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
- Bet365 Group Ltd
- Betsson AB
- VGC Holdings PLC (Entain plc)
- Kindred Group PLC
- Ladbrokes Coral Group plc
- Paddy Power Betfair plc (Flutter Entertainment)
- Sky Betting & Gaming
- 888 Group
- Stars Group Inc. (Flutter Entertainment)
- William Hill PLC 91.
Recent Developments
- August 2022 - The global sports-betting, gaming, and interactive entertainment company Entain plc (LSE: ENT), also known as "Entain" or the "Group," announced a partnership with EMMA Capital ("EMMA"), a renowned Czech investment company, to launch Entain CEE. This new business will help the company expand in Central and Eastern Europe ("CEE"). 75% of the economic rights in Entain CEE will belong to Entain. The SuperSport Group ("SuperSport"), Croatia's top gaming and sportsbook operator, will be purchased by Entain CEE from EMMA (the "Acquisition").
- June 2022 - To establish Wheel of Fortune Casino, the first fully brand-led online casino in North America, Sony Pictures Television and International Game Technology PLC ("IGT") (NYSE: IGT) reached an agreement with BetMGM, a major sports betting and iGaming operator. The venerable American game show Wheel of Fortune is gearing up for its historic 40th season. Over the past 25 years, more than 250 variations of the Wheel of Fortune slot machine have been released, and this online debut of Wheel of Fortune Casino will mark the brand's most recent foray into gaming.
- June 2022 - To provide passengers on cruise ships with top-notch retail and mobile sports betting and iGaming experiences, BetMGM, a renowned sports betting and iGaming operator, announced a new cooperation with Carnival Corporation. Through this alliance, gambling will be accessible on more than 50 ships in the United States, including those operated by Carnival Cruise Line, Holland America Line, and Princess Cruises. The platform from BetMGM will launch gradually over the upcoming months.
Segmentation
- By Type
- Sports Betting
- Casinos
- iSlots
- iTable
- iDealer
- Other iCasino Games
- Poker
- Bingo
- Others
- By Device
- Desktop
- Mobile
- Others
- By Component
- Software
- Services