Report Scenario

The global Online Sports Betting Market is estimated to reach USD 59,530.7 million by 2027, registering a CAGR of 13.6% during the forecast period, 2020–2027. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the next few years.

The global online sports betting market is expected to witness favorable growth during the forecast period. Factors such as growing sports demand and rising demand for eSports activities are expected to drive the market during the study period. The increasing digital innovation has also created a growth opportunity for the Online sports betting market. However, government restrictions in some countries are likely to restrain the growth of the global market.

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Competitive Outlook:

The key players of the global online sports betting market include 888 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).

Segmentation:

The global online sports betting market has been segmented based on sports, type, application, and region.

Based on sports type, the online sports betting market is bifurcated based on the sports type into football, cricket, tennis, baseball, volleyball, basketball, hockey, horse riding, boxing, golf, racing, and others. The football sub-segment is further divided into FIFA, Premier League, UEFA/EURO, and others. The football segment accounted for the larger market value in 2019, reaching a value of USD 6,046.2 million; it is expected to register a CAGR of 12% during the forecast period. The horse racing/ riding segment was valued at USD 4,667.8 million; it is projected to register a CAGR of 13.0%. However, the hockey segment is expected to register the highest CAGR of 15.3%. Online football betting sites provide the best-in experience with an online sportsbook (a reference book that is used to track wagers, payouts, and debts) that is safe and secure, providing an honest and reliable platform to bet and earn money.

The FIFA segment under football accounted for the largest market value of 2,366 million in 2019, growing at a CAGR of 12 during the forecast period. FIFA World Cup, one of the biggest events for football and betting lovers. Online sportsbooks provide insights through historical data to make smart decisions over bets. The FIFA bets are mainly categorized into money line bets, outright bets, in-play bets, accumulator bets, and special bets.

Regional Analysis:

The regional analysis for the global Online sports betting has been done for North America, Europe, Asia-Pacific, the Middle East Africa, and South America. In 2019, Europe accounted for the largest market share and it is expected to register notable growth during the study period. The North American market is expected to register the highest CAGR during the forecast period.

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