Global Sports Betting Market Soars: Projected to Reach $198.53 Billion by 2030

The global sports betting market is growing at a high rate and shows no signs of slowing. A widely cited estimate is that the market will expand from around US$108.92 billion in 2024 to US$198.53 billion in 2030. This growth is possible thanks to regulatory changes that open up new markets and technological innovations such as improved mobile apps and advanced data feeds.

Why the Market is Expanding So Quickly

There are a number of obvious reasons why the market is on this path of growth. Several market reports cite double-digit compound annual growth rates for the remainder of the decade, although precise projections vary by analyst. To learn more, visit Starmometer.

1. The increasing mobile and online spread makes it simple for far more individuals to bet whenever and wherever they want.

2. Regulators in many countries are establishing coherent frameworks under which licensed operators can grow without fear of legal crackdowns.

3. Quicker data feeds and AI-powered personalization enables bookmakers to present more appealing and varied betting products.

What This Means for Sportsbook Operators

Faster market growth means more competition and higher expectations from users. Bettors want fast in-play odds, broad event coverage, stable prices and solid markets across a wide range of sports. Operators that base their businesses on quality, low-latency data feeds and smart aggregation will be best placed to provide better user experiences, preserve healthy margins, and move faster into new markets. 

That’s exactly the problem solved by heavyweight odds aggregators such as Odds88 by normalizing formats and allowing access to it all through APIs so product teams can focus on UX and other features. Aggregators such as Odds88 offer modular data services for exactly this reason such as a dedicated bookmaker odds feed that connects sportsbook operators to aggregated, real-time pricing and can show both pre-match and live betting experiences.

Odds feeds and Aggregation

A quality bookmaker odds feed offers live and precise prices on a variety of sports and markets and aggregation services bundle sources to achieve access to the best available lines and to verify accuracy through cross-checking. Aggregation minimizes latency risk, improves market depth, and allows operators to offer competitive odds without having to directly negotiate themselves with dozens of individual bookmakers. 

Leveraging an odds aggregator allows for quicker time-to-market for product launch, smoother in-play operations, and fewer surprises in the course of high-traffic events like major tournaments. Aggregators such as Odds88 have broad coverage (100+ sports and thousands of events daily) and real-time updates in order to meet the demands of busy operators.

How Operators Should Prepare

Operators who wish to succeed in an almost $200 billion market must prioritize three things: data quality, user experience, and regulatory readiness. Begin by incorporating a trusted bookmaker odds feed so that your lines are competitive and refreshed in real time. 

Then, invest in UX for mobile and in-play betting. Simple and fast interfaces turn more sessions into more bets. Make compliance a core feature so that you can move into new licensed markets fast and securely. Aggregated APIs and modular sports data aggregators allow sportsbooks to move more swiftly without having to do substantial engineering work.

? Use a reliable bookmaker odds feed to ensure your odds are competitive and updated instantly.

? Invest in a simple and fast interface for mobile and in-play betting to encourage more bets.

? Make compliance a core feature so you can enter new licensed markets quickly and securely.

FAQ

Q: What is a bookmaker odds feed, and why is it important?

A bookmaker odds feed provides live odds from a single or multiple bookmakers in order for sportsbooks to price markets efficiently and effectively. It is important because more efficient, accurate pricing results in improved user experiences and minimizes exposure to stale or incorrect odds.

Q: Who utilizes odds aggregation services?

Sportsbook operators, affiliate websites, and any business in need of normalized real-time betting prices use aggregation services. Aggregation facilitates the ease of doing business.

Q: How many events and sports do modern feeds cover?

Leading aggregators usually offer more than 100 sports and thousands of events daily. Odds88, for instance, promotes coverage of 110+ sports and 4,000+ events daily.

Q: Are market forecasts certain?

No. Projections are model-based estimates and assumptions. Various analysts will have varying figures, e.g., 2030 market projections range from about US$182B to US$198.5B depending on methodology. These should be used by companies as probable scenarios, rather than guaranteed outcomes.