Analysts’ Viewpoint
Rise in adoption of smartphones and availability of reliable internet connection is projected to fuel the internet sports betting market size during the forecast period. Various countries across the globe are legalizing online sports betting. Mobile gambling is gaining traction worldwide, with bets placed on mobile wagering, including phones and tablets, surpassing those places with desktops.
Vendors in the global internet sports betting industry are investing significantly in promotional activities to expand their customer base. They are also partnering with various sports leagues to increase their internet sports betting market share.
Internet sports betting involves placing bets on various sports events through online platforms. Bets are widely placed on various sports such as cybersports, football, basketball, baseball, hockey, cricket, and boxing. Internet sports betting is legal in countries such as the U.K., Japan, Spain, France, Australia, China, and Thailand, while Qatar and the UAE prohibit gambling of every kind.
Improvements in technology and rise in penetration of internet have led to the development of various types of online sports betting including moneylines, spreads, totals, parlays, and live betting. Moneyline is the most popular type of sports bet. It involves picking the winning or losing team.
Significant advancements in network technologies have led to an increase in internet speed. Major telecommunications operators are deploying 5G networks worldwide to expand internet access. They are also offering satellite internet services, especially in remote areas that lack the necessary infrastructure for fiber-optic internet.
The number of smartphone users is growing rapidly worldwide. India, one of the major markets for online betting, has over 1.2 billion mobile phone users, according to the I&B Ministry of the Government of India.
The emergence of COVID-19 led to a surge in adoption of digital services. The use of internet services grew from 40% to 100% compared to pre-lockdown levels. Thus, increase in adoption of smartphones and availability of reliable internet connections are projected to spur the internet sports betting market growth in the near future.
Several state and national governments of various countries are legalizing online sports betting. In June 2023, the state government of Vermont in the U.S. signed a bill that authorizes the Department of Liquor and Lottery to set up a betting system.
Such developments are likely to boost engagement in legal sports betting. In the U.S., around 33 states have legalized sports betting. Hence, legalization of online sports betting is anticipated to propel the internet sports betting market expansion in the near future.
Implementation of stringent tax and advertisement regulations is likely to limit the internet sports betting market trajectory. The Government of India is set to introduce stricter advertisement rules for online betting. Earlier, the government had banned several betting apps and asked various app platforms to cease marketing ads for overseas online betting platforms.
According to the latest internet sports betting market forecast, Asia Pacific is projected to hold largest share from 2023 to 2031. Surge in adoption of smartphones and increase in penetration of internet are driving the market dynamics of the region.
Asia Pacific is home to around 2.3 billion internet users, which accounts for 50.3% of the world's internet user population.
Presence of robust internet infrastructure and rise in legalization of online sports betting are boosting the internet sports betting market statistics in North America. The federal government of the U.S. allows each state to determine its own sports betting laws. Currently, sports betting is legal in over 30 states. New York, Maryland, and New Jersey are some of the states that allow online sports betting. In October 2031, Maine legalized advertising and user registrations for online sports gambling.
Mobile gambling is gaining traction in Europe. Increase in investment in marketing by companies and availability of convenient payment infrastructure are propelling the internet sports betting market revenue in Europe.
A multitude of online betting platforms are available in the market. Internet sports betting companies are focused on offering a user-friendly interface. They are also providing a wide range of sports and events to bet on. Rise in investment in scaling up payment infrastructure is estimated to offer lucrative internet sports betting market opportunities to vendors.
888 Holdings plc, Betway Group, Cyber Bet, Entain plc, Kindred Group, Flutter Entertainment plc, Unibet, and Unikrn Inc. are key players operating in this market. Each of these players has been profiled in the internet sports betting market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.
| Attribute | Detail |
|---|---|
| Market Value in 2022 (Base Year) | US$ 103.1 Bn |
| Market Forecast Value in 2031 | US$ 193.4 Bn |
| Growth Rate (CAGR) | 7.2% |
| Forecast Period | 2023-2031 |
| Historical Data Available for | 2017-2021 |
| Quantitative Units | US$ Bn for Value |
| Market Analysis | Global qualitative analysis includes drivers, restraints, opportunities, key trends, key market indicators, Porter’s Five Forces analysis, value chain analysis, and SWOT analysis. Furthermore, at the regional level, qualitative analysis includes key trends, price trends, and key supplier analysis. |
| Competition Landscape |
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| Regions Covered |
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| Countries Covered |
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| Market Segmentation |
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| Companies Profiled |
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| Customization Scope | Available upon Request |
| Pricing | Available upon Request |
It was valued at US$ 103.1 Bn in 2022
It is projected to reach US$ 193.4 Bn by the end of 2031
Rise in adoption of smartphones and availability of reliable internet connection and legalization of online sports betting
Asia Pacific is projected to record the highest demand during the forecast period
