The online sports betting market refers to the segment of the online gambling industry that involves placing bets on various sports events over the internet. This includes a wide range of sports, such as football, basketball, baseball, horse racing, tennis, and many others. Online sports betting allows customers to place bets on the outcome of sporting events in real-time, either before or during the event. These bets can be placed through various online platforms, including websites and mobile apps, which are often operated by licensed online sportsbook operators.
Additional Information
Data includes revenue figures in Gross Gambling Revenue (GGR), which is the total amount of bets placed by customers minus the amount paid out in winnings, Users, average revenue per user (ARPU), user penetration rate, and a breakdown of revenue shares of the total betting market. User and revenue figures represent B2C services.
in-scope / out-of-scope
in-scope
- Online sports betting on various sports such as football, basketball, tennis, cricket, golf, etc.
- Esports betting on sports simulation games such as FIFA, NBA 2K, and Madden NFL
- Proposition betting on specific events or outcomes in a sports game
out-of-scope
- Offline or land-based sports betting establishments such as sportsbooks and race tracks
- Betting on non-sporting events such as politics, entertainment, and reality TV shows
- Illegal or unlicensed online sports betting websites or apps.
Market structure
Online Gambling
- Online Sports Betting
- Online Casinos
- Online Lottery
Related markets:
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Methodology
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Region comparison
Analyst Opinion
The Online Sports Betting market in India is experiencing significant growth and development, driven by changing customer preferences and favorable local circumstances.
Customer preferences: Indian consumers are increasingly turning to online sports betting as a convenient and exciting way to engage with their favorite sports. The convenience of placing bets from the comfort of their own homes, coupled with the availability of a wide range of sports and betting options, has made online sports betting a popular choice among Indian bettors. Additionally, the rise of mobile technology and the widespread use of smartphones has further fueled the growth of online sports betting in India, as it allows users to place bets on the go.
Trends in the market: One of the key trends in the Indian online sports betting market is the increasing popularity of cricket betting. Cricket is the most popular sport in India, and the Indian Premier League (IPL) attracts a large number of bettors. The popularity of cricket betting has been further enhanced by the availability of live streaming and in-play betting options, which allow bettors to place bets in real-time while watching the game. Another trend in the market is the growing interest in international sports betting. While cricket remains the dominant sport, there is a growing demand for betting on other sports such as football, tennis, and basketball. This trend can be attributed to the increasing exposure of Indian consumers to international sports through television and online platforms, as well as the success of Indian athletes in these sports.
Local special circumstances: The legal framework surrounding online sports betting in India is complex. While online sports betting is not explicitly regulated, it is not illegal either. The legality of online sports betting in India is determined on a state-by-state basis, with some states allowing it while others prohibit it. This has created a fragmented market, with different operators catering to different states. Another special circumstance in the Indian market is the prevalence of cash-based transactions. While online payment methods are gaining popularity, a significant portion of the Indian population still prefers to use cash for their transactions. This has led to the emergence of cash-based payment options in the online sports betting industry, such as prepaid cards and vouchers, to cater to this segment of the market.
Underlying macroeconomic factors: India’s growing middle class and increasing disposable income are key macroeconomic factors driving the growth of the online sports betting market. As more Indians enter the middle class and experience rising incomes, they have more discretionary income to spend on leisure activities such as sports betting. Additionally, the rapid growth of internet penetration in India has made online sports betting more accessible to a larger segment of the population. In conclusion, the Online Sports Betting market in India is witnessing significant growth and development due to changing customer preferences, favorable local circumstances, and underlying macroeconomic factors. The popularity of cricket betting, the increasing interest in international sports, the complex legal framework, and the prevalence of cash-based transactions are all shaping the market landscape in India. As the Indian economy continues to grow and more Indians gain access to the internet, the online sports betting market is expected to flourish further in the coming years.
Methodology
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Gambling Revenue (GGR) and represent what consumers pay for these products and services.
Modeling approach:
Market size is determined through a Top-Down approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.
Forecasts:
We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.
Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is reweighted for representativeness.
Overview
- Revenue
- Analyst Opinion
- Users
- Global Comparison
- Methodology
- Key Market Indicators
