The global online gambling market size is
expected to reach USD 102.97 billion by 2025, registering a CAGR of 11.5% from
2019 to 2025, according to a new report by Grand View Research, Inc. The market
is expected to gain traction over the forecast period. Growing popularity of
betting across the globe and freemium model in online gambling are among the
potential opportunities likely to unfold in the next few years.
Increasing adoption of
smartphones and easy access to casino gaming platforms are currently driving
the market growth. Factors such as increasing internet penetration and
availability of cost-effective mobile applications for betting are also
expected to contribute to the market growth over the forecast period. According
to the American Gaming Association (AGA), as of 2018, approximately 2,800 sites
are active online and offer bingo, poker, and lottery, among other activities.
Electronic Gambling
Devices (EGDs) are inexpensive to run and easily available. These devices have
an in-built software that mimics the experience of a local casino. For
instance, a Video Lottery Terminal (VLT) uses advancing technology and can also
be customized to electronic slot machines, spinning reel slot machines, video
slot machines, and electronic poker games.
Increasing
digitalization coupled with secure digital payment options are also some
factors contributing to the market growth. The market is further expected to
gain momentum over the forecast period. This may be attributed to the rising
use of digital currency and websites provided by companies for betting and
gambling.
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https://www.grandviewresearch.com/industry-analysis/online-gambling-market
https://www.grandviewresearch.com/industry-analysis/online-gambling-market
Further key findings from the report suggest:
· Ease of sports betting using a computer or
smartphone coupled with the proliferation of sports betting ads across the
globe is expected to propel the segment growth over the forecast period
· Online gambling service providers/operators
are allowed to enter into agreements with individual players or customers to
provide betting services for real money, in turn attracting more gamers
· A large number of customers are using
desktops for gambling as downloading and installing casino software proves to
be easier on desktops. This, in turn, is expected to propel the desktop segment
growth
· Online agencies, networks & exchanges,
and third-party ad servers are used for advertising company gambling websites
· Europe is expected to continue its
dominance over the forecast period. In the U.K., online gambling is legalized
owing to safe practices and stringent regulations laid down by the government
· Asia Pacific is anticipated to register the
highest growth rate owing to the increased adoption of smartphones, larger
proportion of younger population, and legalization of online gambling in the
region. The online gambling market size is largely influenced by the size of
betting and pertinent outcome
· Service providers/operators hold a license
from the jurisdiction where the company was incorporated. Key companies in the
market include William Hill PLC and Paddy Power BetFair PLC.
Grand View Research has
segmented the global online gambling market on the basis of type, device, and
region.
Online Gambling Type Outlook (Revenue, USD Billion, 2014
- 2025)
·
Sports Betting
·
Casinos
·
Poker
·
Bingo
·
Others
Online Gambling Device Outlook (Revenue, USD Billion,
2014 - 2025)
·
Desktop
·
Mobile
·
Others
Online Gambling Regional Outlook (Revenue, USD Billion,
2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
U.K.
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
·
Middle East & Africa
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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