Global Online Sports Betting Market Growth, Share, Size, Trends and Forecast (2025 - 2031)
By Sport Type;
Football, Basketball, Horse Racing, Baseball, E-Sports, and OthersBy Device;
Desktop and MobileBy Betting Type;
Fixed Odds Betting, Exchange Betting, Live Betting, and Parlay BettingBy Payment Method;
Credit/Debit Card, E-Wallets, Bank Transfer, and CryptocurrencyBy Geography;
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031)Online Sports Betting Market Overview
Online Sports Betting Market (USD Million)
Online Sports Betting Market was valued at USD 47,264.72 million in the year 2024. The size of this market is expected to increase to USD 118,822.07 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 14.1%.
Global Online Sports Betting Market Growth, Share, Size, Trends and Forecast
*Market size in USD million
CAGR 14.1 %
Study Period | 2025 - 2031 |
---|---|
Base Year | 2024 |
CAGR (%) | 14.1 % |
Market Size (2024) | USD 47,264.72 Million |
Market Size (2031) | USD 118,822.07 Million |
Market Concentration | Low |
Report Pages | 395 |
Major Players
- Betsson AB
- 888 holdings PLC
- GVC Holdings PLC
- Kindered group PLC
- Paddy Power Betfair PLC
- Cherry AB
- William Hill PLC
- The Stars Group
- BET 365
Market Concentration
Consolidated - Market dominated by 1 - 5 major players
Global Online Sports Betting Market
Fragmented - Highly competitive market without dominant players
The Online Sports Betting Market continues to grow as digital innovations reshape user experiences. Approximately 60% of betting activities have transitioned online, propelled by mobile penetration and seamless platform interfaces. This trend reflects the growing appeal of digital convenience and real-time sports wagering.
Smart Technologies Powering Personalization
Advancements like AI analytics and real-time betting enhancements have become integral, with over 55% of users preferring platforms that offer tailored content. These technologies not only increase user engagement but also drive higher betting frequency and long-term platform usage.
Emergence of Real-Time Betting Models
Real-time or in-play betting now contributes to more than 45% of all bets placed digitally. In addition, micro betting has surged by 30%, offering quick, outcome-based wagers. These formats enhance user excitement and provide more betting opportunities throughout live sports events.
Security and Regulation Enhancing Trust
Regulatory advancements and digital compliance protocols have increased transactional safety by over 40%. With secure payment gateways and strong identity verification systems, users are more confident, contributing to sustained growth and broader market adoption.
Online Sports Betting Market Recent Developments
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In December 2023, PointsBet launched new features for mobile sports betting, including in-play betting and live streaming, to enhance user engagement
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In January 2024, FanDuel expanded its online betting platform into additional states, capitalizing on the growth of legal sports betting across the U.S.
Online Sports Betting Market Segment Analysis
In this report, the Online Sports Betting Market has been segmented by Sport Type, Device, Betting Type, Payment Method, and Geography.
Online Sports Betting Market, Segmentation by Sport Type
The Online Sports Betting Market has been segmented by Sport Type into Football, Basketball, Horse Racing, Baseball, E-Sports and Others.
Football
Football dominates the online sports betting market, accounting for over 40% of the total share due to its global popularity and extensive league structures. Events such as the FIFA World Cup and UEFA Champions League attract massive betting volumes. Real-time betting options and live streaming integration further drive user engagement.
Basketball
Basketball holds a substantial portion of the market with around 20% share, particularly driven by leagues like the NBA and EuroLeague. The fast-paced nature of the sport supports in-play betting, which increases user activity and spending. Mobile platforms and fantasy integration are also enhancing participation rates.
Horse Racing
Horse racing remains a traditional favorite, contributing nearly 15% to the market. It benefits from a long-established betting culture and regulated betting environments. Seasonal events like the Grand National and Kentucky Derby continue to draw high betting volumes, especially in Europe and North America.
Baseball
Baseball contributes around 10% to the global online sports betting segment, with strong engagement in the U.S. and Japan. The game’s structure allows for varied bet types such as moneyline, run line, and prop bets. Seasonal leagues like MLB fuel consistent betting activity during active months.
