Online Gambling Market Size
Online Gambling Market size was valued at over USD 90 billion in 2022 and is anticipated to grow at a CAGR of over 10% between 2023 and 2032.
The market is rising because more people are using smartphones and 5G internet technology. Augmented Reality (AR), Machine Learning (ML), and Artificial Intelligence (AI) are all supported by modern smartphones. This lets developers make gambling apps that are immersive and engaging. The growth of the online gambling sector is projected to be helped by the availability of cheap cellphones. Market expansion is being helped by approval from cultural and legal authorities, simple access to online gaming, celebrity endorsements, and corporate sponsorships. Digital improvements that happen at the same time as the yearly growth of online casinos are meant to build the trust that the online gaming industry needs.
The gambling market is made up of businesses (such casinos, bingo halls, video gaming terminals, lotteries, and off-track sports betting) that run gambling facilities. Bingo halls, coin-operated gambling device concession operators, bookmakers, lottery ticket sales agents, and card rooms are all part of this business. Casino hotel operators also sell gambling services and related merchandise as part of the gambling market.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Online Gambling Market Size in 2022 | USD 90 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 10% |
| 2032 Value Projection | USD 370 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 250 |
| Tables, Charts & Figures | 211 |
| Segments covered | Game, Device Type |
| Growth Drivers |
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| Pitfalls & Challenges |
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Since it first became popular, online gambling has been a hot topic in legal circles. It's hard to tell if gambling is based on talent or luck, which makes the regulations hard to follow. Because of this, the rules have evolved a lot over time and are different in different places. A lot of countries are worried that online gambling could make people lose all their money, so they're imposing limits on it. For instance, certain states in the U.S. have made internet gambling illegal, while others have fined gambling companies that disobey the rules. These rules can have a huge effect on the gambling business since corporations won't be able to do business in places where it's against the law.
COVID-19 Impact
The COVID-19 pandemic was good for the internet gaming business. During lockdowns, more and more people turned to different online platforms to deal with their social and financial problems. Because all sports and other events were closed during the lockdown, people got increasingly interested in virtual betting. The rise of the online gambling sector was helped by the fact that most casinos moved to a digital platform.
Online Gambling Market Trends
Hello, people who want to gamble! Online casinos are always busy trying to make your time there as good as it can be. They are working hard to make sure that you may play safely and fairly. Some online casinos offer free versions of their games to entice more people to play. They make money by showing adverts on these free things. Blockchain technology is also changing the way people gamble online. Cryptocurrency payments are now accepted by gambling applications and websites. This is because cryptocurrency is fast, secure, and popular among online gamblers because it has fewer laws and constraints. So, if you want to play in a safe and exciting method, online casinos are the place to go!
Online Gambling Market Analysis
Hello! We have two major ways to gamble onlineon a computer or on a mobile device. Desktop gaming has more over 45% of the market in 2022, and it's still growing quickly. Why? Desktops give you a whole new level of gaming fun. You can play with a huge screen on a computer or laptop. Think of 4K monitors that are 30 inches or more wide! You feel like you're really in the gaming world. You can also see all the little things that can go missed on a small phone screen. And the best part is that you may play different games at the same time if you have more than one screen! There are countless alternatives, from playing two poker games on different sites to betting on sports and playing slots at the same time.
Picture the world of online gambling as a huge industry with a lot of different games. This virtual marketplace is broken up into parts, just like a real market. These parts include betting, casinos, poker, lotteries, bingo, and more. Betting has been the most popular part of all these, getting more than 40% of the market's attention. Why? Because fans of sports all throughout the world are getting more and more excited about events. The more people learn about e-sports and watch live competitions, the more popular betting becomes. It's not simply fun to cheer for your favorite team or player. A key reason people want to play is the possibility to earn a lot of money. More and more individuals are getting into betting because it's easier than ever to do it online and people are becoming more aware of online gambling. This part of the online gambling business is going to get much bigger in the next years as gambling companies work together to make the betting experience even better.
In 2022, Europe had a huge 45% of the global online gaming market. Why is it so popular? First of all, there are a lot of new online gambling sites and mobile apps that make it easy to place bets from anywhere. Also, a lot of people in Europe are turning to online gaming. The UK, Italy, and the Nordic countries are really leading the way and helping the business flourish in the area. And as more and more individuals are getting addicted to gambling online, the market is just going to keep rising. But what is making people want to gamble so much? One factor is that European families have more money to spend. People have more money to spend on fun things as the economy gets better, and gambling is becoming a popular choice.
Online Gambling Market Share
Some major players operating in the online gambling market are
- 888 Holdings PLC
- Bet365 Group Ltd.
- Betsson AB
- Entain PLC
- Kindred Group PLC
- Flutter Entertainment
- bet-at-home.com AG
- Bally's Corporation
- International Games Technology
- Light & Wonder
- DraftKings Inc.
These players focus on strategic partnerships and new launches & commercialization for market expansion. They are heavily investing in research, allowing them to introduce innovative offerings and garner maximum revenue in the market.
Online Gambling Industry News
- In February 2023, Gannett Co., Inc. signed a multi-year strategic partnership with Gambling.com Group Limited, a player acquisition service provider for the regulated global online gambling industry. Under the agreement, Gambling.com Group will provide relevant content for sports fans while leveraging Gannett's reach across the U.S. media landscape through the USA TODAY Network.
- In January 2023, PokerMatch entered the Indian market by launching PokerMatch India, an Indian entity, in collaboration with Playtech, an online gaming software company. The company's decision to launch operations in India could be motivated by an ever-growing pool of players and the fastest-growing online gaming market.
The online gambling market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032, for the following segments
By Game
- Betting
- Boxing and UFC
- eSports
- Football
- Formula1
- Horse racing
- Tennis
- Others
- Casino
- Baccarat
- Blackjack
- Roulette
- Slots
- Others
- Poker
- Lottery
- Bingo
- Other games
​By Device Type
- Desktop
- Mobile
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- East Asia
- Southeast Asia
- South Asia
- Oceania
- Latin America
- Mexico
- Argentina
- Colombia
- MEA
- Africa
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