Online Sports Betting Market Research Report Forecast till 2032

Online Sports Betting Market Research Report Forecast till 2032

The Online Sports Betting market is projected to exhibit a CAGR of 12.82% during the review period.

Moreover, the market for online sports betting was projected to be valued USD 39195.7 million in 2023. The practice of projecting sports results and making bets on that specific result is known as sports betting. Football, American football, basketball, baseball, hockey, auto racing, boxing, and cricket are among the sports on which wagers are made, both on amateur and professional levels. The main factors propelling the expansion of the online sports betting business are the growing demand for eSports and the expanding popularity of sports.

One of the main drivers of growth in the sports industry is the growing digital revolution. These days, sports investors are implementing new technology to stay up to date with market changes and counter new dangers. Sports investors now have more ways to support the market's overall growth thanks to digital innovation. In the past few years, eSports has grown significantly, and both from a business and consumer standpoint, it is anticipated to continue growing.

The sports industry is projected to be shaped by technological advancements as the sector is presented with additional opportunities by the accelerating digital revolution. In addition, digital platforms provide the creation of personalized content, the development of significant connections with developers, the provision of both static and real-time statistics, and the use of geolocation technologies to improve the in-stage experience.

Market Segmentation

Based on sport type, the Online Sports Betting Market is classified into Football, Horse Racing/ Riding, Car Racing, Cricket, Hockey, Boxing, Baseball, Basketball, Tennis.

Based on Application, the Market is divided into mobile-based and web-based.

Based on type, the market is classified into Line-in-Play, Fixed Odds Betting, Exchange Betting, Daily Fantasy, Spread Betting, E-Sports, Others.

Regional Insights

Due to the region's sizable online sports betting sectors and the rising popularity of sports, the Europe Online Sports Betting market accounted for around 44.5% of the total in 2022. In the upcoming years, it is anticipated that the use of online sports betting will increase dramatically as businesses want to increase productivity, safety, and efficiency in their material handling and transportation operations.

Europe's sizable online sports betting market is one of the main reasons fueling the demand for online sports betting in the continent. Globally, the eSports industry is expanding as more and more people participate as competitors or viewers. Competitive video games that pit individuals and teams against one another in prize money competitions are known as eSports.

The market share that comes from North America is the second largest. Young people are becoming more and more interested in sports, which promotes communal integration and economic expansion. Increased participation in sports opens up new markets for a number of other sector verticals, including food, apparel, electronics, and gambling.

Major Players

The major players in the market include 888 Holdings PLC, Bet365 Group Ltd, Churchill Downs Incorporated, DraftKings, Flutter Entertainment PLC, Betfred Ltd, Entain PLC Industries Corporation, Fortuna Entertainment Group, Betsson AB, Kindred Group PLC, Sportech PLC, HKJC Football Betting Limited, Webis Holdings PLC, BetAmerica, BETWAY, 1X-BET, IO, GAME, BETTILT, MEGAPARI, BETWINNER, Lucky Block, Conquestador, BONS, Lilibet, Rabona, BK8, AND Dafabet.