Summary
- • The global sports betting market size was valued at USD 76.75 billion in 2021
- • The sports betting market is expected to grow at a CAGR of 10.2% from 2022 to 2030
- • In 2021, the online segment accounted for the largest revenue share of over 50% in the sports betting market
- • The fixed-odds wagering segment dominated the sports betting market with a share of over 70% in 2021
- • The football segment held the largest revenue share of over 40% in 2021
- • In 2022, the US sports betting handle reached $93.2 billion
- • US sportsbooks generated $7.5 billion in revenue in 2022
- • As of 2023, sports betting is legal in 33 US states and Washington D.C.
- • New York led all US states in sports betting handle with $16.2 billion in 2022
- • New Jersey was second in US sports betting handle with $10.9 billion in 2022
- • The UK gambling industry, including sports betting, generated £14.2 billion in gross gambling yield from April 2019 to March 2020
- • Online gambling, including sports betting, accounted for 39.9% of the UK gambling market in 2019/2020
- • The UK had 30.2 million active online gambling accounts in 2019/2020
- • Football betting accounted for 47% of all online sports betting in the UK in 2019/2020
- • Horse racing was the second most popular sport for betting in the UK, accounting for 32% of online sports bets in 2019/2020
Step right up, folks, because we are diving headfirst into the exhilarating world of sports betting! With a global market size soaring to USD 76.75 billion in 2021 and projected to continue its upward trajectory at a brisk pace of 10.2% CAGR, its clear that the stakes are high and the game is on fire. From the dominance of online wagering to the fierce battle between DraftKings and FanDuel for market share supremacy, this blog post is your ticket to the dazzling stats and insights that shape this thrilling industry.
Betting Behavior
- In-play betting accounts for 70% of all sports bets placed in the UK
- 56% of US sports bettors place bets at least once per week
- The average US sports bettor spends $73 per bet
- 50% of US sports bettors prefer to bet using mobile apps
- 74% of UK sports bettors use their smartphones to place bets
- The Super Bowl is the most bet-on single sporting event in the US, with an estimated $7.61 billion wagered in 2023
- March Madness is the second most popular betting event in the US, with an estimated $3.1 billion wagered in 2022
Interpretation
In the ever-evolving world of sports betting, the numbers speak volumes about the modern-day gambling landscape. With in-play action reigning supreme in the UK and mobile apps taking the US by storm, it's clear that convenience and real-time excitement are key drivers for bettors. The staggering amounts wagered on marquee events like the Super Bowl and March Madness underscore the insatiable appetite for sports betting in America. As fans embrace the thrill of betting, one thing is certain: the game within the game is just getting started.
Demographics
- The average age of sports bettors in the US is 38 years old
- 79% of sports bettors in the US are male
- 45% of US sports bettors have a household income of $75,000 or more
- 34% of US sports bettors have a bachelor's degree or higher
- 18% of US adults bet on sports in 2022
- The average sports bettor in the UK is 35 years old
- 70% of sports bettors in the UK are male
Interpretation
Statistics show that sports betting continues to be a pursuit dominated by the middle-aged male demographic, with a healthy dose of disposable income thrown into the mix. It seems that while the US and the UK may be divided by miles of ocean, they are united in their love for placing wagers on the outcome of sports events. So, if you ever find yourself in need of a stimulating conversation about the odds of your favorite team winning, just look for a slightly stressed-looking, well-educated male in his late thirties – chances are, he's your guy.
Market Size
- The global sports betting market size was valued at USD 76.75 billion in 2021
- The sports betting market is expected to grow at a CAGR of 10.2% from 2022 to 2030
- In 2021, the online segment accounted for the largest revenue share of over 50% in the sports betting market
- The fixed-odds wagering segment dominated the sports betting market with a share of over 70% in 2021
- The football segment held the largest revenue share of over 40% in 2021
- The global sports betting market is expected to reach $140.26 billion by 2028
- Asia Pacific region accounted for 34% of the global sports betting market share in 2021
Interpretation
With the global sports betting market evolving faster than an Olympic sprinter, the numbers don't lie: money talks, and it's shouting from the sidelines. As the online segment plays referee, blowing the whistle on traditional brick-and-mortar bookies, it's clear that fixed-odds wagering is the MVP of the game. In this high-stakes match, football emerges as the superstar athlete pulling in the big wins, capturing hearts and wallets alike. With Asia Pacific boldly stepping onto the podium, claiming its share of the sporting glory, one thing is certain: the thrill of the bet isn't just a game—it's a global phenomenon set to score some serious cash goals.
