- Mobile sports betting is a global sensation, with Europe taking the bulk of the business.
- The U.S. has not skyrocketed off the charts yet in this area but that’s expected to change by 2024.
- As more states make sports betting legal, more people will have access to U.S. mobile platforms to wager on sporting events.
NEW YORK – U.S. mobile sports betting growth when compared to other countries is not as large. Europe is one of the top earners on a global level for mobile sports wagers. It nets an average of $7.1 billion in revenue from the market each year. This high number can be attributed to the internet/mobile-centered sports betting platforms.
Other Countries Vs. The U.S. For Mobile Sports Betting
After the UK purchased online bookmaker Sky Bet in 2018, they noted that more than 90% of their business was done with the use of mobile devices. When it comes to overall usage, Europe has had a much longer time to create and offer internet and mobile sports betting to its customers. Therefore, it makes sense that they have more business.
The U.S. market for legal mobile sports wagers has only just begun when compared to other countries. In essence, American mobile sports betting applications are trying to catch up with others around the world. It is not surprising they have a smaller amount of growth as they’re just starting out.
For 2019, 55% of global mobile gross win wagers came from Europe. Asia and the Middle East came in second with 30% while North America has 7% of the market. Oceania makes up 6% and Latin America and Africa have 1% of growth.
China and the Middle East not only have many sports bettors living within their countries, but they also use the internet through mobile devices much more than that of any other connection because phones are faster in these areas of the world. That could be a factor in the number of people participating in mobile wagers. Offshore sports betting apps are also a reason why other countries do well in this area because they have many customers from the U.S. However, this could change as more states make sports betting a legal pastime.
Latin America and Africa, while on the lower end, still have many participants for mobile sports betting. Like that of China and the Middle East, mobile internet connections are easier to come by than other sources. This makes mobile sports betting that much more appealing. Plus, in poorer countries where work is hard to come by, wagering on sporting events seems like an easy way to make a buck. In Nigeria, $5 million is spent on mobile sports betting daily. All of these could be potential reasons as to why mobile sports betting is taking off in countries around the world.
Projections For Sports Betting By 2024
By 2024 the U.S. is expected to be a leader in sports betting revenue with an estimated $5.7 billion. China tops the list with $6.4 billion projections and the UK is set at $2.4 billion. The reason for the jump in U.S. revenue is due to the expected legalization of the activity between more states by 2024. As the nation begins to legalize the activity more, more revenue streams will be available. There is also the thought that offshore sportsbooks may see a decline in their U.S. memberships once Americans have more mobile apps based in their states to choose from.
China remains on top due to the sheer amount of people living in the country. They have over 1.3 billion people that make up their population. A far cry from the 327 million people living in the United States. As more states legalize sports betting, the U.S. will certainly see higher numbers like those of the chart projections.
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.