During the research period, factors such as increased sports demand and eSports activity demand are likely to boost the market. During the projected period, the global online sports betting market is predicted to increase at a healthy rate. The global sports betting market size was valued at USD ** billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of ** from 2022 to 2032. However, online sports betting grew in popularity throughout the epidemic. Due to limits on sporting activity in most regions of the world, the COVID-19 epidemic had a significant impact on the sports sector. The altering legal landscape of the overall gambling business, the ubiquity of connected devices, and the increasing digital infrastructure all fuel demand for sports betting. As a result, the global sports betting business is being fueled by the exponential growth of sports leagues and events. Customers might increase their wagering expenditures when new professional sports leagues emerge across the world. The increasing number of sports leagues and events increases demand for the sports betting market.

However, evidence of ongoing weak-form inefficiencies in sports betting markets exists.

As a result, we may anticipate a good level of efficiency to new information in both markets. Sports betting markets are similar to financial markets in that they both feature a large number of greedy players who risk capital, different degrees and types of knowledge, and strong financial incentives to act swiftly and rationally on the best information in marketable circumstances. Sports betting markets have a lot in common with stock markets.

This also applies to nonhuman competitions such as greyhound racing, horse racing, and illicit, underground cockfighting. Sports betting may also extend to non-athletic activities such as political elections and reality show competitions. Sports wagered on vary by culture, with the great majority of wagers put on association sports such as mixed martial arts, American football, basketball, baseball, hockey, track cycling, car racing, and boxing at both the personal and amateur levels. Sports betting are the action of forecasting sports events and then wagering on the outcome. Sports betting Market size exceeded USD 76 billion in 2021 and is estimated to achieve over 12.4% CAGR during the forecast period.

Global sports betting industry overview