888 Holdings plc, Betway Group, Cyber Bet, Entain plc, Kindred Group, Flutter Entertainment plc, Unibet, and Unikrn Inc.
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions
3. Research Methodology
4. Executive Summary
5. Market Overview
5.1. Introduction
5.2. Market Dynamics
5.2.1. Drivers
5.2.2. Restraints
5.2.3. Opportunities
5.3. Key Trends Analysis
5.3.1. Demand Side Analysis
5.3.2. Supply Side Analysis
5.4. Key Market Indicators
5.4.1. Overall Betting Industry Overview
5.5. Porter’s Five Forces Analysis
5.6. Value Chain Analysis
5.7. Industry SWOT Analysis
5.8. Technological Overview
5.9. Global Internet Sports Betting Market Analysis and Forecast, 2023 - 2031
5.9.1. Market Revenue Projection (US$ Bn)
6. Global Internet Sports Betting Market Analysis and Forecast, By Game Type
6.1. Global Internet Sports Betting Market Size (US$ Bn) Forecast, By Game Type, 2023 - 2031
6.1.1. Cybersports
6.1.1.1. Battle Ground
6.1.1.2. Call of Duty (CoD)
6.1.1.3. Counter-Strike
6.1.1.4. Dota 2
6.1.1.5. Hearthstone
6.1.1.6. League of Legends
6.1.1.7. FIFA
6.1.1.8. PES
6.1.1.9. eBasketball
6.1.1.10. Others
6.1.2. Table Tennis
6.1.3. Football
6.1.4. Basketball
6.1.5. Baseball
6.1.6. Hockey
6.1.7. Cricket
6.1.8. Boxing
6.1.9. Others
6.2. Incremental Opportunity, By Game Type
7. Global Internet Sports Betting Market Analysis and Forecast, By Device Type
7.1. Global Internet Sports Betting Market Size (US$ Bn) Forecast, By Device Type, 2023 - 2031
7.1.1. Desktops & Laptops
7.1.2. Tablets & Mobiles
7.2. Incremental Opportunity, By Device Type
8. Global Internet Sports Betting Market Analysis and Forecast, by Region
8.1. Global Internet Sports Betting Market Size (US$ Bn), by Region, 2023 - 2031
8.1.1. North America
8.1.2. Europe
8.1.3. Asia Pacific
8.1.4. Middle East & Africa
8.1.5. South America
8.2. Global Incremental Opportunity, by Region
9. North America Internet Sports Betting Market Analysis and Forecast
9.1. Regional Snapshot
9.2. Key Trend Analysis
9.3. Demographic Overview
9.4. COVID-19 Impact Analysis
9.5. Brands Analysis
9.6. Consumer Buying Behavior Analysis
9.7. Internet Sports Betting Market Size (US$ Bn) Forecast, By Game Type, 2023 - 2031
9.7.1. Cybersports
9.7.1.1. Battle Ground
9.7.1.2. Call of Duty (CoD)
9.7.1.3. Counter-Strike
9.7.1.4. Dota 2
9.7.1.5. Hearthstone
9.7.1.6. League of Legends
9.7.1.7. FIFA
9.7.1.8. PES
9.7.1.9. eBasketball
9.7.1.10. Others
9.7.2. Table Tennis
9.7.3. Football
9.7.4. Basketball
9.7.5. Baseball
9.7.6. Hockey
9.7.7. Cricket
9.7.8. Boxing
9.8. Internet Sports Betting Market Size (US$ Bn) Forecast, By Device Type, 2023 - 2031
9.8.1. Desktops & Laptops
9.8.2. Tablets & Mobiles
9.9. Internet Sports Betting Market Size (US$ Bn), by Country, 2023 - 2031
9.9.1. U.S.
9.9.2. Canada
9.9.3. Rest of North America
9.10. Incremental Opportunity Analysis
10. Europe Internet Sports Betting Market Analysis and Forecast
10.1. Regional Snapshot
10.2. Key Trend Analysis
10.3. Demographic Overview
10.4. COVID-19 Impact Analysis
10.5. Brands Analysis
10.6. Consumer Buying Behavior Analysis
10.7. Internet Sports Betting Market Size (US$ Bn) Forecast, By Game Type, 2023 - 2031
10.7.1. Cybersports
10.7.1.1. Battle Ground
10.7.1.2. Call of Duty (CoD)
10.7.1.3. Counter-Strike
10.7.1.4. Dota 2
10.7.1.5. Hearthstone
10.7.1.6. League of Legends
10.7.1.7. FIFA
10.7.1.8. PES
10.7.1.9. eBasketball
10.7.1.10. Others
10.7.2. Table Tennis
10.7.3. Football
10.7.4. Basketball
10.7.5. Baseball
10.7.6. Hockey
10.7.7. Cricket
10.7.8. Boxing
10.8. Internet Sports Betting Market Size (US$ Bn) Forecast, By Device Type, 2023 - 2031
10.8.1. Desktops & Laptops
10.8.2. Tablets & Mobiles
10.9. Internet Sports Betting Market Size (US$ Bn), by Country, 2023 - 2031
10.9.1. Germany
10.9.2. France
10.9.3. U.K.
10.9.4. Rest of Europe
10.10. Incremental Opportunity Analysis
11. Asia Pacific Internet Sports Betting Market Analysis and Forecast
11.1. Regional Snapshot
11.2. Key Trend Analysis
11.3. Demographic Overview
11.4. COVID-19 Impact Analysis
11.5. Brands Analysis
11.6. Consumer Buying Behavior Analysis
11.7. Internet Sports Betting Market Size (US$ Bn) Forecast, By Game Type, 2023 - 2031
11.7.1. Cybersports
11.7.1.1. Battle Ground
11.7.1.2. Call of Duty (CoD)
11.7.1.3. Counter-Strike
11.7.1.4. Dota 2
11.7.1.5. Hearthstone
11.7.1.6. League of Legends
11.7.1.7. FIFA
11.7.1.8. PES
11.7.1.9. eBasketball
11.7.1.10. Others
11.7.2. Table Tennis
11.7.3. Football
11.7.4. Basketball
11.7.5. Baseball
11.7.6. Hockey
11.7.7. Cricket
11.7.8. Boxing
11.8. Internet Sports Betting Market Size (US$ Bn) Forecast, By Device Type, 2023 - 2031
11.8.1. Desktops & Laptops
11.8.2. Tablets & Mobiles
11.9. Internet Sports Betting Market Size (US$ Bn), by Country, 2023 - 2031
11.9.1. China
11.9.2. India
11.9.3. Japan
11.9.4. Southeast Asia
11.9.5. Rest of Asia Pacific
11.10. Incremental Opportunity Analysis
12. Middle East & Africa Internet Sports Betting Market Analysis and Forecast
12.1. Regional Snapshot
12.2. Key Trend Analysis
12.3. Demographic Overview
12.4. COVID-19 Impact Analysis
12.5. Brands Analysis
12.6. Consumer Buying Behavior Analysis
12.7. Internet Sports Betting Market Size (US$ Bn) Forecast, By Game Type, 2023 - 2031
12.7.1. Cybersports
12.7.1.1. Battle Ground
12.7.1.2. Call of Duty (CoD)
12.7.1.3. Counter-Strike
12.7.1.4. Dota 2
12.7.1.5. Hearthstone
12.7.1.6. League of Legends
12.7.1.7. FIFA
12.7.1.8. PES
12.7.1.9. eBasketball
12.7.1.10. Others
12.7.2. Table Tennis
12.7.3. Football
12.7.4. Basketball
12.7.5. Baseball
12.7.6. Hockey
12.7.7. Cricket
12.7.8. Boxing
12.8. Internet Sports Betting Market Size (US$ Bn) Forecast, By Device Type, 2023 - 2031
12.8.1. Desktops & Laptops
12.8.2. Tablets & Mobiles
12.9. Internet Sports Betting Market Size (US$ Bn), by Country, 2023 - 2031
12.9.1. GCC
12.9.2. South Africa
12.9.3. Rest of Middle East & Africa
12.10. Incremental Opportunity Analysis
13. South America Internet Sports Betting Market Analysis and Forecast
13.1. Regional Snapshot
13.2. Key Trend Analysis
13.3. Demographic Overview
13.4. COVID-19 Impact Analysis
13.5. Brands Analysis
13.6. Consumer Buying Behavior Analysis
13.7. Internet Sports Betting Market Size (US$ Bn) Forecast, By Game Type, 2023 - 2031
13.7.1. Cybersports
13.7.1.1. Battle Ground
13.7.1.2. Call of Duty (CoD)
13.7.1.3. Counter-Strike
13.7.1.4. Dota 2
13.7.1.5. Hearthstone
13.7.1.6. League of Legends
13.7.1.7. FIFA
13.7.1.8. PES
13.7.1.9. eBasketball
13.7.1.10. Others
13.7.2. Table Tennis
13.7.3. Football
13.7.4. Basketball
13.7.5. Baseball
13.7.6. Hockey
13.7.7. Cricket
13.7.8. Boxing
13.8. Internet Sports Betting Market Size (US$ Bn) Forecast, By Device Type, 2023 - 2031
13.8.1. Desktops & Laptops
13.8.2. Tablets & Mobiles
13.9. Internet Sports Betting Market Size (US$ Bn), by Country, 2023 - 2031
13.9.1. Brazil
13.9.2. Rest of South America
13.10. Incremental Opportunity Analysis
14. Competition Landscape
14.1. Market Player – Competition Dashboard
14.2. Market Revenue Share Analysis (%), (2022)
14.3. Company Profiles (Details – Company Overview, Sales Area/Geographical Presence, Revenue, Strategy & Business Overview)
14.3.1. 888 Holdings plc.
