This doesn't necessarily represent the typical behavior of an unshackled market, either. Taking the UK as an example of a more mature market for comparison, the sheer scale of the growth, even after just two years, becomes clear - not just expanding to the same size in a rapid amount of time, but significantly outgrowing it. That's just the beginning though, as according to Statista analysts, the market is expected to grow even further up to 2027, with a forecast 24 million users and a penetration rate of 59 percent. ![]() By 2023, there are expected to be over 16 million people placing online sports bets, making for an astonishing 42 percent penetration rate. ![]() According to estimates by Statista Market Insights, that year saw 6.1 million online users and a penetration rate of 16 percent. ![]() When single-game sports betting was legalized in Canada in the summer of 2021, a massive wave of demand was unleashed.
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