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    Online Gambling Market Forecast | 2022-2028

    Online Gambling Market Forecast | 2022-2028
    Report code - SRCG315 Delivery - 2 Weeks
    Online Gambling Market Size, Share, Growth, Industry, and Forecast (2022-2028)
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    Market Insights

    The Online Gambling Market is expected to grow from USD 57.36 billion in 2021 to USD 122.50 billion by 2028 at a healthy CAGR of 11.39% during the forecast period of 2022-2028.

    Online Gambling Market Size (2021-2028)

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    What is online gambling?

    Online gambling, also referred to as 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 living 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.

    Online Gambling Market Features

    Market Size in 2021

    US$ 57.36 Billion

    Market Size in 2028

    US$ 122.50 Billion

    Market Growth by 2022-2028

    CAGR of 11.39%

    Base Year of Study

    2021

    Trend Period

    2017-2020

    Forecast Period

    2022-2028

    Dominant Region

    Europe market held the highest market share in 2021.

    Segments Covered

    By Type (Sports Betting, Casinos, Poker, Bingo, Others)

    By Device (Desktop, Mobile, Others)

    By Region (North America, Europe, Asia-Pacific, and Rest of the World)

    Market Drivers

    The prime factors that are driving the market are –

    • The growing use of mobile phones and high internet penetration among individuals for playing online games from public places and homes.
    • Some factors such as legalization and cultural approval, easy access to online gambling, celebrity endorsements, and corporate censorships.
    • The rising availability of cost-effective mobile applications around the world.
    • However, signal manipulation through fake apps and app-based hacking.

    Online Gambling Market Snapshot

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    Key Players

    Some of the major players in the market are-

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

    Segment Analysis

    Type Trends

    The online gambling market has been categorized into sports betting, casinos, poker, bingo, and others. Among these, the sports segment witnessed the largest market share of >50% of the market in 2021 owing to the rising use of digital platforms among consumers.

    Further, growing purchasing power in Asia-Pacific led to increasing spending capacity in online betting in sports, resulting in segment growth.

    Regional Analysis

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

    Online Gambling Market by Region

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    This is majorly attributed to the legalization of gambling in various countries such as Germany, Spain, Germany, Malta, and Italy.

    Favourable factors such as the increasing popularity of online casinos, availability of high-speed internet, and rising use of smartphones further boost regional growth. Also, the Gambling Act 2005 imposed by the U.K. Gambling Commission (UKGC) has allowed companies to advertise their gambling sites, which is also accelerating the growth of the market in Europe.

    The market is segmented into the following categories. 

    By Type

    • Sports Betting
    • Casinos
    • Poker
    • Bingo
    • Others

    By Device

    • Desktop
    • Mobile
    • Others

    By Region

    • North America (Country Analysis: USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, UK, Italy, and Rest of the Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and the Rest of the Asia-Pacific)
    • Rest of the World (Country Analysis: Middle East and Latin America)

    COVID-19 Impact

    The COVID-19 pandemic is likely to favourably impact market growth. To curb the spread of the virus, countries worldwide are imposing restrictions and 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 toward online gambling. However, the cancellation of major sports events around the world is further affecting sports betting, thus hindering market expansion.

    Report Features

    This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    Report – Features

    Market Segmentation

    03

    Regions Covered

    04

    Countries/Sub-Regions Covered

    14

    No. of Figures & Tables

    >120

    Company Profiles

    10

     

    The following are the key features of the report:

    • Overview, industry life cycle analysis, supply chain analysis
    • Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Trend and forecast analysis.
    • Segment trend and forecast.
    • Competitive landscape and dynamics: Market share, product portfolio, Technology launches, etc.
    • Attractive segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. 

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. 

    We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Target Audience

    The following is a list of the customers that the market aims to convert the most:

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

    Customization Option

    Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: 

    Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    Online gambling, also referred to as 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 living 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.

    The market was expected to grow from USD 57.36 billion in 2021 to USD 122.50 billion by 2028.

    The market is expected to grow at a CAGR of 11.39% during the forecast period.

    Some of the major players in the 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).

    The Europe market held the highest market share in 2021.

    The growing use of mobile phones and high internet penetration among individuals for playing online games from public places and homes 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 industrys expansion.