The sports betting market is fueled with opportunities and growth for iGaming operators and developers. The evolving regulations have made a significant impact on the sports betting industry. Especially, significant growth in online sports betting and the increase in the adoption of betting in various sports are experiencing more thrust in the sports betting market size.
According to Market Research, the sports betting market is expected to reach a value of $77.21 billion in 2025. The revenue is projected to show an annual growth rate (CAGR 2025-2029) of 5.30%, resulting in an expected market volume of $94.92 billion by 2029.
The betting market is experiencing massive growth, driven by technological advancement and the digital revolution. These advancements enable accurate predictions and more personalized sports betting experiences for general players and dedicated bettors, which is significantly creating diverse new opportunities for market participants.
What are the Most Trending Sports Bets Around the Globe?
Football (the European kind) has, by far, the highest betting volume, closely followed by American football. The other three North American Leagues (MLB, NHL, NBL) have gained massive betting volumes as well.
Horse racing, while often categorized as a niche market, still earns a larger betting volume in countries like the US, the UK, France, Australia, and South Africa, which are all the largest markets.
What’s Driving the Sports Betting Market?
The boost in the number of sports leagues and events is propelling the growth of the sports betting market. According to research, there are more than 100 professional-level leagues in different sports that are active across the globe. The introduction and establishment of new sports leagues across the globe are providing audiences with an opportunity to diversify their betting expenditure and generate more profits. This concludes that growing professional sports leagues in different segments and events are driving the growth of the global sports betting market and their sizes.
Who are the Top Players in the Sports Betting Market?
Sports betting industry is filled with numerous online betting platforms that offer exceptional betting space, experience, and ease of accessibility. They provide comprehensive betting options for users that helps in diversifying their profit segment from different sports leagues and events. Here are major companies operating in the sports betting industry:
- Flutter Entertainment plc
- Entain plc
- DraftKings Inc.
- Bet365 Group Ltd.
- Caesars Entertainment, Inc.
- MGM Resorts International
- Penn National Gaming, Inc.
- 888 Holdings plc
- Kindred Group plc
- PointsBet Holdings Limited
- Betsson AB
- Rush Street Interactive, Inc.
- Sazka Group
- The Stars Group
- Sisal S.p.A.
- ZEAL Network SE
- OPAP S.A.
- Betfred
- Parimatch
- William Hill
- BetMGM
- FanDuel Sportsbook
- Unibet
- Royal Panda
Growth in Online Betting Fueling Sports Betting Market Development
The sports betting market has experienced significant growth since the introduction of wide internet access and usability. Earlier, bettors had to go to a land-based betting market or offline bookmaker in order to place bets on sports events. With offline bookmakers, there were too many limitations like access to fewer sports markets, restrictions on the number of events they accept bets on, not being convenient due to the large number of waiting lines, etc.
But with online sports betting, bettors feel more comfortable, convenient, and less complex. Therefore, the number of bettors increased significantly with the rise of online betting platforms, all thanks to the sports betting website development company. These platforms offer bettors the ability to place bets directly from home. Additionally, online betting and sports live streaming are gaining significant traction among dedicated gamblers as they provide the convenience of placing bets virtually on all types of sports events in various countries. Hence, the surge in online sports betting development is boosting the global sports betting market.
Rise in Sports Betting App/Website Development
Due to the adoption of online sports betting, operators are looking to expand their business operations by diving into the digital space. They carve sports betting solutions that offer more enjoyable betting experiences with lucrative features to their targeted audiences. Traditionally, operators are not able to offer their consumers a complete sports market, but with online sports betting solutions, they are now able to cover major betting markets. The effectiveness of sports betting app development cost is also a big reason why operators find online betting a more opportunistic approach to capture the larger sports betting market cap.
Advantages of Online Sports Betting Platforms Over Traditional Sportsbook
Online sports betting platforms eliminate the need to be physically present in the sportsbook market. With a good internet connection and a good browser, bettors can leverage the much better experience of betting on sports. Beyond the wider market reach and enhanced user experience, sports betting business operators also consider the sports betting website development cost in comparison to maintaining the traditional brick-and-mortar establishment. Here are the best advantages of online sports betting platforms over a brick-and-mortar sportsbook:
- Making live betting;
- Time saving;
- User-friendliness;
- Cash outs and deposits;
- Bonuses and promotions;
- Priced reasonably;
- Speed is everywhere you can play it;
- Make more revenue.
Conclusion
The growth of the sports betting market is fueled by emerging trends, such as advancements in mobile technology, the rise of eSports betting, blockchain incorporation, AR/VR utilization, AI, and machine learning. The demand for online sports betting has also had a big impact on the growth of the sports betting market on a global level. Operators are constantly keeping their eyes on evolving regulations and license development to enter the market with confidence. Big names have already captured the market since the introduction of online sports betting.