14.3.1.1. Company Overview
14.3.1.2. Sales Area/Geographical Presence
14.3.1.3. Revenue
14.3.1.4. Strategy & Business Overview
14.3.2. Betway Group
14.3.2.1. Company Overview
14.3.2.2. Sales Area/Geographical Presence
14.3.2.3. Revenue
14.3.2.4. Strategy & Business Overview
14.3.3. Cyber Bet
14.3.3.1. Company Overview
14.3.3.2. Sales Area/Geographical Presence
14.3.3.3. Revenue
14.3.3.4. Strategy & Business Overview
14.3.4. Entain plc
14.3.4.1. Company Overview
14.3.4.2. Sales Area/Geographical Presence
14.3.4.3. Revenue
14.3.4.4. Strategy & Business Overview
14.3.5. Kindred Group
14.3.5.1. Company Overview
14.3.5.2. Sales Area/Geographical Presence
14.3.5.3. Revenue
14.3.5.4. Strategy & Business Overview
14.3.6. Flutter Entertainment plc
14.3.6.1. Company Overview
14.3.6.2. Sales Area/Geographical Presence
14.3.6.3. Revenue
14.3.6.4. Strategy & Business Overview
14.3.7. Unibet
14.3.7.1. Company Overview
14.3.7.2. Sales Area/Geographical Presence
14.3.7.3. Revenue
14.3.7.4. Strategy & Business Overview
14.3.8. Unikrn Inc.
14.3.8.1. Company Overview
14.3.8.2. Sales Area/Geographical Presence
14.3.8.3. Revenue
14.3.8.4. Strategy & Business Overview
15. Key Takeaways
15.1. Identification of Potential Market Spaces
15.1.1. By Game Type
15.1.2. By Device Type
15.1.3. By Region
15.2. Understanding Buying Process of Customers
15.3. Preferred Sales & Marketing Strategy
15.4. Prevailing Market Risk
List of Tables
Table 1: Global Internet Sports Betting Market, By Game Type, US$ Bn, 2023-2031
Table 2: Global Internet Sports Betting Market, By Device Type, US$ Bn, 2023-2031
Table 3: Global Internet Sports Betting Market, By Region, US$ Bn, 2023-2031
Table 4: North America Internet Sports Betting Market, By Game Type, US$ Bn, 2023-2031
Table 5: North America Internet Sports Betting Market, By Device Type, US$ Bn, 2023-2031
Table 6: North America Internet Sports Betting Market, By Country, US$ Bn, 2023-2031
Table 7: Europe Internet Sports Betting Market, By Game Type, US$ Bn, 2023-2031
Table 8: Europe Internet Sports Betting Market, By Device Type, US$ Bn, 2023-2031
Table 9: Europe Internet Sports Betting Market, By Country, US$ Bn, 2023-2031
Table 10: Asia Pacific Internet Sports Betting Market, By Game Type, US$ Bn, 2023-2031
Table 11: Asia Pacific Internet Sports Betting Market, By Device Type, US$ Bn, 2023-2031
Table 12: Asia Pacific Internet Sports Betting Market, By Country, US$ Bn, 2023-2031
Table 13: Middle East & Africa Internet Sports Betting Market, By Game Type, US$ Bn, 2023-2031
Table 14: Middle East & Africa Internet Sports Betting Market, By Device Type, US$ Bn, 2023-2031
Table 15: Middle East & Africa Internet Sports Betting Market, By Country, US$ Bn, 2023-2031
Table 16: South America Internet Sports Betting Market, By Game Type, US$ Bn, 2023-2031
Table 17: South America Internet Sports Betting Market, By Device Type, US$ Bn, 2023-2031
Table 18: South America Internet Sports Betting Market, By Country, US$ Bn, 2023-2031
List of Figures
Figure 1: Global Internet Sports Betting Market Projections by Game Type, US$ Bn, 2023-2031
Figure 2: Global Internet Sports Betting Market, Incremental Opportunity, by Game Type, US$ Bn, 2023-2031
Figure 3: Global Internet Sports Betting Market Projections by Device Type, US$ Bn, 2023-2031
Figure 4: Global Internet Sports Betting Market, Incremental Opportunity, by Device Type, US$ Bn, 2023-2031
Figure 5: Global Internet Sports Betting Market Projections by Region, US$ Bn, 2023-2031
