The Wealth Expansion in the APAC Region Has Bolstered the Growth of the Global Online Gambling Market

Introduction

The Global Online Gambling Market is witnessing a surge due to the increasing digitalization among the emerging and developing countries. Additionally, the legalization of online gambling along with some favouring government regulations has bolstered the growth of the market. Further, the surge in internet penetration across all the regions and the availability of advanced infrastructure has led to higher penetration of the games. Besides, it's easy to use interface, use of real and digital money, support of differential language, different currencies, and presence in numerous locations has fostered the growth of the market. However, the increasing number of cybercrimes and strict government regulations in certain countries have restrained the growth of the market.

Key Highlights

• The Global Online Gambling Market is expected to grow from USD 51.8 Billion in the year 2019 to USD 139 Billion 2027 at a compound annual growth rate (CAGR) of 12% in the forecast period.
• Europe dominates the Online Gambling Market on account of the presence of favourable technical infrastructure, a higher number of fintech companies, and the presence of major players.
• The Asia Pacific to exhibit the fastest growth in the Online Gambling Market due to the legalization in certain countries, the emergence of digital technology, and higher adoption latest technologies
• The sports betting segment caters to the highest markets share among the different types of the Global Online Gambling Market
• The desktop segment caters to the highest markets share among the different devices in the Global Online Gambling Market

Competitive Players

1. Bet365 Group Ltd
2. Betsson AB
3. VGC Holdings PLC (Entain plc)
4. Kindred Group PLC
5. Ladbrokes Coral Group plc
6. Paddy Power Betfair plc (Flutter Entertainment)
7. Sky Betting & Gaming
8. 888 Group
9. Stars Group Inc. (Flutter Entertainment)
10. William Hill PLC 91.

Recent Developments

Recent Developments

• May 2024 - In a report released on May 16, the U.K.'s Department for Culture, Media, and Sport proposed raising the age limit for gaming machines at casinos, arcades, and bingo halls to 18 years old and allowing cashless payments on these machines. The regulations will increase the maximum amount of money the government may charge for gaming licenses by 15% and let businesses install more machines.
• May 2024 - The UK Gambling Commission (UKGC) introduced new regulations, including a pilot scheme that imposes a £500 betting limit. This initiative aims to make gambling safer and is backed by the Betting and Gambling Council (BGC). These changes also involve publishing public information about bettors, including their debts.

Segmentation

1. By Type
   1. Sports Betting
   2. Casinos
      1. iSlots
      2. iTable
      3. iDealer
      4. Other iCasino Games
   3. Poker
   4. Bingo
   5. Others
2. By Device
   1. Desktop
   2. Mobile
   3. Others
3. By Component
   1. Software
   2. Services