They are also expanding into new markets where demand for sports betting is growing.īetting is the action of predicting an event by gambling money on the outcome of a race, game, or other unpredictable event. Vendors in the global sports betting industry are collaborating with sports teams, leagues, and events to broaden their customer base. However, rise in concerns regarding money laundering and unfavorable tax laws and advertising restrictions in many countries are projected to limit the sports betting market growth during the forecast period. Online and live betting are gaining traction among users as they offer easy access to betting through smartphones and PCs.

Growth in online betting and increase in in adoption of betting in various sports are expected to propel the sports betting market size during the forecast period.

Global Sports Betting Market Outlook 2031