online sports betting per year industry size

Online gambling's gross win in Europe was EUR 29.3 billion in 2022, according to the European Gaming & Betting Association. Moreover, there has been a rise in the popularity of draw-based and scratch-off instant games, especially across European countries, which positively impact the growth of the market studied. For instance, the total betting turnover of the Japan Racing Association (JRA) from horse racing was JPY 3.25 trillion, according to the Japan Association for International Racing. Sports betting is popular in the Asia-Pacific region. To meet different player interests, online gambling platforms provide various games, such as slots, poker, and sports betting. Casino gambling has been one of the rapidly growing gambling categories, owing to the convenience of usage and optimal user experience. The increased penetration of smartphones further leads to an increase in several mobile application-based lottery games as they provide end-users the convenience and comfort of gambling within their own space.

This represents one of the primary factors behind the immense popularity of online gambling services worldwide. The number of internet users worldwide was 5,300 million in 2022, according to the International Telecommunication Union (ITU).

Nowadays, a large portion of the global population has access to the Internet. The Online Gambling Market size is expected to grow from USD 60.63 billion in 2023 to USD 103.74 billion by 2028, at a CAGR of 11.34% over the next five years.

Online sports betting per year industry size