“Download this app!” I urged my family, “You’ll get $200 free to bet!” Five years ago sports betting became legal across most of the United States. From 2019 to 2023, sports betting downloads increased from 6 million to 33 million. In 2021 alone, the percentage of Americans who regularly bet on sports more than doubled jumping from 5% to 12%.
By 2024, the sports betting market reached an estimated size of $70 billion, generating $13.7 billion in revenue. Analysts predict the industry will continue its skyrocketing growth, projecting it to reach $187 billion by 2030.