The sports betting market involves wagering on the outcome of sports events through online sportsbooks, mobile apps, and physical betting outlets. Polaris Market Research valued the market at USD 32.86 billion in 2025, with a 2026 value of USD 36.34 billion and a projection of USD 82.43 billion by 2034, a CAGR of 10.8% for 2026 to 2034.
Mobile Betting Apps Are the Primary Gateway
The proliferation of 5G smartphones and mobile apps has become the primary gateway to sports betting platforms. Pew Research Center data cited in the report indicates that approximately 91% of the population in America uses a smartphone. Mobile betting apps let users place bets anytime and anywhere, with real-time odds updates, in-play options, and push notifications keeping them engaged. Enhanced security protocols and biometric features improve trust and usability. The report concludes that this mobile-first shift is driving higher engagement rates, longer session times, and stronger revenue growth.
In-Play Betting Leads by Type
In 2025, the live and in-play segment accounted for the largest revenue share by type. In-play betting lets bettors wager during a live event, reacting to changes in momentum, player performance, or game situations, and the odds change continuously. Streaming integrations and interactive graphics keep bettors engaged throughout a match. Sportsbooks benefit from higher turnover and margin opportunities because this format drives more frequent and varied betting.
E-Sports Betting Is the Fastest-Growing Type
E-sports betting is expected to register the major CAGR among types, at 14.6%, owing to the growing digital audience base and the expansion of competitive gaming. Titles such as Dota 2, Counter-Strike, and League of Legends attract millions of viewers, many of whom engage in betting. Live-streamed tournaments, influencer-driven fan bases, and game-specific betting options foster engagement, and platforms are adding specialized markets and streaming analytics. Betting on e-sports tournaments is growing rapidly among younger audiences, and its digital-native nature aligns well with online sportsbooks and mobile platforms.
Online Sportsbooks Versus Retail Channels
By platform, the online segment is expected to register the fastest CAGR of approximately 13.0% from 2026 to 2034, driven by the shift toward digital-first experiences. Online sportsbooks offer real-time updates, secure digital wallets, and advanced interfaces, and they benefit from lower overhead costs and broader geographic reach. AI-powered odds prediction and personalized dashboards make the experience more interactive.
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https://www.polarismarketresearch.com/industry-analysis/sports-betting-market
Sports Sponsorships and Media Integration
The growing popularity of international leagues and tournaments is widening the audience base. Events such as the FIFA World Cup, Olympics, NBA, and IPL attract millions of viewers, many of whom participate in betting. Betting firms are forming sports sponsorships and advertising partnerships with teams, leagues, and broadcasters, often including co-branded content, exclusive promotions, and in-stadium activations. In October 2024, Bet365 partnered with the Denver Nuggets and Colorado Avalanche. In January 2026, X Games and Stake collaborated on tailored betting experiences in action sports, and in March 2026 Formula 1 named Super Group's Betway its first Official Betting Operator beginning with the 2026 season.
Regional Leaders and Segment Highlights
North America accounted for the largest revenue share of 49.80% in 2025, driven by the legalization of sports betting. Asia Pacific is expected to witness the highest regional CAGR of 11.1%, fueled by growing internet penetration and smartphone use. By sport, football held the largest revenue share of 30.0%, while cricket is projected to register the fastest CAGR.
Key Companies
Key companies listed in the report are 888 Holdings Plc, Bet365, Betsson AB, Churchill Downs Incorporated, Entain plc, Flutter Entertainment Plc, IGT, Kindred Group Plc, Sportech Plc, and William Hill Plc. In September 2024, Flutter Entertainment acquired a 56% stake in Brazil's NSX Group, owner of Betnacional, for approximately USD 350 million.
Future Outlook
The Sports Betting Market is poised for continued growth as online platforms, mobile applications, and digital payment systems become more accessible. Regulatory developments and legalization across additional regions may create new revenue opportunities. Live betting, personalized promotions, and data-driven wagering experiences are expected to attract more users. Artificial intelligence and analytics will increasingly support engagement and responsible gaming initiatives. Partnerships between betting platforms and sports organizations may further strengthen market development.
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