Online Gambling Market Segmentation, Competitive Landscape and Industry Poised for Rapid Growth 2023

Market Highlights

The global market for online gambling was worth USD 50.85 Billion in the year 2018, notes Market Research Future (MRFR). The market also exhibits signs of achieving a strong growth rate of 13.2% during the forecast period (2017-2025).

Market Strengths and Key Barriers

Constant surge in internet penetration coupled with the rising use of mobile phones to play online games at homes and public places is boosting the market demand for online gambling. Other equally important growth-inducing factors include easy access to online gambling, corporate sponsorships, celebrity endorsements, and legalization & cultural approval. Additionally, surging availability of cost-effective mobile applications all over the world can also induce market growth to a great extent.

The internet, since its inception, has become a nationwide sensation and acts as a sturdy platform for communication and also helps merchants offer a variety of services within the digital market space. Few trends suggest that the consumption of the service in the worldwide virtual market has surged by 28 percent every year in the past decade. With the rising use of the internet, the popularity of online casinos has multiplied massively. Mounting awareness about latest technologies combined with the rising disposable income of individuals across regions has also stimulated the market growth in recent years.

Countries around the world have legalized online gambling as it facilitates employment and induces revenue generation. For instance, India has made online gambling legal in Goa and Sikkim. Moreover, online gambling helps players experience gambling activities with the use of internet services in real-time. Increasing number of sports followers all over the world has triggered the demand for sports betting. Bets are mostly placed on baseball, boxing, hockey and football, which works in favor of the online gambling market.

Market Trends

Emergence of Blockchain Technology

Emergence of next-gen technologies like blockchain and virtual reality has turned out to be a welcome trend in the online gambling market. The trend is picking up speed in the market, given that many companies are now making extensive use of the blockchain technology along with their online gambling business. This leads to high transparency in gambling activities and also provides a better user experience. Besides, blockchain-based gambling platforms are in high demand as they are entirely decentralized and are devoid of any third-party influence.

Segmentation:

The global online gambling market size has been segmented with regard to game type, device type, and end users.

Depending on the game type, the online gambling market has been considered for casino, betting, lottery, poker, online bingo, and others.

The device types mentioned in the report are desktop and mobile.

Given the end-user segment, the online gambling market caters to social exuberant, dabbles and gambling enthusiasts.

Regional Insight

The geographic distribution of the online gambling market covers South America, Europe, North America, the Middle East & Africa and Asia Pacific (APAC).

Europe controls the majority of the online gambling market, since the region houses a massive pool of leading companies that use advanced technologies. Europe also has numerous favorable government rules and regulations that are followed by various countries, some of which are the United Kingdom (UK), France and Germany among others. Some of the most renowned online gambling companies that are known internationally are Bet365, 888 Holdings and Kindred Group PLC, which has taken the regional market to greater heights over the years.

From 2019 to 2025, the APAC market for online gambling can achieve the highest CAGR, thanks to the considerable increase in foreign investments paired with the growing popularity of mobile gambling. Improving economic status of the emerging countries and the high spending on leisure activities has also added to the market strength.

Top Players

Top players in the worldwide market for online gambling are Ladbrokes Betting & Gaming Ltd.(UK), Betsson AB (Sweden), 888 Holdings PLC (UK), Net Entertainment (Sweden), International Game Technology PLC (US), Bet-at-home.com (UK), Bwin, Paddy Power Betfair PLC (Ireland), Kindred Group Plc (Malta), The Stars Group (Canada), and others.

Other players identified in the report are Royal Panda (Europe), William Hill Plc (UK), Scientific Games (US), bet365 (UK), Spin Inc. (US), Betway (Europe), Party Digital Entertainment (Austria), VGC Holdings PLC (Isle of Man), Betfair Group plc. (UK), to mention a few.