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
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Conclusion
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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.
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.
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.
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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