Online Gambling Market Size is projected to reach USD 153 Billion by 2030, growing at a CAGR of 11.7%: Straits Research

The global online gambling market size was valued at USD 57 billion in 2021. It is estimated to reach USD 153 billion by 2030, growing at a CAGR of 11.7% during the forecast period (2022–2030). Europe accounts for the largest market share and is estimated to grow at a CAGR of 12% over the forecast period.

New York, United States, Sept. 08, 2022 (GLOBE NEWSWIRE) — The widespread availability of low-cost mobile applications for online gaming and betting is anticipated to drive market expansion throughout the forecast period. In addition, increasing internet penetration is expected to increase the use of online gaming platforms worldwide. This is leading to a rise in global investments in online gambling platforms and the number of live casinos. In addition, the growing popularity of the freemium business model is anticipated to fuel market expansion throughout the forecast period.


Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/online-gambling-market/request-sample


Increased Investments in Online Gambling Propels the Market Forward

The expanding demand for cost-effective payment solutions is partly responsible for the increasing investments in the online gaming industry. The development of virtual reality and augmented reality is an additional key factor supporting investments in online gaming. Professional gamers are compelled to invest in sports betting and the stocks of some of the leading online gambling organizations due to the vast investment potential available on the market. Diverse new entrants and investors are reaching out to operators, suppliers, regulators, and industry-focused legal/financial consultants in the online gaming business.

Continuous technical advances also contribute significantly to industry expansion. The most significant innovations include business models like virtual currency and social casinos, game styles such as in-play sports betting, and mobile geolocation. There are investments in facial recognition software based on artificial intelligence and cryptocurrencies. In addition, market participants’ growing preference for Virtual Reality (VR) to deliver a realistic gaming experience will favorably impact the market sector. In 2021, for example, the major sports betting and gaming entertainment company Entain introduced the first VR-based multisport entertainment. This new offering was created by the corporation in partnership with Verizon Media.

Sponsorships and Convenient Payment Options Create Untapped Growth Potential

The increasing prevalence of mobile and online payment gateways has made payment choices easier for customers and online gamers. The gaming industry accepts online payment as a safe and secure transaction method. This element contributes to the expansion of the online gaming market. The internet betting section is growing in tandem with the online sports category, particularly for football competitions such as the FIFA World Cup and the European Championships. As part of their marketing operations, many online sports betting organizations sponsor other teams by acquiring or combining with many companies for strategic expansions.

DraftKings Inc. and Golden Nugget Online Gaming Inc. signed a definitive agreement for DraftKings to buy Golden Nugget Online Gaming in August 2021. DraftKings was able to capitalize on Golden Nugget’s (iGaming) product experience and more than 5 million user database through the acquisition.


Report Scope

Report Metric Details
Market Size USD 153 Billion by 2030
CAGR 11.7% (2022-2030)
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Device, Regions
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Bet365 Group Ltd, Betsson AB, GVC Holdings PLC (Entain plc), Kindred Group PLC, Ladbrokes Coral Group plc, Paddy Power Betfair plc (Flutter Entertainment), Sky Betting & Gaming, 888 Group, Stars Group Inc. (Flutter Entertainment), William Hill PLC 91.
Key Market Opportunities Sponsorships and Convenient Payment Options
Key Market Drivers Increased Investment in Online Gambling

Buy Now Full Report @ https://straitsresearch.com/buy-now/online-gambling-market


Regional Insights

Europe accounts for the largest market share and is estimated to grow at a CAGR of 12% over the forecast period. Multiple European nations, including Italy, Malta, France, Spain, and Germany, have legalized gambling, contributing to this development. The availability of high-speed internet, the rising popularity of online casinos, and the expanding use of smartphones are other market growth drivers. In addition, the Gaming Act of 2005 imposed by the UKGC (U.K. Gambling Commission) has made it possible for enterprises to promote their gambling websites, which helps to increase the regional market.

Asia-Pacific is estimated to account for USD 50 billion by 2030, growing at a CAGR of 12.8%. The growth is attributable to the rising usage of internet services and the relaxation of regulations governing online gaming and betting. The growing popularity of Esports and other sporting events has also fueled the market. Due to technological developments in the gaming sector, high-speed networks, and accessible and affordable internet data, India and China are entering the market. Furthermore, the use of cryptocurrencies for gaming has expanded due to the popularity of bitcoins. The strong economic growth and rising spending on leisure activities will also likely drive the market.

North America is the third largest region. Only bookmakers with licenses from Nevada, Pennsylvania, or New Jersey can operate lawfully under the current online gambling legislation in the United States because these are the only three states with online gambling regulations. The biggest and fourth-largest state to authorize and control online gambling is Pennsylvania. New Jersey has many internet casinos, sportsbooks, and sports betting applications. The Division of Gaming Enforcement in New Jersey supervises and controls the state’s online gaming platforms. It manages site licensing, tax revenue collection, and the testing and approval of games. The biggest market in the US for legalized internet gambling is New Jersey. In terms of online gambling, Canada is mostly uncontrolled. Simultaneously, Mexico evaluates its gambling regulations to harmonize them with the country’s overall gambling industry. Therefore, it is anticipated that the market will continue to grow as online gambling becomes more mainstream in North America.