E-Sports
E-Sports is a rapidly growing segment, currently accounting for approximately 8% of the online betting market. Titles like League of Legends, Dota 2, and CS:GO attract a younger demographic. The rise of live-streaming platforms and global tournaments significantly boost betting opportunities.
Others
This segment includes niche sports such as tennis, boxing, and golf, together contributing about 7% of the total market. These sports often gain traction during major events like Wimbledon or The Masters. Specialized bettors are drawn to these markets due to higher odds and detailed analytics.
Online Sports Betting Market, Segmentation by Device
The Online Sports Betting Market has been segmented by Device into Desktop and Mobile.
Desktop
Desktop-based online sports betting accounts for around 35% of the market. It is favored for its stable performance, larger screen interface, and multi-tab functionality, offering a more immersive experience. Despite the growth of mobile, desktops remain popular among serious bettors who prefer detailed analytics and live statistics.
Mobile
Mobile betting leads the market with approximately 65% share, driven by the widespread adoption of smartphones and betting apps. The convenience of betting on-the-go and features like push notifications, live streaming, and touch interface enhance user engagement. Mobile-first strategies are now central to platform growth and user retention.
Online Sports Betting Market, Segmentation by Betting Type
The Online Sports Betting Market has been segmented by Betting Type into Fixed Odds Betting, Exchange Betting, Live Betting, and Parlay Betting.
Fixed Odds Betting
Fixed odds betting holds the largest share, contributing over 45% to the online sports betting market. It offers predetermined odds that do not change once a bet is placed, making it appealing for risk-conscious users. Its simplicity and widespread availability across platforms support its dominance.
Exchange Betting
Exchange betting accounts for nearly 15% of the market and allows users to bet against each other rather than against a bookmaker. This model often offers better odds and increased flexibility, attracting experienced bettors who prefer greater control over their wagers.
Live Betting
Live betting, also known as in-play betting, represents around 30% of the market. It enables users to place bets during an ongoing event, enhancing engagement through real-time action. The integration of live data feeds and instant odds updates significantly contributes to its growing popularity.
Parlay Betting
Parlay betting contributes approximately 10% of the market and involves placing multiple bets that are linked together. It offers high-risk, high-reward opportunities, as all selections must win for the bet to pay out. This betting type attracts users seeking large payouts from small stakes.
Online Sports Betting Market, Segmentation by Payment Method
The Online Sports Betting Market has been segmented by Payment Method into Credit/Debit Card, E-Wallets, Bank Transfer, and Cryptocurrency.
Credit/Debit Card
Credit and debit cards remain a widely used payment method, accounting for about 35% of the online sports betting market. Their familiarity, quick processing times, and support across most platforms make them a go-to option. However, increasing regulations have limited their use in certain regions.
E-Wallets
E-Wallets such as PayPal, Skrill, and Neteller dominate with nearly 40% market share. They offer enhanced security, fast transactions, and seamless integration with betting apps. Their growing popularity is driven by user convenience and low transaction fees.
Bank Transfer
Bank transfers contribute around 15% of the market, favored for their high transfer limits and reliability. Though slower compared to other options, they are often preferred by high-stake bettors and in regions with limited digital payment access.
Cryptocurrency
Cryptocurrency is an emerging payment method, currently holding about 10% of the market. It provides anonymity, low fees, and borderless transactions, appealing to tech-savvy users. The adoption of coins like Bitcoin and Ethereum is growing as platforms embrace decentralized finance trends.
Online Sports Betting Market, Segmentation by Geography
In this report, the Online Sports Betting Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Regions and Countries Analyzed in this Report
Online Sports Betting Market Share (%), by Geographical Region
North America
North America holds a significant share of the online sports betting market, accounting for approximately 25%. The rapid legalization of sports betting in the U.S., especially post-2018, has driven strong growth. Increasing user base, mobile penetration, and partnerships with major leagues contribute to regional expansion.
Europe
Europe leads the global market with around 35% share, supported by well-established regulatory frameworks and high sports engagement. Countries like the UK, Germany, and Italy have mature betting ecosystems, and the popularity of sports like football and tennis fuels consistent growth.
Asia Pacific
Asia Pacific accounts for roughly 20% of the market, driven by rising internet access and smartphone adoption. Countries such as India, China, and Australia are key contributors. The region shows strong potential despite regulatory hurdles, especially with the rise of e-sports and mobile-first platforms.
