Global Online Gambling Market Size to Grow at a CAGR of 11.40% to Reach a Value of 122.84 Billion by 2028
The ‘Global Online Gambling Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global online gambling market, assessing the market based on its segments such as type, device, and major regions.
Online Gambling Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 64.27 Billion
• Forecast CAGR (2023-2028): 11.40%
• Forecast Market Size (2028): USD 122.84 Billion
The online gambling market is flourishing rapidly owing to technological advancements and wide network penetration. The wide availability of smartphones and other devices has enabled the end-user to gamble conveniently and comfortably in their own home.
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The massive number of fans of a sport is a major factor that is aiding the expansion of the market. People are willing to pay large amounts of money and bet on their favourite teams and players. This scenario is supported by the great level of accessibility achieved through utilising advanced technologies and secure payment modes.
Among the regions, Europe is expected to hold a significant share of the market due to the presence of a strong and large sports fan base across the region. The development of the market in this region is also significantly enhanced by the presence of major market layers including
Online Gambling Industry Definition and Major Segments
The term online gambling includes casinos, poker, and sports betting that are conducted over the internet. These services are enabled by web-based platforms and its is very similar to playing in casinos. These platforms have experienced huge development during recent years owing to their easy accessibility.
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The segments of the market, based on type, include:
• Sports Betting
• Casinos
• Poker
• Bingo
• Others
Based on the device, the market divisions include the following:
• Desktop
• Mobile
• Others
Based on region, the market for online gambling market can be segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Online Gambling Market Trends
The companies are focused on providing enhanced user experience and to do so market players are heavily investing in the implementation of artificial intelligence in their gambling platforms.
In the mobile sector, artificial intelligence (AI) is a major contributor to new features and capabilities. In order to give customers a better experience, application and website developers are implementing AI.
Additionally, AI can assist in identifying potential addiction issues and bad trends in user behaviour. A lot of developers are incorporating AI to provide proactive approaches to treating gambling addiction.
The desktop sector currently holds the highest market share due to the enormous screen size of monitors available for the players, when compared to other devices. The advanced monitors offer greater visuals alongside better sound quality. In the upcoming years, this is anticipated to further contribute to the development of the online gambling market.
Key Market Players
The major players in the online gambling market report include
• bet365
• Flutter Entertainment plc
• 888 Holdings Plc
• Kindred Group plc
• Entain plc
• WHG (International) Limited
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyzes the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.
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