How big is the global sports betting industry

Data Bridge Market Research analyzes that the global sports betting market was valued at How big is the global sports betting industry billion in and is expected to reach USD billion by. PRNewswire/ -- The global sports betting market size is estimated to reach USD billion byregistering a CAGR of % from No information is available for this page. The global online sports betting market was valued at USD million in It is anticipated to reach USD 1, Million bygrowing at a.

The Global Sports Betting Industry: A Closer Look

Throughout the sporting world, the stakes are not merely confined to the action on the field. Behind the scenes, the global sports betting industry thrives, reaching monumental proportions that often go unnoticed. It's a domain where fortunes are made and lost with each goal, basket, or touchdown. But just how expansive is this industry that weaves its way through the fabric of sports culture?

In today's interconnected world, the global sports betting industry stands tall, dwarfing many other sectors with its sheer scale. While precise figures can sometimes be elusive due to the clandestine nature of this business, estimates suggest that the industry's worth exceeds several hundred billion dollars annually. The sheer enormity of this figure is enough to turn heads in any boardroom or stadium.

What propels this mammoth industry forward, one might wonder? The fusion of technology and accessibility plays a pivotal role in ensuring the industry's continual growth. With the rise of online betting platforms and mobile apps, enthusiasts worldwide now have the convenience of placing bets at their fingertips. This digital evolution has effectively transformed the industry into a global behemoth, transcending borders and time zones.

As with any colossal industry, the global sports betting landscape is a tapestry woven with regional nuances. In some jurisdictions, betting is as commonplace as a morning cup of coffee, while in others, it remains heavily regulated or even prohibited. This patchwork of regulations and cultural attitudes shapes the industry's dynamics, presenting both challenges and opportunities for operators and enthusiasts alike.

Despite its impressive size and scope, the global sports betting industry is not without its share of challenges. From regulatory hurdles to ethical concerns surrounding addiction and match-fixing, stakeholders grapple with a myriad of issues. Nevertheless, the industry remains resilient, adapting to changing landscapes and embracing innovative solutions to stay ahead in the game.

To truly fathom the enormity of the global sports betting industry is to realize its profound impact on sports culture and economic landscapes worldwide. As the industry continues to evolve and expand, one thing remains certain—it will remain an indelible part of the modern sporting narrative.

Sports Betting Industry Statistics [Fresh Research]

Which country has the most sports betting? Here is the list of the most popular sports betting countries.

• Canada. Estimated Market Size of Sports Betting: $0.84 billion. ...
• South Korea. Estimated Market Size of Sports Betting: $0.96 billion. ...
• Russia. Estimated Market Size of Sports Betting: 0.97 billion. ...
• Spain. ...
• Germany. ...
• Italy. ...
• India. ...
• Brazil.

How much does sports betting contribute to the economy? Legal sports betting is expected to contribute $22.4 billion to US gross domestic product. Fiscal impacts, consisting of state, local and federal tax impacts, are expected to total $8.4 billion.

How big of an industry is sports betting? US sports betting has rapidly grown into a $10 billion industry since a 2018 Supreme Court decision allowed US states to legalize the practice. Significant expansion could remain ahead, according to Goldman Sachs Research.

What is the biggest betting sport in the world? football

What is the annual revenue of sports betting? .com. The huge year “represented a 44.5% year-over-year increase from 2022,” which previously held the record.

How big is the NFL betting industry? Due to rising interest in legal sports betting, industry revenues are expected to clock in at roughly $11 billion in 2023, which would represent a 72% increase from 2022. By 2025, that figure could be closer to $19 billion, according to the projections of InsiderIntelligence.com (highlighted below).

How much money is made annually on sports betting? As the American sports betting industry continues to expand, it has reached a high water mark, posting a record $10.92 billion in revenue for 2023, according to the American Gaming Association's annual report.

What is the betting capital of the world? Macau

Is gambling a trillion dollar industry? The global market for Gambling estimated at US$773.7 Billion in the year 2023, is projected to reach a revised size of US$1 Trillion by 2030, growing at a CAGR of 3.7% over the analysis period 2023-2030.

Which country likes bet most? 10 Popular Countries for Sports Betting

• Italy. ...
• Canada. ...
• Brazil. ...
• Argentina. ...
• Poland. ...
• Australia. ...
• United States. ...
• United Kingdom. The United Kingdom is one of the world's largest markets for the gambling industry, and as such is a popular “home base” for many of the industry giants.

Is sports betting a billion dollar industry? In 2022, the sports betting and lottery market size worldwide amounted to 235.46 billion U.S. dollars.

What nationality gambles the most? Top 5 Nations That Gamble the Most

1. Macau, China.
2. Australia. ...
3. Singapore. ...
4. United States. The United States doesn't do things by halves, especially when it comes to gambling. ...
5. United Kingdom. Britain's gambling saga goes way back to the times of jousting tournaments and queens with a penchant for a bit of a flutter. ...

Sports Betting Market

Furthermore, the sports betting market has also grown from increasing investments in online platforms as internet penetration has expanded. Online platforms allow participants to keep track of their wagering actions in real-time via internet-connected devices. The market is primarily segmented on the basis of platform, type, sports, application, and region. The online segment is expected to witness the largest share in the global market in , owing to the rising penetration of smartphones and connected devices throughout the world.

