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Online Sports Betting Market is Predicted to Hit USD 59,530.7 Million at a CAGR of 13.6% by 2026 – Report by Market Research Future (MRFR)

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4 years ago

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According to a comprehensive research report by Market Research Future (MRFR), “Online Sports Betting Market – Information by Sports, Type and Application – Forecast till 2026″ the market size is expected to grow from USD 24,988.4 million in 2019 to USD 59,530.7 million by 2026, at a compound annual growth rate of 13.6%

Market Scope:
The global online sports betting industry is projected to expand at a healthy rate during the forecast period. Factors such as increasing sports demand and eSports activity demand are expected to drive the market during the study period. The growing digital innovation has also provided new opportunities for the online sports betting industry. However, government constraints in some countries are likely to stifle global business growth.

Dominant Key Players on Online Sports Betting market covered are:

  • 888 Holdings PLC (UK)
  •  Flutter Entertainment PLC (UK)
  •  Bet365 Group Ltd (UK)
  •  Fortuna Entertainment Group (Netherlands)
  •  Churchill Downs Incorporated (US)
  •  Entain PLC (UK)
  •  DraftKings (US)
  •  Betsson AB (Sweden)
  •  Betfred Ltd (UK)
  •  Webis Holdings PLC (Isle of Man)
  •  Kindred Group PLC (Malta)
  •  Sportech PLC (UK)
  •  BetAmerica (US)
  •  HKJC Football Betting Limited (Hong Kong)
  •  Megapari (Cyprus)

Market USP exclusively encompassed:
Market Drivers
The rising demand for sports is propelling the global online sports betting industry forward. Sport is an important platform for achieving growth goals. Sport can make a major contribution to social integration and economic development in a number of geographical, cultural, and political contexts. Through their effect on social capital, trust, culture, and crime, sports can further foster capital accumulation, encourage market functioning, and strengthen institutions. These specific outcomes are mutually reinforcing. Furthermore, participating in sports helps players live longer and healthier lives, which contributes to lower obesity rates. Diabetes and high blood pressure tend to be less common in healthy people. The global eSports industry is expanding, with an increasing number of people participating as competitors or spectators. It is increasingly becoming one of the world’s most famous spectator sports. Modern sports-only websites, similar to the advent of traditional sports betting websites, now offer ways to bet on events and tournaments, as many will be betting on esports.

Regional Analysis
By region, the global online sports betting market has been segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Europe led the online sports betting industry in 2019 with a volume of USD 12,146.2 million, and it is projected to hit USD 26,323.6 million by 2026 at a CAGR of 12.1%. With a market share of 48.6% in 2019, Europe is the largest contributor to Mobile Online Sports Betting. According to MRFR research, the rising sports spirit and zeal to watch sports in Europe are increasing day by day due to new game formats and gaming modes.

It has become a wide market for players and businesses like gambling and betting to place bets and enjoy themselves. Europe has had a presence of gambling and betting since the 1800s, but it has grown to the next level in recent years; with the adoption of smartphones and the evolution of technology, it is now very convenient to operate and play on the platforms provided by gambling industries.

Segmentation of Market Covered in the research:
The global online sports betting market has been segmented into sports type, type, and application.

Based on sports type, the global online sports betting market has been bifurcated based on the sports type into football, horse riding, cricket, tennis, baseball, volleyball, basketball, hockey, boxing, golf, racing, and others.

Based on application, the global online sports betting market has been divided into mobile-based and web-based applications for online betting. The web-based segment held a larger market share of 64.6% in 2018 and is anticipated to register a CAGR of 8.7% during the review period.

Industry News
In February 2021, Betfred Ltd signed the Rugby League “Double” for 2021, with a one-year contract to become the Challenge Cup’s title sponsor, adding to its long-standing relationship with the Super League. The agreement also includes sponsorship of the Women’s Challenge Cup.

In February 2021, Kindred Group plc announced an alliance with the Quechan Tribe of the Fort Yuma Indian Reservation to gain market access in California and Arizona. The deal, which spans ten years and has an extension clause at the end, allows the Group to offer both online and retail store betting, as well as iGaming. The launch in California and Arizona is contingent on the introduction of local legislation.

