Dublin, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The "Global Online Gambling Market - Market Size & Forecast to 2032" report has been added to ResearchAndMarkets.com's offering.
The global online gambling market, standing at a commendable USD 65.2 billion in 2023, is projected to grow at a CAGR of 12.8% from 2023 to 2032. This growth can be attributed to several factors ranging from the sweeping wave of legalization to the rise in smartphone and internet penetration.
Key Insights:
- Nature of Online Gambling: Online gambling is essentially any form of gambling activity conducted via the Internet. It encompasses a wide array of activities, be it sports betting, online poker, or various other games of chance.
- Growth Catalysts:
- Legalization: The transition from illicit to legitimate, as seen with Maine's legalizing of sports betting in May 2022, has given impetus to the online gambling market.
- Technological Advancements: The rise in smartphone usage and internet accessibility has played a pivotal role in expanding the online gambling user base.
- Endorsements: The backing of corporate sponsorships and celebrity faces has infused trust and interest in the market.
- Market Segmentation: The online gambling market can be primarily categorized based on:
- Type: It spans across poker, casino, sports betting, and lottery. Each of these categories has sub-categories, like the various forms of poker (7 card stud, Omaha) or the different types of casino games (slots, blackjack, roulette).
- Device: The market can be divided into desktop, mobile, and others, with a noted preference for the former two due to the convenience they offer.
- Region: Europe, having the lion's share, is followed by regions like North America, Asia Pacific, Africa, and South America.
- Regional Analysis:
- Europe: Being the reigning king of the online gambling market, it owes much of its success to the lax laws in countries like the UK, France, and Germany. The UK, in particular, has seen a surge in online gaming service providers.
- Asia Pacific: This region holds immense growth potential, with factors like increased smartphone adoption and internet connectivity acting as growth accelerators.
- Market Dynamics:
- Drivers: The primary driver remains the legalization of online gambling.
- Restraints: The looming shadow of potential data security breaches acts as a market restraint.
Notable Players:
Some of the heavyweights in the online gambling market include Betsson Ab, Bet365, Casino International (Roar), Caesars Entertainment, Draftkings Inc., Entain plc, Flutter Entertainment plc, and many more. These companies, hailing from various parts of the world, contribute significantly to the market's dynamism and growth.
Notable Players:
- Betsson Ab (Sweden)
- Bet365 (UK)
- Casino International (Roar) (US)
- Caesars Entertainment (US)
- Draftkings Inc. (US)
- Entain plc (Isle of Man)
- Flutter Entertainment plc (Ireland)
- 888 Holdings (Gibraltar)
- Light & Wonder, Inc.(US)
- Ladbrokes Coral Group plc (Uk)
- Las Vegas Sands Corporation (US)
- Ladbrokes Coral Group plc (UK)
- Penn National Gaming (US)
- Sugarhouse Casino (US)
- Score Media and Gaming Group (Canada)
- Sky Betting and Gaming (UK)
- Kindred Group plc (Malta)
- William Hill (UK)
- Wynn Resorts Holdings (US)
Conclusion:
The global online gambling market is on an upward trajectory, fueled by technological advancements, supportive legislation, and increasing global connectivity. While Europe continues its dominance, emerging markets like the Asia Pacific hold significant growth promise. However, like any other digital industry, online gambling needs to ensure robust data security to gain and maintain the trust of its users.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 258 |
| Forecast Period | 2019 - 2032 |
| Estimated Market Value (USD) in 2019 | $40.33 Billion |
| Forecasted Market Value (USD) by 2032 | $192.37 Billion |
| Compound Annual Growth Rate | 12.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/2f8tt9
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