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.
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The growing adoption of smartphones, as well as 5G internet technology, is propelling the market forward. Modern smartphones support Augmented Reality (AR), Machine Learning (ML), and Artificial Intelligence (AI), allowing developers to create immersive & interactive gambling applications. The availability of low-cost smartphones is expected to fuel online gambling market expansion. Approval from cultural & legal authorities, easy access to online gambling, celebrity endorsements, and corporate sponsorships are contributing to market growth. Digital advancements occurring in tandem with the annual expansion of online casinos are intended to achieve the desired trust in the online gambling sector.
The gambling market is made up of entities (organizations, sole traders, and partnerships) that operate gambling facilities such as casinos, bingo halls, video gaming terminals, lotteries, and off-track sports betting. This market includes bingo halls, coin-operated gambling device concession operators, bookmakers, lottery ticket sales agents, and card rooms. The gambling market also includes the sale of gambling services and related goods by casino hotel operators.
Online Gambling Market Report Attributes
| 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 |
- Adoption Of Blockchain Technology
- Rising Internet Penetration
- Increasing Regularization of Online Gambling
- Rising Adoption of Mobile and Online Payment Gateways
- Availability Of Cost-Effective Betting Applications
|
| Pitfalls & Challenges |
- Industry Regulations and Standards
- Insufficient regulatory framework
- Financial transaction barriers
|
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Online gambling has been a hot topic for legal debate since it first became popular. The laws are tricky, since it's not always clear if gambling is based on skill or luck. Because of this, the rules have changed a lot over time and vary from place to place. Many countries worry that online gambling could lead to people losing all their money, so they're putting restrictions in place to limit it. For example, some states in the U.S. have banned online gambling entirely, and others have fined gambling websites that break the rules. These restrictions can have a big impact on the gambling industry, since companies won't be able to operate in areas where it's illegal.
COVID-19 Impact
The COVID-19 pandemic benefited the online gambling industry. During lockdowns, an increasing number of consumers turned to various virtual platforms to counter their financial and social crises. Consumers became more interested in virtual betting due to the strict closure of all sports and other events during the lockdown. Most gambling establishments shifted to a digital platform, aiding the online gambling market growth.
Online Gambling Market Trends
Hey there, gambling enthusiasts! Casinos online are busy bees, working on ways to make your experience the best it can be. They want you to play safe and fair, so they're putting a lot of effort into security and fairness. To get more people hooked, some online casinos offer free versions of their games. They make money from ads on these freebies. blockchain technology is also shaking up online gambling. Gambling apps and websites are now accepting payments in cryptocurrency, which is fast, secure, and trendy among online gamblers because it has fewer rules and limits. So, if you're looking for a thrilling and secure way to play, online casinos have got you covered!
Online Gambling Market Analysis
Hey there! When it comes to online gambling, we've got two main optionsdesktop and mobile. In 2022, desktop gaming ruled with over 45% of the market, and it's still growing strong. Why? Because desktops give you a whole new level of gaming experience. With a computer or laptop, you've got a massive screen to play with. Think 4K monitors that stretch 30 inches or more! It's like stepping into the game world yourself. Plus, you can see all the tiny details that might slip by you on a tiny phone screen. And here's the kickerif you have multiple screens, you can play different games at the same time! From two poker games on different sites to multitasking between sports betting and slots, the options are endless.
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Imagine the world of online gambling as a grand market teeming with different games. Just like a market in real life, this virtual marketplace is divided into sectionsbetting, casinos, poker, lotteries, bingo, and more. Out of all these sections, betting has been the star of the show, grabbing over 40% of the market's attention. Why? Because sports fans around the world are getting more and more excited about tournaments. And as people become more familiar with e-sports and watch more live-streamed competitions, the popularity of betting skyrockets. It's not just about the thrill of cheering on your favorite team or player. The chance to win big money is a huge draw. And with the internet making it easier than ever to bet online and the growing awareness of online gaming, more and more people are jumping into the betting arena. As gambling companies team up to make the betting experience even better, this segment of the online gambling market is set to grow even bigger in the years to come.
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Europe has taken the lead in the online gambling game, holding a whopping 45% of the worldwide market in 2022. Why so popular? Well, for starters, there's been an explosion of online gambling websites and mobile apps that make it easy to place bets from anywhere. Plus, in many European countries, people are flocking to online gambling in droves. The UK, Italy, and the Nordic countries are really leading the charge, driving the industry's growth in the region. And with more and more people getting hooked on online gambling, the market is only expected to keep growing. But what's fueling this gambling frenzy? One reason is the rising disposable income enjoyed by European households. As the economy thrives, people have more cash to splash on entertainment, and gambling is proving to be a popular choice.
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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
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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
The above information is provided for the following regions and countries
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- East Asia
- Southeast Asia
- South Asia
- Oceania
- Latin America
- Mexico
- Argentina
- Colombia
- MEA
