Online Gambling Market Growth Analysis | 2028

Market Insights

The Online Gambling Market was expected to grow from USD 57.36 Billion in 2021 to USD 122.50 Billion by 2028 at a CAGR of over 11.39% during the forecast period.

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What is Online gambling?

Online gambling, also referred to online betting or internet gambling consists of a wide range of online games. It refers to any kind of gambling conducted on the internet. The players can participate in bets related to live sports or other related events to win prizes or money. It includes virtual poker, sports betting, and casinos. Online betting platforms, mobile applications, and websites are gaining popularity across the globe.

Key Players

Key players operating in the global online gambling market are-

• William Hill PLC (UK),
• Bet365 Group Ltd. (UK),
• Paddy Power Betfair PLC (Ireland),
• Betsson AB (Sweden),
• Ladbrokes Coral Group PLC (UK),
• The Stars Group Inc. (Canada),
• 888 Holdings PLC (UK),
• Sky Betting & Gaming (UK),
• Kindred Group PLC (Malta), and
• GVC Holdings PLC (UK).

Market Dynamics

The growing use of mobile phones and high internet penetration among individuals for playing online games from public places and homes, which is one of the key drivers.

• Some factors such as legalization and cultural approval, easy access to online gambling, celebrity endorsements, and corporate censorships also propel market growth.
• The rising availability of cost-effective mobile applications around the world is likely to offer lucrative opportunities to the market players.
• However, signal manipulation through fake apps and app-based hacking are some of the restraining factors affecting the industry expansion.

Segment Analysis

Type Trends

Based on type, the global online gambling market has been categorized into sports betting, casinos, poker, bingo, others.

• Among these, the sports segment witnessed the largest market share in 2021 owing to rising use of digital platforms among consumers.
• Further, growing purchasing power in Asia Pacific further led to increasing spending capacity in online betting in sports, resulting in segment growth.

Regional Trends

By region, the Europe market held the highest market share in 2021 and is estimated to register a robust CAGR during the review period.

• This is majorly attributed to the legalization of gambling in various countries such as Germany, Spain, Germany, Malta, and Italy.
• Favourable factors such as increasing popularity of online casinos, availability of high-speed internet, and rising use of smart phones further boosts the regional growth.
• Also, the Gambling Act 2005 imposed up by the U.K. Gambling Commission (UKGC) has allowed the companies to advertise their gambling sites, which is also accelerating the growth of the market in Europe.

COVID-19 Impact on Global Online Gambling Market

The COVID-19 pandemic is likely to favourably impact market growth. To curb the spread of the virus, countries worldwide are imposing restrictions and are promoting social distancing measures. Strict restrictions on the movement of people are further expected to negatively impact land-based casino operations.

Thus, many players are now shifting towards online gambling. However, the cancellation of major sports events around the world is further affecting sports betting, thus hindering market expansion.

Critical Questions Answered in the Report

• What are the key trends in the global online gambling market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of COVID-19 on the global online gambling market?
• What are the key strategies adopted by the major vendors to lead in the global online gambling market?
• What is the market share of the top vendors?

Target Audience

Here is the list of the group of customers that the online gambling market hopes to have the greatest opportunity to convert-

• Online gambling companies
• Casinos
• Sport betting companies
• Land-based gambling companies
• Poker companies

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