North America Online Sports Betting Market Size

In recent years, the online sports betting market has experienced significant growth, with North America emerging as the fastest-growing region for online gambling globally. Within this region, the United States, Canada, and Mexico are the primary contributors to the online sports betting market. The increasing legalization of sports betting across various jurisdictions has driven this growth, leading to a rapid market expansion and attracting a larger consumer base. In the U.S., the development of online sports betting and iGaming has been propelled by technological advancements, strategic partnerships, and a consumer shift toward mobile platforms.

The ongoing trend of legalizing and regulating online sports betting across various states and provinces is a significant driver, opening new markets and opportunities for operators, and thereby fostering the expansion of the North American sports betting market. This growth in North America's online sports betting market reflects the increasing popularity and acceptance of online gambling, making it a lucrative sector for stakeholders and operators alike. As more jurisdictions adopt this trend, the online sports betting market is set to continue its upward trajectory, driven by U.S. online sports betting and iGaming initiatives and the broader expansion of the North American sports betting market.

The rising popularity of the live betting market offers operators opportunities to diversify their offerings, as real-time wagering during live sports events enhances user engagement and provides a dynamic and interactive online sports betting experience, appealing to a broader audience.

In the United States, most legal betting states set the minimum age for sports betting at 21, although some jurisdictions allow individuals aged 18 and above. In addition to sports betting, a handful of states have legalized online casino gambling. For the online sports betting market, patrons must be physically present within the state or jurisdiction to place bets on state-sanctioned platforms, although residency is not required. This regulatory landscape contributes to the growth of the North American sports betting and gambling market. By leveraging the expanding live betting market and offering a comprehensive online sports betting experience, operators are well-positioned to capitalize on the rapid growth within the North American online sports betting market.

The most popular sports for wagering in the North American online sports betting market include association football, American football, basketball, baseball, hockey, tennis, and golf. Overall, the North American online sports betting market demonstrates dynamic growth, driven by technological advancements, rapid legalization of sports betting, and a continuing shift in consumer preferences. Companies that embrace innovation, cater to the preferences of younger consumers, and forge strategic partnerships are poised to capitalize on emerging online sports betting opportunities and thrive within this evolving market landscape.

United States Sports Betting Revenue
Significant states in the United States sports betting market include New York, Illinois, New Jersey, Ohio, Massachusetts, Pennsylvania, Virginia, Maryland, and Indiana. In January 2024, the U.S. iGaming sector set a record for single-month revenue. Combined operations in Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, and West Virginia generated USD 648.0 million, a 30.9% increase compared to the previous year. This impressive growth highlights the expanding opportunities within the North American online sports betting market.

The U.S. iGaming sector has become a key component of the U.S. online sports betting market revenue, demonstrating the significant potential for continued growth. As the United States sports betting market evolves, stakeholders can expect further increases in online sports betting market revenue driven by technological advancements and regulatory changes. The North American online sports betting market thrives, underscoring the importance of strategic investments and partnerships to capitalize on this dynamic landscape.

United States Sports Betting App Market Share
As of 2022, the primary contenders in the United States sports betting app market are FanDuel, DraftKings, BetMGM, and Caesars. Together, they account for approximately 80% of the market share, highlighting their significant influence and competitive edge. This trend is also reflected in the North American online sports betting market, where these companies play pivotal roles. The success of FanDuel, DraftKings, BetMGM, and Caesars underscores the importance of strategic positioning and user engagement in maintaining their dominance. As the North American online sports betting market continues to grow, the substantial market share held by these companies is likely to persist, driven by their innovative approaches and comprehensive offerings.

Canada Betting Market Revenue Share
In Ontario, Canada, sports betting—which includes sports, esports, proposition, novelty bets, and exchange betting—accounted for nearly 18% of total wagers revenue in Q3 of FY 2023. In 2022, Ontario transitioned from a monopoly to an open gaming market, allowing more online gaming operators to enter. As a result, the Ontario betting market has become the largest in Canada, with projections indicating it will achieve over a 90% onshore sports betting channelization rate by 2024.

Ontario's transition has significantly influenced the Canada betting market revenue share, making the Ontario betting market a key player. This shift has enabled online gaming operators to thrive, contributing to Canada's largest online sports betting market. As the Ontario betting market continues to grow, its impact on the Canada betting market revenue share is expected to be substantial, solidifying its position as the largest online sports betting market in the country.

North American Online Sports Betting Market Trends

• The surge in online betting activity is driven by the widespread adoption of the internet and devices like smartphones and tablets. These technologies enable gamblers to participate in live betting, allowing for swift decisions that can result in substantial profits when strategically placed.

• Varied rules and regulations across different countries are fostering greater confidence among individuals entering the online betting market, ensuring safer practices.

• The rapid legalization of online sports betting and gambling in numerous states and countries is also bolstering the market.

• Shifting consumer preferences toward online platforms and mobile betting serve as significant drivers. The convenience and accessibility of the online sports betting sector cater to evolving lifestyles, particularly among a younger, tech-savvy demographic, leading to increased market participation.

Scope of North America Online Sports Betting Market
Makreo Research has recently published an in-depth analysis titled "North America Online Sports Betting Market Report," offering a thorough examination of the continent's online sports betting industry. The report explores the current and historical performance of the market, analyzing the legal status of online sports betting in major countries such as the United States, Canada, and Mexico.

It delves into the regulatory landscapes of these nations also providing insights into state-level regulations within the United States. Additionally, the report briefly covers key sports preferences for betting, demographic trends, and noteworthy facts related to the market. This comprehensive analysis equips stakeholders and industry experts with a profound understanding of the evolving dynamics within this rapidly expanding sector.

The report delves into the North American Online Sports Betting Market, analyzing key parameters such as market revenue, performance at both national and state levels of major countries, and the legal and regulatory landscape governing the industry. Furthermore, it provides insights into popular sports and noteworthy facts shaping the market dynamics.

1. How has the North American online sports betting market performed historically, and what is the current scenario?

2. Which countries emerge as dominant players in the North American Online Sports Betting Market?

3. What is the legal status and regulatory landscape surrounding sports betting in these markets?

4. Which sports are most favored for betting in the region?

5. What is the performance of the United States market for online sports betting?

6. Which states within the United States are key performers, and what are their legal frameworks?

7. Who are the key players in the sports betting app market in the United States?

8. How is the performance of the online sports betting market in Canada?

9. What is the current situation of the Mexican online sports betting market?