Global Sports Betting Will Surge From $108.9bn in 2024 to $198.5bn by 2030

By 2030, the global sports betting market, which was estimated to be worth US$108.92 billion in 2024, is expected to have grown to US$198.53 billion thanks to technology breakthroughs like blockchain and virtual reality (VR), regulatory reforms, and the expansion of digital sports content. That represents the market’s growth from 2025 to 2030 at a CAGR of almost 10%.

Photo: An AI image of people betting on sports via smartphones in a betting shop

The market research store, deemed by many industry experts as the world’s largest, Research and Markets, has added the report “Sports Betting Market: Analysis by Platform, Type, Betting Type, Sports Type by Region—Size, Trends and Forecasts to 2030” to its collection.

In 2024, the worldwide sports betting market was estimated to be worth US$108.92 billion. By 2030, the market value is anticipated to reach US$198.53 billion. The market is anticipated to expand at a compound annual growth rate (CAGR) of roughly 10% from 2025 to 2030.

Established firms, up-and-coming startups, and technological advancements all coexist in the fiercely competitive global sports betting market. The sports betting business will grow even more as additional countries legalize it and rules become more uniform, opening up new revenue sources and boosting operator competitiveness. Furthermore, emerging technologies like virtual reality and blockchain have the ability to completely transform the market and provide customers with new betting experiences.

Proliferation of Sports Content Across Various Digital Platforms and Rise of eSports Make Sports Betting Market More Diversified

Furthermore, new opportunities for expansion and diversification within the sports betting market are presented by the growth of eSports and the spread of sports content across numerous digital platforms. All things considered, the convergence of technical developments, regulatory reforms, and changing customer tastes is set to maintain the sports betting industry’s pace in the years to come.

Also, a number of significant legislative initiatives and policy modifications have contributed to the sports betting industry’s explosive expansion on a worldwide scale. For instance, in order to safeguard customers, regulators are stressing the necessity for operators to put responsible gaming policies into place. For instance, a lot of countries mandate that operators provide resources like deposit caps, self-exclusion policies, and programs to educate players about responsible gambling.

These rules improve the legitimacy and long-term viability of the sports betting sector in addition to protecting consumers. For example, there’s a strong legal framework and a well-established gambling market in the UK. In order to provide a secure and reliable environment for customers, the Gambling Commission (UKGC) regulates licenses and upholds responsible gaming policies. This license is highly regarded, and many famous bookmakers opted for it. And without it, they can’t operate in the UK.

States in the US have different laws governing online sports betting. For instance, in its first year of operation, New York State’s introduction of online sports betting in 2022 greatly expanded the US TAM (total addressable market). More US states and Canadian provinces are anticipated to regulate in the near future, further growing the business, largely due to the potential tax revenue from regulated gambling. Additionally, operators will be able to improve their products and draw in more customers as the market develops.

What Region Is Frontrunner?

The market was dominated by Asia Pacific. More individuals have more money to spend on entertainment thanks to rising disposable incomes in many Asian nations, which has increased demand for leisure pursuits like sports betting.

Furthermore, sports, especially basketball, cricket, and football, have become increasingly popular in the area, which has increased interest in associated betting activities. State-run lotteries, such as the Welfare Lottery and Sports Lottery, are an exception to the general rule that gambling is prohibited in Mainland China. The nation’s online sports betting provides a wide range of possibilities and ease, including markets for well-known titles like League of Legends (LoL) and Dota.