Online Sports Betting Market Research Report— Global Forecast till 2032

Online Sports Betting Market Research Report Information By Sports (Football, Cricket, Tennis, Baseball, Volleyball, Basketball, Hockey, Horse Riding, Boxing, Golf, Racing), By Type (Line-in-play, Fixed Old Betting, Daily Fantasy, E-sports, Exchange Betting, Spread Betting), By Application (Mobile-based, Web-based) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.

ID: MRFR/ICT/9000-CR | 173 Pages | Author: Shubham Munde | March 2021         

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Online Sports Betting Market Overview


Online Sports Betting Market Size was valued at USD 20.5 billion in 2022. The Online Sports Betting market industry is projected to grow from USD23.288 Billion in 2023 to USD 64.58904206 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.60% during the forecast period (2023 - 2032).Increased digital innovation has also created a growth opportunity for the Online sports betting market. It is gradually becoming one of the most popular spectator sports in the world, which are the key market drivers enhancing the market growth.


Online Sports Betting Market Overview


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Online Sports Betting Market Trends


The increase in popularity of E-sports betting is driving market growth.


The emergence of the internet and a variety of video games available has contributed to the e-sports industry. This increase in e-sports activities has led bookmakers to offer numerous bets on these online sports. Betting in e-sports is continuously increasing in various sports like golf, rugby, tennis, and many others. This widening of e-sports platforms has generated huge revenue for the online sports betting market. This factor drives market CAGR.


Additionally, a lot of new technology is coming up in the market every day, like virtual reality, machine learning, and artificial intelligence. This technology is accepted in the sports betting market because of its betting ability and promising results in prediction. Hence, more development in such technologies drives the growth of the online sports betting market. Furthermore, Sports betting activities are considered illegal in many states or countries. But now, the Government is taking initiatives to legalize sports betting activities, increasing opportunities for the online sports betting industry. For instance, the popularity of online sports betting was boosted to a great extent when the Singaporean Government legalized e-sports betting in September 2016. The trend of legalizing e-sports activities is continuously increasing, expected to drive the growth of the Online Sports betting market revenue.


Online Sports Betting Market Segment Insights


Online Sports Betting Sports Insights


Based on sports, the global Online Sports Betting market segmentation includes football, cricket, tennis, baseball, volleyball, basketball, hockey, horse riding, boxing, golf, and racing. The football segment dominated the market; football is one of the most popular sports globally, with a large fan base and extensive commercialization. Manufacturing football-related equipment, such as jerseys, boots, balls, and accessories, requires efficient production processes. Online sports betting offers benefits such as flexibility, scalability, and cost-effectiveness, making it an ideal solution for football equipment manufacturers.


Online Sports Betting Type Insights


Based on type, the global Online Sports Betting market segmentation includes line-in-play, fixed old betting, daily fantasy, e-sports, exchange betting, and spread betting. The e-sports segment dominated the market; E-sports have witnessed tremendous growth and popularity in recent years, attracting a large and dedicated fan base. Manufacturing gaming hardware, accessories, and merchandise for E-sports require efficient and agile production processes. Online Sports Betting offers scalability, flexibility, and collaboration capabilities, enabling manufacturers to meet the dynamic demands of the e-sports industry.


Online Sports Betting Application Insights


The global Online Sports Betting market segmentation, based on Application, includes mobile-based and web-based. The mobile-based segment dominated the market. The dominance of the mobile application segment is fueled by the widespread adoption of mobile devices and the growing demand for mobile applications across various industries. Mobile-based applications provide convenience, accessibility, and real-time collaboration for manufacturers, enabling them to streamline their operations and enhance productivity.


Figure1: Global Online Sports Betting Market, by Application, 2022 & 2032 (USD billion)


Global Online Sports Betting Market, by Application


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Online Sports Betting Regional Insights


By Region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American, Online sports betting market will dominate this market due to increasing digital innovation. With the increasing popularity of spectator sports, the demand for online betting platforms is on the rise. SalesForce, leveraging its expertise and solutions, is well-positioned to drive market growth in this Region.


Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2: GLOBAL ONLINE SPORTS BETTING MARKET SHARE BY REGION 2022 (%)


GLOBAL ONLINE SPORTS BETTING MARKET SHARE BY REGION


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Europe's Online Sports Betting market accounts for the second-largest market share due to the regulations across European countries regarding the sports betting/gambling industry being favorable for their population. Further, the German Online Sports Betting market held the largest market share, and the UK Online Sports Betting market was the fastest-growing market in the European Region.


The Asia-Pacific Online Sports Betting Market is expected to grow fastest from 2023 to 2032. This is due to the increasing percentage of the regional population indulging in sports betting activities as several countries are legalizing the gambling industry and attracting overseas market players. Moreover, China’s Online Sports betting market held the largest market share, and the Indian Online Sports Betting market was the fastest-growing market in the Asia-Pacific region.


Online Sports Betting Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development to expand their product lines, which will help the online sports betting market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The Online Sports Betting industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.


Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global Online Sports betting industry to benefit clients and increase the market sector.