Marketing and Advertising
- The sports betting industry spent $154 million on TV advertising in the US in 2021
- DraftKings spent $1.2 billion on sales and marketing in 2022
- FanDuel spent approximately $1 billion on marketing and sales in 2022
- Sports betting companies spent $725 million on local TV advertising in the US in 2021
- The average customer acquisition cost for US sportsbooks is estimated to be between $300 and $500
Interpretation
In a world where the odds are constantly changing, the sports betting industry seems to be going all-in on advertising and customer acquisition. With eye-popping figures like $1.2 billion and $1 billion being thrown around by DraftKings and FanDuel for sales and marketing, it's clear that these companies are playing to win. Perhaps the most telling sign of the high-stakes game being played is the estimated customer acquisition cost of $300 to $500 per person, showing that in this industry, you've got to bet big to win big. It's a high-octane, high-risk, high-reward game where every commercial break and marketing strategy is a move in the ongoing battle for market share.
Mobile Betting
- The global mobile sports betting market size was valued at $21.4 billion in 2020
- The mobile sports betting market is projected to reach $155.49 billion by 2028
- Mobile betting accounts for 80% of all online sports bets in the US
- In New Jersey, 90% of sports bets are placed through mobile devices
- The average mobile sports bettor spends 15-20 minutes per day on betting apps
Interpretation
The meteoric rise of mobile sports betting is a testament to the ever-evolving landscape of the gambling industry. With numbers soaring higher than a winning touchdown pass, it's clear that punters are now firmly holding the reins of their betting experience in the palms of their hands. As mobile betting becomes the MVP of online sports wagering, it's no surprise that traditional bookies are left in the dust, desperately trying to keep up with the pace of tech-savvy bettors. In a world where a mere flick of the finger can potentially lead to both glory and defeat, it seems that the realm of sports betting has officially entered the mobile era, with punters now able to make quick bets faster than you can say "double down."
Responsible Gambling
- Problem gambling affects approximately 1% of the US adult population
- In the UK, 0.5% of people aged 16 and over are classified as problem gamblers
- 78% of US sportsbooks offer self-exclusion programs
- The UK Gambling Commission requires all licensed operators to contribute to research, education, and treatment of problem gambling
- In 2020, UK gambling operators contributed £100 million to responsible gambling initiatives
Interpretation
These statistics paint a sobering yet hopeful picture of the gambling industry. While problem gambling remains a concern in both the US and the UK, the proactive measures taken by sportsbooks and regulators indicate a growing awareness and willingness to address the issue. With nearly 80% of US sportsbooks offering self-exclusion programs and the UK Gambling Commission's requirement for operator contributions to responsible gambling initiatives, there is a sense of responsibility and determination to support those struggling with gambling addiction. As they say, in this high-stakes game, the best bet is on accountability and compassion.
Sportsbook Operators
- DraftKings and FanDuel combined hold over 60% of the US online sports betting market share
- BetMGM holds approximately 15% of the US online sports betting market share
- Caesars Sportsbook holds about 8% of the US online sports betting market share
- bet365 is the largest online sportsbook globally, with over 63 million customers worldwide
- William Hill operates in over 10 countries and has a 27% market share in the UK
Interpretation
In the high-stakes world of online sports betting, DraftKings and FanDuel have certainly placed their bets strategically, holding a commanding 60% share of the US market. Meanwhile, BetMGM's 15% stake proves they are in the game with a solid hand, while Caesars Sportsbook's 8% share demonstrates they are still contenders at the table. However, bet365 emerges as the true heavyweight champion, boasting an impressive 63 million worldwide customers, making their global dominance crystal clear. And let's not overlook William Hill, who may have a smaller global presence but certainly wields significant influence in the UK with a 27% market share and operations in over 10 countries. Betting enthusiasts everywhere continue to watch with bated breath as these industry giants play their cards in this exhilarating game of numbers.