In March 2021, Dish Network and DraftKings announced a partnership to offer DraftKings sportsbook and daily fantasy experiences directly to DISH customers nationwide.

In January 2021, Churchill Downs Integrated rebranded its BetAmerica Sportsbook and iGaming platform as ‘TwinSpires.’

In May 2020, Flutter Entertainment PLC successfully purchased the stars group under its banner.

COVID-19 Impact on the Global Online Sports Betting Industry
The outbreak of novel coronavirus has had an effect on many industry verticals, including manufacturing, from raw material production to finished product delivery. On the other hand, in order to monitor the spread of deadly virus, government institutions around the world placed limits on various sporting activities. Owing to an increase in the number of COVID-19 cases worldwide, scheduled events such as the English Premier League, Serie A in Italy, La Liga in Spain, Super Lig in Turkey, and Major League Soccer in the United States were canceled or postponed.

Related Reports
Global Online Gambling Market Research Report: By Game Type (Betting, Casino, Poker, Lottery, Online Bingo, and others), Device Type (Desktop and Mobile), End-user (Gambling Enthusiasts, Social Exuberant and Dabblers) and Region (North America, Europe, Asia-Pacific, Middle East, and Africa and South America) – Forecast till 2027

Global Sports Analytics Market Research Report: By Sport (Football, Cricket, Baseball, Basketball, others),  By Type (On-Field, Off-Field), By Component (Solutions, Services), By Deployment Model (On-Premise, Cloud), By  Application (Player Analysis, Team Performance Analysis, Video Analysis, Health Assessment, Data Interpretation and Analysis, Others), By Region (North America, Europe, Asia Pacific, Middle East, and Africa, South America) – Forecast till 2027

Global Sports Technology Market Research Report: Information by Sports Type (Baseball, Basketball, Cricket, Ice Hockey, Tennis, Soccer, and Rugby), Technology (Devices (Wearables, Digital Signages, Cameras), Smart Stadium (Stadium & Public Security, Building Automation, Event Management), Statistics & Analytics, Esports (Ticketing & Merchandising, Sponsorship & Advertising, and Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2027

Global Mobile Gambling Market Research Report: By Type (Casino, Betting, Poker, Lottery, Online Bingo, and others), End-User (Gambling Enthusiasts, Social Exuberant and others), Region (North America, Europe, Asia Pacific, and the Middle East & Africa and South America) – Forecast till 2027

About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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ELK Studios Expands Partnership with SkillOnNet to Ontario Market

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6 hours ago

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April 8, 2025

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PlayOJO, SlotsMagic and SpinGenie to carry ELK Studios’ games in Ontario

Global entertainment brand SkillOnNet and innovative Swedish game creator Elk Studios have cemented their longstanding partnership with the launch of ELK’s groundbreaking portfolio in the Ontario market.

ELK Studios is responsible for some of the industry’s most innovative and engaging online casino games. Now, players at SkillOnNet’s Ontario-licensed casinos, PlayOJO, SlotsMagic and SpinGenie, will be able to experience the feature-packed delights of hit titles like Nitropolis, Tinkerbot and Pirot, as well as new release Orbitfall, and the studio’s signature X-iter and CollectR mechanics.

The expansion marks a milestone for ELK Studios as it continues to grow its footprint in regulated markets worldwide. SkillOnNet recently successfully launched the studio’s portfolio in the Spanish and Mexican markets through its Spanish-language brands and expects the studio’s games to make a similarly immediate impact with Ontario players.

Ontario has become a hugely important growth market since the province launched regulated online gaming in 2022. It was worth $2.4 billion in 2024, with $63 billion in wagering, the lion’s share coming from online casinos.

Jani Kontturi, Head of Games at SkillOnNet said: “ELK Studios is known for its high-quality games that blend unique storytelling and humour with high levels of engagement and playability, which is why we’re delighted to introduce them to Ontario. We believe they will perform successfully, as they have in other markets around the world.”

