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Top 3 Countries in the Sports Betting from Europe Region by Market Size (2021, $ Billion)

Industry: Casinos And Gambling
Current: Market Sizing & Shares

The market size of the Sports Betting sector in the Europe region reached a value of $23 billion in 2021
The UK Sports Betting market has a value of $5.3 billion in 2021 and contributes 23% to the region’s market value
The major companies that have a strong presence in the Europe sports betting market includes GT Bets Casino, Bovada Casino, and Cherry Jackpot

Top 3 Countries in the Sports Betting from Europe Region by Market Size : Industry Overview

Predicting sports results and making a bet on the outcome is known as sports betting. The frequency of sports wagering varies by culture, with most wagers being put on amateur and professional levels of association football, American football, basketball, baseball, hockey, track cycling, car racing, mixed martial arts, and boxing.

The market size of the Sports Betting sector in the Europe region reached a value of $23 billion in 2021. Key markets for Sports Betting in the Europe region includes countries like the UK, France and Italy. As many of the countries globally have made betting legal in their respective region which has paved way for the growth of the sector.

The UK Sports Betting market has a value of $5.3 billion in 2021 and contributes 23% to the region’s market value. This is followed by France and Italy which contributes 20% and 10% respectively to the region’s market value.

The Sports Betting market in the Europe’s region saw marginal de-growth of 1% in 2021 as the sector witnessed a recovery in demand after easing the restrictions which were placed on account of the pandemic COVID-19.

Earlier in the year 2020, The COVID-19 outbreak impacted the sector greatly. Sports Betting were forced to shut their business for most of the year due to the ongoing coronavirus restrictions and lockdowns which postponed many sports and tournaments globally. During the year 2020, the market value of sports betting in the Europe region saw a de-growth of 10% due to the impact of COVID-19.

Many sports betting games requires people presence and are done in a offline mode in casinos via bookies who takes bet on the behalf of the people betting on the game. Thus, when casinos were open, they needed to adjust their games and follow the government’s coronavirus safety measures, decreasing demand for the sector in general.

The major companies that have a strong presence in the Europe sports betting market includes GT Bets Casino, Bovada Casino, and Cherry Jackpot.

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