The online sports betting industry is projected to bring in $35.07 billion in revenue in 2023. MMA/Boxing is expected to be the largest online sports betting segment.
According to the numbers presented by SafeBettingSites.com, online betting on MMA/boxing is set to produce $ 5 billion in revenue.
Tennis Brings More Revenue Than Other Popular Sports Such As Football
According to the numbers projected by Statista in their latest market insights, the online sports betting industry is set to produce $35.07 billion in revenue. in comparison, last year, the online betting industry produced $29.59 billion in revenue. Thus, the online betting industry is set to witness a 18.5% increase in overall revenue in 2023.
When we look at the annual revenue distribution among different segments, MMA/Boxing betting comes out on top. According to the report, Boxing/MMA betting is backed to bring in $5 billion in revenue this year. Last year, the same segment made 4.22 billion in revenue.
Surprisingly, Tennis takes the second spot among different sports segments. Tennis betting brings in more revenue compared to other popular sports such as football, American football, and Basketball. In 2023, Tennis betting is set to bring in $3.98 billion in revenue. Last year, this amount was $3.36 billion.
Football (Soccer) takes the third spot on the list with an estimated annual revenue of $3.73 billion in 2023. Football betting is considerably more popular in Europe compared to other major online betting markets. Last year, the revenue from online football betting stood at $31.4 billion.
American football is just a little behind its European counterpart, with an estimated revenue of $3.67 billion in 2023, up from $3.10 billion in 2022. Another popular US sport, Basketball, is next on the list. The Basketball betting market is expected to make $3.28 billion in revenue. Last year, this figure was $2.77 billion.
In recent years, Esports betting has emerged as another strong segment in the industry. This year, esports betting is set to make an impressive $2.39 billion in revenue. Last year, the online esports betting industry was worth $2 billion.
Other sports make up the rest of the annual revenue. As per the Statista report, other sports put together are expected to bring in $13.03 billion in 2023.
For rest of the statistics and graphs, check out the full report at: https://www.safebettingsites.com/2023/07/25/boxing-mma-is-the-largest-segment-in-online-sports-betting-with-5billion-in-revenue/
