Online Sports Betting Market

Industry Overview

The global Online Sports Betting Market size is estimated at USD 75.06 billion in 2024 and is estimated to reach USD 85.42 billion in 2025 and is predicted to reach USD 163.04 billion by 2030 with a CAGR of 13.8% from 2025-2030.

The market is experiencing robust growth driven by widespread internet access, rising smartphone adoption, and advancements in secure, user-friendly payment solutions. Expanding legalization and well-defined regulatory frameworks in various regions are fostering a safe and transparent betting environment, attracting both consumers and reputable operators.

Enhanced mobile platforms with real-time updates and seamless transactions have made betting more convenient, boosting user engagement. However, market growth is restrained in regions with strict regulations or outright bans, limiting accessibility and slowing expansion. 

Emerging technologies such as AI, blockchain, and VR are set to transform the user experience, offering personalized, transparent, and immersive betting opportunities, thereby unlocking new avenues for revenue generation and competitive differentiation.

Widespread Internet and Smartphone Penetration Drives the Market Growth

The rapid expansion of mobile connectivity has made online sports betting accessible to a broader audience, enabling users to place bets anytime and anywhere. According to Pew Research Center in 2024, 98% of Americans now own a cell phone, with about 91% owning a smartphone.

This widespread adoption of smartphones, coupled with reliable internet access, enables users to place bets anytime and anywhere through mobile-friendly platforms. With enhanced app interfaces, real-time match updates, and seamless payment integration, betting has become more convenient, encouraging frequent participation and fuelling the online sports betting market growth.

Legalization and Regulatory Support Fuels Market Expansion

The gradual legalization of sports betting across various countries and states has been a major catalyst for the market growth. Clear regulatory frameworks not only create a safe and transparent environment for bettors but also attract reputable operators to invest and expand their services. Legalized markets encourage consumer confidence by ensuring fair play, responsible gambling measures, and protection of user data.

Moreover, government licensing and taxation systems generate significant public revenue, prompting more jurisdictions to embrace regulation. Thus, the increasing acceptance is widening the customer base and accelerating the adoption of online sports betting worldwide.

Advancements in Payment Solutions Boost the Market Demand

The evolution of secure and versatile payment systems has played a key role in boosting the online sports betting market demand. According to the Australian Banking Association in 2024, the RBA’s latest monthly retail payments data shows that more than 500 million payments were made via mobile wallets in October, totalling over USD 20 billion. This surge in mobile wallet usage reflects a growing consumer preference for fast, secure, and convenient transactions.

Online betting platforms leveraging such payment technologies offer seamless deposits and withdrawals, enhanced security through encryption, and reduced transaction times. These improvements build user trust, encourage frequent betting activity, and make the market more accessible to a wider audience.

Regulatory Restrictions in Certain Regions Limits the Market Growth

Despite growing legalization in some markets, strict regulations or outright bans in various countries remain a significant restraint for the industry. In regions where betting is prohibited or heavily restricted, operators face challenges in reaching potential customers, and users resort to unregulated or illegal platforms, raising concerns over security and fairness.

Complex licensing requirements, high compliance costs, and varying legal frameworks across jurisdictions also hinder seamless global expansion. These restrictions not only limit market penetration but also slow down innovation and investment in the sector.

Integration of Emerging Technologies Creates New Growth Opportunities

The adoption of emerging technologies such as artificial intelligence (AI), blockchain, and virtual reality (VR) presents a major growth opportunity for the market. AI enhance personalized betting experiences through predictive analytics and tailored recommendations, while blockchain improve transparency, security, and payment efficiency.

VR create immersive, interactive environments where users virtually “attend” live matches and place bets in real time. By integrating these innovations, betting platforms differentiate themselves, attract tech-savvy audiences, and open up new revenue streams in an increasingly competitive market.

Market Segmentations and Scope of the Study

The online sports betting market report is segmented by betting type, operator type, platform, sports, payment method, end user, and region. By betting type, it includes fixed-odds betting, live/in-play betting, exchange betting, spread betting, pari-mutuel betting, e-sports betting, and others. By operator type, the market covers licensed sportsbooks, exchange platforms, and offshore operators. By platform, it includes mobile, desktop web, and other platforms. By sports, the market spans football/soccer, basketball, cricket, tennis, baseball, hockey, horse racing/horse riding, golf, auto racing, boxing, and others. By payment method, it includes bank/cards, e-wallets, and cryptocurrency. End users include licensed retail customers, app-first/digital native users, and offshore/international users. Regional analysis covers North America, Europe, Asia-Pacific, and the Rest of the World.

