Growing popularity of sports and Rising demand for esports projected to fuel the growth of the global Online Sports Betting market at a CAGR of 12.82% during the forecast period 2024 to 2032

Market Research Future (MRFR) has published on the “Global Online Sports Betting Market”.

The Online Sports Betting market is estimated to register a CAGR of 12.82% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Online Sports Betting market 888 Holdings PLC, Bet365 Group Ltd, Churchill Downs Incorporated, Flutter Entertainment PLC, Entain PLC, DraftKings, Fortuna Entertainment Group, Betsson AB, Betfred Ltd, Kindred Group PLC, Sportech PLC, Webis Holdings PLC, BetAmerica, HKJC Football Betting Limited, BETWAY, 1X-BET, SPORTSBET.IO, BC.GAME, BETTILT, MEGAPARI, BETWINNER, Lucky Block, Conquestador., BONS, Lilibet, Rabona, BK8, and Dafabet.

Market Highlights

The global Online Sports Betting Market is accounted for to register a CAGR of 12.82% during the forecast period and is estimated to reach USD 120816.4 million by 2032.

Sport is a key platform for reaching development outcomes. Sport can contribute significantly to societal integration and economic growth in various geographical, cultural, and political instances. The industry is expanding due to the increasing popularity of sports and the increasing use of Online Sports Betting. Sports can further promote capital accumulation, facilitate the functioning of markets, and reinforce institutions through their impact on social capital, trust, culture, and crime. Those certain results are mutually reinforcing. Furthermore, playing a sport helps the player live longer and healthier and leads to lower obesity rates. Healthy people appear to have lower rates of diabetes and higher blood pressure. Practicing regularly through sports programs may lead to improved heart and lung function. For children, playing sports may help build friendships based on positive, fun, and enjoyable activities. Adults who participate in sports will have the ability to build friendships based on an active lifestyle.

The eSports market is rising across the globe, with more and more people participating as competitors or spectators. ESports is a market in which online streaming games are played in a highly competitive environment, usually by professional players. ESports include competitive video games in which teams and individuals play against each other, typically in prize money tournaments. It is gradually becoming one of the most popular spectator sports in the world. Like the emergence of conventional sports betting websites, modern sports-only websites now provide opportunities to bet on events and competitions as many would be betting on esports.

The accessibility and relatability of its practitioners is an unrecognized advantage of esports' global popularity for brands. Due to the modern, fast-paced aspect of gaming sites, players and their supporters have a strong online presence. Hence, eSports is expected to increase in popularity in the coming years and create a demand for more esports competitions, and consequently, eSport betting platforms.

Segment Analysis

The global Online Sports Betting market has been segmented based on sports type, type, and application.

Based on sports type, the market is segmented into Below Football, Horse Racing/ Riding, Car Racing, Cricket, Hockey, Boxing, Baseball, Basketball, Tennis. Football segment was attributed to holding the largest market share in 2022 with a market share of ~37.7% revenue as estimated by MRFR analysts.

Based on type, the global Online Sports Betting market has been segmented into Line-in-Play, Fixed Odds Betting, Exchange Betting, Daily Fantasy, Spread Betting, E-Sports, and Others. The fixed odds betting segment was expected to hold the largest market share in 2022.

Based on the application, the market is segmented into mobile-based and web-based. The mobile-based segment is projected to have the largest market share during the forecast period.

Regional Analysis

The global Online Sports Betting market, based on region, has been divided into North America, Europe, Asia-Pacific, and Middle East & Africa, and South America. The North America consists of US, Canada, and Mexico. The Europe Online Sports Betting market comprises of UK, Germany, France, Italy, Spain, Turkey, Bulgaria, Russia, Romania, Ukraine, Rest of Europe, and the rest of Europe. The Online Sports Betting market in Asia-Pacific has been segmented into China, India, Japan, Australia, and the rest of Asia-Pacific. The Middle East & Africa Online Sports Betting market comprises of Saudi Arabia, UAE, South Africa, Algeria, Nigeria, and Rest of MEA.  The South America Online Sports Betting market comprises of Brazil, Argentina, and Rest of South America.

The popularity of sports is enhancing among the young population, which leads to an increase in societal integration and economic growth. The rise in sports activities creates several opportunities for various other industry verticals such as food, clothing, electronics, and gambling. Growing Sports demand has led to a rapid rise in the gambling industry as it depends on the main sports industry and the players and their performances also many people indulging in the activities.

Europe has been a large market for players and industries such as gambling and betting to place bets and enjoy. Since the 1800s, Europe has had the presence of gambling and betting, but it has evolved to the next level in recent years; with the smartphone adoption and evolution of technology, it is now very easy to operate and play on the platforms offered by gambling industries.

Asia-Pacific's sports betting industry is growing steadily. With 60% of the world's population living on the continent, its population is expanding, and a growing number of sporting events are drawing people from a variety of cultural backgrounds. There has been an increasing ability to access online betting sites in countries where sports betting is heavily or even banned. The growing widespread use of VPN software has allowed those who have been previously unable to bet, now have a safe entry into doing so. Not only has this become a very popular way for players to access any regional sites, but it also has allowed them to access and play on international sites.

There are very few Middle Eastern countries where gambling is permitted, despite the fact that Arabic gambling regulations differ from nation to nation. For the most part, casinos, sports betting, and any form of online gambling are considered illegal through the Middle East. Even in certain regions where gambling is available, it is often heavily restricted or available only for foreign visitors, with locals prohibited from the place.

South America is starting to become a popular destination for gamblers. Nowadays, a number of the region's nations provide a vast array of online gambling choices, from sports betting to casino games. In other nations, it is neither formally regulated nor actively forbidden. In other nations, it is neither formally regulated nor actively forbidden. Sports betting is officially legal in Brazil, following the signing of the Provisional Measure (PM) implementing the 2018 law by President Luiz Inácio Lula da Silva.

Key Findings of the Study

• The global Online Sports Betting market is expected to reach USD 120,816.4 million by 2032, at a CAGR of 17.4% during the forecast period.


• The Europe region accounted for the fastest-growing global market, as it has region's large manufacturing and logistics industries.


• Based on sport type, the football segment was attributed to holding the largest market in 2022, with an approximate market share of 37.7%.


• 888 Holdings PLC, Bet365 Group Ltd, Churchill Downs Incorporated, Flutter Entertainment PLC, Entain PLC, DraftKings, Fortuna Entertainment Group, Betsson AB, Betfred Ltd, Kindred Group PLC, Sportech PLC, Webis Holdings PLC, BetAmerica, and HKJC Football Betting Limited.