The size of the global online gambling and betting industry amounted to 63.53 billion U.S. dollars in 2022. This has been forecast to rise to 184.28 billion U.S. dollars by 2032, representing an increase of 190 percent within a decade. For comparison, the market size of the global sports betting and lottery industry was valued at roughly 235 billion U.S. dollars in 2022. Overall, the global sports betting industry constituted more than 200 thousand employees and approximately 24 thousand businesses in 2023.
How popular is sports betting in the United States?
In 2022, over 25 million individuals engaged in sports betting in the United States, highlighting the prevalence of the activity in the North American country. Moreover, this figure was forecast to increase by 47 percent by 2025. Overall, the total revenue from sports betting in the U.S. amounted to 7.56 billion U.S. dollars in 2022, denoting an increase of nearly 75 percent over the previous year. Meanwhile, DraftKings was the most popular sports betting website in the U.S. as of July 2023.
What is the United Kingdom’s National Lottery?
A lottery is a form of gambling where participants purchase numbered tickets with the aim of matching those numbers with lots, which are drawn randomly at a later date. Established in 1994, the National Lottery is a nationwide version of the activity that is regulated by the Gambling Commission of the United Kingdom. Between April 2021 and March 2022, over eight billion British pounds worth of National Lottery tickets were sold, which was slightly lower than the figure reported in the period immediately prior. Meanwhile, more than 4.6 billion British pounds were available as prize money for potential winners of the National Lottery between April 2021 and March 2022.