Online Sports Betting Market is Estimated to Grow USD 173.45 Billion by 2035, Reaching at a CAGR of 12.82%

Online Sports Betting Market is expected to increase at a compound annual growth rate (CAGR) of 12.82% between 2025 and 2035, from USD 51.91 billion in 2025 to USD 173.45 billion by 2035, according to a recent report released by Market Research Future (MRFR).

The Online Sports Betting Market has experienced explosive global growth over the past decade, catalyzed by widespread internet access, smartphone adoption, technological advances in mobile apps, and shifting legal landscapes that are progressively recognizing digital wagering platforms. This market encompasses wagers placed on sporting events through online or mobile platforms rather than traditional physical sportsbooks. Online sports betting now represents one of the fastest‐growing verticals within the broader online ecosystem, with revenues surging across major regions including North America, Europe, and the Asia‐Pacific. According to recent research, football led the online sports betting segment with over 35% share in 2025, and live (in‐play) wagering accounted for more than 62% of the market size, reflecting consumer preferences for real‐time engagement and dynamic odds adjustments during matches. North America is projected to record the fastest compound annual growth rate (CAGR) through 2031, while Europe currently captures over half of global revenue.

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Market Segmentation

The Online Sports Betting Market is segmented by sport type, betting type, platform, and geography. By sport type, football, tennis, basketball, horse racing, and cricket dominate most betting volumes, with football historically holding the largest share. Cricket betting retains significant traction in regions such as South Asia where the sport commands fervent fanbases eager to wager on series, leagues, and international tours. By betting type, live or in‐play betting continues to expand rapidly - representing the majority share as bettors increasingly engage with real‐time opportunities to place wagers during game progression. Platform segmentation shows a divergence between desktop and mobile users, although mobile betting apps are forecasted to grow at a faster CAGR due to improved usability and on‐the‐go convenience. Turnover is also analyzed geographically, with Europe and North America collectively accounting for the lion's share of revenue, while emerging markets across Asia‐Pacific and Latin America present significant future potential.

Market Drivers

Several key factors are driving the exponential rise of online sports betting globally. First, increased smartphone penetration, improved internet connectivity, and digital payment integrations have made it far easier for consumers to access betting platforms from anywhere, boosting participation rates. Industry research highlights that mobile betting applications will register high CAGR growth as convenience continues to shape consumer behaviour. Second, technological innovation, including live streaming, real‐time data analytics, and personalized user experiences, enhances engagement and retention. Third, the popularity of major sports events like the FIFA World Cup, UEFA competitions, NFL seasons, and global cricket leagues fuels betting volumes, especially during peak tournaments where demand spikes sharply. Fourth, regulatory liberalization in several regions, particularly across parts of North America and Europe, has enabled the launch of regulated platforms that attract both operators and bettors seeking legal, secure wagering channels.

Market Opportunities

The Online Sports Betting Market continues to present a wealth of opportunities for new entrants and incumbents alike. Emerging markets in Asia‐Pacific, Africa, and Latin America are increasingly connected digitally, opening vast untapped audiences with rising disposable incomes and enthusiasm for sports betting. The integration of e‐sports betting provides additional growth avenues as competitive gaming attracts a younger demographic that actively engages with digital wagering. Operators can leverage data analytics and AI to tailor odds, deliver targeted promotions, reduce churn, and boost lifetime customer value. Expansion of live betting offerings and multi‐sport platforms will attract diverse bettors seeking varied engagement options, while partnerships with major sports leagues and media brands can expand user bases and build brand credibility. Another significant opportunity lies in the growing use of cryptocurrency payments, which can reduce transactional friction and attract tech‐savvy bettors globally.

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Market Challenges

Despite robust growth, the Online Sports Betting Market faces substantial challenges. Regulatory uncertainty is one of the most significant barriers, particularly in markets like India where recent legislation such as the Promotion and Regulation of Online Gaming Act, 2025 seeks to regulate - and in some aspects criminalize - certain forms of online wagering. This has led to business closures for some platforms and significant legal scrutiny across entertainment and sports industries. In countries with restrictive laws, bettors often resort to offshore platforms, complicating compliance and consumer protection efforts. Another challenge is the ethical and social impact of easy access to betting, which can lead to problem and financial issues among vulnerable populations, drawing criticism from policymakers and advocacy groups. Additionally, intense competition among operators can depress margins and require heavy investment in marketing, technology, user acquisition, and retention strategies - a dynamic seen in major markets where companies like BetMGM and DraftKings continuously raise forecasts to reflect strong growth amid stiff rivalry.

Market Key Players

The competitive landscape of online sports betting includes a mix of global operators and regional platforms. Major international players such as Bet365, BetMGM, DraftKings, William Hill, Flutter Entertainment, Entain PLC, and Caesars Entertainment dominate many regulated markets, leveraging strong brands, technological platforms, and extensive sports portfolios. These operators offer diverse betting options, including live wagering, mobile apps, and sophisticated odds markets across sports. Additionally, regional platforms such as 8MBets and Magar33 play a significant role in localized markets like Bangladesh and Nepal, catering to specific customer preferences with sports betting and products tailored to local tastes and payment methods. Emerging companies such as CrPati365 also showcase expansion into ASEAN and South Asian markets, reflecting the broader globalization of online sports betting services outside traditional strongholds.

Regional Analysis

Geographically, Europe remains a powerhouse in online sports betting, holding over 50% of global revenue share as of 2025, backed by mature regulatory frameworks and widespread adoption of digital betting platforms across EU member states. North America is forecasted to experience the fastest CAGR through 2031 as legalization continues to expand among U.S. states and Canadian provinces, driving substantial new influxes of bettors in regulated environments. Asia‐Pacific presents immense long‐term potential, though regulatory diversity and legal ambiguities - such as the online gaming laws evolving in India - pose both opportunities and risks for operators. Meanwhile, Latin America has shown rapid adoption in countries like Brazil and Argentina, where recent regulatory changes have opened doors for licensed operators and international firms seeking market entry. Africa is another emerging hotspot, driven by young demographics and rapidly improving internet access, though operators must navigate regulatory fragmentation and payment infrastructure challenges.

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Industry Updates

Recent industry developments reflect both market growth and regulatory upheaval. In the United States, operators like BetMGM have raised full‐year revenue forecasts for 2025 after reporting strong performance in online sports betting and iGaming, highlighting continued expansion and consumer engagement in regulated markets. Conversely, in India and other jurisdictions, increased governmental scrutiny and new regulatory frameworks - such as bills criminalizing certain forms of - have reshaped the competitive environment, leading to shutdowns of real‐money gaming verticals and enforcement actions against unlicensed platforms and their promoters. These contrasting trends underscore the dual nature of the market: robust commercial expansion in some regions and tightening legal conditions in others.

Future Outlook

The future outlook for the Online Sports Betting Market remains optimistic, with sustained growth anticipated through the end of the decade and beyond, driven by technology adoption, expanding legal markets, and the popularity of sports entertainment worldwide. Analysts forecast continued expansion of mobile betting, live wagering, and integration of advanced analytics and AI to enhance personalization and user experience. While regulatory and ethical challenges persist, market maturation will likely bring more standardized frameworks that balance consumer protection with commercial innovation. The rise of adjacent segments such as e‐sports betting and virtual sports wagering will further diversify revenue streams. As global sports viewership continues to rise, online sports betting is positioned to become an even more ingrained component of the digital sports economy, reshaping fan engagement and monetization while attracting continued investment from strategic players across the tech and sectors.

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