Let’s take all these factors one by one: Shifting consumer habitsīefore the advent of the Internet, sports betting mostly fell in the “delayed gratification” realm. Finally, as more and more users adopted gambling, companies had a greater incentive to create new technologies in a bid to differentiate themselves amongst the increasingly competitive gambling market.

The growing digital infrastructure directly led to the uniformization of internet gambling and the introduction of new sports. To give you just one example, the shifting consumer habits caused by the ease of the then-new innovative technologies led leaders to invest more in growing digital infrastructure. The main reasons behind the sports betting industry’s growth were internet-adjacent, and all of them intertwined. Internet gambling predates smartphones by at least ten years. There’s also the fact that internet gambling isn’t a singularly post-2000 phenomenon. By 2010, there were 1.97 billion internet users – an increase of 14% compared to the previous year’s 825.1 million users. While it might make the most sense to attribute the industry’s shift to the widespread adoption of Internet-based services and smartphones, we must consider that the Internet was already on a growing trend by the end of the Aughts and the beginning of the 2010s. The growth of the sports betting industry hasn’t occurred in a vacuum. Sports Betting Growth – How and why did the sports betting industry reach its current level? The sports betting industry’s tremendous growth begs two questions: how did we get here, and more importantly, how do these numbers translate into business for the average bookkeeper? This article will explore the main factors behind this industry’s growth, the numbers, and how bookmakers can thrive in the current (extremely favourable) landscape.

According to Vantage Market Research, the sports betting market is valued at a staggering $81.03 billion in 2022 and is forecast to double that value by the year 2030 – $167.50 billion, to be precise. It’s safe to say that the sports betting industry is larger than ever.

Sports betting industry