Key Highlights

  • The global online gambling market size was valued at USD 57 billion in 2021. It is estimated to reach USD 153 billion by 2030, growing at a CAGR of 11.7% during the forecast period (2022–2030). 
  • Type-wise, the global online gambling market is segmented into Sports Betting, Casinos, Poker, Bingo, and Others. The Sports Betting segment accounts for the largest market share and is estimated to grow at a CAGR of 12.5% over the forecast period.
  • Device-wise, the global online gambling market is segmented into Desktop, Mobile, and Others. The Desktop segment accounts for the largest market share and is estimated to grow at a CAGR of 11.4% over the forecast period.


Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/online-gambling-market/request-sample


Key players in the global online gambling market are

  • Bet365 Group Ltd
  • Betsson AB
  • GVC Holdings PLC (Entain plc)
  • Kindred Group PLC
  • Ladbrokes Coral Group plc
  • Paddy Power Betfair plc (Flutter Entertainment)
  • Sky Betting & Gaming, 888 Group
  • Stars Group Inc. (Flutter Entertainment)
  • William Hill PLC 91.


Global Online Gambling Market: Segmentation

By Type

  • Sports Betting
  • Casinos
  • Poker
  • Bingo
  • Others

By Device

  • Desktop
  • Mobile
  • Others

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • The Middle East and Africa


TABLE OF CONTENT

  1. Introduction
    1. Market Definition
    2. Market Scope
  2. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview
    1. Report Segmentation & Scope
    2. Value Chain Analysis: Online Gambling Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Type Overview
    1. Introduction
      1. Market Size & Forecast
    2. Sports Betting
      1. Market Size & Forecast
    3. Casinos
      1. Market Size & Forecast
  5. Device Overview
    1. Introduction
      1. Market Size & Forecast
    2. Desktop
      1. Market Size & Forecast
    3. Mobile
      1. Market Size & Forecast
  6. Regional Overview
    1. Introduction
      1. Market Size & Forecast
    2. America
      1. North America
      2. U.S.
        1. By Type
        2. By Device
      3. Canada
        1. By Type
        2. By Device
      4. Mexico
        1. By Type
        2. By Device
      5. Latin America
        1. By Type
        2. By Device
    3. Europe
      1. Market Size & Forecast
      2. Germany
        1. By Type
        2. By Device
      3. France
        1. By Type
        2. By Device
      4. U.K.
        1. By Type
        2. By Device
      5. Italy
        1. By Type
        2. By Device
      6. Spain
        1. By Type
        2. By Device
      7. Rest of Europe
        1. By Type
        2. By Device
    4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
        1. By Type
        2. By Device
      3. China
        1. By Type
        2. By Device
      4. Australia
        1. By Type
        2. By Device
      5. India
        1. By Type
        2. By Device
      6. South Korea
        1. By Type
        2. By Device
      7. Rest of Asia-Pacific
        1. By Type
        2. By Device
    5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Type
        2. By Device
      3. South Africa
        1. By Type
        2. By Device
      4. Kuwait
        1. By Type
        2. By Device
      5. Rest of Middle East & Africa
        1. By Type
        2. By Device
  7. Company Profile
    1. Bet365 Group Ltd
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. Betsson AB
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. VGC Holdings PLC (Entain plc)
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
  8. Conclusion & Recommendation
  9. Acronyms & Abbreviations


Table of Content and Figure @ https://straitsresearch.com/report/online-gambling-market/toc


Market News

  • In August 2022, Entain plc (LSE: ENT), the global sports-betting, gaming, and interactive entertainment group (“Entain” or “the Group”), partnered with EMMA Capital (“EMMA”), a leading investment firm in the Czech Republic, to establish a new venture (“Entain CEE”) to drive expansion in Central and Eastern Europe (“CEE”). Entain will own 75% of Entain CEE’s economic rights. EMMA will sell the SuperSport Group (“SuperSport”) to Entain CEE. SuperSport is Croatia’s top gaming and sportsbook operator (the “Acquisition”).
  • In June 2022, BetMGM, a prominent sports betting and iGaming operator, announced a partnership with Sony Pictures Television and International Game Technology PLC (“IGT”) (NYSE: IGT) to create Wheel of Fortune Casino, which will be the first brand-led online casino in North America. The legendary American game show Wheel of Fortune is ready for its landmark 40th season. Over the past 25 years, more than 250 variations of Wheel of Fortune slot games have been released, and this online debut of Wheel of Fortune Casino will be the latest gaming extension for the brand.


News Media

The Wealth Expansion in the APAC Region Has Bolstered the Growth of the Global Online Gambling Market

Live Events to Drive a Prominent Share of Secondary Ticket Sales in Europe


Have a Look at the Related Research Report

Online Smartphone and Tablet Games Market: Information by Operating System (Android, iOS), Game Type (Massive Multiplayer Online Games, Casual), and Region — Forecast till 2030
Mobile Entertainment Market: Information by Services (Mobile Games, Mobile Music), Advertisement (Social Media Advertising, Online Video Advertising), and Region — Forecast till 2029


About Straits Research Pvt. Ltd.

StraitsResearch is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.

Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.

                                                                               

For more information on your target market, please contact us below:

Phone: +1 646 480 7505 (the U.S.)

+91 8087085354 (APAC)          

+44 208 068 9665 (the U.K.)

Email: [email protected]

Follow Us: LinkedIn | Facebook | Instagram | Twitter

Previous post CBI AlphaVerse Metaverse to Open on September 20, 2022
Next post IBCoin emerges as the Leading Innovator in Blockchain Digital Asset Trading Services.