The legalization of online betting, combined with cutting-edge technology, has opened the floodgates in the sports betting industry, drawing more users and generating more revenue than ever. In 2025 alone, people worldwide are expected to spend over $77 billion on sports bets, double the amount reported just six years ago. While growth has begun to slow, the market continues to expand and is on track to reach a major milestone by 2031. According to data presented by Betideas.com, at this pace of growth, online sports betting is set to become a $100 billion industry by 2031.
U.S. to Generate a Quarter of Global Sports Betting Revenue by 2031
While sports betting growth has slowed since its 2021- 2022 peak, the industry remains strong. Despite market saturation, stricter advertising rules, tighter compliance regulations, and rising competition, several factors continue to fuel this trend, mainly innovations in user experience. Today, millions of sports fans engage with features like in-play betting, AI predictions, and digital sportsbooks, all of which are driving revenue and user growth. In 2025, nearly 200 million people are expected to place sports bets, and spend an average of $350. With tens of millions of new users flocking to the market and spending even more on wagers, the entire industry is on track to hit a major milestone.
According to Statista Market Insights survey, the global sports betting industry is expected to generate $77.1 billion in revenue in 2025, or $7 billion more than last year. Annual spending will continue rising by roughly $5 billion in the next three years and hit over $91 billion by 2028. But the growth won`t stop there. While much slower than in previous years, global spending on wagers will continue rising by an average of $3 billion annually, pushing the market to a projected $101 billion by 2031. To put that in perspective, that’s nearly three times Netflix’s 2024 revenue and four times McDonald’s global revenue.
Statista data show that one quarter of all sports bets in 2031 will come from the United States, the world`s largest sports betting market. Americans are expected to spend a whopping $25 billion on wagers that year, up 35% from 2025, and more than the next four largest markets combined. Australia, the second-largest market, is projected to generate $8.1 billion in sports betting revenue in 2031. The United Kingdom follows with $7.3 billion, while Germany and France are forecast to reach $3.8 billion and $3.2 billion, respectively.
40 Million New Bettors Expected to Flood the Market by 2030
Besides impressive revenue growth and a record valuation of over $100 billion, the sports betting industry will also see a flood of new users in the following years. Since 2020, the global user base has more than doubled, reaching close to 200 million. However, Statista expects roughly 40 million new bettors to enter the market over the next five years, pushing the total user base to over 240 million by 2030. Nearly 80% of all users that year, or around 190 million, will be using online betting platforms. In contrast, offline betting will attract only half as many, with around 84 million users.