Sports Betting Market Size Global Report, 2022 - 2030
Sports Betting Market Share, Size, Trends, Industry Analysis Report, 2022 - 2030

Sports Betting Market Share, Size, Trends, Industry Analysis Report, By Type (Fixed Odds Wagering, Exchange Betting, Live/In-Play Betting, Pari-Mutuel, E-sports Betting, Others), By Platform; By Sports; By Application; By Region; Segment Forecast, 2022 - 2030

  • Published Date:Jan-2022
  • Pages: 119
  • Format: PDF
  • Report ID: PM2153
  • Base Year: 2021
  • Historical Data: 2018 - 2020

Report Outlook

The global sports betting market was valued at USD 70.23 billion in 2021 and is expected to grow at a CAGR of 11.7% during the forecast period. The key factors influencing the market growth include, increase in penetration of the connected smart smartphones, changing digital arena of the South Asia economies, and a rise in the emergence of online betting among the younger generation.

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The majority of the younger population resides in Asian countries, and the past two years of the Covid-19 phase pushed younger people towards spending more time on smartphones which also favored the adoption of the market. As a result of the COVID-19 pandemic, consumers moved the most to the internet platform to overcome their financial, social, and psychological problems during lockdowns that had a favorable impact on the sports betting market.

The online platform has seen an increase in involvement during lockdowns as users had more time on their phones and desktop computers, making it easier for them to place bets. For instance, according to a study by Lund University in Sweden, customer demand in sports wagering platforms has increased as a result of restrictions in sporting events due to lockdowns.

Industry Dynamics

Growth Drivers
The sports betting market is being driven by the growth of digital infrastructure and the prevalence of wireless connectivity. The growing usage of smartphones has changed the way consumers perform a variety of activities, including games betting. There are around 6.3 billion smartphone users worldwide, and this number is growing every year. In addition, the demand for the sports betting industry is growing as the number of athletic events and leagues increases.

Games such as football, basketball, baseball, hockey, cricket, boxing, and motor racing attract the most bets. Non-athletic events, such as eSports and horse racing, are also covered by sports wagering. According to Statista, the sports betting market is growing USD 218 billion per year, with 30,861 companies generating revenue. While most of this wagering is done online, the internet industry continues to grow. In comparison to 2019, some sporting events have seen a 206% growth rate in bets in 2021.

Furthermore, the sports betting market has also grown from increasing investments in online platforms as internet penetration has expanded. According to DataReportal's Global Social Media Overview April 2021, there are more than 4.8 billion internet users worldwide. Online platforms allow participants to keep track of their wagering actions in real-time via internet-connected devices.

Sports Betting Market 2030

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Report Segmentation

The market is primarily segmented on the basis of platform, type, sports, application, and region.

By Platform

By Type

By Sports

By Application

By Region

  • Online
  • Offline
  • Fixed Odds Wagering
  • Exchange Betting
  • Live/In Play Betting
  • Pari-mutuel
  • E-sports Betting
  • Others
  • Football
  • Basketball
  • Baseball
  • Horse Racing
  • Cricket
  • Hockey
  • Others
  • Draw games
  • Instant games
  • Lotto
  • Number games
  • Others
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Insight by Platform

The online segment is expected to witness the largest share in the global market in 2021, owing to the rising penetration of smartphones and connected devices throughout the world. For instance, According to the Casino organization, almost 26% of the world's population gambles. Around 1.6 billion people bet globally, with 4.2 billion people wagering at least every year.

The growth of online platforms using mobile devices has been fueled by increasing smartphone use, as well as the acceptance of video streaming and instant messaging services. By improving existing smartphone apps, is projected to have an indirect impact on consumer interaction. Over the forecast period, the use of 5G networks is predicted to enhance the popularity of smartphone-based wagering, which will boost the global sports betting market.

Insight by Sports

The football segment is expected to witness the highest CAGR during the forecast period as the popularity of this game. Football players such as Lionel Messi, Cristiano Ronaldo, Neymar, and Robert Lewandowski have contributed to the expansion of this market due to the popularity of the game and its large fan base throughout the world.

Moreover, an increasing number of tournaments such as the UEFA European Championship, FIFA World Cup, FA Cup, Copa America, UEFA Europa League, and UEFA Champions League are driving the popularity of football sport. Also, these factors drive people to increase bet amounts on a regular process.

In 2021, basketball accounted for the second-largest revenue share. The growth of this segment can be attributed to the event's attractiveness and the ability to place bets on it. Over the forecast period, the cricket segment is expected to increase significantly. The growth of fantasy wagering applications, as well as an increase in the number of bettors from the Asia Pacific, can be contributed to this segment's growth.

Geographic Overview

Geographically, in 2021, Europe had the highest revenue share, and this is expected to continue throughout the forecast period. The adoption of safety legislation and regulations for both offline and online wagering is responsible for the region's growth. The expansion of the regional market can be related to the adoption of safety legislation and regulations for both offline and online betting in most of the region's countries.

Furthermore, prominent games such as horse racing and football, as well as popular football clubs such as Liverpool, Manchester United, and Chelsea F.C., are well-known in countries such as Germany and the United Kingdom.

In 2021, Asia Pacific had the second-largest revenue share, and it is expected to grow at the fastest CAGR over the projected period. The market in this region is being driven by factors such as the increased number of people wagering on games such as cricket, hockey, football, and basketball. Furthermore, the authorization of the market in countries such as India and Australia, as well as factors including increased internet penetration and middle-class family income levels, are driving the region’s growth.

Competitive Insight

Some of the major players operating the market include 888 Holdings, Amaya gaming, Bet365 Group, BetAmerica,, Betfred, Betsson, Draft Kings, Fan duel, Gala Coral Group, GVC Holdings, Kindred Group, Ladbrokes, Paddy Power Betfair, Sportech, TVG, Twinspires, Watch and Wage, and William Hill.

Sports Betting Market Report Scope

Report Attributes


Market size value in 2021

USD 70.23 billion

Revenue forecast in 2030

USD 178.68 billion


11.7% from 2022 - 2030

Base year


Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2030

Segments covered

By Platform, By Type, By Sports, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key companies

888 Holdings, Amaya gaming, Bet365 Group, BetAmerica,, Betfred, Betsson, Draft Kings, Fan duel, Gala Coral Group, GVC Holdings, Kindred Group, Ladbrokes, Paddy Power Betfair, Sportech, TVG, Twinspires, Watch and Wage, and William Hill.