Casino industry trends
Online Gambling Market Size
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Share
Study Period | - |
Market Size () | USD Billion |
Market Size () | USD Billion |
CAGR ( - ) | % |
Fastest Growing Market | North America |
Largest Market | Europe |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Online Gambling Market Analysis
The Online Gambling Market size is estimated at USD billion in , and is expected to reach USD billion by , growing at a CAGR of % during the forecast period ().
Nowadays, a large portion of the global population has access to the Internet. According to the International Telecommunication Union (ITU), the number of internet users globally was 5, million in This represents one of the primary factors behind the immense popularity of online gambling services worldwide. The increased penetration of smartphones further leads to an increase in several mobile application-based lottery games as they provide end-users the convenience and comfort of gambling within their own space. Casino gambling has been one of the rapidly growing gambling categories, owing to the convenience of usage and optimal user experience. To meet different player interests, online gambling platforms provide various games, such as slots, poker, and sports betting.
Sports betting is popular in the Asia-Pacific region. Moreover, there has been a rise in the popularity of draw-based and scratch-off instant games, especially across European countries, which positively impacts the growth of the market studied. Online gambling gross win in Europe was EUR billion in , according to the European Gaming & Betting Association. With the advent of virtual reality and blockchain, various companies are focusing on advancing innovative platforms to cater to the requirements and needs of customers and achieve a competitive edge in the market. For instance, in July , Kindred launched a proprietary tech platform in Pennsylvania, United States. The company offers access to Unibet Casino and Sportsbook apps on the Kindred platform.
Online Gambling Market Trends
Various Sponsorships and Convenient Payment Options Driving the Market
The increased penetration of mobile phones, the Internet, and convenient online payment gateways have made online gambling services easily accessible. Moreover, online betting is predominantly rising in the online sports category, especially in football events like the FIFA World Cup and the European championships. Many online sports betting companies are sponsoring different teams as a part of their marketing strategy and acquiring or merging with several companies for strategic expansions, for instance, in September , thisisnl.nl signed a sponsorship agreement with the Argentine Football Association.
The Argentine team had thisisnl.nl's support during the FIFA World Cup matches in Qatar. Operators of online casinos also sponsor films, television programs, or streaming content to promote their brands and attract viewers. Major athletic events, such as football championships and horse racing contests, are ideal platforms for online gambling businesses to advertise and attract sports bettors. For instance, in December , leading global online betting and gaming brand Betway signed a multi-year title sponsorship with SA20, a Twenty20 franchise cricket tournament in South Africa.
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North America is the Fastest-Growing Market
The current legislative framework for online betting in the United States allows only bookmakers licensed in Nevada, Pennsylvania, and New Jersey to operate legally, as these are the three states where online betting is regulated. Pennsylvania is the fourth and biggest state to legalize and regulate online gambling. New Jersey has various types of online casinos, sportsbooks, and sports betting apps. New Jersey's Division of Gaming Enforcement oversees and holds New Jersey's online gaming sites.
It handles site licensing, tax revenue collection, and game testing and approval. New Jersey is the largest market for regulated online gambling in the United States. Canada is an unregulated country in terms of online gaming. Mexico is reviewing its gambling laws, intending to regulate the online gambling sector to align with the rest of the region's gambling industry. Therefore, the increasing regularization of online gambling in North American countries and their respective states is expected to drive the market further.
Technology advancements, such as augmented reality (AR) and virtual reality (VR), are incorporated into online gaming experiences to increase player engagement. Mobile gambling has increased dramatically due to the widespread use of smartphones and tablets, which enable bets to be placed at any time and almost anywhere. For instance, the number of mobile phone users in Mexico was million in , according to the National Institute of Statistics and Geography.
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Online Gambling Industry Overview
The online gambling market is highly fragmented and comprises regional and global players. Key players such as Bet, Entain PLC, Holding PLC, Flutter Entertainment PLC, and Kindred Group PLC dominate the market. Major players are focusing on mergers and acquisitions, partnerships, and product innovations to expand their presence in the market. They also compete on various factors, including offerings, quality of gambling content, user experience, brand equity, personalized payoffs, and access to multiple platforms. Apart from this, advanced distribution networks and manufacturing expertise give an upper edge to players to expand their range of products globally.
