD 90.80 Billion in 2024 to USD 283.70 Billion by 2035, at a CAGR of 10.91 % during the forecast period 2025-2035. Technological developments, regulatory expansions, worldwide market penetration, data analytics integration, mobile platform growth, and improved monetization through creative digital experiences are some of the opportunities presented by the sports betting market.

Key Market Insights

• Europe is expected to account for the largest share in the sports betting market during the forecast period.
• In terms of sport type, the football segment is projected to lead the sports betting market in terms of equipment throughout the forecast period
• In terms of betting type, the live/in-play betting segment captured the largest portion of the market

Global Market Forecast and Revenue Outlook

• 2024 Market Size: USD 90.80 Billion  
• 2035 Projected Market Size: USD 283.70 Billion  
• CAGR (2025-2035): 10.91 %
• Europe: Largest market in 2024
• North America: Fastest growing market

Sports Betting Market

The structured business of placing bets on the results of different sporting events by people or organizations is known as the sports betting market. Traditional bookies, internet sites, and smartphone apps that allow betting on sports, including basketball, football, horse racing, and more, are all part of this market. Governments and agencies set up the regulatory framework in which it functions to guarantee fairness, openness, and responsible gaming. The sports betting market's high level of technological integration allows for data analytics, real-time betting, and customized user experiences. For Instance, in August 2025, Betby, a developer of iGaming software, announced the addition of additional virtual games to its library, which now totals over 20 titles. In conjunction with the new season of the Indian Pro Kabaddi League, the world's first virtual kabaddi game is being launched. The expanded availability of mobile phones and the internet is the main factor driving industry expansion. A number of nations have legalized and regulated sports betting, which has increased consumer trust and attracted new players to the market. The rise in sports leagues and events, as well as the expansion of digital infrastructure and the use of connected devices, are major factors propelling the growth of the sports betting market.   

Sports Betting Market Trends

• Digital Transformation: As Sport Type advances and internet connectivity increases, more people are using online and mobile betting services.
• Regulatory Evolution: The liberalization and extension of regulatory frameworks across different locations, which promotes market expansion and improves consumer protection.
• Data-Driven Betting: Combining artificial intelligence and big data analytics to provide individualized betting experiences and increase odds accuracy.
• Growth of Esports Betting: As esports gain popularity, niche betting markets have emerged, drawing in a varied range of younger customers.

Sports Betting Market Dynamics

Driving Factors: Growing smartphones increase accessibility, driving market expansion

Growing smartphone usage is making sports betting widely accessible and available, which in turn is driving sports betting market expansion. The integration of cutting-edge technologies is predicted to draw in new clients, which can help the sports betting market. Demand is further fueled by the rising appeal of live sports and international competitions, which draw consumers from a wide spectrum of demographics and geographical locations. The growing prevalence of artificial intelligence (AI) and machine learning for automatic odds modifications, risk assessment, and personalized recommendations further indicates a move toward more data-driven, customized, and interactive betting settings.    

Restrain Factors: Strict regulations and ambiguities restrict market accessibility

The sports betting market is restricted by a number of problems, such as strict regulations and legal ambiguities in many jurisdictions that restrict market accessibility. Additionally, ethical dilemmas and worries about gambling addiction affect customer engagement and confidence. The significant risk of fraud and cyber risks also impedes market expansion. Intense competition and the intricacy of incorporating cutting-edge technologies can provide operational difficulties for market participants.

Opportunity: Innovations in technology make things more accessible, which increases sports betting

Technological innovations, including online and mobile platforms that improve consumer accessibility and engagement, have created substantial opportunities in the sports betting sector. Growth is promoted by opening up new markets through regional legalization and regulatory reforms. Better risk management and individualized betting experiences are made possible by the combination of artificial intelligence and big data analytics. The sports betting market is positioned for long-term growth on a worldwide scale due to these elements, which together create a dynamic environment for innovation, higher revenue generation, and wider consumer participation.  

Challenges: Strict regulations across countries challenge sports betting operations

Strict regulatory compliance across several countries is one of the numerous challenges facing the sports betting market, making market operations more difficult. Problems with gambling addiction and moral dilemmas affect user confidence and public opinion. Resources are further strained by fierce operator competition and the requirement for constant technological innovation. In order to maintain market stability, these issues must be strategically managed as they jointly impede sustained expansion.

