As per the current market research conducted by the CMI Team, the Europe Online Sports Betting Market size is expected to record a CAGR of 12.3% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 19.55 Billion. By 2032, the valuation is anticipated to reach USD 55.50 Billion.

Europe Online Sports Betting Market: Growth Factors and Dynamics

  • Regulatory Expansion: The continuous expansion of regulated online sports betting markets across Europe is a significant growth factor. As more countries legalize and regulate online sports betting, it opens up new opportunities for operators, attracting a larger customer base and fostering market growth.
  • Technological Advancements: Advances in technology, including mobile apps, live streaming, and in-play betting features, drive the growth of the online sports betting market in Europe. User-friendly interfaces and seamless mobile experiences contribute to the popularity and accessibility of online platforms.
  • Strategic Partnerships: Partnerships between online sports betting operators and sports teams, leagues, or media entities play a crucial role. Collaborations enhance brand visibility, provide exclusive content, and contribute to a competitive edge, creating growth opportunities in the European market.
  • Cultural Shifts and Changing Consumer Behavior: Shifting cultural attitudes towards online betting, coupled with changing consumer behavior, contribute to market dynamics. The acceptance of online sports betting as a form of entertainment and the convenience of accessing betting platforms drive increased participation.
  • Innovative Betting Options: The introduction of innovative betting options, such as virtual sports, esports, and novel in-play features, attracts a diverse audience. European online sports betting operators continually explore new avenues to enhance the betting experience and stay competitive in the dynamic market.
  • Market Consolidation and M&A Activities: Market consolidation through mergers and acquisitions, as well as strategic partnerships, is a notable dynamic. Larger companies acquiring or merging with others strengthen their positions, allowing for increased resources, expanded market reach, and a more comprehensive offering to consumers in the European online sports betting sector.
  • Increased Marketing and Promotions: Aggressive marketing strategies and promotions by online sports betting operators contribute significantly to market growth. Intense competition prompts operators to offer attractive bonuses, free bets, and promotional campaigns to attract and retain customers. These marketing efforts enhance brand visibility, create customer loyalty, and drive engagement in the highly competitive European online sports betting landscape.

Europe Online Sports Betting Market: Partnership and Acquisitions

  • In 2023, STS formed a partnership with GKS Katowice, which includes the display of the STS logo on various platforms, including LED banners, walls at the Bukowa Stadium, and across GKS’s social media and newsletters. The STS logo will also prominently feature on women’s football jerseys during autumn and on the sleeves of ice hockey players in spring, extending to men’s volleyball and football throughout the season.
  • In 2022, PointsBet, a prominent live betting sportsbook, has partnered with IMG ARENA for a two-year streaming collaboration. This venture enables PointsBet to provide bettors with on-demand streaming access to over 40,000 premium games and matches. IMG ARENA, known for its sports data and technology services, enhances the sports, sports betting, and sports media ecosystems through this strategic partnership.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 19.55 Billion
Projected Market Size in 2032 USD 55.50 Billion
Market Size in 2022 USD 17.90 Billion
CAGR Growth Rate 12.3% CAGR
Base Year 2022
Forecast Period 2023-2032
Key Segment By Type, Sports Type, Leagues and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope Europe
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Europe Online Sports Betting Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the Europe Online Sports Betting Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

  • Sports Event Cancellations and Postponements: The pandemic led to widespread cancellations and postponements of sports events across Europe. With a significant reduction in live sports, the online sports betting market experienced a decline in available betting opportunities, impacting user engagement and revenue.
  • Sports Calendar Disruptions: The pandemic caused disruptions to the traditional sports calendar, leading to irregular schedules and changes in event formats. This uncertainty and lack of a predictable sports calendar affected the ability of online sports betting platforms to plan and offer a consistent array of betting opportunities, impacting user confidence and engagement.
  • Return of Live Sports Events: The gradual resumption of live sports events played a pivotal role in the market’s recovery. As sports leagues and tournaments resumed with safety measures, online sports betting platforms regained a broader range of betting options, attracting users back to the platforms.
  • Innovative Betting Features: Operators introduced innovative features and betting options to retain and attract users during the pandemic. The emphasis on live betting, virtual sports, and creative promotions enhanced the overall betting experience, stimulating user interest and participation as the market recovered.
  • Strategic Marketing and Promotions: To reignite user activity, online sports betting operators implemented strategic marketing campaigns and promotions. Special bonuses, enhanced odds, and loyalty programs were used to incentivize users, contributing to the recovery of the market.
  • Technological Enhancements and Mobile Accessibility: Operators focused on improving technological infrastructure and enhancing mobile accessibility. The emphasis on user-friendly mobile apps and responsive websites allowed for increased engagement, as consumers sought convenient ways to participate in online sports betting post-COVID-19 restrictions.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Europe Online Sports Betting Market, with some challenges and opportunities arising from the pandemic.

Europe Online Sports Betting Market 2023–2032 (By Billion)

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List of the prominent players in the Europe Online Sports Betting Market:

  • Bet365 Group Limited
  • Flutter Entertainment plc
  • GVC Holdings PLC
  • Entain plc
  • Kindred Group plc (Unibet)
  • 888 Holdings plc
  • William Hill plc
  • Betsson AB
  • LeoVegas AB
  • Betway Limited
  • Sisal Group
  • Betfair International
  • STS Gaming Group
  • Betfred
  • Napoleon Sports & Casino
  • Others

The Europe Online Sports Betting Market is segmented as follows:

By Type

  • Line-In-Play
  • Fixed Old Betting
  • Daily Fantasy Sports
  • E-Sports
  • Sports Exchange
  • Spread Betting
  • Others

By Sports Type

  • Football
  • Cricket
  • Tennis
  • Baseball
  • Volleyball
  • Basketball
  • Hockey
  • Horse Riding
  • Boxing
  • Golf
  • Racing
  • Others

By Leagues

  • Cricket
  • MLB
  • NBA
  • NFL
  • NHL
  • LOL

Regional Coverage:

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe