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Global Online Sports Betting Market Size, Share, Analysis: By Betting Type: Fixed Odds Wagering, Live/In-Play Betting; By Sports Type: Football, Cricket, Basketball, Baseball, Horse Racing, E-Sports; By Device: Desktop, Mobile; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Online Sports Betting Market Outlook
The global online sports betting market size was approximately USD 66.91 billion in 2023. The market is assessed to grow at a CAGR of 10.2% between 2024 and 2032, reaching a value of USD 163.42 billion by 2032.
Key Trends in the Market
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. 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. 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.
- 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. 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.
- 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. Various online gambling and betting sites facilitate esports online betting while offering live and pre-match betting odds.
- 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. 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.
Market Analysis
Based on betting type, the market is divided into fixed odd wagering and live/in-play betting. On the basis of sports type, the market can be segmented into football, cricket, basketball, baseball, horse racing, and e-sports, among others.
By device, the global online sports betting market segmentation includes desktop and mobile. The major regional markets for online sports betting include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global online sports betting market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- 888 Holdings Plc
- Tabcorp Group
- Wynn Resorts, Limited
- Entain PLC
- MGM Resorts International
- Boyd Resorts International
- Light & Wonder, Inc.
- Penn Entertainment, Inc.
- Kindred Group PLC
- The Stars Group
- Others
Market Share by Device
As per the global online sports betting market analysis, mobile phones are an easy and efficient method for placing bets. Unlike desktop devices, they are portable and can access 5G mobile data and Wi-Fi simultaneously. They can also be used to research game news and team history on-the-go and place a bet during live games.
To enhance user experience, the website interface of most sports betting companies is designed to display a clear view of an individual’s betting odds, game scores, and the wager’s outcome, on mobile phones, supporting individuals in making decisions quickly and easily. The unparalleled flexibility provided by mobile phones also makes them a popular choice for bet placing.
Market Share by Region
Europe and North America represent a significant portion of the global online sports betting market share. This is due to the growing interest of all age groups in online gambling and the legalisation of gambling across many European countries such as Ireland, France, and Denmark, among others, and the US states such as New York, Illinois, Ohio, and Nevada, among others.
The growing per capita income of the working population and the surging accessibility to the internet are also boosting the acceptance of online betting across these regions. The burgeoning hardware and software innovations are likely to further support this trend and the demand for online sports betting is expected to increase significantly in the forecast period.
Competitive Landscape
888 Holdings Plc, founded in 1997 in Gibraltar, the UK, is one of the world’s leading betting and gambling companies. It owns and operates internationally renowned brands like 888casino, 888sport, 888poker and Mr. Green. It acquired William Hill, an international gambling company, in 2022 to enhance its pan-European footprint and ensure international diversification of revenue. It develops state of the art technology and content rich products that provide the best gaming experiences to people worldwide.
Tabcorp Group, founded in 1994 in Melbourne, Australia, is the largest gambling company in Australia and provides a portfolio of iconic products and services like TAB, SKY, and MAX. Apart from operating betting and gambling shops, it also broadcasts expert analyses of racing and sports programmes internationally and provides gaming services to people.
Wynn Resorts, Limited was founded in 2002 and is headquartered in Nevada, United States. It engages in the ownership, management, and development of destination casino resorts. It operates through many segments, which include Wynn Macau, Wynn Palace, Las Vegas Operations and Encore Boston Harbor. It is traded on the NASDAQ Global Select Market under the ticker symbol of WYNN and is a part of the S&P 500 Index.
Other key players in the global online sports betting market include Entain PLC, MGM Resorts International, Boyd Resorts International, Light & Wonder, Inc., Penn Entertainment, Inc., Kindred Group PLC, and The Stars Group, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Betting Type |
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| Breakup by Sports Type |
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| Breakup by Device |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Online Sports Betting Market Analysis
8.1 Key Industry Highlights
8.2 Global Online Sports Betting Historical Market (2018-2023)
8.3 Global Online Sports Betting Market Forecast (2024-2032)
8.4 Global Online Sports Betting Market by Betting Type
8.4.1 Fixed Odds Wagering
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Live/In-Play Betting
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Online Sports Betting Market by Sports Type
8.5.1 Football
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Cricket
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Basketball
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Baseball
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Horse Racing
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 E-Sports
8.5.6.1 Historical Trend (2018-2023)
8.5.6.2 Forecast Trend (2024-2032)
8.5.7 Others
8.6 Global Online Sports Betting Market by Device
8.6.1 Desktop
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Mobile
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Online Sports Betting Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Online Sports Betting Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Online Sports Betting Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Online Sports Betting Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 India
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 ASEAN
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Australia
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 South Korea
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Online Sports Betting Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Online Sports Betting Market Analysis
13.1 Nigeria
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 South Africa
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Egypt
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 United Arab Emirates
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 888 Holdings Plc
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Tabcorp Group
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Wynn Resorts, Limited
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Entain PLC
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 MGM Resorts International
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Boyd Gaming Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Light & Wonder, Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Penn Entertainment, Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Kindred Group PLC
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 The Stars Group
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Online Sports Betting Market: Key Industry Highlights, 2018 and 2032
2. Global Online Sports Betting Historical Market: Breakup by Betting Type (USD Billion), 2018-2023
3. Global Online Sports Betting Market Forecast: Breakup by Betting Type (USD Billion), 2024-2032
4. Global Online Sports Betting Historical Market: Breakup by Sports Type (USD Billion), 2018-2023
5. Global Online Sports Betting Market Forecast: Breakup by Sports Type (USD Billion), 2024-2032
6. Global Online Sports Betting Historical Market: Breakup by Device (USD Billion), 2018-2023
7. Global Online Sports Betting Market Forecast: Breakup by Device (USD Billion), 2024-2032
8. Global Online Sports Betting Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Online Sports Betting Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Online Sports Betting Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Online Sports Betting Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Online Sports Betting Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Online Sports Betting Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Online Sports Betting Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Online Sports Betting Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Online Sports Betting Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Online Sports Betting Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Online Sports Betting Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Online Sports Betting Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Online Sports Betting Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 66.91 billion.
The market is estimated to grow at a CAGR of 10.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 163.42 billion by 2032.
The market is being driven by legalisation of online gambling across different countries like Ireland and France and the growing interest of younger population in online betting. Other factors like increase in disposable income of people and burgeoning innovations are also driving this growth.
The key trends aiding the market expansion include the rise of esports, timely fraud detection by artificial intelligence, and the growing partnership of sports betting companies with social media influencers.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The different devices used in online sports betting are mobile and desktop.
The major players in the market are 888 Holdings Plc, Tabcorp Group, Wynn Resorts, Limited, Entain PLC, MGM Resorts International, Boyd Resorts International, Light & Wonder, Inc., Penn Entertainment, Inc., Kindred Group PLC, and The Stars Group, among others.
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