Online Gambling Market Leaders
Flutter Entertainment PLC
Entain PLC
Bet
Kindred Group PLC
Holding PLC
*Disclaimer: Major Players sorted in no particular order
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Online Gambling Market Report - Table of Contents
1. INTRODUCTION
Study Assumptions and Market Definition
Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
Market Drivers
Aggressive Advertisement And Promotional Activities
Advancement In Security, Encryption, And Streaming Technology
Market Restraints
Regulatory and Legal Challenges
Porter's Five Forces Analysis
Threat of New Entrants
Bargaining Power of Buyers/Consumers
Bargaining Power of Suppliers
Threat of Substitute Products
Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
Game Type
Sports Betting
Football
Horse Racing
Tennis
Other Sports
Casino
Live Casino
Baccarat
Blackjack
Poker
Slots
Others Casino Games
Lottery
Bingo
End User
Desktop
Mobile
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Sweden
Spain
Italy
Rest of Europe
Asia-Pacific
Oceanic Countries
Rest of Asia-Pacific
Rest of the World
South America
Middle East and Africa
6. COMPETITIVE LANDSCAPE
Strategies Adopted by Players
Market Share Analysis
Company Profiles
Betsson AB
Holdings PLC
Kindred Group PLC
Entain PLC
Bet
Flutter Entertainment PLC
22bet
Mgm Resorts International
Draftkings Inc.
Super Group (sghc Limited)
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Subject to Availability
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Online Gambling Industry Segmentation
Online gambling is typically betting on casino or sports-type games over the internet. The online gambling market is segmented by game type, end user, and geography. Based on game type, the market is segmented into sports betting, casino, lottery, and bingo. Sports betting is further segmented into football, horse racing, tennis, and other sports. Casino is further segmented into live casino, baccarat, blackjack, poker, slots, and other casino games. Based on end users, the market is segmented into desktop and mobile. The market is segmented based on geography into North America, Europe, Asia-Pacific, and the Rest of the World. The market sizing has been done in value terms in USD for all the abovementioned segments.
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Online Gambling Market Research FAQs
How big is the Online Gambling Market?
The Online Gambling Market size is expected to reach USD billion in and grow at a CAGR of % to reach USD billion by
What is the current Online Gambling Market size?
In , the Online Gambling Market size is expected to reach USD billion.
Who are the key players in Online Gambling Market?
Flutter Entertainment PLC, Entain PLC, Bet, Kindred Group PLC and Holding PLC are the major companies operating in the Online Gambling Market.
Which is the fastest growing region in Online Gambling Market?
North America is estimated to grow at the highest CAGR over the forecast period ().
Which region has the biggest share in Online Gambling Market?
In , the Europe accounts for the largest market share in Online Gambling Market.
What years does this Online Gambling Market cover, and what was the market size in ?
In , the Online Gambling Market size was estimated at USD billion. The report covers the Online Gambling Market historical market size for years: , , , and The report also forecasts the Online Gambling Market size for years: , , , , and
Which emerging technologies will shape the future of Online Gambling Market?
The potential of VR/AR, blockchain & artificial intelligence to enhance player engagement & security are the emerging technologies shaping the future of Online Gambling Market.
What are the future growth drivers for the online gambling market?
The future growth drivers for the online gambling market are a) Increasing internet penetration and b) Legalization in new markets
Virtual Gambling Industry Report
The global online gambling market is on an upward trajectory, fueled by increasing internet penetration, mobile phone usage, and cultural acceptance. With advancements like VR and blockchain technology enhancing the user experience, the market spans sports betting, casinos, poker, and bingo, with sports betting leading due to its widespread popularity. Despite facing challenges like mental health impacts and regulatory restrictions, the market is set for significant growth, especially in North America, driven by regulatory changes and technological innovations. The competitive landscape sees key players engaging in strategic mergers and innovations to dominate the market. Statistics for the Online Gambling Market share, size, and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Online Gambling analysis includes a market forecast outlook and historical overview. Get a sample of this industry analysis as a free report PDF download.
Online Gambling Market Report Snapshots
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