U S. Sports Betting Market Size, Share & Trends 2034

In contrast, the iGaming sector is characterized by a wider distribution of market share, with companies like BetMGM, Caesars, Penn Entertainment, and Everi each holding smaller, single-digit portions. In this competitive landscape, success hinges on data-driven personalization, exclusive gaming content, and integrated loyalty programs that span digital and physical touchpoints. A primary driver of the internet sports betting market is the ongoing legalization and regulation of online sports betting across various countries. This trend is largely driven by governments recognizing the potential for substantial tax revenue and the desire to curb illegal betting activities.

• For instance, in October 2024, Bet365 partnered with the Denver Nuggets and Colorado Avalanche, as announced by Kroenke Sports & Entertainment.
• As per statistics, around 4% of the adult population in the UK had bet online in some form between 2009 and 2010.
• Diverse offerings across sports, including niche categories like MMA and college football, are broadening appeal.

The United States is anticipated to enjoy 45.6% share of North American market revenue by 2034-end. Increasing participation of more individuals in multiple sports types is also forecast to lead to their growing involvement in sports betting. In recent years, growing incidences of illegal activities taking place in sports betting are projected to limit market expansion. Therefore, the implementation of stringent regulations by some government bodies related to sports betting is anticipated to impede sports betting market growth.

In 2024, the lotto segment accounted for the largest revenue share due to its broad appeal, low entry cost, and high jackpot incentives. National and regional lotteries continue to attract regular participation, supported by government-backed credibility and widespread availability. Digital transformation has enabled online ticket purchases, automated number selection, and subscription models, further enhancing accessibility. Daily and weekly draw formats provide consistent user engagement, while promotional campaigns and community funding initiatives boost visibility.

Legacy casino giants like MGM and Caesars continue to capitalize on loyalty ecosystems, migrating their land-based patrons to digital platforms with lower customer acquisition costs. New Jersey, Pennsylvania, Michigan, and Nevada remain dominant, underpinned by established iGaming frameworks and mature digital payment infrastructures. Notably, Michigan generated USD 2.9 billion in iGaming revenue in 2024 alone, demonstrating the high revenue ceiling when full-scale legalization is in place. Meanwhile, New York leads in mobile sports betting despite the absence of legalized iGaming, underscoring the massive potential once broader formats are approved by state legislation.

Robust mobile adoption, coupled with competitive marketing strategies and multi-state presence, continues to drive consistent revenue expansion in the US market. The online segment is expected to register the fastest CAGR of approximately 13.0% from 2025 to 2034 due to the increasing shift toward digital-first experiences. Rapid internet penetration, mobile accessibility, and app-based betting platforms have redefined how users place wagers.

Asia Pacific Sports Betting Market Trends

These partnerships are attracting more users by integrating betting services with sports content, allowing for seamless interactions and engaging a broader audience across multiple regions. For instance, in March 2024, ESPN BET launched its mobile and web sports betting platform in North Carolina, offering fans a variety of betting options. This marks the first new state launch under ESPN’s partnership with PENN Entertainment, expanding legal sports betting in the state. In 2024, mobile devices hold 81.11% of the U.S. online gambling market, driven by app-based platforms offering instant deposits, live betting, and interactive features.

Comprehensive Market Analysis & Intelligence Framework

The rise of social-casino formats and themed slot games is helping to diversify the user base, extending engagement beyond the traditional male-dominated sports betting audience. Cross-promotion between bingo, lottery, and casual casino titles is also proving effective, driving higher session frequency among female players. Not only do the websites offer the thrill of watching races, but they also enable one to bet on the sport in real time, making smart betting choices with the help of sophisticated data analysis and statistics. One of the most important aspects of the global horse racing market is the engagement of betting and wagering.

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The proliferation of smartphones along with boosting internet infrastructure is contributing to rising preference for online platforms. The global trend of digitization is positively influencing lifestyle, which is resulting in the adoption of online platforms for sports betting at a larger scale. Moreover, the increasing count of annual sports leagues, such as the NFL, etc. is positively impacting market dynamics. Rising popularity of sports betting is attributed to an upsurge in different forms of betting and eSports. Furthermore, the growing use of smartphones is leading to wide accessibility and availability of sports betting, subsequently contributing to the market growth. The digitalization trend, which has been backed up by constant technological advancements in betting software and smartphones is enabling betting operators to offer enjoyable experiences and simplify their platforms.

After UK and Japan, horse racing in Australia also has the world’s third share of race betting. The online platform segment dominated the market with the largest revenue share of 69.7% in 2024. This segment is witnessing growth due to the quick adoption of internet-connected gadgets like smartphones, laptops, and tablets. Leading brands are actively shaping federal policy discussions, including interpretations of the Wire Act and frameworks for interstate liquidity. Meanwhile, smaller operators are increasingly turning to white-label partnerships or pursuing exit strategies exemplified by Apollo’s acquisition of IGT’s digital gaming assets.

