Saudi Arabia Sports Betting Market Size to Hit USD 2,030.3 Million by 2033 at a CAGR of 8.1%

Saudi Arabia Sports Betting Market Overview

Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Growth Rate: 8.1% (2025-2033)

The sports betting market in Saudi Arabia is emerging cautiously amid evolving regulatory landscapes and growing interest in digital entertainment and competitive sports. According to the latest report by IMARC Group, the Saudi Arabia sports betting market size reached USD 956.7 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 2,030.3 Million by 2033, exhibiting a growth rate (CAGR) of 8.1% during 2025-2033.

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Saudi Arabia Sports Betting Industry Trends and Drivers:

The sports betting market in Saudi Arabia is being established as a growing and evolving market as the kingdom aims to enhance recreational activity and entertainment activities within the country. Although betting regulations remain stringent, changing societal norms and the kingdom's priority to diversify the economy under Vision 2030 provides an environment to implement regulated betting systems. The kingdom has a deep sports culture, particularly for football and motorsport events, which could spur demand for betting services. The uptick in digital platforms and mobile betting apps have made betting more accessible, particularly as operators focus on developing products with secure and transparent payment solutions. With the popularity of events such as the Saudi Sports Show and the increasing number of international sporting events hosted in Saudi Arabia, interest is rising as practical betting emerges as a growth area.

Technologies, like using blockchain to make payments secure, are helping to determine the future of sports betting in Saudi Arabia. These technology enhancements increase trust and efficiency in betting, particularly with regard to concerns with fraud and security of data in the system. A young, tech-savvy population with a lot of internet use supports online bet platforms, especially for esports and live betting. Even with all these benefits, ingraining responsible betting practices into what will need to be a regulated environment, because of cultural and societal sensitivities, is important for acceptance. The government would like the entertainment industry to invest globally, and the regulated market will have positive overall economic impacts if it occurs. The future direction of the market will depend on how it can simultaneously foster innovation while maintaining compliance, but it will make for an interesting space to monitor as it continues to develop.

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Saudi Arabia Sports Betting Industry Segmentation:

The report has segmented the market into the following categories:

Platform Insights:

● Offline
● Online

Betting Type Insights:

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

Sports Type Insights:

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

Regional Analysis:

● Northern and Central Region
● Western Region
● Eastern Region
● Southern Region

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key highlights of the Report:

● Market Performance (2019-2024)
● Market Outlook (2025-2033)
● COVID-19 Impact on the Market
● Porter's Five Forces Analysis
● Strategic Recommendations
● Historical, Current and Future Market Trends
● Market Drivers and Success Factors
● SWOT Analysis
● Structure of the Market
● Value Chain Analysis
● Comprehensive Mapping of the Competitive Landscape

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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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This release was published on openPR.