Press release
South Korea Sports Betting Market Size Growth, Industry Share & Forecast 2033
South Korea Sports Betting Market Overview
The South Korea sports betting market size was valued at USD 1,964.53 Million in 2024 and is projected to reach USD 4,110.80 Million by 2033, growing at a CAGR of 8.55% during 2025-2033. The growth is driven by widespread smartphone use and fast internet enabling easy access to .
Additionally, tech-savvy young adults engaged with digital platforms and social media bolster the market's expansion. For more detailed insights, visit the South Korea Sports Betting Market
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Study Assumption Years
Base Year: 2024
Historical Year/Period: 2019-2024
Forecast Year/Period: 2025-2033
South Korea Sports Betting Market Key Takeaways
Current Market Size: USD 1,964.53 Million (2024)
CAGR: 8.55%
Forecast Period: 2025-2033
The growing popularity of sports such as football, baseball, basketball, and esports in South Korea increases fan engagement and betting activities.
The sports and outdoor market reached ₩5.3 Trillion KRW (about USD 3.9 Billion) in 2024, reflecting expanding interest in sports.
High internet and mobile penetration with 69.2 Million active cellular mobile connections in early 2025 facilitates convenient .
Rising youth interest, with 7.63 Million young people (aged 9 to 24) representing 14.8% of the population as of May 2025, boosts market growth.
platforms offer mobile-friendly features like live updates, in-play betting, and loyalty rewards, attracting tech-savvy users.
South Korea Sports Betting Market Growth Factors
The growing popularity of sports in South Korea is a significant driver of the sports betting market. In 2024, the sports and outdoor market reached ₩5.3 Trillion KRW (approximately USD 3.9 Billion). Increasing fan engagement in local and international sports such as football, baseball, basketball, and esports fuels interest in betting. As sports events are widely broadcast in real-time on television and online platforms, fans are encouraged to place bets driven by emotional connections to teams and players, fantasy leagues, and pre-match analysis promoting confident wagering.
High internet and mobile penetration also contributes substantially to the market's growth. As reported by DataReportal, South Korea had 69.2 Million active cellular mobile connections in early 2025. The availability of fast and reliable internet enables easy access to platforms at any time and anywhere. The widespread use of smartphones allows users to place bets, check live scores, and participate in betting on the go. Mobile apps provide enhanced user experience through instant notifications, live streaming, and in-play betting options, attracting more frequent participation, especially among tech-savvy users.
Youth interest is another key growth factor affecting the South Korea sports betting market. Young adults, highly engaged with sports, technology, and online entertainment, find sports betting a fun and interactive activity. As of May 2025, South Korea's youth population (aged 9 to 24) was 7.63 Million, comprising 14.8% of the total population. This demographic's active participation in digital platforms, combined with peer recommendations and appealing mobile betting features such as live stats and real-time updates, significantly propels market growth.
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South Korea Sports Betting Market Segmentation
Platform Insights:
Offline: Traditional physical betting venues.
Online: Digital platforms facilitating sports betting remotely, featuring live updates and app-based convenience.
Betting Type Insights:
Fixed Odds Wagering: Betting with predetermined odds.
Exchange Betting: Betting against other individuals.
Live/In Play Betting: Placing bets during the live progression of a sports event.
Pari-Mutuel: Betting pooled among participants.
eSports Betting: Betting on competitive video gaming events.
Others: Includes other forms of sports betting not specified above.
Sports Type Insights:
Football: Betting on various football events.
Basketball: Involves basketball-related sports betting.
Baseball: Betting activities on baseball matches.
Horse Racing: Betting linked to horse racing events.
Cricket: Involves bets related to cricket.
Hockey: Betting activities focused on hockey games.
Others: Other sports types not specifically listed.
Regional Insights
The report segments the regional market into Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region), and others. Specific market share statistics or CAGR by region are not provided in the source. The comprehensive regional analysis allows understanding of the market spread across major South Korean regions.
South Korea's sports betting activities are extensively dispersed with Seoul Capital Area likely being the dominant region due to its urban concentration and technological infrastructure, facilitating strong digital platform engagement.
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Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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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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