The global Internet Sports Betting market is expected to grow significantly by 2027 expanding at robust growth during the forecast period (2021-2027).

Sports betting is the activity of predicting sports results and placing a wager on the outcome. Surging internet penetration, adoption of smartphones and favorable regulatory outlook are some of the key factors that are contributing to the growth of sports betting. As per GSMA, For the first time, more than half of the world’s population – just over 4 billion people – are using mobile internet. 2020, By the end of 2020, 51% of the world’s population were using mobile internet, an increase of 225 million since the end of 2019. Also, the coverage continued to increase, with 94% of the population now covered by a mobile broadband network

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Emerging internet penetration and the surging adoption of smartphones are some of the key factors that are contributing to market growth. With internet users growing by an average of more than 1 million new users every day, it has been observed that the number of users is surging at an explosive rate of more than 11 new users per second globally. Mobile internet penetration, as well as mobile application use, also account for an ever-increasing share of online activities. Cell phones capture the major share of the total time spent by people on the internet. For instance, smartphone activities taking up the most time (over three hours a day) include instant messaging (38%), social media use (35%), listening to music (24%), and web browsing (20%). The activities taking up the least time (under five minutes a day) are SMS texting (51%), watching movies (43%), reading, and writing e-mail (38%), and talking on the phone (32%).
Smartphone adoption continues to increase. Globally, smartphones accounted for 68% of total mobile connections in 2020,8 compared to 64% in 2019 and 47% in 2016). South Asia has seen the strongest growth in smartphone adoption in recent years, increasing from 30% of connections in 2016 to 63% in 2020. India has been at the forefront of this growth, with smartphone adoption among adults increasing from 22% in 2017 to 51% in 2020. moreover, the introduction of 5G technology across countries is also leading to the growing market for internet sports betting.

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Based on the game type the market is fragmented into Cybersports, Football, Basketball, Hockey, Cricket, and Others. The football segment grabbed XX% market share in 2020 and captured USD XX Mn market in 2020. The growing popularity of football games especially in European countries is leading to the growth of the segment. As per research conducted by the University of Bath, some young men said they can no longer watch a football match unless they have multiple bets; commonly they have up to 25 accounts with online gambling companies, and their football conversations with mates are all about betting, rather than the game.

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Based on the device type, the market is fragmented into Desktops & Laptop, and Tablets & Mobile. The tablet & mobile segment captured XX% Market share in 2020 and dominated the market. Mobile wagering has become the preferred method of sports gamblers. Now, almost every online betting site has a mobile version of their site, so that one can use that platform to place bets no matter what piece of technology you are accessing the site from. The launch of several mobile apps to enhance user experience is contributing to the growth of the segment.

Additionally, the report provides detailed initiatives that are being taken in the field of Internet Sports Betting. The market is classified into distinct regions including North America (the U.S, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, and United Kingdom and the Rest of Europe), Asia-Pacific (China, Japan, Australia, India, and the Rest of APAC), Rest of World has been conducted. Europe region grabbed XX% market and captured USD XX Mn market share in 2020. However, North America would witness robust CAGR in the forthcoming years. According to the New York Times, roughly US$150 billion is wagered illegally on sports each year in the U.S.

Global Internet Sports Betting Market Segmentation

Market Insight, by Game Type

• Cybersports
• Football
• Basketball
• Hockey
• Cricket
• Others

Market Insight, by Device Type

• Desktops & Laptop
• Tablets & Mobile

Market Insight, by Region

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • France
  • Germany
  • Spain
  • Italy
  • United Kingdom
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Rest of World

Top Company Profiles

• Cyber Bet
• Betway Group
• Flutter Entertainment
• Fortuna Entertainment Group
• William Hill Limited
• Unikrn Inc.
• Unibet
• Kindred Group
• Entain Plc.
• 888 Holdings Plc.