Vaida Cirtautaite, CCO at ELK Studios said: “SkillOnNet has been an invaluable partner in our growth journey, and we are thrilled to expand our collaboration into Ontario. We’re excited to bring our innovative games to a new wave of players in this dynamic market.”

The post ELK Studios Expands Partnership with SkillOnNet to Ontario Market appeared first on Gaming and Gambling Industry in the Americas.

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AGCO

Playnetic granted Ontario supplier license

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1 day ago

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April 7, 2025

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Global B2B iGaming content provider secures first Canadian market entry following the successful submission and approval of its gaming-related supplier application

Playnetic, the in-demand global B2B iGaming content provider known for its quality games, reliable delivery and outstanding customer service, has announced the approval of its gaming-related supplier application by the Alcohol and Gaming Commission of Ontario (AGCO).

With the AGCO licensing process being recognised in the industry for its rigorous standards and thorough due diligence, the new certification confirms Playnetic was able to meet the high levels of integrity and regulatory compliance needed to legally distribute its content within the province.

As a result of the approval, Playnetic has now secured its first Canadian market entry and will be able to provide its library of innovative games to licensed operators in the Ontario region – with this starting point paving the way for further expansion into other regulated provinces in future.

Given signs of change emerging within the Canadian market and Alberta making progress toward a regulated online model – likely drawing from Ontario’s framework – this license positions Playnetic strongly to expand its footprint in the country and further solidifies the company’s ambitious growth plans.

In the meantime, Playnetic has already begun making groundwork with key operators in the Ontario region and is looking forward to going live with some exciting brands over the coming months. The company will also be attending SBC’s Canadian Gaming Summit from June 17-19, where both existing and new potential partners alike are welcome to stop by and meet the team.

Dan Phillips, Chief Executive Officer at Playnetic, said: “Acquiring AGCO approval for our gaming-related supplier application is undoubtedly a big step for Playnetic. The new license not only secures our first Canadian market entry, but also reaffirms Playnetic’s position as a trusted provider in iGaming and underlines our commitment to compliance and operational excellence.”

Julian Borg-Barthet, Chief Commercial Officer at Playnetic, said: “We’re very excited to now be in a position to offer our library of innovative gaming content in Ontario, and the groundwork to do that with some of the region’s biggest licensed operators is already underway. Over time, we’re confident this license will also help us expand further into current markets and emerging regulated provinces, such as Alberta.”

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BetVictor

BetVictor Canada launches Tracy McGrady Safer Gambling campaign

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1 week ago

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March 31, 2025

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BetVictor Canada has launched its new out-of-home advertising campaign across the streets of Toronto to promote NBA legend Tracy McGrady as its Safer Gambling Ambassador.

Two mobile digital trucks strategically targeting high-traffic areas near Scotiabank Arena, Rogers Centre, and major sporting events will provide prime audience exposure for the campaign, scheduled around Toronto Maple Leafs, Toronto Raptors, and Toronto Blue Jays home games.

To further enhance the campaign’s reach, BetVictor Canada has partnered with Clear Media Group to leverage digital taxi tops across Toronto, providing city-wide exposure with 100 taxis displaying key brand messaging. These digital taxi tops will run during peak evening hours (5:00pm – 9:00pm) on select dates until April 5th, 2025.

The campaign coincides with Problem Gambling Awareness Month, a nationwide grassroots campaign held each March that seeks to increase public awareness of problem gambling and promote prevention, treatment, and recovery services.

BetVictor Canada offers an array of tools and services to help its Canadian customers bet and play safely and responsibly, across a host of sports betting markets and online casino games.

Mark Harper, Head of Emerging Markets at BV Group, said: “BetVictor is delighted to be participating in the National Council of Problem Gambling campaign in March, to help increase public awareness of problem gambling and the need to promote prevention, treatment and recovery services.

“In using our Safer Gambling Ambassador, Tracy McGrady, to raise awareness about BetVictor’s safer gambling tools such as loss limits, time alerts and product restrictions we are dedicated to ensuring all players have a safe gambling experience. #PGAM2025.”

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