Written by:
Alex Windsor
Fact checked by:
Oliver Dickinson
Updated:
July 17, 2024

Sports Betting Statistics and Trends

Sports betting has become a pastime for individuals around the world. In 2023, the sports betting market amassed a whopping $242 billion, with almost 25,000 businesses and 200,000 employees!

This is only the tip of the iceberg, as our research also brought the following sports betting trends and statistics to light:

We can expect the demand for sports betting to grow as more states legalize it and open their markets to top sportsbook operators. Keep reading as we cover these further here.

We’ll also briefly examine the importance of staying abreast of these sports betting statistics and a few trends to watch out for. Whether you are an avid bettor or an organization looking to delve into the sports betting sector, you’ll learn something here.

Global Sports Betting Statistics

Global Sports Betting Market valued at $242 billion in 2023

(Statista)

The sports betting market is massive, with companies looking for a share. In 2023, the global sports betting sector attained a market value of $242 billion, comprising 200,000 employees and almost 25,000 businesses. This figure increased from the 2022 figure, valued at over $235 billion.

While the United States only became part of this market recently, forecasts show that it will grow to $10 billion by 2028 – which is impressive.

Sports Betting Statistics and Trends

Australia to draw in the highest online sports betting revenue in 2024

(Statista)

Australia has one of the most impressive markets in the online betting sector and has been experiencing impressive growth to date. According to the results posted on Statista, projections show that Australia’s online sports betting market will attain a revenue of $9.76 billion in 2024.

Moreover, projections show that the market will continue to grow at a 5.13% rate, leading to a market value of $11.92 billion in 2024. There are also expectations that the number of users will have increased to 9.3 million within this period.

Canada is expected to have the highest user penetration rate of 61% in online sports betting by 2028

(Statista)

User penetration indicates the number of users that are utilizing a product. It is very crucial for measuring how successful a product or service is among consumers. It has been projected that Canada will have the highest user penetration rate in the online sports betting market. It is expected to achieve 48.9% by 2024, which will rise to 61% by 2028.

The figures are impressive, considering Australia, which is forecasted to earn the highest sports revenue in 2023, only has projections to increase to 33.6% by 2028. In contrast, the United States, another key market, is only expected to reach a user penetration of 15% by 2028.

We can attribute this growth to the rise of legal online betting, making it easier for the Canadian population to engage in online sports betting.

Global eSports Market to draw in $4.3 billion in revenue by 2024

(Statista)

The eSports market is one that is consistently growing in popularity. It is expected that the market will experience an annual growth rate of 7.10%, resulting in a $5.7 billion market value by 2028. Regarding user base, it is anticipated that by 2028, there will be up to 856.5 million users worldwide.

Sports Betting Statistics in the United States

As earlier mentioned, the United States is a key market in legal sports betting. Research from Statista shows 122 million sports lovers aged 35 or older in the United States. With these impressive numbers, it is no surprise that sports betting is thriving in this region too. Keep reading as we uncover some key sports betting statistics in the US.

25.4% of bettors in the United States prefer placing wagers in person

(Statista)

Results from a study in July 2023 show that 25.4% of the participants prefer placing bets in person. However, most respondents preferred placing sports bets online or through mobile devices, and this percentage is likely to grow as Americans learn more about online betting.

Number of Online Sports Bettors in the United States is expected to rise to 36.5 million by 2025

(Statista)

The United States only legalized online sports betting in 2018. By 2022, there were around 25.02 million bettors in the United States. While many states have legalized sports betting, the rules still vary depending on the state.

According to forecasts, there will be up to 36.9 million bettors by 2025. Changes in gambling laws and regulations in different states over the coming years will be key drivers of this figure.

More than 20 percent of bettors in the US spend less than $50 on betting every month

(Statista)

Sports betting makes millions of dollars in revenue yearly, which is not a surprise. Results from a survey in July 2023 aimed at determining how much sports bettors in the US spend on sports betting monthly show that 20% of the respondents spent less than $50 on average. Another 2% said they spend $5,000 and above wagering on their favorite teams!

Most Sports Bettors Prefer to Wager on DraftKings

(Statista)

After legalizing sports betting in the US, many platforms have broken into the market to allow players to wager on their favorite teams for real money. Top options include recognized names like FanDuel, DraftKings, Caesars Sportsbook, BetMGM, and more.

However, based on a survey carried out in July 2023, 56.5% of the respondents stated that they preferred wagering on the DraftKings website/app. Surprisingly, FOX Bet was the next preferred option among bettors, with 50.1% of the respondents claiming it was their preferred betting site.

