ONLINE SPORTS BETTING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Global Online Sports Betting Market is estimated to be valued at USD 50.13 Bn in 2024 and is expected to reach USD 89.28 Bn by 2031, growing at a compound annual growth rate (CAGR) of 8.6% from 2024 to 2031.
The online sports betting market has seen tremendous growth over the past decade driven by rising internet and smartphone penetration. As more people prefer making bets from the comfort of their homes on their devices compared to visiting physical betting shops or casinos, the digital space has emerged as the primary interface for the masses to place their wagers. The increasing availability of live sports streaming has also encouraged fans to bet on a wider variety of games online in real-time. Furthermore, many new operators are entering the market by offering lucrative signup bonuses and ongoing promos on popular leagues and tournaments to attract customers. While different jurisdictions have varying regulations regarding online gambling, the trend indicates strong potential for further expansion of the online sports betting segment across the world.
Market Dynamics:
The global online sports betting market has been witnessing robust growth due to a combination of drivers, opportunities and a few challenges. The main drivers have been the rising popularity of eSports and the legalization of sports gambling in several countries, leading to the entry of large betting companies. Live streaming of various sports on OTT platforms has also boosted real-money wagers. However, stringent regulations in a few regions and the unorganized illegal market remain obstacles. On the heels of changing attitudes, there exist opportunities to expand into newer territories and broaden the coverage of lower-profile sports and leagues.
Key features of the study:
- This report provides in-depth analysis of the global online sports betting market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in the global online sports betting market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
- Key companies covered as a part of this study include Flutter Entertainment, GVC holdings, Kindred Group, William Hill, and Bet365.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
- The global online sports betting market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global online sports betting market.
Market Segmentation
Market Segmentation
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