Global Sports Betting Market Ecosystem Analysis

The global sports betting market ecosystem comprises various interconnected stakeholders, including operators, technology providers, regulatory authorities, and end-users. Central components involve online and offline betting platforms, data analytics, payment systems, and marketing agencies. Regulatory frameworks differ significantly across regions, shaping market accessibility and compliance requirements. Technological innovations such as artificial intelligence, mobile applications, and real-time data integration enhance user experience and operational efficiency. Additionally, responsible gambling initiatives and transparency measures are critical for sustainable growth. The ecosystem’s dynamic nature fosters competition, driving continuous advancements and expanding the global sports betting industry.

Global Sports Betting Market, By Sport Type

The football segment led the sports betting market, generating the largest revenue share. Football is one of the most wagered-on sports, both online and off, due to its well-planned schedule, huge media coverage, and easy accessibility. Football is further driven by the provision of a variety of betting markets, ranging from match outcomes to in-play analytics, which improves the user experience overall.

The cricket segment in the sports betting market is expected to grow at the fastest CAGR over the forecast period. The emergence of shorter formats, especially T20 leagues like the Indian Premier League (IPL) and other regional competitions, has greatly increased betting volumes because of their frequent matches and quick tempo.     

Global Sports Betting Market, By Betting Type

The live/in-play betting segment held the largest market share in the sports betting market. The user experience is boosted by the addition of live data, match streaming, and real-time odds updates, which makes live/in-play betting more alluring to anyone looking for more flexibility and continuous participation across a range of athletic events.   

The eSports betting segment in the sports betting market is projected to register the fastest CAGR. The growing appeal of competitive gaming and the growth of online streaming services like Twitch and YouTube Gaming are the main drivers of the eSports betting market.     

Europe is expected to account for the largest share of the sports betting market during the forecast period. The European sports betting market is always changing, supported by both growing internet activity and established rules in a number of nations. Mobile apps and live betting features are growing increasingly popular, and online platforms already control the majority of the market. Basketball and tennis are the next most bet-on sports, behind football.

The United Kingdom is experiencing steady growth in the sports betting market. The UK Gambling Commission's stringent regulatory monitoring, which includes advertising guidelines and affordability assessments, shapes the market. Football, horse racing, and greyhound racing are among the most popular sports for wagering.

North America is expected to grow at the fastest CAGR in the sports betting market during the forecast period. The North American sports betting market is due to regulatory changes, particularly in the United States, where legalization is continuing state by state. The fastest-growing channels are mobile and online, where user engagement is fueled by promotions, live streaming, and in-play betting. Sportsbook operators frequently work with major sports leagues or media companies to increase integration and visibility.

The United States is the largest market for sports betting, still expanding as more states authorize and control retail and internet wagering. Operators are concentrating on player-targeted promos, in-play betting features, and app capabilities as the majority of activity has shifted to mobile devices.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the sports betting market, along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. 

WORLDWIDE TOP KEY PLAYERS IN THE SPORTS BETTING MARKET INCLUDE

• IGT
• Bet365
• Entain plc
• Betsson AB
• Sportech Plc
• William Hill Plc
• 888 Holdings Plc
• Kindred Group Plc
• Viscus Infotech Ltd.
• Flutter Entertainment Plc
• Endeavor Group Holdings Inc
• Churchill Downs Incorporated
• Others 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Product Launches in Sports Betting

• In March 2024, as Rhode Island entered the online casino market, Bally's Corporation launched its iGaming platform there. The site offers about 170 table and slot games, including live dealer options, on both desktop and iOS mobile platforms. A four-day technical test was conducted before the debut, and an agreement with Stakelogic, a live casino provider, was also in place.  

• In September 2024, Flutter Entertainment stated that it has paid approximately $350 billion to acquire a 56% share in the NSX Group, which runs Betnacional in Brazil. In Brazil, where sports betting is about to become fully regulated by early 2025, the move is a calculated attempt to increase Flutter's market share. Flutter is to use the same growth strategy it used in the U.S. to acquire market share by integrating Betnacional into its existing Betfair Brazil brand and making significant investments.  

Market Segment  

This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the sports betting market based on the below-mentioned segments: 

Global Sports Betting Market, By Sport Type  

• Football
• Basketball
• Baseball
• Horse Racing
• Cricket
• Hockey
• Others

Global Sports Betting Market, By Betting Type   

• Fixed Odds Wagering
• Exchange Betting
• Live/In-Play Betting
• eSports Betting
• Others

Global Sports Betting Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa