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Online Gambling and Betting Market Size, Industry Analysis Report By Type (Poker, Casino, Social Gaming, Lottery, Bingo, Sports Betting), By Application (Desktop, Mobile, Tab) & Region – Forecasts By 2033

  • PUBLISHED ON
  • 2024-08-10
  • NO OF PAGES
  • 275
  • CATEGORY
  • Retails & Consumer

Market Overview

The Global Online Gambling and Betting Market is cherished to reveal a substantial growth of a CAGR of 11.8% during the forecasted period of 2023 to 2033. The Global Online Gambling and Betting Market was valued at USD 69,059.3 million in 2022 and is estimated to display a gigantic move of USD 1,88,450.98 million by 2033.

Report Scope

Report Attributes

Description

Market Forecast in 2022

USD 69,059.3 million

Market Forecast in 2033

USD 1,88,450.98 million

CAGR % 2023-2033

11.8%

Base Year

2022

Historic Data

2020-2021

Forecast Period

2023-2033

Report USP

Product, end-user industry, company share, company heatmap, company Capacity Technology Product capacity, growth factors and more

Key Companies

GVC Holdings PLC., GSN games, Amaya Inc. (Flutter Entertainment plc), Playtech PLC., Fortuna Entertainment Group, 888 Holdings PLC., Playtika Holding Corp., Betclic Group, Scientific Games Corporation, MGM Resorts International, Kindred Group plc., IGT, Aristocrat Leisure, William Hill PLC., Zynga, Bet365 Group Ltd., Betsson AB, LeoVegas AB, SAZKA a.s, Tabcorp, Others.

Online Gambling and Betting Market- Description

Online gambling and betting is novel phenomenon. Gambling is wagering something of value, with consciousness of undergoing risk of an uncertain outcome, and hope of gaining or wining something of a value. Thus gambling requires three elements consideration, risk, and a prize. Online gambling is administered via internet. This comprises of virtual poker, casinos and sports betting. The first gambling was venue was released to public in October 1994.

Online gambling is an act of placing wager on risk-based games for a chance of winning money. This include Sports matches, casino games and popular card games like poker etc. The online gambling is much safer online betting option as the player does not have to be physically present, yet can be online via several virtual gaming options which are moderated by computer programs. Players can virtually play several games, such as sports betting, poker, blackjack, roulette, slot machines etc. Players can also download their preferred gaming software on their personal computers and play through website.

As these websites are controlled by computer gaming programs, they are secured to do the financial transactions such as winning amount. These gaming sites offer several benefits such as cashless transactions, wide accessibility, tailor-made budget plans and real-time gambling experience for the players.

The recent Covid-19 pandemic has positively impacted the market. Due to the lockdown crisis people were compelled to stick to their homes, as a result of this, there was huge traction for online gaming and betting market. As per the research study done by University of Lund, Sweden, there was a surge in consumers for online gaming platform. Moreover, due to closure of offline gaming establishments, many operators shifted to online platform. Many operators offered various gaming awards and tenders online which positively impacted the market.

Over the predicted timeline the online betting market is expected to show an aggressive growth. Artificial intelligence, Chabot, and machine learning have captivated the market. Rising convenience cashless mode of secured transaction are likely to propel the market. Moreover, operators are creating several fascinating tournament and gaming options to attract new gamers, which is expected to boost the market growth.

Online Gambling and Betting Market: Key Trends

·         Online foot-ball betting is charging the market growth

The online betting is predominantly applied to sports category, specifically in football events such FIFA world cup and European Championship. Several online programmers are sponsoring different teams as a part of their marketing and promotional activities. For example, the brand Bwin, an innovative online sports brand across the Continental Europe accomplished global appreciation from high-profile football sponsorships from clubs, such as Real Madrid and AC Milan.

·         Easy availability of electronic gambling devices with convenient cost is boosting the market

The electronic gambling devices (EGD) are economical in price and easily available. These devices have inbuilt soft wares that mimic like the real time casinos. These devices use advanced technology, that can also be converted to electronic slot machines, spinning reel slot machines, video slot machines, and electronic poker games. This facility is boosting the market.

Covid-19 impact on market

Though the recent pandemic that hit the world, completely changed management of health care and financial sector, the online gambling and betting market was witnessing an accelerated growth during the pandemic. Moreover, rise in secured digital payment options is also another factor contributing the growth of the market.

Online Gambling and Betting Market: Segmentation Analysis

Online Gambling and Betting Market based on Type:

Based on Type the market is further divided into

•Poker

•Casino

•Social Gaming

•Lottery

•Bingo

•Sports Betting

•Others

Of all types, the Sports betting section is predicted to be dominating the market. The rising demand for online gaming and betting is propelling the market. In addition to this, growing sponsorships for online sports betting is considered to fuel the market growth.

Online Gambling and Betting Market by Application:

On the grounds of Application, the market is further divided into

•Desktop

•Mobile

•Tab

Due to rise in adoption of smartphone usage, the mobile gambling is predicted to grow rapidly. This is attributable to vast usage of smart phone and mobile based sports gambling by the young crowd. As per Deloitte report, one-third of the users for gaming and sports betting have adopted smartphones online gambling.

Online Gambling and Betting Market: Geographical Analysis

Based on the geographical view, the market occupies regions as North America, Europe, Asia Pacific, South America, Middle East & Africa. North America remains the fastest growing region as the current judicial structure for online betting allows only certain regions in the of United States for bookmakers’ license. The regions include Nevada, Pennsylvania, and New Jersey to operate legally for online betting. The new law offers online poker, casino’s, online sports betting. New Jersey in US is the fourth largest and biggest state to legalize and regulate online gambling.

Online Gambling and Betting Market: Recent Developments

The stakeholders play a vital role in company’s growth. Companies are focusing on development and inauguration of new products and collaboration with other entities to rise the market share. The main purpose of this collaboration is to manage the work flows. The global online gaming and betting market is highly competitive market due the prevalence of small and large market players across boundaries.

Online Gambling and Betting Market: Key Companies

·         GVC Holdings PLC.

·         GSN games

·         Amaya Inc. (Flutter Entertainment plc)

·         Playtech PLC.

·         Fortuna Entertainment Group

·         888 Holdings PLC.

·         Playtika Holding Corp.

·         Betclic Group

·         Scientific Games Corporation

·         MGM Resorts International

·         Kindred Group plc.

·         IGT

·         Aristocrat Leisure

·         William Hill PLC.

·         Zynga

·         Bet365 Group Ltd.

·         Betsson AB

·         LeoVegas AB

·         SAZKA a.s

·         Tabcorp

·         Others

Online Gambling and Betting Market: Regional Scope     

North America

·         U.S.

·         Canada

·         Mexico

Europe

·         U.K.

·         Germany

·         France

·         Italy

·         Spain

·         Rest of Europe

Asia Pacific

·         China

·         India

·         Japan

·         South Korea

·         Australia

·         Rest of Asia Pacific

South America

·         Brazil

·         Argentina

·         Rest of South America

Middle East and Africa

·         Saudi Arabia

·         UAE

·         Egypt

·         South Africa

·         Rest of Middle East and Africa

 

1. Global Online Gambling & Betting Market Introduction and Market Overview

1.1. Objective of the Market Research Study

1.2. Online Gambling & Betting Market Definition & Description

1.3. Research Data Parameters & Reporting Timelines

1.3.1. Historical Data Reporting Years – 2020 to 2021

1.3.2. Projected Data Reporting Years – 2022 to 2033

1.3.3. Reporting Data Parameters – Value (US$ Million)

1.4. Global Online Gambling & Betting Market Scope and Market Estimation

1.4.1. Global Online Gambling & Betting Overall Market Size (US$ Million), Market CAGR (%), Market Estimates & Forecast (2020 to 2033)

1.4.2. Global Online Gambling & Betting Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2020 to 2033

1.5. Online Gambling & Betting Market Segmentation

1.5.1. Type of Global Online Gambling & Betting Market

1.5.2. Application of Global Online Gambling & Betting Market

1.5.3. Key Regions of Global Online Gambling & Betting Market

 

2. Global Online Gambling & Betting Market - Executive Summary

2.1. Global Online Gambling & Betting Market – Summary & Snapshot

2.2. Global Online Gambling & Betting Market, By Type (US$ Million)

2.3. Global Online Gambling & Betting Market, By Application (US$ Million)

2.4. Global Online Gambling & Betting Market, By Geography (US$ Million)

2.5. Global Online Gambling & Betting Market Outlook & Future Opportunities

 

3. Online Gambling & Betting Market Trends, Outlook, and Factors Analysis

3.1. Global Online Gambling & Betting Market Industry Development Trends under COVID-19 Outbreak

3.1.1. Global COVID-19 Status Overview

3.1.2. Influence of COVID-19 Outbreak on Global Online Gambling & Betting Market Industry Development

3.1.3. Pre & Post COVID-19 Trends and Scenarios

3.2. Online Gambling & Betting Market Dynamics (Growth Impacting Factors & Rationales)

3.2.1. Drivers

3.2.1.1. Surging adoption of smartphones and easy access to gaming is anticipated to drive the market

3.2.1.2. Rising legalization of online gambling by several Countries triggers is expected to grow the market

3.2.2. Restraints

3.2.2.1. Increasing adverse impact on mental health and bans on online gambling may hinder the market growth

3.2.3. Opportunities

3.2.3.1. Access even in restricted areas of gaming provides potential opportunities for the growth of the market

3.2.3.2. Increasing adoption of virtual and augmented reality (VR/AR)

3.2.4. Impact Analysis of Drivers and Restraints

3.3. Ecosystem/ Value Chain Analysis

3.4. Porter’s Five Forces Analysis

3.5. SWOT Analysis

3.6. PEST Analysis

3.7. Average Selling Prices and Pricing Trends Analysis of Online Gambling & Betting Market

3.8. Technological Roadmap

3.9. Key Investment Pockets of Online Gambling & Betting Market

3.9.1. By Type

3.9.2. By Application

3.9.3. By Regions

 

4. Global Online Gambling & Betting Market: Estimates & Historic Trend Analysis (2020 to 2021)

4.1. Global Online Gambling & Betting Market, 2020 – 2021 (US$ Million)

4.2. Global Online Gambling & Betting Market, By Type, 2020 to 2021 (US$ Million)

4.3. Global Online Gambling & Betting Market, By Application, 2020 to 2021 (US$ Million)

4.4. Global Online Gambling & Betting Market, By Region, 2020 to 2021 (US$ Million)

 

5. Global Online Gambling & Betting Market Estimates & Forecast Trend Analysis, by Type

5.1. Global Online Gambling & Betting Market Share (%) Estimates and Forecasts, by Type, 2022 & 2033

5.2. Global Online Gambling & Betting Market Revenue (US$ Million) Estimates and Forecasts, by Type, 2022 to 2033

5.2.1. Poker

5.2.2. Casino

5.2.3. Social Gaming

5.2.4. Lottery

5.2.5. Bingo

5.2.6. Sport Betting

5.2.7. Others

 

6. Global Online Gambling & Betting Market Estimates & Forecast Trend Analysis, by Application

6.1. Global Online Gambling & Betting Market Share (%) Estimates and Forecasts, by Application, 2022 & 2033

6.2. Global Online Gambling & Betting Market Revenue (US$ Million) Estimates and Forecasts, by Application, 2022 to 2033

6.2.1. Desktop

6.2.2. Mobile

6.2.3. Tab

 

7. Global Online Gambling & Betting Market Analysis and Forecast, by Region

7.1. Global Online Gambling & Betting Market Share (%) Estimates and Forecasts, by Region, 2022 & 2033

7.2. Global Online Gambling & Betting Market Revenue (US$ Million) Estimates and Forecasts, by Region, 2022 to 2033

7.2.1. North America

7.2.2. Europe

7.2.3. Asia Pacific

7.2.4. Middle East and Africa

7.2.5. Latin America

 

8. North America Online Gambling & Betting Market: Estimates & Forecast Trend Analysis

8.1. North America Online Gambling & Betting Market Assessments & Key Findings

8.2. North America Online Gambling & Betting Market Share (%) Estimates and Forecasts, 2022 & 2033

8.3. North America Online Gambling & Betting Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

8.3.1. By Type

8.3.2. By Application

8.3.3. By Major Country

8.3.3.1. The U.S.

8.3.3.2. Canada

 

9. Europe Online Gambling & Betting Market: Estimates & Forecast Trend Analysis

9.1. Europe Online Gambling & Betting Market Assessments & Key Findings

9.2. Europe Online Gambling & Betting Market Share (%) Estimates and Forecasts, 2022 & 2033

9.3. Europe Online Gambling & Betting Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

9.3.1. By Type

9.3.2. By Application

9.3.3. By Major Country

9.3.3.1. Germany

9.3.3.2. The U.K.

9.3.3.3. France

9.3.3.4. Italy

9.3.3.5. Spain

9.3.3.6. Rest of Europe (includes all other European countries)

 

10. Asia Pacific Online Gambling & Betting Market: Estimates & Forecast Trend Analysis

10.1. Asia Pacific Online Gambling & Betting Market Assessments & Key Findings

10.2. Asia Pacific Online Gambling & Betting Market Share (%) Estimates and Forecasts, 2022 & 2033

10.3. Asia Pacific Online Gambling & Betting Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

10.3.1. By Type

10.3.2. By Application

10.3.3. By Major Country

10.3.3.1. China

10.3.3.2. Japan

10.3.3.3. India

10.3.3.4. ASEAN

10.3.3.5. South Korea

10.3.3.6. Rest of Asia Pacific (includes all other Asia Pacific countries)

 