Over the past few years, the online sports betting industry has delivered notable advantages. Major players in the Online Sports Betting market, including Holdings PLC (UK), Bet365 Group Ltd (UK), Churchill Downs Incorporated (US), Flutter Entertainment PLC (UK), Entain PLC (UK), DraftKings (US), Fortuna Entertainment Group (Netherlands), Betsson AB (Sweden), Betfred Ltd (UK), Kindred Group PLC (Malta), Sportech PLC (UK), Webis Holdings PLC (Isle of Man), BetAmerica (US), HKJC Football Betting Limited (Hong Kong), and Megapari (Cyprus)., Furthermore, various companies, including SalesForce, are investing in research and development operations to enhance market demand


Amazon Web Services (AWS), a subsidiary of Amazon, offers flexible cloud computing platforms and APIs on a pay-as-you-go basis. In collaboration with Volkswagen AG and Siemens AG, AWS launched industrial cloud services for the technology and manufacturing sectors. This partnership aims to enhance production processes by connecting with Volkswagen plants and integrating software applications into the industrial cloud. The initiative emphasizes the potential of cloud technology to optimize operations and drive innovation in the industry.


VMware, Inc. is a prominent company specializing in cloud computing and virtualization technology. Renowned for pioneering x86 architecture virtualization, VMware's desktop software supports Windows, Linux, and macOS.Recently, VMware launched the second generation of VMware Cloud, now available on Dell EMC. This innovative cloud service combines the agility and simplicity of the public cloud with the control and security of enterprise-grade on-premise infrastructure. It offers scalable, secure, and user-friendly infrastructure-as-a-service solutions for edge locations and on-premises data centers.


Key companies in The Online Sports Betting Market Include




  • Holdings PLC (UK)




  • Bet365 Group Ltd (UK)




  • Churchill Downs Incorporated (US)




  • Flutter Entertainment PLC (UK)




  • Entain PLC (UK)




  • DraftKings (US)




  • Fortuna Entertainment Group




  • (Netherlands)




  • Betsson AB (Sweden)




  • Betfred Ltd (UK)




  • Kindred Group PLC (Malta)




Online Sports Betting Industry Developments


July 2020: Amazon Web Services, Volkswagen AG, and Siemens AG announced the launch of industrial cloud services for technology and manufacturing firms. The partner companies are anticipated to connect with Volkswagen plants and provide their software applications to the industrial cloud to improve production processes.


May 2020: VMware, Inc. launched the second generation of VMware Cloud, now accessible on Dell EMC. The new cloud service combines the agility and simplicity of the public cloud with the control and security of the enterprise-grade on-premise infrastructure. It also offers scalable, secure, and simple infrastructure-as-a-service to customers' edge locations and on-premises data centers.


Online Sports Betting Market Segmentation


Online Sports Betting Sports Outlook




  • Football




  • Cricket




  • Tennis




  • Baseball




  • Volleyball




  • Basketball




  • Hockey




  • Horse Riding




  • Boxing




  • Golf




  • Racing




  • Supplements




Online Sports Betting Type Outlook




  • Line-in-play




  • Fixed Old Betting




  • Daily Fantasy




  • E-sports




  • Exchange Betting




  • Spread Betting




  • Non-Store-Based




Online Sports Betting Application Outlook




  • Mobile-based




  • Web-based




Online Sports Betting Regional Outlook




  • North America






  • US




  • Canada






  • Europe






  • Germany




  • France




  • UK




  • Italy




  • Spain




  • Rest of Europe






  • Asia-Pacific




    • China




    • Japan




    • India




    • Australia




    • South Korea




    • Australia




    • Rest of Asia-Pacific






  • Rest of the World




    • Middle East




    • Africa




    • Latin America





Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 20.5 billion
Market Size 2023 USD 23.288 billion
Market Size 2032 USD 64.58904206 billion
Compound Annual Growth Rate (CAGR) 13.60% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Sports, Type, Application, and Region
Geographies Covered North America, Europe, AsiaPacific, and the Rest of the World
Countries Covered The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled (UK), Entain PLC (UK), DraftKings (US), Fortuna Entertainment Group (Netherlands), Betsson AB (Sweden), Betfred Ltd (UK), Kindred Group PLC (Malta), Sportech PLC (UK)
Key Market Opportunities Spectator sports are experiencing a gradual rise in popularity worldwide.
Key Market Dynamics The rise of digital innovation has opened up significant growth opportunities for the online sports betting market.




Frequently Asked Questions (FAQ) :

The global Online Sports betting market size was valued at USD 55.2 billion in 2022.

The global market is projected to grow at a CAGR of 16.11%during the forecast period, 2023-2032.

North America had the largest share of the global market.

The key players in the market are (UK), Entain PLC (UK), DraftKings (US), Fortuna Entertainment Group (Netherlands), Betsson AB (Sweden), Betfred Ltd (UK), Kindred Group PLC (Malta), Sportech PLC (UK).

The E-sports category dominated the market in 2022.

The Mobile-based had the largest share in the global market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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