Global Online Gambling Market - Segmented by Game Type (Betting, Bingo, Lottery, Casino, Others), Device (Desktop, Mobile), and Geography - Growth, Trends and Forecasts (2022 - 2030)
The global online gambling market is expected to register a CAGR of 9.7% during the forecast period, 2018 to 2023. Gambling industry is one of the highly influenced industries towards online platforms, as it is extremely responsive to new technologies and innovations. Growing hardware and software innovations to benefits gambling operators and their players is likely to influence the market growth. The online gambling market is strictly regulated due to this the growth opportunities for market in limited to certain countries only. Online casinos have experienced a steady growth in popularity over the past few years, with more and more people registering with sites in order to enjoy online casino games. However, the law governing the prohibition of online gambling in America is somewhat unclear which is further restricting the market growth.
Increasing Legalization of Online Gambling to Drive the Online Gambling Market Growth
Low risk of carrying money and increasing attraction of consumers towards online sport betting is providing opportunity for the market growth during the forecast period. In some regions, there has been minimal growth of the market due to the strict government regulations, which become a huge constraint for existing players to explore new market to expand consumer base. In recent time, online gambling is witnessing significant growth, especially in countries from North America and Europe region; certain states in the US are allowing legal online gambling in recent time period. For instance, Pennsylvania, New York, Kentucky, and Lowa are four major US states which have legalized online gambling. This factor is playing key role to drive the online gambling market growth in North America region.
Online Casino to Witness Fastest Growth during the Forecast Period
Improved internet penetration have proven to be one of the major drivers for the growth of online gambling market along with mobile and live gaming that have had a profound impact on operators. Introduction of advance technologies such as Chatbots, machine learning and AI are creating significant impact on the growth of online gambling market. Additionally, adaptation of virtual reality gaming for online gambling is likely to change the market dynamics in the upcoming years. Sports betting, on the other hand is likely to witness the significant market growth as it is popular in developed countries. For instance, Kentucky is one of the most recent states to join the sports betting legalization. Kentucky is horse racing capital is introducing two bills that would influence the growth for sport betting from offline and online gambling platforms.
North America to Witness Significant Growth Rate during Forecast Period
Globally, more than 84 nations have legalized online gambling which is the main factor to support the market growth during the forecast period. Europe holds the significant market share in online gambling as more than half of the countries who legalized the online gambling are from Europe region. Many of European countries are also legalizing online betting in recent time period. For instance, Netherlands adopts new online gambling regulations. In the US, local gambling regulatory authorities to decide which poker operators were to be allowed to apply for online gambling licenses which is retaining the market growth in North America. For instance, one of the biggest providers of online poker services, PokerStars, failed to get the licensed as local casino argued that the operator had previously violated the Unlawful Internet Gambling Enforcement Act.
Key Developments in the Online Gambling Market
Jul 2018: Nine casino owners in Pennsylvania are seeking licenses to operate casino-style gambling online. Pennsylvania last year became the fourth state to legalize online gambling, joining Nevada, New Jersey and Delaware.
Jul 2018: Belarus to legalize online gambling and the draft legislation also includes a proposal to license and tax online gambling operators.
Online Gambling Market Competitive Landscape
Online Gambling Market Major Key Players are Bet-at-home.com, Bwin.Party, 888 Holdings, Ladbrokes, BetAmerica, TVG, Camelot, Paddy Power, Pala Casino, Twinspires, Watch and Wager, and Sportech
Reasons to Purchase Online Gambling Market Report
Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
3-month analyst supports, along with the Market Estimates sheet in excel
Customization of Online Gambling Market Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
Increasing Legalization of Online Gambling to Drive the Online Gambling Market Growth
Low risk of carrying money and increasing attraction of consumers towards online sport betting is providing opportunity for the market growth during the forecast period. In some regions, there has been minimal growth of the market due to the strict government regulations, which become a huge constraint for existing players to explore new market to expand consumer base. In recent time, online gambling is witnessing significant growth, especially in countries from North America and Europe region; certain states in the US are allowing legal online gambling in recent time period. For instance, Pennsylvania, New York, Kentucky, and Lowa are four major US states which have legalized online gambling. This factor is playing key role to drive the online gambling market growth in North America region.
Online Casino to Witness Fastest Growth during the Forecast Period
Improved internet penetration have proven to be one of the major drivers for the growth of online gambling market along with mobile and live gaming that have had a profound impact on operators. Introduction of advance technologies such as Chatbots, machine learning and AI are creating significant impact on the growth of online gambling market. Additionally, adaptation of virtual reality gaming for online gambling is likely to change the market dynamics in the upcoming years. Sports betting, on the other hand is likely to witness the significant market growth as it is popular in developed countries. For instance, Kentucky is one of the most recent states to join the sports betting legalization. Kentucky is horse racing capital is introducing two bills that would influence the growth for sport betting from offline and online gambling platforms.
North America to Witness Significant Growth Rate during Forecast Period
Globally, more than 84 nations have legalized online gambling which is the main factor to support the market growth during the forecast period. Europe holds the significant market share in online gambling as more than half of the countries who legalized the online gambling are from Europe region. Many of European countries are also legalizing online betting in recent time period. For instance, Netherlands adopts new online gambling regulations. In the US, local gambling regulatory authorities to decide which poker operators were to be allowed to apply for online gambling licenses which is retaining the market growth in North America. For instance, one of the biggest providers of online poker services, PokerStars, failed to get the licensed as local casino argued that the operator had previously violated the Unlawful Internet Gambling Enforcement Act.
Key Developments in the Online Gambling Market
Jul 2018: Nine casino owners in Pennsylvania are seeking licenses to operate casino-style gambling online. Pennsylvania last year became the fourth state to legalize online gambling, joining Nevada, New Jersey and Delaware.
Jul 2018: Belarus to legalize online gambling and the draft legislation also includes a proposal to license and tax online gambling operators.
Online Gambling Market Competitive Landscape
Online Gambling Market Major Key Players are Bet-at-home.com, Bwin.Party, 888 Holdings, Ladbrokes, BetAmerica, TVG, Camelot, Paddy Power, Pala Casino, Twinspires, Watch and Wager, and Sportech
Reasons to Purchase Online Gambling Market Report
Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
3-month analyst supports, along with the Market Estimates sheet in excel
Customization of Online Gambling Market Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
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