However, rise in concerns regarding money laundering and unfavorable tax laws and advertising restrictions in many countries are projected to limit the sports betting market growth during the forecast period. Online and live betting are gaining traction among users as they offer easy access to betting through smartphones and PCs. Growth in online betting and increase in in adoption of betting in various sports are expected to propel the sports betting market size during the forecast period. It is estimated to grow at a CAGR of 9.1% from 2023 to 2031 and reach US$ 664.0 Bn by the end of 2031.The global industry was valued at US$ US$ 302.3 Bn in 2022.Global Sports Betting Market Outlook 2031
