Sports Betting Market Set to Reach USD 233.76 Billion by 2032

The global Sports Betting Market is projected to expand from USD 103.05 billion in 2024 to approximately USD 233.76 billion by 2032, reflecting a Compound Annual Growth Rate (CAGR) of 10.78% during the forecast period.

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Competitive Landscape

The sports betting industry is characterized by prominent players such as Entain plc, Flutter Entertainment, Bet365, DraftKings, and MGM Resorts. These companies are actively engaging in strategic initiatives, including mergers and acquisitions, to strengthen their market positions and cater to the growing global demand for sports wagering.

Regional Insights

North America: Sports Betting Market Growth and Opportunities

In North America, the sports betting market has experienced significant growth, particularly following the repeal of the Professional and Amateur Sports Protection Act (PASPA) in 2018. States such as New Jersey, Pennsylvania, and Michigan have established robust sports betting industries. However, efforts to legalize sports betting in states like Georgia have faced challenges, with recent legislative attempts stalling.

Europe: Trends and Consolidation in the Sports Betting Market

Europe remains a mature market for sports betting, with established regulations and a high rate of participation. Companies like Entain plc, owner of brands such as Ladbrokes and Coral, have reported strong financial results, driven by online growth in regions including the UK, Ireland, and Brazil. In 2024, Entain reported underlying adjusted earnings of £1.09 billion, with a 7% increase in net gaming revenues.

Asia-Pacific: Sports Betting Market Expansion and Innovations

The Asia-Pacific region presents substantial growth opportunities for the sports betting market, driven by increasing internet penetration and a growing middle-class population. However, regulatory environments vary significantly across countries, influencing the pace of market expansion.

Middle East and Africa: Sports Betting Market Trends and Potential

The Middle East and Africa region holds potential for growth in the sports betting market, particularly with the proliferation of mobile technology. Nonetheless, cultural and regulatory considerations play a crucial role in shaping the market landscape.

Recent Mergers, Acquisitions, and Developments

Entain plc has been active in expanding its global footprint through strategic acquisitions. In January 2023, Entain acquired the Dutch online gaming company, BetCity, from Sports Entertainment Media for £398 million.

Flutter Entertainment, owner of brands such as Paddy Power, Betfair, and FanDuel, has experienced significant growth, notably in the US market. In 2025, Flutter reported a 33% increase in US earnings and a 176% rise in EBITDA, highlighting the success of its strategic focus on the burgeoning US sports betting industry.

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Sports Betting Market Segmentation:

by Platform

Online
Offline

by Game Type

Football
Baseball
Basketball
Hockey
Cricket
Boxing
Horse racing
Other

by Betting Type

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

The online segment held the largest revenue share of 62.70% in 2024, according to the Platform segment, and is anticipated to grow at a significant compound annual growth rate (CAGR) and provide profitable growth opportunities for the sports betting market players throughout the forecast period. The Online Platform sub-segment dominated the global sports betting industry due to shifting consumer preferences, new trends, and local unique circumstances.

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Sports Betting Market Major Players:

1. Betson AB
2. Flutter Entertainment PLC
3. DraftKings Co., Ltd.
4. Kindred Group PLC
5. 1XBET
6. 22BET
7. Sports Pesa
8. FORTUNA ENTERTAINMENT GROUP
9. LAS VEGAS SANDS CORPORATION (U.S.),
10. Entain (U.K.),
11. MGM Resorts International
12. Wynn Resorts Holdings LLC.
13. NOVIBET (Greece)
14. Galaxy Entertainment Group Limited
15. Resorts World at Sentosa Pte. Ltd.
16. Sun International
17. RTSmunity a.s.
18. Sky Infotech
19. Peermont Global Proprietary Limited
20. SJM Holdings Limited
21. Sportradar AG
22. FanUp Inc.
23. Rivalry Ltd.
24. EveryMatrix
25. Kairos Group

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