Categories: Market Research

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

The Online 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).

Learn More On The Online Gambling Market:

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

According to The Business Research Company’s Online Gambling, 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.

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.

Get A Free Sample Of The Report (Includes Graphs And Tables):

https://www.thebusinessresearchcompany.com/sample.aspx?id=3974&type=smp

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

Technologies such as Blockchain, IoT, and VR are changing everything in every field including online gambling. Virtual Reality and VR Headsets have gained a lot of popularity in recent years and are a revolutionary addition to the world of online gambling. With VR, one can enter a virtual casino and play all the games without having to travel. However, fraud and cheating were majorly concerning the users of online gambling. A lot of online casinos and online gambling sites have been accused of not being transparent and hiding their internal workings and the methods for their dealings. These concerns can be addressed using blockchain technology. With blockchain technology, everyone will be able to see exactly what is going on behind the scenes. Games such as SlotsMillion, Casino VR Poker, and The Gear that are played through VR are engaging customers and shaping the online gambling industry.

The online gambling market report table of contents includes:

 

  1. Executive Summary
  2. Online Gambling Market Characteristics
  3. Online Gambling Market Trends And Strategies
  4. Online Gambling Market – Macro Economic Scenario
  5. Global Online Gambling Market Size and Growth

 

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  1. Global Online Gambling Market Competitive Benchmarking
  2. Global Online Gambling Market Competitive Dashboard
  3. Key Mergers And Acquisitions In The Online Gambling Market
  4. Online Gambling Market Future Outlook and Potential Analysis
  5. Appendix

Top Major Players:

  • Flutter Entertainment PLC
  • bet365 Group Ltd.
  • William Hill PLC
  • 888 Holdings PLC
  • International Game Technology PLC

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