Additionally, companies are expanding their products to bet on the esports category. Many online sports betting companies sponsor different teams as a part of their marketing initiatives and strategic expansions. Online betting is also popular in horse racing and tennis.

Online sports betting is predominantly applied in events such as FIFA World Cup and European Championships owing to their rising popularity.

According to a study by Lund University, Sweden, consumer interest in online betting platforms increased due to the streamlined experience of accessing a complete list of betting markets from their desktop or mobile devices.

The growth of the online sports betting industry is also predicted to be fueled by virtual reality and blockchain technologies.

Moreover, cashless payment methods and female casino patronage are expected to boost the market. Several major sports betting companies are striving to simplify their platforms and provide an enjoyable experience for their customers.

Technological advancements have had a significant impact on the gambling industry.The online sports betting market size is expected to grow from USD 63.70 billion in 2023 to USD 109 billion by 2028, registering a CAGR of 11.34% during the forecast period.

International sports betting market