Sports Betting Market Size, Share, Growth, and Industry Analysis, By Type (Fixed-Odds Wagering, And, E-Sports Betting), By Application (Online Platforms, Physical Betting, And, Shops), and Regional Forecast To 2033

SPORTS BETTING MARKET OVERVIEW

The global sports betting market size was USD 67.12 billion in 2025 and is projected to touch USD 150.66 billion by 2033, exhibiting a CAGR of 9.4 % during the forecast period.

Sports betting is a form of wagering on the results of a sports event, as it can be football and basketball or horse racing and e-sports. It is a fast-growing international business with growing digital access, law changes and fan participation. There is a myriad of bets Bettors can make such as moneyline, point spread, and parlays. It has enhanced participation with the occurrence of technological developments like the mobile application and live betting. Although sports betting provide fun and can lead to profit-making, there are issues of addictions, match rigging and accountability that make some governments to consider grading it with tighter controls in their areas.

Key Findings

• Market Size and Growth: The global sports betting market size was USD 67.12 billion in 2025 and is projected to touch USD 150.66 billion by 2033, exhibiting a CAGR of 9.4 % during the forecast period.

• Key Market Trends: Live in-play betting accounted for over 40% of all wagers placed in 2024, driven by AI-based odds and real-time engagement.

• Key Market Drivers: Over 70% of bets in 2024 were placed via mobile apps, showing rapid consumer shift to mobile-first experiences.

• Technological Advancements: Nearly 60% of major platforms integrated AI and automated analytics by 2024, enhancing real-time betting and fraud detection.

• Regional Growth: North America saw a 3x increase in state-level sportsbook legalization between 2018 and 2024, making it one of the fastest-growing regions.

• Type Segmentation: Fixed-odds wagering made up 65% of total bets placed in 2024, maintaining dominance over emerging formats.

• Application Segmentation: Online platforms facilitated over 80% of total betting volume in 2024, far surpassing physical outlets.

• Key Players: Companies like Bet365, DraftKings, Flutter Entertainment, and FanDuel collectively held over 55% of market share in 2024.

COVID-19 IMPACT

"Severely Disrupted Sports Betting By Halting Major Leagues, Delaying Fixtures And Eliminating Live Wagering Opportunities During Pandemic Decreased Market Growth"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Major COVID-19 effects on sports betting were the disruption of major leagues and a delay of fixtures as well as inability to place live-stream sport bets. The betting platforms faced a severe loss in revenue early in 2020 as most events got canceled or postponed. To keep them occupied, many operators now shifted to virtual sports, e-Sport and niche markets. With sports coming back in many cases without spectators, the amount of bets started to increase as people needed to relive their urge and the in-play markets. Yet the pandemic was also a cause of vulnerability: new schedules confounded odds-makers and economic pressure on operators resulted in consolidation of the industry. Finally, COVID-19 has stimulated the sort of innovation in service provisions and risk management which has redefined the playing field in sports gambling.

LATEST TRENDS

"Micro‑Bets on Events like Next Goal or Foul—Driven By AI-Powered Analytics to Drive Market Growth"

The other key trend in the sports betting world is the rampant increase of live, in-play betting wherein customers place a wager on the results of the game as it is played. This is stoked by an accelerated ability to process data, computerized odds by AI, and enhanced mobile experience. Placing bets using crypto-currencies is also becoming a popular alternative, as transactions are eased and reduced in terms of security. It is worth noting that e-sports and virtual sports keep getting more popular with younger generations, which is complemented by the social nature of betting over websites. Slowly, there is a venture into augmented reality and VR as a way of improving user experience. At the same time, the tools of responsible gambling are also developing, which guarantee an opportunity to bet in a safer context with an increase in speed in the industry. All these trends are creating new opportunities for growth and development in sports betting market share.

SPORTS BETTING MARKET SEGMENTATION

BY TYPE

Based on type, the global market can be categorized into fixed-odds wagering, and, e-sports betting

• Fixed-Odds Wagering: Fixed-odds betting entails betting with pre-set odds i.e. the payouts that can be won are determined at the time of the betting. It is the most conventional type of sports betting, which gives stability and is also clear both to a novice bettor and to an experienced one.