This convergence is blurring the lines between watching and betting, particularly through second-screen activities on mobile apps. In addition, esports betting is gaining traction, especially among young adults, driven by the popularity of competitive gaming and streaming platforms. These cross-industry collaborations are creating new channels for user acquisition, engagement, and monetization for both traditional and digital sports audiences.

Increasing ease of placing such more complicated wagers with advances in technology will attract more participants ballybet login looking to challenge themselves for greater rewards. Over the next few years, we can anticipate new forms of betting in the international horse racing industry, fueled by consumer demand and continuous innovation. The development of the market will mirror a wider movement toward more interactive and personalized experiences, rendering horse racing a more inclusive and dynamic experience for all categories of participants. A major restraint in the market is the complexity of regulatory challenges and the need for compliance across different jurisdictions. Online sports betting operators must navigate varying legal landscapes, where regulations can differ significantly from one region to another. This regulatory complexity requires operators to invest in legal expertise and compliance measures, adding to operational costs.

The simplicity of lotto play, requiring no expertise, ensures a wide demographic reach, making it a stable and high-volume revenue stream in the betting ecosystem. The legalization of sports betting continues to expand across numerous U.S. states, facilitating the industry’s substantial growth. As more states enact legislation, access to sports betting is becoming available to a broader population, thereby resulting in increased revenue streams and encouraging further investments in the industry. For instance, in July 2024, DraftKings Inc. announced the launch of its online sportsbook in Washington, D.C., pending licensure and regulatory approvals. Some of these stakeholders are top players like The Jockey Club, Churchill Downs Incorporated, Ascot Racecourse Ltd, and The Stronach Group.

Among these, live/in play betting currently accounts for the majority of the total market share. The offline segment dominates the United States sports betting market, with casinos like MGM Resorts offering in-person betting experiences. Retail sportsbooks continue to attract bettors, providing a traditional setting for wagering alongside online options, significantly impacting the sports betting U.S. market share.

The convenience of placing bets anytime and anywhere, along with user-friendly apps, live betting features, and secure digital payment options, has made online platforms highly attractive. Furthermore, younger, tech-savvy users are fueling adoption, while aggressive marketing strategies, partnerships with sports leagues, and integration with media platforms are broadening reach and engagement. Furthermore, the increase in popularity of horse racing events, availability of advanced wagering options, and upsurge in media and live broadcast have significantly driven the horse betting market. The rising interest in horse betting among emerging nations and the increase in popularity of online betting platforms and mobile apps are expected to boost the market in terms of revenue and overall growth.

Based on sports segment it includes football, basketball, baseball, horse racing, cricket, hockey, and others. In 2024, the football segment accounted for the largest revenue share, driven by the sport’s global popularity and year-round betting activity. Major tournaments like the UEFA Champions League, English Premier League, and FIFA World Cup draw millions of viewers and bettors. Football’s structure, which includes numerous leagues, clubs, and match events, provides ample betting opportunities, ranging from match results to player performance and minute-by-minute outcomes. Operators capitalize on the sport’s mass appeal through targeted promotions, odds boosts, and sponsorship deals, ensuring football remains the dominant driver of betting activity across diverse user segments.

It is also seen in the continental part of Europe as the carbon copy of British and Irish racing. In Colorado, the removal of revenue caps rather than increasing tax rates has created a more favorable environment for promotional activity. Southern states remain largely untapped, but legislative developments in Georgia and South Carolina point to future market openings. California, with its immense scale, continues to sit on the sidelines amid unresolved tribal gaming negotiations. The Sports Betting Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion. Micro and macro environment factors that are currently influencing the Internet Sports Betting market and their expected impact during the forecast period.

The future of this market will be influenced by a diversification of the types of bets on offer. The global horse racing market is a large and dynamic industry with several dimensions of the sport, from live traditional racing events to online sites that bring the excitement of horse racing to the world. It is an integration of sports entertainment, gaming, and cultural tradition at the heart of the broader global sports industry.

The growth of online sites and mobile betting apps has transformed the way individuals engage in horse racing, with multiple bets being more straightforward than ever to make with simple taps on a screen. Based on gaming device, the global market is divided into mobiles and desktops with the latter registering the highest growth in the global market. In 2021, the segment generated more than 28.5 billion in revenue and was most preferred amongst the players due to the several advantages of using desktops over mobile phones.

The football segment dominates the United States sports betting market, driven by the popularity of NFL and college football. For example, DraftKings reported significant wagers during the NFL season, boosting overall market engagement. It began in the United Kingdom in the early 1600s, during the time of King James I. Gamblers could invest money in the final placement of the horses involved in the race. In the online gaming industry, horse racing betting maintains a very high position, despite the popularity of football, rugby betting, and other team sports. Key players operating in the U.S. sports betting market are undertaking various initiatives to strengthen their presence and increase the reach of their products and services.