At what pace is the sports betting market growing, and what is its estimated value?
The sports betting market size has grown strongly in recent years. It will grow from $114.2 billion in 2024 to $124.39 billion in 2025 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to an increase in number of sports events, growth in millennial population, a rise in disposable income, and increasing access to smartphones and smart computing devices such as pcs, laptops.
The sports betting market size is expected to see strong growth in the next few years. It will grow to $153.71 billion in 2029 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to increasing focus of virtual sports betting, focus on product innovations, increasing adoption of 5G networks, increasing in mergers and acquisitions, urbanization, and an increase in internet penetration. Major trends in the forecast period include focus on adoption of augmented reality and virtual reality, focus on providing mobile betting services, focus on implementation of artificial intelligence in betting platforms, focus on increasing investment, focus on entering strategic partnerships, focus on the use of blockchain technology and focus on live streaming-integrated mobile sportsbook.
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Which Market drivers have played a significant role in driving the sports betting market?
The increase in the number of sports leagues and events is expected to propel the growth of the sports betting market. A sports league or an event is a group of clubs, countries, associations, or people trying to compete in a game for a championship or a title. These leagues are planned to happen in a particular schedule or during a particular season, in which all the teams or members are required to participate in naming an overall champion of the event or league. For instance, according to a study published by Wire, currently, more than 100 professional leagues in various sports are active across the globe. The establishment of new professional sports leagues across the globe is providing customers with the opportunity to diversify their betting expenditures. Therefore, the growing sports leagues and events are driving the growth of the sports betting market.
What are the key segments within the sports betting market?
The sports betting market covered in this report is segmented –
1) By Type: Live/In-Play, Fixed Odd Betting, Exchange Betting, Daily Fantasy, Spread Betting, Pari-Mutuel, Other Types
2) By Sports Type: Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, E-Sports, American Football, Other Sports Types
3) By Platform: Online, Offline
Subsegments:
1) By Live/In-Play Betting: Real-time betting during events, In-game betting options
2) By Fixed Odd Betting: Traditional betting with set odds, Pre-match betting on various outcomes
3) By Exchange Betting: Peer-to-peer betting platforms, Betting exchanges where users set their own odds
4) By Daily Fantasy Sports (DFS): Single-day contests, Season-long fantasy leagues
5) By Spread Betting: Betting against a spread or margin, Types include point spread and total points betting
6) By Pari-Mutuel Betting: Pool betting where payouts depend on the total amount wagered, Commonly used in horse racing
7) By Other Types: Proposition (Prop) Betting, Accumulator Betting, Teaser Betting, E-sports Betting
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Which key players are shaping the sports betting market?
Major companies operating in the sports betting market include Flutter Entertainment plc, Bet365 Group, Entain PLS, Caesars Entertainment, Kindred Group plc, Churchill Downs Incorporated, DraftKings Inc., Betsson AB, 888 Holdings, IGT, Dream11, 1xBet, 22bet, PureWin, 20Bet, Sattamatka5com, Go Winning, Wozo Gaming, FDJ – La Francaise des Jeux, Betclic Everest Group, Royal Panda, Lapalingo, Bet3000, Bayes Esports, Mail.ru Games, Lottohelden, FCwetten, Sazka, Synot Tip, Tipsport, winline.ru, FanDuel Sportsbook, BetMGM, Barstool Sportsbook, PointsBet, BetRivers, FOX Bet, Sporttrade Inc, SuperDraft Inc, BetWarrior, Bplay, William Hill, LSports Data, Mostbet, Bettilt, Shangri La Live, Parimatch, NetBet, Unibet.
Which transformative trends will shape the sports betting market landscape?
Major companies operating in the sports betting market are focusing on technological innovations, such as real-time betting and AI-driven platforms, to provide bettors with more engaging and dynamic wagering options and enhance real-time participation and user experience. Real-time betting, also known as in-play or live betting, allows bettors to place wagers on specific outcomes while a sports event is actively taking place, with odds and options constantly updating based on the game’s progress. For instance, in September 2024, Sportradar AG, a Switzerland-based sports company, launched micro markets, an in-play betting product offering granular, real-time betting options. The product leverages artificial intelligence (AI) and extensive data analytics to process hundreds of thousands of data points per match. This capability ensures that the betting options are not only diverse but also timely and relevant. This includes unique bets on specific events within a game, such as predicting the next point in tennis or the outcome of a serve. This new product allows bettors to engage with specific, short-term outcomes during sporting events, significantly increasing the number of available betting opportunities.
How do regional factors impact the sports betting market, and which region is the largest contributor?
The countries covered in the sports betting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
What Does The Sports Betting Market Report 2025 Offer?
The sports betting market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Sports betting refers to a type of gambling in which bets are placed on sporting events to gain a specified sum if the team or person chosen wins the event. Sports betting requires analytical skills, research, and understanding of the sport.
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