Of course, running a sportsbook requires a practical approach. In South Africa, the sports industry accounted for more than 51% of gambling revenue in 2020 and generated $2.5 billion in GGR in 2021.īeyond the emergence of new markets and the COVID-19 pandemic, more modern entrepreneurs are opting to invest in the online gambling sector due to the major benefit of being able to cover several markets at once.

Several markets within the continent have legalized online wagers, with South Africa accounting for over 80% of Africa’s gambling industry. Outside of North America and Europe, online sports betting is a growing industry in Africa. Moreover, Europe’s market share of online gambling is steadily growing and is expected to reach 33.6% of its GGR by 2025. In the UK alone – Europe’s biggest online market – the GGR for remote betting reached a total of £2.6 billion between April 2020 – March 2021. Considering sports betting is currently legal in just 11 out of the country’s 50 states, and more states are considering legalizing it, both the market and revenue size are only likely to increase.Īcross the pond in Europe, sports betting continues to be the most popular online gambling activity, accounting for 41% share of the continent’s online revenue, and was worth €10 billion in gross gaming revenue (GGR) in 2019. This is up 165% from 2020, resulting in $4.29 billion in revenue. The legalized US sports betting market doubled in size in 2021, with Americans betting more than $52.7 billion on sports throughout the year. This prediction is no surprise as the sports betting industry is exploding in several markets around the world today. According to Zion Market Research, the global sports betting market is expected to be worth US$179.3 billion by 2028 with CAGR of 8.33% during 2021 to 2028. Every year the industry grows, with more markets around the globe legalizing the activity and more betting businesses popping up for a chance to score their piece of this lucrative pie. Just how much is the industry worth? Online sports betting is a multi-billion-dollar industry that shows no signs of slowing down. In turn, this means the incomes of entrepreneurs who’ve successfully invested in the online sportsbook business are also increasing.

The increase in the number of players betting online has boosted bookmakers’ revenue growth.

Why this year? The online betting sector has steadily grown over the past couple of decades, and COVID-19’s impact on land-based betting shops and casinos, has kicked iGaming investments into high gear. If you have a passion for sports betting and the determination to succeed as a modern entrepreneur, 2022 is the perfect year to launch an online betting business.

How to start a sports betting system