Sports Betting Market Size Worth USD 224.12 Billion, Globally, by 2033 at a CAGR of 8.56%

Market Overview:

The sports betting market is experiencing rapid growth, driven by rise of mobile betting, regulatory changes impact growth, and demand for live betting. According to IMARC Group's latest research publication, "Sports Betting Market Size, Share, Trends and Forecast by Platform, Betting Type, Sports Type, and Region, 2025-2033", The global sports betting market size was valued at USD 103.08 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 224.12 Billion by 2033, exhibiting a CAGR of 8.56% from 2025-2033.

This detailed analysis primarily encompasses industry size, business trends, market share, key growth factors, and regional forecasts. The report offers a comprehensive overview and integrates research findings, market assessments, and data from different sources. It also includes pivotal market dynamics like drivers and challenges, while also highlighting growth opportunities, financial insights, technological improvements, emerging trends, and innovations. Besides this, the report provides regional market evaluation, along with a competitive landscape analysis.

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Our report includes:

● Market Dynamics
● Market Trends And Market Outlook
● Competitive Analysis
● Industry Segmentation
● Strategic Recommendations

Industry Trends and Drivers:

● Rise of Mobile Betting:

The sports betting market has seen a massive shift toward mobile platforms, driven by convenience and accessibility. Over 70% of bets are now placed via smartphones, as users enjoy the flexibility of wagering anytime, anywhere. Operators are investing heavily in user-friendly apps, live streaming, and instant payouts to enhance the mobile experience. This trend is further fueled by improved internet connectivity and the proliferation of 5G technology, making real-time betting smoother than ever. As mobile adoption grows, expect more personalized promotions and AI-driven betting suggestions to dominate the market.

● Regulatory Changes Impact Growth:

Legalization and regulation are reshaping the sports betting landscape globally. Markets like the U.S. have seen explosive growth since the 2018 PASPA repeal, with over 30 states now legalizing sports betting. Meanwhile, stricter regulations in Europe (like affordability checks in the UK) are pushing operators to innovate responsibly. These changes create both opportunities and challenges-while new markets open, compliance costs rise. Operators must balance aggressive expansion with adherence to evolving laws, making regulatory expertise a key competitive advantage in this fast-moving industry.

● Demand for Live Betting:

Live (in-play) betting is surging in popularity, accounting for nearly 50% of total wagers in some markets. Fans crave the thrill of betting on dynamic odds during games, driven by real-time data and instant updates. Sportsbooks are leveraging advanced analytics and AI to offer micro-markets (e.g., next play outcomes) while minimizing latency. This trend is particularly strong in high-speed sports like soccer and basketball. As broadcasters integrate betting features into streams, live betting will continue to dominate, pushing operators to deliver faster, more immersive experiences to retain engaged users.

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Leading Companies Operating in the Global LPG Tanker Industry:

● 888 Holdings PLC
● Bet365 Group Ltd.
● Bet-at-home.com AG (BetClic Everest Group S.A.S.)
● Betfred USA Sports
● Betsson AB
● DraftKings Inc.
● Entain plc
● Flutter Entertainment plc
● International Game Technology PLC
● Kindred Group plc
● Sportech PLC
● TwinSpires (Churchill Downs Incorporated)

Sports Betting Market Report Segmentation:

Breakup By Platform:

● Offline
● Online

Online exhibits a clear dominance in the market due to its convenience, accessibility, and real-time betting options available to users worldwide.

Breakup By Betting Type:

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

Fixed odds wagering represents the largest segment as it offers straightforward odds that appeal to both novice and experienced bettors looking for predictable returns.

Breakup By Sports Type:

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

Football holds the biggest market share driven by its global fanbase and numerous leagues and events, which create extensive betting opportunities.

Breakup By Region:

● North America (United States, Canada)
● Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
● Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
● Latin America (Brazil, Mexico, Others)
● Middle East and Africa

Asia Pacific dominates the market attributed to established regulations, a high concentration of sports fans, and widespread online betting infrastructure.

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Research Methodology:

The report employs a comprehensive research methodology, combining primary and secondary data sources to validate findings. It includes market assessments, surveys, expert opinions, and data triangulation techniques to ensure accuracy and reliability.

Note: If you require specific details, data, or insights that are not currently included in the scope of this report, we are happy to accommodate your request. As part of our customization service, we will gather and provide the additional information you need, tailored to your specific requirements. Please let us know your exact needs, and we will ensure the report is updated accordingly to meet your expectations.

About Us:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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