Online Gambling Market Size Expected to Grow at a CAGR over 9.83% from 2024 to 2032

Market Research Future has published a Half-Cooked Research Report on the Global Online Gambling Market.

Market Synopsis

As per the analysis by Market Research Future Reports (MRFR), the global online gambling market is estimated to value USD 172.5 Billion, with a CAGR of 9.83% during the review period. However, there has been a change in the global online gambling market 2024 due to the outbreak of COVID-19. We will provide COVID-19 impact analysis with report. As per the analysis, the traffic of gambling resources has elevated by 10 to 15%. The online gambling market increased significantly in March 2022. Online gambling has resulted in being a substantial revenue-generating resource for governments. Some of the countries have decided to take advantage of the booming popularity of online gambling platforms. For example, Belarus officially announced to make online gambling legal. However, the market experienced a downfall in April due to the implementation of strict online gambling rules.

Online casinos and poker are some of the most popular games in the online gambling market. With the rapid advancement in mobile apps and the Internet of Things (IoT), the online gambling market has shown a significant expansion concerning the number of users. Because of seamless internet connectivity, online gambling platforms have started functioning efficiently. This factor has assisted in augmenting the expansion of the market. Online gambling companies are spending enormously to innovate the platform.

Market Segmentation The global online gambling market can be segregated on the basis of device type, end-user, game type, and regions.

On the basis of device type, the global online gambling market can be classified into mobile and desktop.

On the basis of end-users, the global online gambling market can be classified into social exuberant, gambling enthusiasts, and dabbles.

On the basis of game type, the global online gambling market can be classified into the casino, betting, poker, online bingo, lottery, and others.

On the basis of region, the global online gambling market can be classified into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.

Regional Analysis

The geographical analysis of Asia-Pacific, North America, Europe, the Middle East & Africa, and South America has been conducted. As per the analysis by the MRFR, Europe dominates the global market in terms of market share since the companies established in the region are technically advanced. Besides that, governments of the region have implemented supportive rules and regulations, which further propels the market. Additionally, the largest global online gambling companies are situated in the European region. On the other hand, the APAC region is estimated to record the highest CAGR during the forecast period. There has been sudden popularity of mobile gambling and an increase in foreign investment, which further propels the APAC market.

However, there has been a change in market dynamics due to the outbreak of COVID-19. The countries which have benefitted during the pandemic are Spain, Italy, the Philippines, the US, India, and Georgia.

Key Players

The forefront players of the global online gambling market are The Stars Group (Canada), International Game Technology PLC (US),  Betsson AB (Sweden),  Net Entertainment (Sweden), Kindred Group Plc (Malta), Paddy Power Betfair PLC (Ireland), Ladbrokes Betting & Gaming Ltd.(UK), 888 Holdings PLC (UK),  Bet-at-home.com (UK),  Betfair Group plc. (UK), Bwin. Party Digital Entertainment (Austria), William Hill Plc (UK), bet365 (UK), Scientific Games (US), VGC Holdings PLC (Isle of Man), Betway (Europe), Spin Inc. (US), and Royal Panda (Europe).

Industry News

May 2020

The Ukrainian court has ordered internet service providers (ISPs) to block access to 59 online gambling websites based on the evidence provided by the Security Service of Ukraine (SBU).