Future of Global Sports Betting Market – History & Present Scenario

The growing popularity of sports betting is opening doors for operators. Read here the history, present and future of the global sports betting industry.

Be it Europe, North America or Asia-Pacific, sports betting has evolved significantly in these regions. Today, sports betting is not just limited to a particular region but became a Global phenomenon.

What was once confined to land-based sports betting has evolved into a dynamic digital platform.

All because of digitization.

Therefore, things have changed drastically.

Today, online sports betting is more about delivering immersive experiences, boosting player retention, and building a scalable, profitable business.

In this blog, we’ll walk you through how the online sports betting industry has evolved — exploring its origins, current landscape, and where it’s headed next.

History of Sports Betting Market

Sports betting has been historically linked to various civilizations and their respective cultures, so much that we cannot even put our finger on one stream of civilization from where it started.

However, for some people, the origin stems from ancient China. Currently sports book options for them are synonymous with Lottery which is not even considered as gambling in China.

The fact is that sports betting dates back thousands of years. It was ancient Greeks who would bet on Olympic Games and ancient Egyptians bet on dice, board games, etc.

In Western civilization, particularly in the US, it started with people betting on horse races. The decade of 1920 experienced the emergence of major spectator sports like football, basketball, etc. This led to the launch of sports betting on such spectator sports.

Throughout the 1940s and 1950s, America witnessed a gradual growth in legal sports betting.

Las Vegas and Nevada offered such betting for boxing and horse racing. From the 1970s the industry experienced booming growth and to curb the surge, certain governments have either imposed restrictions or made betting illegal.

The advent of the internet has revolutionized the global sports betting market since the 90s. The offline bookmakers were gradually replaced by online betting websites.

Gradually, mobile betting apps crept into the market and nowadays one can easily harness the power of AI to predict outcomes based on track records where the future of sports betting lies.

Bookmaking in the 18th and 19th Century

No sporting events are complete without bookmaking (practice of determining odds). Therefore, it’s important to know the history of it.

It goes back to the 1790s, when horse racing was the most popular sport to bet on in Britain (The UK).

You can say that the UK is the birthplace of modern bookmaking.

Organized bookmaking started taking place with odds and markets set by professionals’ bookmakers.

Early 20th Century 

The early 20th century began to witness ‘expansion and legalization’ of sports betting. It is because countries like the UK started regulating betting shops.

The US was also not behind. Here also, sports betting grew in popularity, particularly baseball and horse racing.

However, this time, sports betting was heavily restricted and illegal bookmaking.

Illegal betting led to growing crimes and addiction, due to which many countries (China, UAE, Cambodia, etc.) prohibited online sports betting.

Late 20th Century

By the time of the late 20th century, sports betting had become legal and regulated in a few countries like the UK.

The UK Gambling Act 1960 legalized betting platforms whereas the government in Asian Countries like Hong Kong and Singapore also started regulating sports betting.

Present Scenario of Online Sports Betting

Sports betting has been prevalent for over two centuries. But what exists today was missing previously – online sports betting.

The arrival of online sports books largely revolutionized the industry. Players can now place bets from anywhere in the world.

Top brands like Bet365, William Hill, and many others emerged as global players.

However, the present online sports betting market is also dependent upon several factors like updated rules and regulations, dynamic digitization, licensing, etc.

Current Sports Betting Scene in the U.S.

The online sports betting market is growing in the U.S. tremendously, and the growth is unstoppable.

A total of 31 states has legalized online sports betting today including Ohio, NYC, Kentucky, Massachusetts, North Caroline, etc. However, rules and regulations vary from state to state.

This revolution started from the time the Supreme Court denounced the Professional and Amateur Sports Protection Act (PASPA) back in 2018.

The sports betting market growth in the US made a positive impact on the economy with a record of $11 billion in revenue in 2023.

Current Sports Betting Scene in the UK

According to the UKGC, the sports betting business was the second highest revenue generator after online casinos.

The market is tightly regulated by the UKGC under the Gambling Act 2005. The act enforces major standards around online betting, anti-money laundering, player protection and advertising.

The UK sports betting industry earned a revenue of $4.56 billion in 2024, with steady growth projected to reach $5.49 billion by 2028, as per Statista.

The Foreseeable Future of Sports Betting

It’s quite visible that digitization is governing the present. Artificial Intelligence (AI), big data, and other advanced technologies will determine what the scope of sports betting industry looks like.

The sports betting software harnesses the same power to reach more players and skyrocket their revenue. On taking a closer look, the progression becomes more clearly visible.

Food For Thought The global sports betting market size was estimated at USD 100.9 billion in 2024 and is expected to grow at a CAGR of 11% from 2025 to 2030, as per the Grand View Research Report.

The sports industry is a remunerative source for business owners to invest and double their money.

They not only have access to a hefty sum but also to big data. This is the reason why the wealthiest countries have the biggest revenue generators in the sports betting field.

Regions like Africa, Latin America, Philippines, and Australia are also emerging markets for the sports betting business.

To keep up with the sports betting market dynamics, a few new sections are introduced into the world of betting. This includes:

•  eSports betting: eSports is the result of the sudden closing down of online bookies and casino websites.
• Competitive gaming: This is another segment of eSports where people compete against each other to bag a huge sum of money.
• Lottery games: This one does not require prediction skills as it completely depends upon luck. Also, it is appropriate for amateurs because it does not require any pre-existing knowledge or understanding of the game.
• P2P betting: The traditional form of betting will soon be replaced by P2P betting. This is because bookies have an affinity towards stacking odds.

The Crypto Betting Segment

The sports betting market opportunities are wide; the rapidly growing popularity of cryptocurrencies since its start in 2009 reached its peak in 2025.

Despite the risks associated with its volatility, 50% of all Bitcoin transactions are somehow related to the iGaming or betting industry.

By the end of 2020, Bitcoin prices touched their all-time highs. Due to several factors like anonymous transactions, global acceptance, transaction speed and ease plus associated bonuses. Therefore, a huge part of the enthusiastic betting population shifted to Crypto betting.

The sports betting market development thrives solely on dynamicity and bridging the tiny gaps to introduce absolutely new concepts.

Crypto betting is a door that will eventually open different paths to incorporate more futuristic payment technologies.

Final Wordings

The world is getting more open to possibilities. We can see more countries coming forward, lifting bans on sports betting in the near future.

We can expect more technological advancement and incorporation of virtual reality, which can also enhance the overall experience.

It is expected from live betting and streaming events to gain more popularity with time. Be it the stats or the possibilities, the future of sports betting looks beyond promising in spite of the adversities that might arise.

FAQs

• Which regions offer high potential growth for operators in 2025?

  Europe is considered a mature market for sports betting operators while Latin America, Africa, Philippines, etc., are emerging as high-growth markets. These markets offer favorable demographics, and the evolving regulatory landscape offers ripe opportunities for sportsbook expansion.

• What technologies are shaping sports betting operators?

  Technologies such as real-time data feed, machine learning algorithms, gamified experience, and mobile UX optimization are gaining a lot of traction in player retention and operational efficiency.

• How do regulations affect the scalability of global sports betting platforms?

  Operators seeking global scalability of their platforms should be compliant with complex and dynamic regulations. Though Malta and Curacao offer streamlined licenses, others like the U.S. operate on a state-by-state model.

• How can operators stay competitive in saturated markets like the U.K and Europe?

  In saturated global sports betting markets, innovation and personalization are key. Operators need to invest in AI-driven promotions, loyalty programs, live-streaming, in-play betting features, localized markets, robust UX, and faster payouts for the players.