According to the report, the global online gambling market size attained a value of nearly USD 64.27 billion in 2023. Aided by the accelerated adoption of digital platforms and the increasing legalisation of online gambling across various countries, the market is further expected to grow at a CAGR of 11.40% during the forecast period of 2024-2032 to attain a market size of about USD 189.18 billion by 2032.
Online gambling, encompassing sports betting, casino games, poker, and various other gaming forms, has witnessed a surge in popularity due to its convenience, accessibility, and the diverse range of options it offers. The proliferation of internet services and the growing use of smartphones have significantly contributed to the accessibility and popularity of online gambling platforms.
One of the primary drivers of the online gambling market growth is the increasing digitalisation of the gambling industry. Traditional gambling venues are progressively expanding their operations online, thereby broadening their customer base and enhancing user experience with innovative technology. The integration of live streaming with online betting, virtual reality casinos, and the use of blockchain for secure and transparent transactions are some examples of technological advancements propelling the market growth.
Another significant factor contributing to the online gambling market demand is the evolving regulatory landscape. Several countries are revising their gambling laws to include provisions for online gambling, thereby creating a more structured and safer environment for consumers. This regulatory shift is not only legitimising online gambling but also helping in curbing illegal gambling activities.
The variety of gaming options available online is a substantial draw for consumers. From traditional casino games like blackjack and roulette to sports betting on global events, online platforms cater to a wide array of interests and preferences. The introduction of esports betting has further influenced the online gambling market outlook, tapping into a younger demographic and expanding the consumer base.
The social aspect of online gambling also plays a crucial role in its growth. Many platforms offer interactive features like live dealers, chat rooms, and multiplayer games, creating a community atmosphere that attracts users. This social dimension, combined with the convenience of gambling from home, makes online platforms more appealing than traditional gambling venues.
Online gambling, encompassing sports betting, casino games, poker, and various other gaming forms, has witnessed a surge in popularity due to its convenience, accessibility, and the diverse range of options it offers. The proliferation of internet services and the growing use of smartphones have significantly contributed to the accessibility and popularity of online gambling platforms.
One of the primary drivers of the online gambling market growth is the increasing digitalisation of the gambling industry. Traditional gambling venues are progressively expanding their operations online, thereby broadening their customer base and enhancing user experience with innovative technology. The integration of live streaming with online betting, virtual reality casinos, and the use of blockchain for secure and transparent transactions are some examples of technological advancements propelling the market growth.
Another significant factor contributing to the online gambling market demand is the evolving regulatory landscape. Several countries are revising their gambling laws to include provisions for online gambling, thereby creating a more structured and safer environment for consumers. This regulatory shift is not only legitimising online gambling but also helping in curbing illegal gambling activities.
The variety of gaming options available online is a substantial draw for consumers. From traditional casino games like blackjack and roulette to sports betting on global events, online platforms cater to a wide array of interests and preferences. The introduction of esports betting has further influenced the online gambling market outlook, tapping into a younger demographic and expanding the consumer base.
The social aspect of online gambling also plays a crucial role in its growth. Many platforms offer interactive features like live dealers, chat rooms, and multiplayer games, creating a community atmosphere that attracts users. This social dimension, combined with the convenience of gambling from home, makes online platforms more appealing than traditional gambling venues.
Market Segmentation
The market can be divided based on type, device, and region.Market Breakup by Type
- Sports Betting
- Casinos
- Poker
- Bingo
- Others
Market Breakup by Device
- Desktop
- Mobile
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global online gambling market. Some of the major players explored in the report are as follows:- bet365
- Flutter Entertainment plc
- 888 Holdings Plc
- Kindred Group plc
- Entain plc
- WHG (International) Limited
- Others
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Opportunities and Challenges in the Market16 Key Trends and Developments in the Market
3 Report Description
5 Executive Summary
6 Market Snapshot
8 Global Online Gambling Market Analysis
9 North America Online Gambling Market Analysis
10 Europe Online Gambling Market Analysis
11 Asia Pacific Online Gambling Market Analysis
12 Latin America Online Gambling Market Analysis
13 Middle East and Africa Online Gambling Market Analysis
14 Market Dynamics
15 Competitive Landscape
List of Key Figures and Tables
Companies Mentioned
- bet365
- Flutter Entertainment plc
- 888 Holdings Plc
- Kindred Group plc
- Entain plc
- WHG (International) Limited
Methodology
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