Sportsbook Performance
- The average hold percentage for US sportsbooks in 2022 was 7.2%
- Nevada sportsbooks had the lowest hold percentage in the US at 5.5% in 2022
- New York sportsbooks had the highest hold percentage in the US at 8.5% in 2022
- The global average sports betting margin is between 5% and 7%
- European sportsbooks typically have lower margins, averaging around 4-5%
Interpretation
In the world of sports betting, it seems that holding onto a good margin is a fine art, much like hanging on to a once-in-a-lifetime catch in the end zone. With Nevada sporting the nimblest fingers in the game, snatching a mere 5.5% hold percentage, while New York boasts a grip as tight as its traffic with an 8.5% hold. As for the global betting arena, it's a menagerie of margins, with Europe strutting its stuff at a svelte 4-5% average. So, whether you're laying down your chips stateside or across the pond, remember, in the betting world, a margin too large might see your winnings slip through your fingers, but a margin too thin could leave you grasping at air.
UK Market
- The UK gambling industry, including sports betting, generated £14.2 billion in gross gambling yield from April 2019 to March 2020
- Online gambling, including sports betting, accounted for 39.9% of the UK gambling market in 2019/2020
- The UK had 30.2 million active online gambling accounts in 2019/2020
- Football betting accounted for 47% of all online sports betting in the UK in 2019/2020
- Horse racing was the second most popular sport for betting in the UK, accounting for 32% of online sports bets in 2019/2020
Interpretation
In a world where the outcome of a sports event is just as thrilling as the stakes placed upon it, the statistics from the UK gambling industry present a picture of a nation deeply invested in the art of predicting and wagering. With £14.2 billion in gross gambling yield, it's clear that the Brits are not ones to shy away from a flutter. Online gambling has emerged as a formidable player in this high-stakes game, capturing nearly 40% of the market and attracting a whopping 30.2 million active online gambling accounts—a testament to the allure of virtual betting. Football remains the king of the pitch and the bookies, commanding almost half of all online sports betting activities, while horse racing gallops closely behind, proving that in the race to win big, some traditions never go out of style. As the UK continues to play the odds, one thing is for certain—when it comes to gambling, there's always more than meets the eye.
US Market
- In 2022, the US sports betting handle reached $93.2 billion
- US sportsbooks generated $7.5 billion in revenue in 2022
- As of 2023, sports betting is legal in 33 US states and Washington D.C.
- New York led all US states in sports betting handle with $16.2 billion in 2022
- New Jersey was second in US sports betting handle with $10.9 billion in 2022
- The US sports betting market is projected to reach $39.7 billion by 2033
Interpretation
The numbers don't lie - in the world of sports betting, the United States is making serious moves. With a staggering $93.2 billion handle and $7.5 billion in revenue in 2022, it's clear that Americans are not just passionate about their sports, but also about putting their money where their mouths are. New York and New Jersey are leading the charge, showing that the East Coast is not to be underestimated when it comes to betting action. With 33 states and Washington D.C. already on board, it seems like the only way for the US sports betting market is up, with projections soaring to $39.7 billion by 2033. It's a high-stakes game, but one that seems to have America firmly in its grip.
eSports Betting
- The global eSports betting market was valued at $12.67 billion in 2020
- The eSports betting market is expected to reach $22.45 billion by 2025
- Counter-Strike: Global Offensive (CS:GO) is the most popular eSport for betting, accounting for 38% of eSports betting volume
- Dota 2 is the second most popular eSport for betting, with 29% of eSports betting volume
- League of Legends accounts for 18% of eSports betting volume
Interpretation
In the high-stakes arena of eSports betting, it's clear that gamers and punters alike are putting their money where their virtual skills are. With the global eSports betting market poised to more than double in value by 2025, it's evident that the allure of betting on competitive gaming knows no bounds. Counter-Strike: Global Offensive maintains its stronghold as the darling of eSports betting, proving that in this digital battlefield, precision and tactics reign supreme. Yet, with Dota 2 and League of Legends nipping at its heels, the competition is fierce and the stakes are higher than ever. So, grab your controllers and place your bets – the game is on, and the payout is no virtual matter.
