Categories: Market Research

Gambling Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Gambling by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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https://www.thebusinessresearchcompany.com/report/gambling-global-market-report

According to The Business Research Company’s Gambling, The gambling market size has grown strongly in recent years. It will grow from $540.27 billion in 2023 to $580.36 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to emerging markets growth, growth in female gamblers and increased betting on e-sports.

The gambling market size is expected to see strong growth in the next few years. It will grow to $744.76 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to legalization of gambling, rapid urbanization, increasing use of social media and rising population. Major trends in the forecast period include investing in gambling games that use ar and vr technology, adopt advanced technologies to introduce live casinos, invest in sports betting, invest in providing mobile gambling services, invest in online casinos facilities, adopt cryptocurrencies to improve transparency in transactions, invest in branded slot games and gambling services through smart watch applications, offering offshore betting services, offer keno games.

Changing Consumer Gambling Habits: The demand for gambling is expected to be driven by the changing gambling habits of consumers. The increasing popularity of gambling apps and social gambling will propel the growth of the market going forward. The global social casino market reached $6.62 billion in 2022, growing at a CAGR of 7.26%. The increasing adoption of mobile devices and increasing internet penetration will drive the demand for online gambling, driving market growth.

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The gambling market covered in this report is segmented –

1) By Type: Casino, Lotteries, Sports betting, Others

2) By Channel: Offline, Online, Virtual Reality

3) By End User: Gambling Enthusiasts, Social Exuberant, Others

Branded slots are increasingly becoming popular in the gambling industry. Branded slots are licensed online casino games built around universally popular subjects such as movies, TV shows, music, or books. Brand loyalty draws customers towards trying slot games revolving around their favorite characters. Branded online slot games attract casual bettors, even the ones with little experience and interest in slot machines, as they create a connection with the players due to their familiarity with characters on the slots, increasing the traffic on the slot machines. Branded slots based on Game of Thrones, Westworld, Batman, and Jurassic Park are some of the most popular branded slot games.

The gambling market report table of contents includes: