The major regional markets for online sports betting include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. On the basis of sports type, the market can be segmented into football, cricket, basketball, baseball, horse racing, and e-sports, among others.īy device, the global online sports betting market segmentation includes desktop and mobile. The increasing awareness of online betting and the development of safe online gaming communities that comply with government regulations and implement safety warnings are positively influencing the online sports betting market demand.īased on betting type, the market is divided into fixed odd wagering and live/in-play betting. Online sports betting companies are partnering with social media influencers to promote their products and services by leveraging the trust these influencers have built within their followers.Various online gambling and betting sites facilitate esports online betting while offering live and pre-match betting odds. The growing popularity of esports or competitive video gaming due to its accessibility is expected to create lucrative opportunities for the global online sports betting market growth in the forecast period.Hence, key players are deploying technologies like artificial intelligence tools to analyse a user’s historical betting patterns, player performance, and social media sentiment to detect potential fraud. Some key online sports betting market trends include rising concerns regarding fraud on sports betting websites and the increasing focus on enhancing the safety of online betting.The amount of money that can be won from a bet depends on multiple factors, including the amount of money wagered or the sportsbook an individual chooses to use, among others. This bet can be made on either an athlete’s/team’s statistical performance or on the number of runs a team is expected to score in an event. When two or more people on the internet risk money on the outcome of a sporting event, they are said to be engaging in online sports betting. The market is assessed to grow at a CAGR of 10.2% between 20, reaching a value of USD 163.42 billion by 2032. The global online sports betting market size was approximately USD 66.91 billion in 2023.

Global Online Sports Betting Market Outlook

Sports betting industry trends