online sports betting industry yearly revenue

Nevertheless, the number of gamblers continues rising. More Than 80 Million People Started Gambling Online Since 2019Īlthough online gambling brings billions of dollars in revenue each year, it also causes enormous costs to society, due to the harm it causes to employment, education and people’s finances. Online casinos have seen a massive 110% growth in this period, with revenue rising from $16.6bn in 2019 to $34.8bn in 2023. Statistics also show online sports betting is the largest revenue stream in the market, expected to bring $43.5bn in revenue in 2023, or 120% more than four years ago. Australia, Japan, and Germany follow, with $9.1bn, $5.5bn, and $5.1bn in revenue in 2023, respectively. As the second-largest globally, UK’s market is forecast to hit $12.8bn in revenue or 62% more than four years ago. The US online gambling industry is expected to gross $19.1bn in 2023, a massive 267% increase from $5.2bn reported in 2019. Over one-third of total revenue comes from the United States and the United Kingdom, the top two markets. Statista expects the entire market to continue seeing double-digit revenue growth in the following years and hit a $117.6bn value by 2025. Statistics show global online gambling revenue has grown by an average of 20% in the past four years before reaching $95bn in 2023. A year later, this figure jumped to $55.1bn and continued rising.

In 2019, the entire industry grossed $45.7bn worldwide, according to a Statista survey. The entire industry has snowballed because online gambling is accessible, easy to start and offers a much wider range of games and betting options than most brick-and-mortar casinos. Online casinos and sports betting sites, virtually non-existent two decades ago, today bring billions of dollars in revenue each year. Revenue Grows By An Average Of 20% YoY The United States And The United Kingdom Are The Top Two Markets Despite the shocking cost gambling addiction has on governments and society, the entire market has multiplied over the past years.Īccording to data presented by, the online gambling industry has more than doubled in the past four years, reaching 176 million users and over $95bn in revenue in 2023.

Online sports betting industry yearly revenue