• E-Sports Betting: e-Sports betting enables gamers to gamble on match tournaments in video games such as Dota 2, CS: GO, and the League of Legends. It has recently emerged as a very fast-growing sector of the global sports betting business, as its popularity has exploded, among younger audiences.

BY APPLICATION

Based on application, the global market can be categorized into online platforms, physical betting, and, shops

• Online Platforms: Online betting involves convenient access to sports betting via websites and mobile applications, it is live betting, and there are several markets available, and business is classified as secure. They have been fuelled by the digital innovations, ease of use and access worldwide.

• Bricks and Mortar Betting Shops: Betting offices provide a real betting experience in the form of live screens, counters, and interaction with others. Though under threat of digital platforms, they are nonetheless still popular in the regions where the culture of traditional betting is strong.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities, and challenges, stating the market conditions.

DRIVING FACTORS

"Digital Transformation and Mobile Accessibility to Boost the Market"

There are several elements inspiring the sports betting market growth. Digital technology has grown tremendously due to the high rate at which digital technology has developed, thus making it easy to expand sports betting. Betting has never been so easy with mobile applications, live updates and simple payment channels. Smart-phones enable users to make bets at any moment in any location and leading to increased user interaction. The combined use of AI and analytics also contributes to the realization of individual experiences, better satisfying customers. In-play betting options and push notifications are also provided, making the experience even more enriched with live streaming. Incorporating digital transformation, it remains a primary driver of the industry growth as internet penetration continues to expand to not only tendencies of advanced economies but also in the world emerging markets.

"Legalization and Regulatory Reforms to Expand the Market"

Passing lawful status on sports betting in a number of countries has become a major stimulus of the industry. Governments are realizing the prospect of tax collection and legalization of untaxed markets. In the case of the U.S., example, the repeal of PASPA in the year 2018 gave opportunities to states to regulate the issue, which has led to enormous growth. The legal systems also help to increase the number of consumer protection and develop trust in the sector. The clear regulation has been very appealing to significant investments and affiliations such as with the sports leagues, as well as broadcasting corporations, establishing new forms of revenue and normalizing betting, including its social acceptability.

RESTRAINING FACTOR

"Regulatory Challenges and Ethical Concerns Impede Market Growth"

Although the sports betting industry is expanding, it is highly limited by vague legal settings and moral issues. The entry and growth of the market could be hampered through strict laws, license barriers and varied regulations in different regions. Betting has been going on illegally or heavily discouraged in some countries which minimizes potential growth. Also, there are issues of problem gambling and addiction as well as the threat of match-fixing that leave the sport under the light of scrutiny amongst the populace and political sectors alike. Such can be the cause of higher compliance prices, advertising prohibited, and stricter controls, which makes the operators hard to expand or preserve a good profitability in specific markets. These factors can hinder the growth of the market.

OPPORTUNITY

"Technological advancements and market expansion to Create Opportunity for the Product in the Market"

Sports betting business has unlimited expansion opportunities on the basis of technological change and geographical market penetration. These new developments are artificial intelligence, block-chain, and data analytics, which are enhancing the user experience, mitigate fraud, as well as provide personalized bet-types. Use of mobile platforms, as well as live betting, keeps engagement alive. Resurgent markets of Asia, Africa, and Latin America are frontier markets with a lot of potential since more and more citizens are getting access to the internet and the changes in the regulatory environments are developing. Since the industry is showing signs of legalization and regulation in more countries, operators are able to cooperate with local partners in order to create a unique content, use the current popularity of e-sports and virtual sports to drive their growth. These factors create significant opportunities in the market.

CHALLENGE

"Addiction Risks and Market Saturation  to Be a Potential Challenge for Consumers"

Sports bets are beleaguered with, among other things, the danger of being addicted to gambling and the aspect of market saturation. Precisely because the online version of gambling is so convenient and the restrained forms of gambling are observed all the time, some fear that this comes to compulsiveness, which makes us suppose that some actions should be implemented to restrain the responsible gambling. The countries are under increasing pressure to be regulated, and they are even imposing advertising and stake restrictions in some areas. Also, the market is getting flooded with several platforms, heightening competition and lowering profits. Ensuring that users remain loyal and conform to the existing laws of diverse nations and also investment in security and fairness measures as some of the main obstacles in sustainable growth and veracity in the industry. Such challenges must be addressed as soon as possible.

