The removal of legal barriers provided the spark for sports betting's growth across the United States and has fundamentally contributed to the growth of the global sports betting market. Several factors drive this growth, including the increasing popularity of sports worldwide, the legalization of sports betting in several countries, and the rapid ascent of online sports betting. The report estimates that the market will grow at a compound annual growth rate (CAGR) of 10.3% from 2023 to 2030. The global sports betting market size has grown steadily over the years and is expected to rise by approximately US$144 billion by 2027, according to a recent study from TechNavio, a global technology research firm.Īn earlier report by Grand View Research, Inc., pegged the global sports betting market growth to reach US$182.12 billion by 2030.

Tickets/Receipts: The total amount of individual bets placed during a specific period, independent of how much money was wagered overall.

Hold: The percentage of the handle that a sportsbook keeps as revenue.įor example, if a sportsbook has a handle of $1 million and revenue of $100,000 (paying out $900,000 in winnings), the hold would be 10%.

Revenue is calculated by subtracting the amount of payouts from the total handle.

Revenue (gross): The amount of money that a sportsbook earns from its operations - after payouts to winning bettors have been made.

The handle is often used as a measure of the size of the sports betting market.įor example, if a sportsbook accepts $100,000 in wagers on the Super Bowl, the handle for that event is $100,000.

Handle: The total amount of money wagered by bettors at a sportsbook during a given period, including all bets placed, regardless of whether they win or lose.

Sports betting industry analysis