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Sports Betting Market Forecast to Reach USD 233.76 Billion by 2032, Powered by 10.78% CAGR Growth in Online Platforms

Sports Betting Market

Sports Betting Market

According to a recent report, the global sports betting market was valued at USD 103.05 billion in 2024 and is projected to reach USD 233.76 billion by 2032, growing at a compound annual growth rate (CAGR) of 10.78%. Key growth factors include the legalization of sports betting across new regions, advancements in mobile and online platforms, and increased sports viewership globally.

► Get a sample of the report:https://www.maximizemarketresearch.com/request-sample/31896/

♦ Key Highlights

Expected market growth from USD 103.05 billion in 2024 to USD 233.76 billion by 2032 at a CAGR of 10.78%.

Online platforms dominate, accounting for 62.7% of market revenue in 2024 with significant growth projected.

North America leads the market, with the United States generating highest tax revenues and witnessing expansive legalization.

Major drivers include expansion of legal markets, rise of eSports betting, and increasing use of mobile apps.

Top players include Flutter Entertainment PLC, DraftKings Co., Entain PLC, MGM Resorts International, and Wynn Resorts Holdings.

♦ Market Outlook

The global sports betting sector is increasingly shaped by regulatory liberalization and rapid digital transformation. The rise of online and mobile betting platforms has made betting more accessible, particularly in developed markets like the US, UK, and Europe, but also expanding in emerging economies. Features such as live betting, in-play wagering, and integration with streaming services enhance user engagement. eSports betting is an emerging sub-segment driving further revenue pools.

► Get access to the full description of the report @https://www.maximizemarketresearch.com/market-report/global-sports-betting-market/31896/

♦ Regional Insights

North America anchors the global market, driven by the US where over 36 states have legalized sports betting. Tax revenues from sports betting have surpassed USD 5 billion nationally, with New York, New Jersey, and Illinois leading contributions. Europe benefits from deep-rooted sports culture and regulatory advances promoting responsible betting across countries like the UK, France, and Germany. Asia-Pacific presents rapid growth potential despite present internet infrastructure challenges, bolstered by huge populations and expanding digital connectivity.

♦ Key Players & Competitive Landscape

The market is characterized by robust competition among established operators and innovative tech entrants. Leading firms invest heavily in AI-driven personalization, AR and VR experiences, and regulatory compliance. Consolidation and partnerships between sports leagues and betting companies are increasingly common to merge fan engagement with wagering.

♦ Quote

"Legal sports betting is undergoing a revolutionary transformation driven by technology and progressive regulation. The opportunity to fuse real-time sports engagement with seamless betting platforms unlocks vast revenue growth and enhances fan experiences globally," said a senior market analyst.

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About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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