A recent study by the International Betting Integrity Association (IBIA) reveals that the sports betting market in Asia, particularly in basketball and football, is expanding rapidly. The report, produced by H2 Gambling Capital for IBIA and partners including the Instituto Brasileiro de Jogo Responsável (IBJR), Canadian Gaming Association (CGA), Netherlands Online Gambling Association (NOGA), and Responsible Wagering Australia (RWA), projects a global sports betting market valued at $94 billion in gross gaming revenue (GGR) for 2024. Of this, 65 percent, or $61 billion, is expected to come from online betting.
Looking ahead, this figure is expected to rise to $132 billion by 2028, with over 70 percent—approximately $93 billion—attributed to online bets. Notably, growing interest in sports like football and cricket is pushing countries such as China and India to the forefront of the industry.
Football remains the largest sports betting segment, predicted to generate around $53 billion in GGR from an estimated $570 billion turnover in 2024, capturing over 56 percent of the global regulated betting market. Digital platforms dominate, with nearly 65 percent of football GGR from online sources. Europe and Asia are projected to account for 85 percent of global football betting GGR by 2024.
Basketball betting is also seeing rapid growth, with North America projected to contribute around $5.4 billion in GGR by 2028. Europe and Asia are similarly set to expand, reaching $2.3 billion and $3.2 billion, respectively, with notable growth rates over the forecast period.
Onshore and Offshore Betting Trends
The report notes that in 2024, 83 percent of all sports bets are anticipated to be placed with licensed onshore operators, up from 63 percent in 2018. However, about 17 percent of bets will still be placed offshore, with unregulated markets remaining particularly active in regions like Asia. The analysis suggests that prohibiting or restricting in-play betting has little effect on deterring corruption, as large offshore markets remain accessible to consumers.
Demand for diverse betting options, especially in-play betting, is likely to continue growing. As Asian markets consider regulatory updates, opportunities to engage consumers through regulated online sports betting could strengthen, meeting demand while promoting safer gambling practices.
Ensuring Integrity Amid Expansion
As sports betting expands, the report underscores the importance of establishing strong regulatory frameworks to uphold fair play and protect consumers. The IBIA advises that Asian countries may benefit from adopting international standards to better monitor betting activities and prevent match-fixing.
The report highlights that, similar to Brazil’s expected regulatory reforms, Asian countries may look to develop structured frameworks to boost onshore revenues and reduce offshore activity. The IBIA anticipates that as more Asian nations legalize and regulate sports betting, the region will experience substantial growth in GGR. Such measures are likely to support economic development and promote consumer safety through well-regulated betting environments.