Figure 6: Global Internet Sports Betting Market, Incremental Opportunity, by Region, US$ Bn, 2023-2031
Figure 7: North America Internet Sports Betting Market Projections by Game Type, US$ Bn, 2023-2031
Figure 8: North America Internet Sports Betting Market, Incremental Opportunity, by Game Type, US$ Bn, 2023-2031
Figure 9: North America Internet Sports Betting Market Projections by Device Type, US$ Bn, 2023-2031
Figure 10: North America Internet Sports Betting Market, Incremental Opportunity, by Device Type, US$ Bn, 2023-2031
Figure 11: North America Internet Sports Betting Market Projections by Country, US$ Bn, 2023-2031
Figure 12: North America Internet Sports Betting Market, Incremental Opportunity, by Country, US$ Bn, 2023-2031
Figure 13: Europe Internet Sports Betting Market Projections by Game Type, US$ Bn, 2023-2031
Figure 14: Europe Internet Sports Betting Market, Incremental Opportunity, by Game Type, US$ Bn, 2023-2031
Figure 15: Europe Internet Sports Betting Market Projections by Device Type, US$ Bn, 2023-2031
Figure 16: Europe Internet Sports Betting Market, Incremental Opportunity, by Device Type, US$ Bn, 2023-2031
Figure 17: Europe Internet Sports Betting Market Projections by Country, US$ Bn, 2023-2031
Figure 18: Europe Internet Sports Betting Market, Incremental Opportunity, by Country, US$ Bn, 2023-2031
Figure 19: Asia Pacific Internet Sports Betting Market Projections by Game Type, US$ Bn, 2023-2031
Figure 20: Asia Pacific Internet Sports Betting Market, Incremental Opportunity, by Game Type, US$ Bn, 2023-2031
Figure 21: Asia Pacific Internet Sports Betting Market Projections by Device Type, US$ Bn, 2023-2031
Figure 22: Asia Pacific Internet Sports Betting Market, Incremental Opportunity, by Device Type, US$ Bn, 2023-2031
Figure 23: Asia Pacific Internet Sports Betting Market Projections by Country, US$ Bn, 2023-2031
Figure 24: Asia Pacific Internet Sports Betting Market, Incremental Opportunity, by Country, US$ Bn, 2023-2031
Figure 25: Middle East & Africa Internet Sports Betting Market Projections by Game Type, US$ Bn, 2023-2031
Figure 26: Middle East & Africa Internet Sports Betting Market, Incremental Opportunity, by Game Type, US$ Bn, 2023-2031
Figure 27: Middle East & Africa Internet Sports Betting Market Projections by Device Type, US$ Bn, 2023-2031
Figure 28: Middle East & Africa Internet Sports Betting Market, Incremental Opportunity, by Device Type, US$ Bn, 2023-2031
Figure 29: Middle East & Africa Internet Sports Betting Market Projections by Country, US$ Bn, 2023-2031
Figure 30: Middle East & Africa Internet Sports Betting Market, Incremental Opportunity, by Country, US$ Bn, 2023-2031
Figure 31: South America Internet Sports Betting Market Projections by Game Type, US$ Bn, 2023-2031
Figure 32: South America Internet Sports Betting Market, Incremental Opportunity, by Game Type, US$ Bn, 2023-2031
Figure 33: South America Internet Sports Betting Market Projections by Device Type, US$ Bn, 2023-2031
Figure 34: South America Internet Sports Betting Market, Incremental Opportunity, by Device Type, US$ Bn, 2023-2031
Figure 35: South America Internet Sports Betting Market Projections by Country, US$ Bn, 2023-2031
Figure 36: South America Internet Sports Betting Market, Incremental Opportunity, by Country, US$ Bn, 2023-2031
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Internet Sports Betting Market
*86 figures and 60 tables includes