The U.S. sports betting market size was estimated at USD 13.76 billion in 2023 and is expected to expand at a CAGR of 10.5% from 2024 to 2030. The major shift in the regulatory landscape of the gambling sector, coupled with the developing digital infrastructure, is expected to impact the market positively. Online sports betting gained popularity during the COVID-19 pandemic due to an upsurge in e-sports and similar forms of betting. Moreover, the increasing usage of smartphones has also led to the wide availability and accessibility of sports betting, consequently propelling the global market growth.

In 2023, the U.S. accounted for over 15% of the sports betting market. The growing trends of digitalization, technological advancements, and the growing number of smartphone users have enabled sports betting operators to simplify their platforms and provide an enjoyable betting experience to users. Moreover, the relaxation in regulatory frameworks to regulate betting and gambling activities is also expected to offer lucrative opportunities for the industry. For instance, according to the U.S. Gaming Association, as of January 2023, sports betting is legal in 36 states. In 2021, it was legal in 32 states only.

The increase in the number of sports events and leagues, such as the NFL, FIFA World Cup, Carabao Cup, etc., has positively influenced the growth of the market. Furthermore, an increase in disposable income of people is also providing opportunity to the market. The rising usage of AI and blockchain technologies to improve the prediction algorithms in betting software is likely to boost the growth of the market during the forecast period.

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Key U.S. Sports Betting Company Insights

Some of the leading companies in the market include 888 Holdings Plc, Bet365, Betsson AB, and Churchill Downs Incorporated.

• 888 Holdings is a global sports betting and gambling company that owns brands such as 888casino, 888poker, 888sport, Mr Green, and William Hill. In 2018, the company expanded its U.S. online poker business by becoming the sole owner of the All American Poker Network.

• Churchill Downs Incorporated is a multi-American-state-wide company. It is a publicly traded company with racetracks, casinos and an online wagering company among its portfolio of businesses.

IGT, Kindred Group Plc, Sportech Plc, and William Hill Plc are other companies in the U.S. sports betting market.

• Kindred Group is an online betting operator which consists of brands, such as Unibet, Maria Casino and 32Red. The company offers products such as online casino, online poker, online bingo, and sports betting. The company has major offices in Gibraltar, London, and Stockholm, apart from the U.S.

Key U.S. Sports Betting Companies:

• 888 Holdings Plc

• Bet365

• Betsson AB

• Churchill Downs Incorporated

• DraftKings

• Entain plc

• FanDuel Group

• Flutter Entertainment Plc

• IGT

• Kindred Group Plc

• Sportech Plc

Recent Developments

• In July 2022, 888 Holdings acquired William Hill, creating a global betting and gaming leader by bringing together two highly complementary businesses and combining two of the industry’s leading brands.

• In August 2021, Entain announced to acquire US-based esports betting company Unikrn. The company plans to acquire Unikrn’s technology platform, products and team, citing a lack of existing scale among skill-based wagering platforms.

U.S. Sports Betting Market Report Segmentation

Grand View Research has segmented the U.S. sports betting market report based on platform, betting type, and sports type:

Platform Outlook (Revenue, USD Billion, 2018 - 2030)

• Offline

• Online

Betting Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Fixed Odds Wagering

• Exchange Betting

• Live/In Play Betting

• eSports Betting

• Others

Sports Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Football

• Basketball

• Baseball

• Horse Racing

• Cricket

• Hockey

• Others

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