Geographical Analysis

In North America, the rapid legalization of sports betting at the state level is a major growth driver. More states are adopting clear regulatory frameworks that allow both retail and online wagering, creating a secure environment for bettors and encouraging reputable operators to enter the market. This expanding legal landscape, combined with a strong sports culture and partnerships with major leagues, is attracting more participants, boosting revenues, and accelerating the growth of the sector, in the region.

In Europe, well-established regulatory systems for online sports betting serve as a key growth driver. Many countries have clear licensing requirements, responsible gambling measures, and consumer protection policies that foster trust and encourage participation. This regulatory stability, combined with Europe’s deep-rooted sports culture, especially in football, tennis, and rugby, drives consistent demand for betting services. The widespread availability of multilingual, mobile-friendly platforms and competitive odds further enhances user engagement, supporting steady market expansion across the region.

In Asia Pacific, the surge in smartphone adoption and expanding internet access are making online sports betting increasingly accessible. According to Invest India in 2024, India alone has 660 million smartphone users, reflecting a penetration rate of 46.5%, with more people connected to the internet than ever before. This connectivity, combined with a growing middle-class population and higher disposable incomes, is driving greater participation in leisure activities, including sports wagering. The region’s strong fan base for cricket, football, and eSports, along with localized betting platforms catering to regional preferences, is further accelerating market growth.

In the rest of the world (RoW), the increasing popularity and commercialization of local and regional sporting events are driving engagement in the online sports betting market share. Tournaments such as regional football leagues in Africa, cricket championships in the Middle East, and basketball competitions in Latin America are attracting large audiences and creating new betting opportunities.

The rise of digital broadcasting and live streaming of these events allows fans to follow matches in real time, alongside integrated betting options. This localized sports enthusiasm, combined with expanding online access, is boosting market participation across emerging regions.

Strategic Innovations Adopted by Key Players

Key players in the online sports betting industry are actively strengthening their market presence by securing high-profile sports sponsorships and strategic partnerships to boost brand visibility and customer engagement. For instance, in July 2024, Parimatch announced an exclusive global partnership with the Argentine Football Association (AFA), one of the most prestigious football governing bodies worldwide. This move underscores a broader trend in the market, where operators are leveraging high-profile sports sponsorships to deepen customer engagement, enhance brand visibility, and accelerate expansion in emerging and football-driven markets.

Key Benefits

• The report provides quantitative analysis and estimations of the market from 2025 to 2030, which assists in identifying the prevailing industry opportunities.

• The study comprises a deep-dive analysis of the current and future online sports betting market trends to depict prevalent investment pockets in the market.

• Information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report.

• Competitive analysis of the key players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Online Sports Betting Market Key Segments

By Betting Type

• Fixed-Odds Betting

• Live / In-Play Betting 

• Exchange Betting

• Spread Betting

• Pari-Mutuel Betting

• E-Sports Betting

• Others

By Operator Type

• Licensed Sportsbooks

• Exchange Platforms 

• Offshore 

By Platform

• Mobile 

• Desktop Web

• Other Platforms 

By Sports

• Football / Soccer

• Basketball

• Cricket

• Tennis

• Baseball

• Hockey

• Horse Racing / Horse Riding

• Golf

• Auto Racing

• Boxing

• Others

By Payment Method

• Bank / Cards

• E-Wallets

• Cryptocurrency

By End User

• Licensed Retail Customers

• App-First / Digital Native Users

• Offshore / International Users

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia        

  • Rest of Europe 

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

Key Players

• Flutter Entertainment

• BC. GAME

• Entain

• TGM Research

• SGHC Ltd

• Betclic Group

• Rush Street Interactive

• Kaizen Gaming.

• Parimatch

• Betr

• Bally’s Corporation

• Sportsbet.io

• Interwetten Gaming Ltd

• BetOnline.ag.

• Bovada

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Market Size in 2025	USD 85.42 Billion
Revenue Forecast in 2030	USD 163.04 Billion
Growth Rate	CAGR of 13.8% from 2025 to 2030
Analysis Period	2024–2030
Base Year Considered	2024
Forecast Period	2025–2030
Market Size Estimation	Billion (USD)
Growth Factors	Widespread internet and smartphone penetration drives the market growth. Legalization and regulatory support fuels market expansion. Advancements in payment solutions boost the market demand.
Countries Covered	28
Companies Profiled	10
Market Share	Available for 10 companies
Customization Scope	Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.