Online Sports Betting Market Report and Forecast 2025-2034

The global online sports betting market size was approximately USD 66.91 Billion in 2024. The market is assessed to grow at a CAGR of 10.20% between 2025 and 2034, reaching a value of USD 176.73 Billion by 2034.

Key Trends in the Market

When two or more people on the internet risk money on the outcome of a sporting event, they are said to be engaging in online sports betting. This bet can be made on either an athlete’s/team’s statistical performance or on the number of runs a team is expected to score in an event. The amount of money that can be won from a bet depends on multiple factors, including the amount of money wagered or the sportsbook an individual chooses to use, among others.

• Some key online sports betting market trends include rising concerns regarding fraud on sports betting websites and the increasing focus on enhancing the safety of online betting. Hence, key players are deploying technologies like artificial intelligence tools to analyse a user’s historical betting patterns, player performance, and social media sentiment to detect potential fraud.
• The growing popularity of esports or competitive video gaming due to its accessibility is expected to create lucrative opportunities for the global online sports betting market growth in the forecast period. Various online gambling and betting sites facilitate esports online betting while offering live and pre-match betting odds.
• Online sports betting companies are partnering with social media influencers to promote their products and services by leveraging the trust these influencers have built within their followers. The increasing awareness of online betting and the development of safe online gaming communities that comply with government regulations and implement safety warnings are positively influencing the online sports betting market demand.

Market Analysis

The report titled “Online Sports Betting Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Betting Type

• Fixed Odds Wagering
• Live/In-Play Betting

Market Breakup by Sports Type

• Football
• Cricket
• Basketball
• Baseball
• Horse Racing
• E-Sports
• Others

Market Breakup by Device

• Desktop
• Mobile

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Market Share by Device

As per the global online sports betting market analysis, mobile phones are an easy and efficient method for placing bets. Unlike desktop devices, they are portable and can access 5G mobile data and Wi-Fi simultaneously. They can also be used to research game news and team history on-the-go and place a bet during live games.

To enhance user experience, the website interface of most sports betting companies is designed to display a clear view of an individual’s betting odds, game scores, and the wager’s outcome, on mobile phones, supporting individuals in making decisions quickly and easily. The unparalleled flexibility provided by mobile phones also makes them a popular choice for bet placing.

Market Share by Region

Europe and North America represent a significant portion of the global online sports betting market share. This is due to the growing interest of all age groups in online gambling and the legalisation of gambling across many European countries such as Ireland, France, and Denmark, among others, and the US states such as New York, Illinois, Ohio, and Nevada, among others.

The growing per capita income of the working population and the surging accessibility to the internet are also boosting the acceptance of online betting across these regions. The burgeoning hardware and software innovations are likely to further support this trend and the demand for online sports betting is expected to increase significantly in the forecast period.

Competitive Landscape

The comprehensive report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global online sports betting market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

888 Holdings Plc

888 Holdings Plc, founded in 1997 in Gibraltar, the UK, is one of the world’s leading betting and gambling companies. It owns and operates internationally renowned brands like 888casino, 888sport, 888poker and Mr. Green. It acquired William Hill, an international gambling company, in 2022 to enhance its pan-European footprint and ensure international diversification of revenue. It develops state of the art technology and content rich products that provide the best gaming experiences to people worldwide.

Tabcorp Group

Tabcorp Group, founded in 1994 in Melbourne, Australia, is the largest gambling company in Australia and provides a portfolio of iconic products and services like TAB, SKY, and MAX. Apart from operating betting and gambling shops, it also broadcasts expert analyses of racing and sports programmes internationally and provides gaming services to people.

Wynn Resorts, Limited

Wynn Resorts, Limited was founded in 2002 and is headquartered in Nevada, United States. It engages in the ownership, management, and development of destination casino resorts. It operates through many segments, which include Wynn Macau, Wynn Palace, Las Vegas Operations and Encore Boston Harbor. It is traded on the NASDAQ Global Select Market under the ticker symbol of WYNN and is a part of the S&P 500 Index.

Other key players in the global online sports betting market include Entain PLC, MGM Resorts International, Boyd Resorts International, Light & Wonder, Inc., Penn Entertainment, Inc., Kindred Group PLC, and The Stars Group, among others.