11. Middle East & Africa Online Gambling & Betting Market: Estimates & Forecast Trend Analysis

11.1. Middle East & Africa Online Gambling & Betting Market Assessments & Key Findings

11.2. Middle East & Africa Online Gambling & Betting Market Share (%) Estimates and Forecasts, 2022 & 2033

11.3. Middle East & Africa Online Gambling & Betting Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

11.3.1. By Type

11.3.2. By Application

11.3.3. By Major Country

11.3.3.1. GCC

11.3.3.2. South Africa

11.3.3.3. Egypt

11.3.3.4. Rest of Middle East & Africa (includes all other Middle East & Africa countries)

 

12. Latin America Online Gambling & Betting Market: Estimates & Forecast Trend Analysis

12.1. Latin America Market Assessments & Key Findings

12.2. Latin America Online Gambling & Betting Market Share (%) Estimates and Forecasts, 2022 & 2033

12.3. Latin America Online Gambling & Betting Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

12.3.1. By Type

12.3.2. By Application

12.3.3. By Major Country

12.3.3.1. Brazil

12.3.3.2. Mexico

12.3.3.3. Rest of Latin America (includes all other Latin America countries)

 

13. Competitive Landscape

13.1. Online Gambling & Betting Market Revenue Share Analysis (%), by Major Players (2021)

13.2. Online Gambling & Betting Market Competition Matrix, by Leading Players

13.3. Online Gambling & Betting List of Emerging, Prominent and Leading Players

13.4. Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, etc.

 

14. Company Profiles

14.1. GVC Holdings PLC.

14.1.1. Company Overview & Insights

14.1.2. Financial Performance

14.1.3. Product / Service Portfolio

14.1.4. Geographical Footprint & Share

14.1.5. Strategic Initiatives & Key Developments

 

*Similar details would be provided for all the players mentioned below

14.2. GSN games

14.3. Amaya Inc. (Flutter Entertainment plc )

14.4. Playtech PLC.

14.5. Fortuna Entertainment Group

14.6. 888 Holdings PLC.

14.7. Playtika Holding Corp.

14.8. Betclic Group

14.9. Scientific Games Corporation

14.10. MGM Resorts International

14.11. Kindred Group plc

14.12. IGT

14.13. Aristocrat Leisure

14.14. William Hill PLC

14.15. Zynga

14.16. Bet365 Group Ltd

14.17. Betsson AB

14.18. LeoVegas AB

14.19. SAZKA a.s

14.20. Tabcorp

14.21. Others

 

15. Assumptions and Research Methodology

15.1. Data Mining

15.2. Secondary Research

15.3. Primary Research

15.4. Subject Matter Expert Advice

15.5. Quality Check

15.6. Final Review

15.7. Data Triangulation

15.8. Bottom-Up Approach

15.9. Top Down Approach

15.10. Research Flow

15.11. Key Insights from Industry Experts

15.12. Data Sources

15.13. Assumptions

15.14. Limitations

 

16. Conclusions and Recommendations

16.1. Key Research Findings and Conclusion

16.2. Key Insights & Recommendations from Analysts

Quality Assurance Process

  1. We Market Research’s Quality Assurance program strives to deliver superior value to our clients.

We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
  • Project kickoff meeting with client
  • Conduct frequent client communications
  • Form project steering committee
  • Assign a senior SR executive as QA Executive
  • Conduct internal editorial & quality reviews of project deliverables
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  • Monitor client satisfaction
  • Monitor realized value post-project

Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

Frequently Asked Questions

What is the market size and growth projections?

The Global Online Gambling and Betting Market is cherished to reveal a substantial growth of a CAGR of 11.8% during the forecasted period of 2023 to 2033. The Global Online Gambling and Betting Market was valued at USD 69,059.3 million in 2022 and is estimated to display a gigantic move of USD 1,88,450.98 million by 2033.

What are the drivers shaping various markets?

The online betting is predominantly applied to sports category, specifically in football events such FIFA world cup and European Championship. Several online programmers are sponsoring different teams as a part of their marketing and promotional activities. For example, the brand Bwin, an innovative online sports brand across the Continental Europe accomplished global appreciation from high-profile football sponsorships from clubs, such as Real Madrid and AC Milan.

Who are the key competitors of market Players?

Some of the major players operating within the market are GVC Holdings PLC., GSN games, Amaya Inc. (Flutter Entertainment plc), Playtech PLC., Fortuna Entertainment Group, 888 Holdings PLC., Playtika Holding Corp., Betclic Group, Scientific Games Corporation, MGM Resorts International, Kindred Group plc., IGT, Aristocrat Leisure, William Hill PLC., Zynga, Bet365 Group Ltd., Betsson AB, LeoVegas AB, SAZKA a.s, Tabcorp, Others.

What are the top performing segments, and countries / regions of each of the markets?

Based on the geographical view, the market occupies regions as North America, Europe, Asia Pacific, South America, Middle East & Africa. North America remains the fastest growing region as the current judicial structure for online betting allows only certain regions in the of United States for bookmakers’ license.

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