Middle East and Africa
This region contributes nearly 10% to the market, led by growing digital infrastructure and youth population. While regulatory challenges persist, countries like South Africa and the UAE show increasing interest in online betting, supported by improvements in payment systems and smartphone usage.
Latin America
Latin America represents around 10% of the global share, with Brazil, Mexico, and Argentina emerging as key markets. The expansion of legal frameworks and strong fan bases for sports like football are fueling demand. Mobile penetration and localized platforms are driving growth in the region.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Online Sports Betting Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Comprehensive Market Impact Matrix
This matrix outlines how core market forces—Drivers, Restraints, and Opportunities—affect key business dimensions including Growth, Competition, Customer Behavior, Regulation, and Innovation.
Market Forces ↓ / Impact Areas → | Market Growth Rate | Competitive Landscape | Customer Behavior | Regulatory Influence | Innovation Potential |
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Drivers | High impact (e.g., tech adoption, rising demand) | Encourages new entrants and fosters expansion | Increases usage and enhances demand elasticity | Often aligns with progressive policy trends | Fuels R&D initiatives and product development |
Restraints | Slows growth (e.g., high costs, supply chain issues) | Raises entry barriers and may drive market consolidation | Deters consumption due to friction or low awareness | Introduces compliance hurdles and regulatory risks | Limits innovation appetite and risk tolerance |
Opportunities | Unlocks new segments or untapped geographies | Creates white space for innovation and M&A | Opens new use cases and shifts consumer preferences | Policy shifts may offer strategic advantages | Sparks disruptive innovation and strategic alliances |
Drivers, Restraints and Opportunities Analysis
Drivers:
- Increasing Smartphone Penetration
- Legalization of Online Betting
- Growing Popularity of Sports Events
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Expansion into New Markets - The steady expansion into new markets has become a pivotal driver for the online sports betting market. As regulations continue to evolve across various countries, more jurisdictions are beginning to legalize and formalize online sports wagering, opening up previously untapped regions. Governments that were once hesitant due to concerns around gambling addiction or integrity in sports are now recognizing the revenue-generating potential of licensed digital betting platforms. This regulatory shift is creating a surge in demand for global operators eager to establish a foothold in these newly accessible markets.
Regions in Latin America, Africa, and parts of Asia are increasingly attracting the attention of major industry players. With large populations of tech-savvy, mobile-first users, these markets offer substantial growth potential, especially in countries where smartphone penetration and internet accessibility are rapidly increasing. Operators that can tailor their offerings to local languages, currencies, and sporting preferences are gaining early traction and establishing brand loyalty ahead of competitors.
The growing adoption of cashless payments and digital wallets also supports this expansion, making it easier for users in emerging markets to fund their accounts securely. Many platforms are forming partnerships with local payment providers and sports organizations to build trust and relevance. Additionally, improved geo-targeting capabilities and AI-driven personalization allow betting apps to deliver highly localized content, which is vital in markets with diverse sports cultures.
This global reach not only expands revenue streams but also provides companies with protection against market saturation or legislative changes in individual regions. The diversification of jurisdictional risk means that setbacks in one country can be offset by growth in another. As such, strategic market entry and cross-border scalability have become essential components of long-term growth in the online sports betting industry.
Restraints
- Concerns About Addiction and Responsible Gambling
- Payment Processing Challenges
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Competition from Illegal Operators - Despite widespread growth, competition from illegal operators remains a major restraint in the online sports betting market. Unlicensed betting websites and offshore operators continue to attract users by offering unregulated promotions, higher payouts, and fewer restrictions. These platforms often operate beyond the reach of national laws, making enforcement difficult and allowing them to thrive in regions with weak or fragmented regulatory frameworks.
Illegal operators also undermine the credibility of the entire sector. They often lack responsible gaming tools, data security measures, and fair betting practices, putting consumers at risk. Yet, due to aggressive marketing tactics and anonymity in payment systems, many bettors—especially in countries with high taxation on legal betting—still prefer these grey market alternatives. This diverts significant revenue away from licensed businesses and reduces government tax income.
