40+ betting statistics for 2024 

Betting. For some, a temptation to get rich, for others an exciting pastime, and for still others a test of sports knowledge.

It is true that this market is very prosperous. How much? We’ll find out in just a moment.

We will start with some of the most important statistics, not only for 2024. Grab a hot cup of coffee, sit back, and read on.

The online sports betting market overview

As a result of changing customer preferences, emerging trends, and local special circumstances, the online sports betting market is experiencing significant growth worldwide. 

Customer preferences

The shift in customer preference toward online sports betting has been led by several factors. Take a look at examples:

  • The foremost factor is the convenience and accessibility provided by online platforms, as they allow enthusiasts to wager on their preferred sports events from anywhere. This ease of access has significantly increased participation in online betting. 
  • Moreover, the diversity of sports events and betting options available online has attracted a broader audience seeking excitement and variety. 
  • Also, now we have live streaming and in-play betting features. It has further enriched the betting experience and made it more interactive and captivating for users.

Trends

What about market trends? Well, the evolution of the online sports betting industry is also being propelled by them. 

  • The widespread use of mobile devices for betting has revolutionized the industry and enabled bettors to place wagers on the go. This mobility is anticipated to drive the industry’s growth as mobile technology advances and gains wider acceptance among users. 
  • Additionally, the emergence of eSports betting is fueled by the global rise in competitive video gaming. As a result, it is opening new avenues and attracting a demographic passionate about video games and interested in betting on these events.

Special circumstances

But, of course, we also have local regulations and economic conditions that impact the online sports betting landscape. Just see:

  • In regions where online betting is legalized and regulated, there is a conducive environment for both operators and customers that is stimulatimg market growth and innovation. Conversely, in jurisdictions where such activities are banned or heavily restricted, there’s a tendency for bettors to resort to unregulated platforms.
  • Another influential area is economics. It’s factors, like the level of disposable income and consumer confidence, also play a crucial role in determining the spending behavior on leisure activities such as online sports betting. 
  • Also, the digital transformation of economies and the increasing comfort with online financial transactions have further supported the sector’s expansion.

The most important 40+ betting statistics

  • The worldwide sports betting and lottery sector was valued at more than $235 billion in 2022.
  • This score is a decrease from $242.82 billion the previous year, 2021.
  • The global online gambling and betting market was reported at $63.53 billion in 2022. 
  • The global sports betting industry employed over 200,000 individuals in 2022.
  • More than 25 million Americans participated in sports betting in 2022.
  • The National Lottery in the UK reported sales of over £8 billion between April 2021 and March 2022, with over £4.6 billion allocated as prize money during the same period.
  • Projections estimated that the market was expected to grow to $242 billion in 2023.
  • There were above 24 thousand businesses in the sports betting industry globally in 2023.
  • This figure was forecast to increase by 47% by 2025.
  • Each user is predicted to contribute an average revenue of approximately $350.
  • In 2023, “bet365” was the highest-valued gambling brand in the world, with a value of $4.02 billion.
  • In second place was Malaysia’s Genting, with a value of $3.62 billion.

  • The online sports betting market is expected to reach a valuation of $49.96 billion by 2024. 
  • For the year 2025, the total revenue for the online sports betting market is expected to be approximately $55.52 billion – above 5 billion more than in the previous year.
  •  The sports betting market’s revenue in 2027 is projected to be $63.62 billion.
  •  There’s an increase of $51.29 billion over the decade (2018-2028.)
  •  The change in sports betting revenue in 2025 is anticipated to be around 11.1%. 

  • The revenue from betting on eSports growing the slowest year after year.
  •  The rate of revenue growth from betting on the “other” group is growing the fastest.
  •  The most popular sport in betting is Basketball.
  •  The second most popular sport in betting is Boxing / MMA.
  •  The sports betting revenue generated by tennis is expected to show continuous growth, remaining one of the top sports by 2028.
  •  In 10 years, revenue by sport type will increase by more than $40 billion (2017-2027.)

  •  The ARPU in the sports betting industry has shown a steady increase, with a slight growth expected from $0.36 thousand to $0.37 thousand between 2027 and 2028.
  •  ARPU has increased by $0.01 thousand since 2023.
  •  Over the 10-year period (2018-2028), ARPU increased by only $0.03 thousand, with periods of spikes and increases.

  •  A significant revenue change was observed in the sports betting sector around the years 2021 and 2022, which may correlate with global events affecting the market.
  •  The online sports betting user base is anticipated to grow steadily, reaching 156.9 million by 2025.
  •  By 2027, the online sports betting market is expected to have nearly 174.5 million users.
  •   That’s not all, as by 2028, the number of users engaging in online sports betting will grow by another 6 million users.

  •  The penetration rate is projected to increase from 1.9% in 2024 to 2.1% by 2026.
  •  In 2028, the user penetration rate is estimated to hit 2.3%
  •  The increase from 2017 to 2027 represents a 367% rise in the penetration rate over the 10-year period.

  •  Canada is expected to lead in terms of user penetration and boasts a rate of 48.9%.
  •  A noteworthy highlight is Australia’s dominance in generating the highest revenue within this sector, estimated at US$9,757.00 million in 2024.
  •  The UK also has come to the forefront of the global online sports betting market thanks to a well-regulated industry and strong consumer demand.
  •  In 2024, the top five countries by user penetration rate (in %) in sports betting also included Luxembourg and South Korea.

  •  The United States sports betting revenue was $7.56 billion in 2022.
  •  After having legalized sports betting in 2019, they expect to see its industry revenue reach up to $10 billion by 2028.
  •  Australia and the UK still remain in the top 3.
  •   In 2024, the top five countries by user penetration rate (in million USD) in sports betting also included Japan and Germany.

  • From 2018 to 2021, revenue from the gambling sector grew – at first quickly, then lost its pace. 
  •  Due to the Russian-Ukrainian war, revenue began a sharp decline from 2022.
  •  The revenue change peaked at 25.3% before entering a period of decline.
  •  The rate of decline will continue until 2028 (5.6%) and will slowly decelerate.

Over to you

The online sports betting market is generally doing well and continues to flourish. It is experiencing significant growth worldwide due to changing customer preferences, emerging trends, local conditions, and underlying macroeconomic factors. Due to the Russian-Ukrainian war, revenue change as a percentage is declining – nevertheless, expectations are rather positive and despite this, the market promises to continue to grow in the coming years.

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