The majority of the bettors in the Sports Betting Industry are Male

(Statista)

Both men and women frequently engage in sports betting events in the US. However, results from a 2023 survey show that men are more likely to wager on sports sites than females. 48% of the male respondents admitted to wagering on sports at some time, while only 33% were female respondents.

Man And Women Engaging In Sports

More Sports Bettors in the US Preferred to Bet on Basketball in 2023

(Statista)

While there are plenty of sports to wager on online, many bettors prefer to make money betting on Basketball. Results from a survey in July 2023 show that 52.7% percent of the respondents preferred to wager on Basketball. In contrast, only 8.2% of the respondents preferred to wager on Mixed Martial Arts.

Sports Betting Trends

Innovations are constantly influencing the sports betting sector. Many of these have a positive effect and tend to affect various areas in the betting industry, including revenue and accessibility. Here are some of the most common trends we have observed so far, alongside a few to watch out for in the future.

Increase in Revenue

(Statista)

With more bettors embracing sports betting online and in-person, it will also lead to a massive increase in revenue. According to Statista, by 2024, the online sports market is expected to raise $49.96 billion. This progression shows a 7.68% annual growth, which is expected to climb to $67.17 billion in 2028. Bettors are also becoming more savvy and look to operators offering a welcome bonus, which will impact operators’ bottom line.

The Convenience of Mobile Betting is a Key Driver for Sports Betting Growth

(Statista)

The availability of mobile sports betting apps and online sportsbooks has massively influenced the growth of sports betting worldwide. With increased accessibility and convenience, bettors can seamlessly wager on their favorite teams from anywhere in the world. In fact, a recent survey conducted in the USA showed that 77.5% of US bettors preferred betting on mobile devices due to the convenience it offers.

Sports Betting Legality

(Forbes)

The US sports betting industry has experienced tremendous growth since the Supreme Court ruling in 2018. Now, bettors can wager on their favorite teams in 38 states, with 29 allowing online sports betting. As more states are looking to embrace online platforms for sports betting, there’ll most likely be an increase in bettors and revenue generated in the United States.

New Ways to Wager

Bettors always search for the best new app or site to wager on that offers them more betting opportunities. Many sportsbooks have started to notice it, so they continuously provide new betting options. Now, players can access betting opportunities like same-game parlays and prop bets directly from their mobile devices. Live betting opportunities are another innovation, with many sportsbooks offering real-time data feeds allowing bettors to place wagers during a game.

The Introduction of AI is a game-changer

AI has experienced tremendous growth and has begun to have applications in the sports betting sector. Many bettors can use these AI tools to make more calculated bets since they can analyze player performance, historical data, and other important information required for more accurate wagers. In contrast, sportsbooks can use AI to analyze the same data and better predict and set lines. This trend will only increase, and AI will play a vital role in the overall success of sports betting in the coming years.

Virtual Reality and Enhanced Immersion for Bettors

The integration of virtual reality is another exciting trend in the sports betting industry. VR has the capacity to improve the betting experience for players by providing more immersion. Bettors can feel like they are witnessing the event in real-time right from the comfort of their homes! VR technology can potentially lead to an increase in bettors, which means more revenue for the sports betting sector.

How Sports Betting Statistics Can Help You

Sports betting statistics are vital for operators and bettors. Unlike casino games with rules you can easily learn before you play, sports betting differs. To be a successful bettor, you’ll need to properly analyze statistics and understand them to gain insights that could affect the outcome of a game.

Sports betting stats are also useful to operators who want to stay ahead of the competition. By properly evaluating the right sports betting statistics, they can determine lines and ensure players have a solid experience.

Regardless of whether you are using statistics like player injury, team statistics, injury rates, and most popular sports, it is important to use all the information you can get your hands on to make the appropriate predictions.

Read on as we delve into these below:

Overall, sports betting statistics will give you the information you need to make better decisions. Using this information properly can boost your winning chances when betting on your favorite team.

Sports Betting Statistics by Category

As you can see, sports betting statistics are extremely important for individuals and companies that want to delve into the sports betting sector. Our experts understand this, so we have compiled numerous sports betting statistics across various categories. Click on any of the links below to gain insights into well-researched and accurate information that can elevate your betting experience.

We recommend that you bookmark this page, as our experts update these statistics as they change. Accuracy is key when it involves betting statistics, so we strive to keep you up to speed.

Sources

  1. Forbes
  2. Statista
  3. Statista
  4. Statista
  5. Statista
  6. Statista
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  10. Statista
  11. Statista
  12. Statista
  13. Statista
AUTHOR
Alex Windsor

Alex is the Head of Content here at Minimum Deposit Betting Sites, leveraging his immense experience in the sports betting and iGaming industry to steer the boat and make sure all of our content is up to par and of the best possible quality.