The presence of unregulated platforms creates a major challenge for legitimate operators who are bound by compliance rules, identity verification, and consumer protection mandates. This creates an uneven playing field where legal platforms must incur higher operational costs while their illegal counterparts cut corners to offer seemingly better deals. It also leads to consumer confusion, as casual users often struggle to distinguish between legitimate and unauthorized sites.
Addressing this issue requires coordinated international efforts, better public awareness campaigns, and stronger enforcement through technology-driven monitoring tools. Until these illicit actors are curbed effectively, they will continue to pose a significant threat to trust, safety, and profitability within the regulated online sports betting industry.
Opportunities
- Innovative Product Offerings
- Strategic Partnerships and M&A Activity
- Personalization and Customer Engagement
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Integration of Blockchain Technology - The integration of blockchain technology presents a transformative opportunity for the online sports betting market. Blockchain enables increased transparency, security, and efficiency in managing transactions and verifying outcomes. With the ability to record every bet and transaction on an immutable ledger, blockchain fosters trust among users who often question the fairness or reliability of traditional betting platforms. This technology can ensure that odds, results, and payouts are tamper-proof, leading to a higher level of user confidence and retention.
Another benefit is the introduction of cryptocurrency payments, which streamline deposits and withdrawals while enabling global participation without traditional banking restrictions. This appeals particularly to users in countries with underdeveloped financial systems or high remittance fees. Crypto transactions also provide anonymity and lower transaction costs, making betting more accessible and efficient for a wider audience. For platforms, blockchain minimizes fraud and chargebacks, ultimately improving profitability.
Smart contracts are also gaining traction as a blockchain application within the sector. These automated agreements can execute bet settlements instantly once predefined conditions are met, eliminating the need for intermediaries. This reduces operational overhead and enhances user satisfaction by delivering faster and fairer payouts. For large-scale tournaments or live betting, smart contracts can improve scalability and minimize disputes, thereby increasing platform reliability.
Decentralized platforms are starting to emerge, allowing peer-to-peer betting without a central authority. This not only democratizes the betting experience but also introduces new business models that empower users as stakeholders. As blockchain adoption increases and regulatory clarity improves, its integration will become a critical innovation point, helping operators gain a competitive edge in an evolving and digitally-native market landscape.
Competitive Landscape Analysis
Key players in Online Sports Betting Market include:
- Betsson AB
- 888 holdings PLC
- GVC Holdings PLC
- Kindered group PLC
- Paddy Power Betfair PLC
- Cherry AB
- William Hill PLC
- The Stars Group
- BET 365
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Market Share Analysis
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Sport Type
- Market Snapshot, By Device
- Market Snapshot, By Betting Type
- Market Snapshot, By Payment Method
- Market Snapshot, By Region
- Online Sports Betting Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
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Increasing Smartphone Penetration
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Legalization of Online Betting
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Growing Popularity of Sports Events
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Expansion into New Markets
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- Restraints
- Concerns About Addiction and Responsible Gambling
- Payment Processing Challenges
- Competition from Illegal Operators
- Opportunities
- Innovative Product Offerings
- Strategic Partnerships and M&A Activity
- Personalization and Customer Engagement
- Global Expansion
- Integration of Blockchain Technology
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Online Sports Betting Market, By Sport Type, 2021 - 2031 (USD Million)
- Football
- Basketball
- Horse Racing
- Baseball
- E-Sports
- Others
- Online Sports Betting Market, By Device, 2021 - 2031 (USD Million)
- Desktop
- Mobile
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Online Sports Betting Market, By Betting Type, 2021 - 2031 (USD Million)
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Fixed Odds Betting
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Exchange Betting
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Live Betting
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Parlay Betting
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Online Sports Betting Market, By Payment Method, 2021 - 2031 (USD Million)
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Credit/Debit Card
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E-Wallets
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Bank Transfer
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Cryptocurrency
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- Online Sports Betting Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Online Sports Betting Market, By Sport Type, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- Betsson AB
- 888 holdings PLC
- GVC Holdings PLC
- Kindered group PLC
- Paddy Power Betfair PLC
- Cherry AB
- William Hill PLC
- The Stars Group
- BET 365
- Company Profiles
- Analyst Views
- Future Outlook of the Market