“According to the research report published by Polaris Market Research, the Global Online Gambling Market Size Is Expected To Reach USD 205.60 Billion By 2030., at a CAGR of 12.0% during the forecast period.”
Overview
Online gambling can involve betting on casinos or sports over the internet. Normally credit cards are used to place the bet, and wins or losses are enjoyed. Online gambling includes poker, horses, slots, blackjack, roulette, and sports betting.
The growing use of mobile phones among users for playing online games in public places and in their homes, in addition to rising internet penetration, is pushing the market. Additionally, cultural and legal approval, easy access to gambling online, celebrity endorsements, and corporate sponsorships are also boosting the market growth.
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The Major Players Covered in the Report are:
- 888 Holdings PLC
- Bet365 Group Ltd.
- Betsson AB
- Entain
- Kindred Group PLC
- Ladbrokes Coral Group PLC
- Paddy Power Betfair PLC
- Sky Betting & Gaming
- The Stars Group Inc.
- William Hill PLC.
Sample Report Includes
- Market Overview
- Industry segmentation
- Growth Trends
- Graphical Representation of Size, Share, and Trends
- List of Table & Figures
- Investment opportunities
- Regional Analysis
- Cost structure analysis
- Competitive landscape
- Industry drawbacks & challenges
- Facts and Factors Methodology
- Value Chain and Sales Analysis
- Market Forecast
Online Gambling Market: Growth Drivers
Increasing internet penetration to push the market
The internet has become a universal communication medium and facilitates merchants to provide their offerings in the digital marketplace. Due to growing smartphone and internet penetration, the consumption of services on virtual platforms has increased. The rising use of the internet has sanctioned online casinos to thrive. Additionally, factors like an increasing number of online gambling applications, online betting offers, and growth in disposable income of consumers are likely to encourage online gambling industry expansion.
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Gambling has been legalized by several countries globally owing to employment opportunities and more tax revenue for local and state governments. Gambling has also positively impacted local retail sales for the hospitality sector in areas where casinos act as a part of tourist vacations consequently propelling the growth of the market rapidly.
Geographic Overview: Online Gambling Market
Gambling legalization in Europe to make it a dominating force and propel the market
Geographically, Europe dominated the global market with the highest shares. The vast market share of the region can be credited to the legalization of gambling in several countries, such as Germany, Italy, Malta, and France. The Gambling Act of 2005, established by the UKGC, also allows companies to advertise their gambling sites. The growing popularity of online casinos is highly contributing to the online gambling market share in the region.
Moreover, North America is expected to observe increasing growth over the coming years. The growing regularization of the industry across several regional countries is anticipated to drive online gambling industry growth. In the US, the legislative framework only permits licensed bookmakers in New Jersey, Nevada, and Pennsylvania to function legally, as betting is regulated in these states.
Online Gambling Market: Report Segmentation
Insight By Type
The growing spending capacity of the population to drive the market
Based on type, the sports betting segment accounted for the largest share in online gambling market. The demand for online gambling ever-increasing popularity of digital platforms globally is expected to drive the segment’s growth. The growing spending capacity of the population in emerging nations on account of increasing per capita income is anticipated to contribute to the segment growth.
Key Players
Few major players operating in the global market include 888 Holdings PLC, Bet365 Group Ltd., Betsson AB, Entain, Kindred Group PLC, Ladbrokes Coral Group PLC, Paddy Power Betfair PLC, Sky Betting & Gaming, The Stars Group Inc., and William Hill PLC.
Recent Developments
In 2021, DraftKings Inc. and Golden Nugget Online Gaming Inc. agreed to an all-stock deal in which DraftKings will acquire Golden Nugget Online Gaming. Due to the acquisition, DraftKings gained access to Golden Nugget’s well-known brand, iGaming product experience, and combined database of more than 5 million consumers.
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Online Gambling Market: By Type Outlook
- Sports Betting
- Casinos
- Poker
- Bingo
- Others
Online Gambling Market: By Device Outlook
- Desktop
- Mobile
- Others
Online Gambling Market: By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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