The youth sports market is a big industry, ranging from organized sports leagues to recreational activities. How big is the global youth sports market? Events on which wagers are made could be anything from more traditional activities like horse or dog racing, to sports such as soccer and American football. Sports betting is a type of gambling that refers to the activity of placing a wager on the outcome of a sporting event. This figure showed a decrease from the previous year's total of 242.82 billion and by 2023, the market was forecast to reach 242 billion. In 2022, the market size of the sports betting and lottery sector worldwide was valued at around 235.46 billion U.S. How big is the global sports betting and lottery market? This massive industry includes the people, activities, and organizations that are involved with producing, facilitating, or organizing sports activities. By 2027, the global sports market was expected to be worth over 623 billion U.S. dollars and was expected to grow at a compound annual growth rate of 5.2 percent between 20. In 2022, the industry’s revenue amounted to nearly 487 billion U.S. The global sports industry revenue was forecast to grow in the coming years.

Sports betting industry revenue by year