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In the past few years, online gambling has boomed greatly. This is because of many changes in markets and businesses that have made things very different. The rise in digital tools like smartphones and fast internet is a key reason for the rise. These improvements have made it easier for people to join online betting websites. This has resulted in a big increase of users taking part.
Another aspect that makes the internet gaming field grow is its very tough competition. The many businesses competing for the top spot in a market always pushes them to come up with new and exciting services. The strong competition in the internet gambling world has created a big collection of modern online betting items. These go from regular casino games to high-tech sports making bets systems.
Also, growing patterns in the fun and relaxation sectors are directly connected to how online gambling works. When you mix online gambling with other fun things like games and live sport on the internet, it creates special effects that many people can enjoy. The joining of these fun choices helps the online betting business to grow and last longer.
Consumers’ likes and actions have a big impact on how the online gambling business works. More people are starting to see online betting and gambling as normal ways of having fun. This is changing how customers think about them. Also, features in the market have been greatly changed by technology stuff like artificial intelligence and data analysis. Online betting websites use these tech tools to improve the user experience, make products better and carry out good marketing plans. By using computer programs to watch what players like and how they act, companies can change their deals and rewards. This makes customers happier with the games while also keeping them coming back more often.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Type, Device, and Region |
Online Gambling Market Highlights:
Online Gambling Market Overview
The Online Gambling Market is projected to grow from USD 81.47 billion in 2024 to USD 172.5 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.83% during the forecast period (2024 - 2032). Additionally, the market size for Online Gambling was valued at USD 73.2 billion in 2023.
Internet usage is expanding, and more people are using their phones to play online games, are the key market drivers enhancing the market growth.
Figure 1: Online Gambling Market Size, 2024 - 2032 (USD Billion)
Type: Secondary Research, Primary Research, MRFR Database and Analyst Review
Online Gambling Market Trends
The growing internet penetration is driving the market growth
The demand for online gambling is rising as a result of increased internet usage and an increase in users' use of mobile devices to play online games. Affiliation with celebrities, business sponsorships, simple access to internet gambling, and legalisation all support industry expansion. The market is expanding due to the increasing use of smartphones and the 5G internet technologies. For instance, the Entain Plc. subsidiary BetMGM teamed with NBC Sports in September 2022 to give weekly integrations on 2022 NFL season highlights on Football Night in America and other content across all of NBC Sports' platforms. Artificial intelligence, machine learning, and augmented reality are features of contemporary smartphones that aid programmers in developing immersive and interactive gambling applications.Additionally, the industry is anticipated to be driven by the availability of inexpensive cellphones.
The annual growth of online casinos coexists with technological advancements, and these developments are meant to build the necessary trust in the online gambling industry. For instance, virtual reality (VR) gaming simulates environments, allowing players to interact with them accurately via specialised hardware. VR delivers a more realistic gambling experience, higher sound quality, and a realistic game design, as well as allowing players to interact with other players and dealers. For instance, the SlotsMillion online casino from SLTM Ltd. has a VR feature.
Developers of online casinos put a lot of effort into creating tools that help and support players, guarantee the integrity of gambling, and stop fraud. A free-play version of the games is provided by several online gambling sites, which draws in new players. The free-to-play versions rely on website or in-app adverts to make money. For instance, gambling websites and apps offer ad spots for their websites and in-app content. Since customers can play whenever it suits them, the internet gambling sector is expanding and in high demand.
The introduction of blockchain technology has also had a big impact on market expansion. In addition to conventional payment methods, blockchain payments are now being accepted by gambling apps and websites. For instance, BitStarz, a platform for bitcoin gambling, has almost 4 million regular users. Through blockchain ledgers, the blockchain can provide safe payments and transparency in gaming activity. Due to the speed and security of bitcoin transactions, gambling offers a wide range of chances. Cryptocurrency transactions are now often used by users in online gambling thanks to the lack of rules and restrictions on them. It is projected that the sector would increase as a result of the evolving regulatory environment for virtual betting and the legalisation of the market in new nations. For instance, Goa and Sikkim recently legalised online gaming. It is anticipated that rising credibility will further fuel market expansion. It is projected that the sector would develop as a result of the rising attention given by major firms like Kindred, Entain, Bet365, and others to innovation, collaborations, mergers, and promotion in order to increase their position globally.Thus, driving the Online Gambling market revenue.
Online Gambling Market Segment Insights
Online Gambling Type Insights
The global Online Gambling market segmentation, based on Type, includes Online Bingo, Betting, Lottery, Casino, and Poker. Betting segment accounted for the largest revenue share in 2022. The industry growth has been accelerated by the growing popularity of sports betting gambling on activities like rugby and football, as well as by the widespread use of the internet. The market has grown as a result of collaborations between private businesses and producers of gaming software to provide UI gaming solutions that are user-friendly. For instance, Amazon.com, Inc. collaborated with DraftKings Inc. in September 2022 to give it the sole sports betting tool for football matches broadcast on Prime Video.
Online Gambling Device Insights
The global Online Gambling market segmentation, based on Device, includes Desktop and Mobile. Desktop segment dominated the global Online Gambling market in 2022.Compared to portable devices and other devices, the desktop has a larger screen size that enables gamblers to enjoy the game's details and images. Additionally, desktops' performance characteristics, such as their high-definition audio and video and scalable storage options, enhance the gaming experience. These elements have contributed to the expansion of the desktop-type market.
Realistic gaming images on smartphones thanks to advanced mobile technology have improved access to online gambling on mobile devices. For instance, iOS and Android smartphones allow access to betting apps like CricBaba, Sky Bet, bet365, and more. The segment is expanding as a result of the widespread availability of mobile phones at reasonable rates and contemporary features like enhanced graphics and expanded storage. Users of mobile gambling can benefit from a variety of features, including remote play, loyalty points, more deposit possibilities, and options for multiplayer games.
Figure 1: Global Online Gambling Market, by Device, 2022 & 2032 (USD Billion)
Type: Secondary Research, Primary Research, MRFR Database and Analyst Review
Online Gambling Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Online Gambling Market dominated this market in 2022 (45.80%). It is projected that the region's growing regularisation of the business will fuel industrial expansion. Because gambling is controlled in these states, the legal structure in the United States currently only permits licenced bookmakers to operate legally in New Jersey, Nevada, and Pennsylvania.Further, the U.S. Online Gambling market held the largest market share, and the Canada Online Gambling market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: GLOBAL ONLINE GAMBLING MARKET SHARE BY REGION 2022 (USD Billion)
Type: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Online Gambling market accounted for the healthy market share in 2022.The legalisation of gambling in several European nations, notably Italy, Spain, France, and Germany, is to blame for the development. The availability of high-speed broadband internet, the growing appeal of online casinos, and the expanding use of smartphones are some other factors driving industry expansion. For instance, according to a survey by the European Gaming & Betting Association, sports betting made up the greatest portion of online gambling in 2022.Further, the German Online Gambling market held the largest market share, and the U.K Online Gambling market was the fastest growing market in the European region.
The Asia Pacific Online Gambling market is expected to register significant growth from 2023 to 2032. Over the course of the forecast period, market growth is predicted to be aided by the rising usage of internet services and changes to regulations governing online gambling and betting. Moreover, China’s Online Gambling market held the largest market share, and the Indian Online Gambling market was the fastest growing market in the Asia-Pacific region.
Online Gambling Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Online Gambling market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Online Gambling industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Online Gambling industry to benefit clients and increase the market sector. In recent years, the Online Gambling industry has offered some of the most significant advantages to medicine. Major players in the Online Gambling market, including VGC Holdings PLC, William Hill PLC, Kindred Group PLC, Paddy Power Betfair PLC, Sky Betting and Gaming, Betsson AB, 888 Holdings PLC, Ladbrokes Coral Group PLC, and The Stars Group Inc., are attempting to increase market demand by investing in research and development operations.
Class II and Class III gaming machines, as well as casino management systems, are among the many products and services that Aristocrat Leisure Ltd (Aristocrat) creates and offers to consumers. RAID, Vikings, Dragon Link, Game of Thrones, Wonder 4, Dollar Storm: Buffalo Gold Revolution, Grand Star: Zorro, Timber Wolf Diamond: Cashman bingo, Choy's Kingdom, Gold Stacks 88, The Hunt for Neptine Gold, and Lightning link are just a few of the games offered by the company. Additionally, it produces social gambling platforms, electronic gaming machines, and casino management solutions. The business engages in both real money and social gaming online. It operates in Asia-Pacific, Europe, Latin America, and North America.The headquarters of Aristocrat are located in North Ryde, New South Wales, Australia. Aristocrat revealed its intentions to launch a subsidiary for online gambling in February 2022. The corporation disclosed that it would create a third operating entity to manage the online RMG market.
The holding company for investments is called Betsson AB (Betsson). It conducts business investing in and managing businesses involved in the online gaming sector. A variety of video games and online gambling items are owned, run, and managed by the corporation. It also provides original online table game, slot, and sports game varieties. Along with Betsson, Betsafe, Nordicbet, Casino Winner, Guts, Jackpot 247, Kaboo, RaceBets, Rizk, Thrills, Suomi Arvat, Norges Automaten, Europebet, Jalla Casino, and Casinoeuro are some of the brands owned by Betsson.It is the owner of Betsson Malta, which provides gaming, bingo, scratch cards, a casino, and poker. Sweden, China, Denmark, Gibraltar, Latvia, the United Kingdom, Hungary, Georgia, Italy, Estonia, Malta, and the Philippines are among the countries where the business works. The headquarters of Betsson are in Stockholm, Sweden. A B2B sportsbook operator called KickerTech Malta Limited had 80% of its shares purchased by Betsson AB in October 2022. Through this acquisition, Betsson was able to expand its B2B clientele and offer more scalable technology.
Key Companies in the Online Gambling market include
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VGC Holdings PLC
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William Hill PLC
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Kindred Group PLC
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Paddy Power Betfair PLC
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Sky Betting and Gaming
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888 Holdings PLC
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Ladbrokes Coral Group PLC
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The Stars Group Inc.
Online Gambling Industry Developments
September 2022: In order to give weekly integrations on 2022 NFL season highlights on Football Night in America and other programming across all of NBC Sports' platforms, the BetMGM subsidiary of Entain Plc. teamed with the network.
August 2022: Kansas-licensed online sports betting operators will be able to take use of marketing services from gaming.com Group Limited, a leading provider of player acquisition services for the regulated worldwide online gaming market.
Online Gambling Market Segmentation
Online Gambling Type Outlook
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Online Bingo
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Betting
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Lottery
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Casino
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Poker
Online Gambling Device Outlook
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Desktop
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Mobile
Online Gambling Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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