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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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
Access Press Release of Online Gambling Market@ https://www.grandviewresearch.com/press-release/global-online-gambling-market
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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