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NEW YORK, Aug. 9, 2022 /PRNewswire/ — The YOY Growth rate of 2022 for the ONLINE GAMBLING MARKET is estimated at 11.82%. 37% of the market’s growth will originate from APAC during the forecast period. The online gambling industry has grown exponentially since the inception of the first online casino. It has evolved from an early adopter to a multi-billion-dollar market globally due to the introduction of new technologies, such as VR, and the penetration of the internet, providing a wide range of access to online gambling activities to consumers. Additionally, the advent of mobiles and the demand for mobile gaming are expanding the market reach and have generated new revenue streams for vendors. Also, various governments have eased their regulations on gambling, which has created new opportunities for vendors. Furthermore, advancements in technology have been one of the main drivers in the online gambling sector, including Internet accessibility, increasing availability of mobile devices, and live gaming. Advanced technology, such as the use of chatbots, machine learning, and artificial intelligence, are all improving the online gambling service and experience.
Browse summary of the 149 page ONLINE GAMBLING MARKET report for competitive benchmarking insights
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Online Gambling Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 11.05% |
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Market growth 2022-2026 |
$142.38 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
11.82 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 37% |
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Key consumer countries |
US, Canada, China, UK, and Germany |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
888 Holdings Plc, Bet365 Group Ltd., BetOnline, Betsson AB, Camelot UK Lotteries Ltd., Entain Plc, Flutter Entertainment Plc, Fortuna Entertainment Group as, Galaxy Entertainment Group Ltd., INTRALOT SA, Kindred Group Plc, LeoVegas AB, MGM Resorts International, New York State Gaming Commission, Scientific Games Corp., Sportech Plc, The Betway Group, The Stars Group Inc., William Hill Plc, and Winamax |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Browse for Technavio “CONSUMER DISCRETIONARY MARKET“Research Reports
The outbreak of COVID-19 had a strong influence on the online gambling market in North America. Due to the outbreak in 2020, traditional casinos and gambling places such as taverns, breweries, horse racing, bingo halls, and lottery stores were closed, to prevent the spread of the virus. As a result, the vendors were compelled to conduct businesses through online platforms. Therefore, the online gambling market in this region experienced a rise in growth due to the adoption of online platforms during this period.
- One of the key factors driving growth in the online gambling market is the increasing penetration of smartphones. Smartphone penetration is increasing because of the declining average selling price (ASP) of smartphones and the developments in communication network infrastructure.
- Smartphones provide a convenient and intuitive interface for playing casino games and e-sports. Smartphone users engage extensively with their mobile devices on an intermittent basis, for short to long periods of time.
- This can be substantiated from the fact that the number of hours spent by smartphone users globally increased from approximately 2 hours to 3 hours and 30 mins during 2014-2018. Thus, users are rapidly shifting from desktop to mobile devices for playing casino games.
For more insights on the latest drivers, trends, and challenges that will help companies evaluate and develop growth strategies. REQUEST FREE SAMPLE REPORT (INCLUDING GRAPHS & TABLES) OF THIS MARKET
- Lottery – size and forecast 2021-2026
- Betting – size and forecast 2021-2026
- Casino – size and forecast 2021-2026
- Desktop – size and forecast 2021-2026
- Mobile – size and forecast 2021-2026
The online gambling market share growth by the desktop segment will be significant during the forecast period. The desktop segment in the global online gambling market is likely to experience stagnant growth during the forecast period. Desktops have become traditional devices and are largely being replaced by mobile devices. However, online gambling on desktops still holds the largest share of the market. One of the key reasons is that desktop devices offer a better experience as they have bigger display screens compared with mobile devices.
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