USD 56.78 billion
Global Online Gambling Market Size, Share, Growth Analysis, By Type(Sports Betting, Casinos), By Devices(Desktop, Mobile) - Industry Forecast 2024-2031
Report ID:
SQMIG45E2196 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
66 |
Figures:
74
Global Online Gambling Market Insights
Online Gambling Market size was valued at USD 56.78 billion in 2019 and is poised to grow from USD 63.53 billion in 2023 to USD 153.57 billion by 2031, growing at a CAGR of 11.7% in the forecast period (2024-2031).
The growing use of mobile phones for online gaming in public places as well as at home, combined with rising internet penetration, is propelling the Online Gambling market. Furthermore, cultural and legal acceptance, easy access to online gambling, celebrity endorsements, and corporate sponsorships are boosting Online Gambling market growth. Due to widespread availability of low-cost mobile applications, the Online Gambling market is expected to grow further.
Improvements in the digital space are occurring in tandem with the annual expansion of online casinos, and these enhancements are aimed at achieving the desired trust in the online betting sector. In gambling, for example, virtual reality (VR) generates a simulation of the surroundings; users can interact with them in real time using special equipment such as gloves with sensors. VR allows gamblers to interact with other bettors and dealers while also providing a more realistic gambling experience, better sound quality, and realistic game design. By creating new growth opportunities, VR has assisted the Online Gambling market in improving the gambling experience.
US Online Gambling Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Sports Betting
Fastest Growth
Sports Betting
Growth Rate
11.7% CAGR
Global Online Gambling Market ($ Bn)
Country Share for North America Region (%)
Global Online Gambling Market By Type ($ Bn)
Global Online Gambling Market By Type (%)
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Global Online Gambling Market Segmental Analysis
The global online gambling market is segmented based on the type, devices and region. Based on the type, Online Gambling market is segmented into sports betting, casinos, poker, lottery, bingo, and others. Based on devices, Online Gambling market is segmented into desktop, mobile, and others. Based on region Online Gambling market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Online Gambling Market Analysis by Type
The global online gambling market is segmented based on type into sports betting, casinos, poker, lottery, bingo, and others. During the forecast period, sports betting is expected to dominate the Online Gambling market. The growing popularity of online gaming and betting practises is expected to fuel demand for sports betting. Additionally, rising sponsorships in online sports betting are expected to fuel this segment. Because of the multi-tiered taxation environment in the casino industry, casinos are expected to grow rapidly during the forecast period. Furthermore, the growing popularity of remote gambling is expected to drive online betting demand. The demand for online lotteries and their distribution is growing. The Online Gambling market is expected to be driven by rising per capita income, technological adoption, and interest in draw-based games.
Global Online Gambling Market By Type, 2023 (%)
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Global Online Gambling Market Regional Insights
The global online gambling market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America region dominates the global Online Gambling market in 2021. The market is expected to be dominated by Europe. Key players' presence in the region is expected to drive Online Gambling market growth over the forecast period. Furthermore, Europe's rich sporting history, as well as the region's widespread presence of sports-obsessed fans, are propelling Online Gambling market growth. Several European sports fans are heavily investing in online sports betting sponsorship. For example, to maintain customer relationships, William Hill Plc. and Caesars Entertainment, Inc. signed a National Football League (NFL) team sponsorship in October 2020. In terms of revenue share, North America is second in the Online Gambling market. Demand in the region is expected to be driven by rising digitalization and secure mobile solutions. Three states in the United States, namely Nevada, Pennsylvania, and New Jersey, have gambling regulations, which are driving demand for sportsbooks and betting apps.
Global Online Gambling Market By Region, 2024-2031
- Largest
- Fastest
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Global Online Gambling Market Dynamics
Online Gambling Market Driver
- The increasing use of digital and mobile payments has simplified payment procedures for users and online players. Furthermore, online payment facilities provide a secure and safe mode of transaction, increasing their acceptance in the online gaming industry. Furthermore, the more straightforward and convenient payment methods increase player participation in the gambling industry.
- The convenience of remote payments opens up new avenues for online gamblers to promote and drive cash flow in the business. Visa Inc. and MasterCard, for example, provide secure debit and credit payment options for online casino accounts. E-wallet services for online gambling are also provided by companies such as PayPal and Neteller. Furthermore, Neteller offers transactions in 26 currencies with no transaction fees. As a result, the availability of secure digital payment platforms is increasing.
Online Gambling Market Restrain
- The increasing popularity of internet-based gambling among users is having a negative impact on their mental health. The increasing addiction to easily accessible internet-based gambling platforms makes it difficult for the user to maintain mental balance. Suicides are on the rise as a result of this addiction. Following an increase in cases of increasing gambling debts in 2020, the Tamil Nadu State Government banned gambling websites. Pathological gambling, also known as compulsive gambling, is one of the other addictive gambling effects. Long-term effects of this type of gambling could result in chronic stress and hypertension.
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Global Online Gambling Market Competitive Landscape
The online gambling industry is highly fragmented, with regional and global players. To expand their market presence and enhance their brand portfolio to cater to consumer preferences, major players are focusing on mergers and acquisitions, partnerships, and product innovations. In the online gambling market, merger and acquisition is the most preferred strategy, followed by expansion. Offerings, quality of gambling content, user experience, brand equity, personalised payoffs, and access to various platforms are all factors that key players compete on. Manufacturers have an advantage in expanding their product range globally due to their advanced distribution network and manufacturing expertise.
Online Gambling Market Top Players Company Profiles
- William Hill Plc.
- Paddy Power Betfair
- GVC Holdings
- 888 Holdings
- Kindred Group Plc.
- Stars Group
- Ladbrokes Coral Group
- Betsson AB
- Flutter Entertainment
- The Rank Group
- Bet-at-home.com
- DraftKings
- FanDuel
- MGM Resorts International
- Caesars Entertainment
- Golden Nugget Online Gaming
- PointsBet
- 1xBet
- Betway
Online Gambling Market Recent Developments
- In September 2021, LeoVegas Group has introduced a new layer of AI-powered messaging in order to expand the Group's Safer Gambling offering. Customers in the United Kingdom will be the first to receive onsite messages that educate and provide information on safer gambling based on their behaviour and risk profile.
- In July 2021, FanDuel Group, a subsidiary of Flutter Entertainment PLC, has launched FanDuel Casino in New Jersey and Michigan. Customers can now play live dealer blackjack, roulette, and baccarat at FanDuel Casino.
- In March 2021, Entain PLC's BetMGM brand announced a multi-year agreement with Audacy, formerly Entercom Communications Corp., designating the market-leading sports betting and gaming platform as Audacy's preferred sports betting partner across the Audacy and Bet QL apps and digital platforms, as well as the "BetQL Audio Network.
Global Online Gambling Key Market Trends
- Virtual gambling companies are investing heavily in new technologies to improve the user experience. In the mobile gambling industry, artificial intelligence (AI) plays a significant role in introducing new features and functions. AI is being used by application and website developers to improve the customer experience. AI integration with these systems aids in the analysis of the user's gaming interests and behavior. This aids in suggesting games that are relevant to the players' interests, thereby improving the customer experience.
- AI can aid in the detection of potential addiction issues and negative patterns in user behavior. Many developers are incorporating AI to provide preventive measures for gambling addiction. For example, Bet Buddy Limited, a responsible gambling analytics platform provider, used artificial intelligence to track users' digital footprints and detect problematic gamblers. For reporting such behavior, the company provides personalized statements to players and the operator. As a result, the adoption of AI is likely to boost Online Gambling market growth.
Global Online Gambling Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global online gambling market analysis, Payment options have become more convenient for consumers and online players as mobile and online payment gateways have grown in popularity. The online gaming industry accepts online payment as a safe and secure mode of transaction. This factor is fueling the expansion of the online gambling market. The online betting segment is primarily growing in conjunction with the online sports category, particularly in football events such as the FIFA World Cup and European Championships. Many online sports betting companies sponsor various teams as part of their marketing initiatives as a result of acquiring or merging with several companies for strategic expansions. DraftKings Inc. and Golden Nugget Online Gaming Inc. entered into a definitive agreement in August 2021 for DraftKings to acquire Golden Nugget Online Gaming in an all-stock transaction.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 56.78 billion |
| Market size value in 2031 | USD 153.57 billion |
| Growth Rate | 11.7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Online Gambling Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Online Gambling Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Online Gambling Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Online Gambling Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Online Gambling Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Online Gambling Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Online Gambling Market Report Snapshots
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