Sports Betting Revenue in 2024: A Deep Dive into Global Market Trends
Global Market Size and Growth
The worldwide sports betting market generated approximately USD 150 billion in gross revenue in 2024, representing a growth rate of about 8–10 percent over the 2023 total of around USD 137 billion. Major contributors include North America, Europe, and Asia‑Pacific markets.
Regional Breakdown
North America
North America continued its rapid expansion, driven by increased legalization across U.S. states and digital adoption. The United States alone accounted for roughly USD 40–45 billion, up from approximately USD 35 billion in 2023. Canada added another USD 2–3 billion.
Europe
In Europe, the United Kingdom, Italy, Spain, Germany, and Scandinavia remained key markets. Together they contributed around USD 50 billion, with stable year‑over‑year growth in the 5–7 percent range.
Asia‑Pacific
While still more restricted in many countries, Asia‑Pacific reached approximately USD 30–35 billion in gross revenue. Markets such as Australia and parts of Southeast Asia led the growth, with increasing online and mobile betting.
Latin America & Others
Latin America delivered about USD 10–12 billion, supported by Brazil, Argentina, and Mexico. Africa and the Middle East together contributed roughly USD 5–7 billion, mostly driven by unregulated or semi‑regulated digital markets.
Revenue by Channel
- Online and Mobile Betting: These platforms accounted for 65–70 percent of total revenue, thanks to widespread smartphone adoption and the rise of mobile apps and live in‑play wagering.
- Retail (Brick‑and‑Mortar): Physical sportsbooks and betting shops still made up 30–35 percent, although their share continues to decline.
Key Market Drivers in 2024
- Regulatory Expansion: Further legalization in U.S. states and regulatory improvements in Europe and Latin America fueled higher accessibility.
- Technological Enhancements: Advances in mobile apps, live‑in‑play features, and AI‑driven personalization increased user engagement.
- Major Sports Events: Global tournaments such as the UEFA Euro 2024 and other international events boosted betting volume.
Projections & Outlook
Analysts project that the sports betting market will surpass USD 180 billion by 2026, with a projected compound annual growth rate (CAGR) of about 8–9 percent from 2024 onward. Continued legalization, better regulation, and technological innovation remain the major growth catalysts.
Summary Table
| Region | Estimated 2024 Revenue (USD billion) | Approx. Share (%) |
|---|---|---|
| North America | 42 ± 3 | ~28% |
| Europe | 50 ± 3 | ~33% |
| Asia‑Pacific | 32 ± 3 | ~21% |
| Latin America | 11 ± 1.5 | ~7% |
| Africa & Middle East | 6 ± 1 | ~4% |
| Global Total | ~150 | 100% |
Key Takeaway
The global sports betting industry reached an estimated USD 150 billion in gross revenue in 2024, driven by online/mobile growth, regulatory expansion, and high‑profile sporting events. North America and Europe lead, with Asia‑Pacific and Latin America showing robust growth potential.