Around 1. The growth of online platforms using mobile devices has been fueled by increasing smartphone use, as well as the acceptance of video streaming and instant messaging services. By improving existing smartphone apps, is projected to have an indirect impact on consumer interaction. Over the forecast period, the use of 5G networks is predicted to enhance the popularity of smartphone-based wagering, which will boost the global sports betting market.

The football segment is expected to witness the highest CAGR during the forecast period as the popularity of this game. Football players such as Lionel Messi, Cristiano Ronaldo, Neymar, and Robert Lewandowski have contributed to the expansion of this market due to the popularity of the game and its large fan base throughout the world.

Also, these factors drive people to increase bet amounts on a regular process. In , basketball accounted for the second-largest revenue share. The growth of this segment can be attributed to the event's attractiveness and the ability to place bets on it. Over the forecast period, the cricket segment is expected to increase significantly.

The growth of fantasy wagering applications, as well as an increase in the number of bettors from the Asia Pacific, can be contributed to this segment's growth. Geographically, in , Europe had the highest revenue share, and this is expected to continue throughout the forecast period.

The adoption of safety legislation and regulations for both offline and online wagering is responsible for the region's growth. The expansion of the regional market can be related to the adoption of safety legislation and regulations for both offline and online betting in most of the region's countries. Furthermore, prominent games such as horse racing and football, as well as popular football clubs such as Liverpool, Manchester United, and Chelsea F.

In , Asia Pacific had the second-largest revenue share, and it is expected to grow at the fastest CAGR over the projected period. The market in this region is being driven by factors such as the increased number of people wagering on games such as cricket, hockey, football, and basketball.

Market size value in Revenue forecast in Figure 1. How big is the global sports betting industry Integrated Ecosystem Figure 3. Market by Geography Figure 5. Market by Application Figure 7. Market by Sports Figure 9. Market by Platform Figure Market by Type Figure Strategic Analysis — Sports Betting Market. We take great pride in "Delivering game-changing business opportunities reports with report customizations", so please don't hesitate to share with us your unique interests and business difficulties in much more detail.

This website is secure and your personal details are safe. Privacy Policy. Consulting Other Services Research. Request Sample Report Request a Sample report to know overview of the report's scope and coverage. Know more about this report : request for sample pages The majority of the younger population resides in Asian countries, and the past two years of the Covid phase pushed younger people towards spending more time on smartphones which also favored the adoption of the market.

Industry Dynamics Growth Drivers The sports betting market is being driven by the growth of digital infrastructure and the prevalence of wireless connectivity. Revenue of off course betting in Great Britain , by sector. Gross gambling yield of off course betting in Great Britain , by sector. Sports betting participation in Great Britain Sports betting participation in Great Britain , by sport.

Leading websites in the sportsbook sector in the UK , by share of voice. Leading sportsbook-related websites in the United Kingdom UK in the 2nd quarter , by share of voice. Gross revenue from different gaming activities in Macao Gross revenue from different gaming activities in Macao in in million Macau patacas , by type.

Amount wagered for sports betting in Italy , by sport. Amount wagered for sports betting in Italy from to , by type of sport in million euros. Amount wagered and tax revenue for soccer betting in Italy , by league. Amount wagered and tax revenue for soccer betting in Italy in , by type of league in million euros.

Market share of leading online sports betting operators in Italy Skip to main content. This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text. Key insights. Sports betting and lottery market size worldwide bn USD Detailed statistics Sports betting and lottery industry market size worldwide Detailed statistics Key data on the global sports betting sector Detailed statistics Brand value of leading global gambling companies Get more insights.

Table of contents. Sports Betting Sports betting and lottery industry market size worldwide Sports Betting Key data on the global sports betting sector Gambling Brand value of leading global gambling companies Industry overview 4 Premium Statistic Global online gambling industry market size Premium Statistic Sports betting and lottery industry market size worldwide Premium Statistic Key data on the global sports betting sector Premium Statistic Brand value of leading global gambling companies Industry overview Premium Statistic Global online gambling industry market size Global online gambling industry market size Market size of the online gambling industry worldwide in , with a forecast for in billion U.

Sports betting and lottery industry market size worldwide Market size of the sports betting and lottery sector worldwide from to , with a forecast for in billion U. Key data on the global sports betting sector Key industry data on the sports betting sector worldwide as of May Brand value of leading global gambling companies Leading gambling companies worldwide in , by brand value in billion U.

Sports betting in the U. Premium Statistic Sports betting revenue in the U. Number of U. Favorite sports to make a wager on in the U. Sports betting in Nevada 5 Premium Statistic Nevada: monthly sports betting revenue Premium Statistic Nevada: monthly sports betting handle Premium Statistic Win amount of sportsbooks in Nevada Basic Statistic Number of sportsbooks in Nevada Premium Statistic Amount wagered on the Super Bowl in sports books in Nevada Sports betting in Nevada Premium Statistic Nevada: monthly sports betting revenue Nevada: monthly sports betting revenue Sports betting revenue in Nevada from June to November , by month in million U.

Nevada: monthly sports betting handle Sports betting handle in Nevada from June to November , by month in million U. Win amount of sportsbooks in Nevada Win amount of sportsbooks in Nevada in the United States from to in million U. Number of sportsbooks in Nevada Number of sportsbooks in Nevada in the United States from to Amount wagered on the Super Bowl in sports books in Nevada Amount wagered on the Super Bowl in sports books in Nevada from to in million U.