Global Sports Betting Projected To Surge Further

  • Zion Market Research released a study that projects the global sports betting market will reach $179.3 million in revenue by 2028.
  • The global sports betting industry hit $131.1 billion in revenue for 2020.
  • The American Gaming Association (AGA) has reported 45.2 million Americans will be betting on the NFL this season.

WASHINGTON – Sports betting has expanded in recent years and not just in the US but with markets opening on a worldwide level.

A recent study conducted by Zion Market Research has revealed that the global sports betting market is set to be valued at approximately $179.3 billion in the years to come.

The US and its various industries alone are expected to continue to grow with multiple states planning to launch regulated sports betting in the near to distant future.

Global Betting Revenue

The study revealed that the global sports gaming market saw $131.8 billion in sports betting revenue in 2020. Based on the steady growth of the market, Zion Market Research came to the $179.3 billion approximation.

The study encompasses all active sports betting markets in North America, Europe, Asia Pacific, Latin America, Africa, and the Middle East.

The research was gathered from multiple fixtures in the global sports betting industry, including 888 Holdings PLC, GVC Holdings PLC, Kindred Group, Paddy Power Betfair PLC, William Hill PLC, Bet365 Group Ltd., The Stars Group Inc., DraftKings, Betsson AB, and BetAmerica.

Based on these sports gaming entities’ growth rate, revenue reports, and projections, Zion Market Research was able to conclude the overall market increasing 8.83% between 2021 and 2028.

US Market Growth

The US market alone has continued to expand in a rapid fashion since the repeal of PASPA in 2018. There are over 30 states with regulated sports betting industries that have either already launched or have passed legislation and are working towards a launch. This year alone will be seeing the additions of the Arizona, Connecticut, Florida, Louisiana, and Wyoming sports betting markets, bringing an entirely new set of betting fans to the world of sports wagering and even more money to the researched projections.

Researchers at the American Gaming Association (AGA) have reported a record-high 45.2 million Americans are expected to bet on the 2021 NFL this season. That is 18% of total Americans and a 36% increase in betting fans compared to 2020.

“Sports betting is more popular than ever among Americans, and the enthusiasm of bettors for the upcoming NFL season highlights the remarkable growth of the industry over the past three years,” said Bill Miller, AGA President and CEO. “Importantly, when the 2021 NFL season begins, more than 111 million* American adults will be able to wager safely with regulated sportsbooks in their home states rather than with the predatory illegal market.”

Sports betting has become a global powerhouse and it is showing no signs of slowing down. As the US and the rest of the world continue to embrace wagering on sporting events as a real market, the global numbers of the industry will continue to see increased revenue numbers.

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