Overview and Scope
Online Gambling is the use of the internet for the act of wagering money or something of value on an event with an uncertain outcome that is not under the gambler’s control, with the intent of winning something else of value, often money.
Sizing and Forecast
The online gambling market size has grown strongly in recent years. It will grow from $88.65 billion in 2023 to $96.89 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to strong economic growth in emerging markets, growing adoption of smartphones with improved internet accessibility, increasing popularity of digital payments and rise in disposable income.
The online gambling market size is expected to see strong growth in the next few years. It will grow to $137.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to increasing gamer involvement during the covid-19 pandemic, increasing consumer acceptance for fintech, technically advanced platforms, legalization of gambling and changing consumer gambling habits . Major trends in the forecast period include investing in ai technology to enhance user experience, integrating cryptocurrency as a payment mode, building mobile apps, investing in ar and vr technology, sponsoring sports events with large viewership, tie-up with celebrities and influencers, offer free access to games with certain main features and offer cross platform support for games.
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Segmentation & Regional Insights
The online gambling market covered in this report is segmented –
1) By Game Type: Betting, Casino, Lottery, Poker, Bingo, Others
2) By Device: Desktop, Mobile, Other Devices
3) By Component: Software, Services
Asia-Pacific was the largest region in the online gambling market in 2023. Eastern Europe is expected to be the fastest-growing region in the global online gambling market report forecast period. The regions covered in the online gambling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing adoption of smartphones with the improved internet accessibility is driving the online gambling market. Globally, the average use of mobile devices compared to desktop computers or laptops is significantly greater. In most countries, mobile users account for about 80% of all users in the online gambling industry. For instance, in July 2023, according to DemandSage, a US-based data reporting and analytics solutions provider, 86% of the population around the globe owns a smartphone. There are 6.8 billion smartphone users worldwide as of 2023. In the United States 94.4% millennials own a smartphone. Nearly half of the U.S. population dedicates 5 to 6 hours per day to using smartphones. This, in turn, is expected to drive the growth of online gambling market.
Key Industry Players
Major companies operating in the online gambling market report are Flutter Entertainment plc, bet365 Group Ltd., Entain plc, Kindred Group plc, William Hill PLC, 888 Holdings PLC, International Game Technology PLC, Betsson Ab, DraftKings Inc., Betfred, QQ Lottery, Las Atlantis, Sports Toto Malaysia, Ruby Fortune, Jackpot City, SPIN Casino, 32Red, Royal Vegas, Europa Casino, Mobile Premier League, 1xBet, Evolution Gaming, Netent, Microgaming and Play ‘n’ Go, Bodog88, 188bet.g, Ladbrokes Coral, Sky Betting & Gaming, Super slots, Pari Mutuel Urbain, CODERE, SuperWins, Bede Gaming, Betfair, Buzz Bingo, Superbet, GVC Holdings PLC22BET, Betway, Scientific Games, Buffalo Partners, Betway, LeoVagas.com, 22BetCherry AB, Casino.Com, Slots Million, Camelot UK Lotteries Ltd., Jumeirah, Farah Experiences LLC, BetKing, Betcoza, MelBet
The online gambling market report table of contents includes:
- Executive Summary
- Online Gambling Market Characteristics
- Online Gambling Market Trends And Strategies
- Online Gambling Market – Macro Economic Scenario
- Global Online Gambling Market Size and Growth
- Online Gambling Market Segmentation
- Online Gambling Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Online Gambling Market
- Online Gambling Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Online Gambling Market, Segmentation By Game Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Online Gambling Market, Segmentation By Device, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Online Gambling Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…………..
Table 74: Flutter Entertainment plc Financial Performance
Table 75: bet365 Group Ltd. Financial Performance
Table 76: Entain plc Financial Performance
Table 77: Kindred Group plc Financial Performance
Table 78: William Hill PLC Financial Performance
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