SPORTS BETTING MARKET REGIONAL INSIGHTS

• NORTH AMERICA

With the repeal of the PASPA in 2018, sporting bets have grown exponentially in North America, especially the United States Sports Betting Market. Most states have made online and retail sportsbooks legal and continue to open them, which drew significant operators and investors. The investments made by betting firms in the partnerships with the professional sports leagues are improving legitimacy and fan interest levels. The incorporation of the live streaming, mobile applications and real-time statistics has expanded the participatory inputs of the users. Single-event betting, too, had a very wise headway in Canada. This dynamic legal environment has been shaping up a competitive and innovation-driven market place with huge revenue generation and economic contribution.

• EUROPE

Europe still forms one of the most developed and controlled gambling on sports markets in the world. The area benefits from a rich tradition of sports betting, as the use of online technologies and mobile applications is great. U.K., Italy and Spain are some of the countries which have put in place regulatory regimes that encourage innovation and, at the same time, encourage responsible gambling. Nevertheless, operators are being increasingly subject to regulatory watchdogs, restrictive advertising policies as well as stricter maxims on bonuses and promotions. All these obstacles notwithstanding, Europe has remained a pace-setter in matters related to product innovation, live-bet functionality, and multiplatform consolidation, thus making it as the checkmark of international sport betting standards.

• ASIA

Asia Pacific is also an exciting and highly expansive sports betting industry with the number of smart phones, internet connectivity and focus on international sports competition rising steadily. The countries such as India, the Philippines, and Australia play a significant role, and their number of users concerned with online and mobile betting tends to grow up. Regulatory environments do differ considerably (in extremes going all the way to a complete ban, and on the opposite, complete legalization of operations), but especially when it comes to cricket, it is popular in football, and e-sports, it is strong. There is also innovation in a mobile-first domain and digital wallets in the region. Nevertheless, the existence of regulatory ambiguity and unlawful betting activities still pose as an issue to the long-term market growth.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The growth of the hydrogen manufacturing and hydrogen refueling station market is driven by what leading firms do to improve their strategies and expand. They are adopting new and improved approaches to raise the quality of their products. They are making more varieties of their products to suit different customers’ tastes. They are also counting on online platforms to offer their products to greater numbers of customers and make their distribution more efficient. Investment in research and development, better use of their supply chain, and exploring regional areas help these companies to improve and move the sector forward.

LIST OF TOP SPORTS BETTING COMPANIES

• Flutter Entertainment (Ireland)
• Entain (U.K.)
• DraftKings (U.S.)
• FanDuel (U.S.)
• Caesars Entertainment (U.S.)
• William Hill (U.K.)
• Bet365 (U.K.)
• 888 Holdings (U.K.)
• Paddy Power (Ireland)
• Unibet (Sweden)

KEY INDUSTRY DEVELOPMENT

May 2025: One of the major trends related to the sports betting market is the development of artificial intelligence and automated analysis of real-time data that will improve the experience of users and efficiency in operations. With the help of artificial intelligence, new platforms provide custom betting recommendations, forecasting odds, and automatic customer service, which results in the higher engagement and retention of the users. Real-time data makes it possible to bet in play where the odds are constantly changing as the user bets during ongoing events. The technology equally assists in detection of fraud and management of risks. With the current trend in the mainline industry and rising competency, operators find it important and necessary to heavily invest in such tools in order to achieve competent software advantage and address the changing consumer needs of quick, smart and safe betting platforms.

REPORT COVERAGE

SWOT analysis is presented in this work at a high level, and helpful recommendations regarding further evolvement of the market are considered. This paper takes an opportunity to review and discuss the market segments and possible applications that have the potential to influence the market growth in the future years. The work uses both, the data regarding the modern state of the market and the information on its evolution to identify the possible development trends.

The hydrogen manufacturing and hydrogen refueling station with better portability is expected to gain high growth rates due to better consumer adoption trends, increasing application areas, and more innovative product developments. Yet, there might be some problems like, for instance, the shortage of raw materials or higher prices for them However, the growing popularity of specialized offerings and tendencies towards enhancing quality foster the growth of the market. All of them are progressing through technology and innovative strategies in developments as well as in supply chain and market. Due to changes in the market environment and growing demand for variety, the hydrogen manufacturing and hydrogen refueling station has a promising development since it constantly develops and expands its application.