Sports Betting Market Size Worth USD 274.78 Billion by 2034 | CAGR: 10.8%

The sports betting market size is expected to reach USD 274.78 billion by 2034, according to a new study by Polaris Market Research. The report “Sports Betting Market Size, Share, Trend & Industry Analysis Report: By Platform (Online, and Offline), By Type, By Sports, By Application, and By Region – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The sports betting market refers to the ecosystem where individuals place wagers on the outcomes of sports events using online platforms or traditional retail channels. This market is evolving rapidly, driven by regulatory liberalization, digitalization, and shifting consumer behavior. The rise of real-time betting, live odds, and in-play features has transformed how users interact with betting platforms, creating more dynamic and personalized wagering experiences. Increased investment in advanced analytics and AI-powered recommendation engines is improving odds accuracy and enhancing user engagement. Operators are integrating seamless payment solutions, digital wallets, and blockchain technologies to improve transparency and transaction efficiency. Growing partnerships between betting firms, sports leagues, and media companies are expanding brand visibility and building user trust.

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Mobile-first strategies, supported by push notifications and live streaming features, are capturing a younger, tech-savvy audience. Meanwhile, gamification elements and loyalty rewards are being adopted to strengthen user retention. Regulatory frameworks are becoming more standardized, encouraging responsible gambling features and compliance automation. The market also benefits from the increasing popularity of emerging sports and e-sports, opening new verticals for revenue generation. Cross-border licensing, multilingual support, and localized offerings are creating competitive advantages for global operators seeking to tap into diverse user bases. Overall, the market continues to shift toward integrated platforms offering both entertainment and transactional efficiency, supported by data security, scalable infrastructure, and AI-driven personalization. The ability to adapt to technological change, regulatory pressure, and evolving consumer preferences will remain a critical success factor for stakeholders in this rapidly expanding industry.

Top of FormSports Betting Market Report Highlights

• By platform, the offline segment accounted for the significant revenue share in 2024 due to the continued reliance on physical betting shops and licensed retail bookmakers, particularly in regions where digital infrastructure is less developed.
• Based on type, in 2024, the live/in-play betting segment accounted for the largest revenue share, driven by rising demand for real-time engagement and dynamic odds.
• In 2024, the North America sports betting market is accounted for the largest revenue share due to the rapid legalization of sports wagering across multiple states and the growing presence of licensed operators offering advanced digital platforms
• The Asia Pacific sports betting market is expected to register fastest CAGR from 2025 to 2034 due to rising smartphone usage, expanding internet access, and growing interest in sports such as cricket, basketball, and esports.
• A few global key players include 888 Holdings Plc, Bet365, Betsson AB, Churchill Downs Incorporated, Entain plc, Flutter Entertainment Plc, IGT, Kindred Group Plc, Sportech Plc, William Hill Plc.

Polaris market research has segmented on the basis of platform, type, sports, application and region:

By Platform Outlook (Revenue USD Billion, 2020–2034)

• Online
• Offline

By Type Outlook (Revenue USD Billion, 2020–2034)

• Fixed Odds Wagering
• Exchange Betting
• Live/In Play Betting
• Pari-mutuel
• E-sports Betting
• Others

By Sports Outlook (Revenue USD Billion, 2020–2034)

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

By Application Outlook (Revenue USD Billion, 2020–2034)

• Draw games
• Instant games
• Lotto
• Number games
• Others

By Regional Outlook (Revenue USD Billion, 2020–2034)

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