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Market Synopsis
As per the analysis by Market Research Future Reports (MRFR), the global online gambling market size is estimated to value USD 165.3 Billion, with a CAGR of 11.30% during the review period. However, there has been a change in the global online gambling market 2020 due to the outbreak of COVID-19. We will provide COVID-19 impact analysis with report. As per the analysis, the traffic of gambling resources has elevated by 10 to 15%. The online gambling market increased significantly in March 2020. Online gambling has resulted in being a substantial revenue-generating resource for governments. Some of the countries have decided to take advantage of the booming popularity of online gambling platforms. For example, Belarus officially announced to make online gambling legal. However, the market experienced a downfall in April due to the implementation of strict online gambling rules.
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Online casinos and poker are some of the most popular games in the online gambling market. With the rapid advancement in mobile apps and the Internet of Things (IoT), the online gambling market has shown a significant expansion concerning the number of users. Because of seamless internet connectivity, online gambling platforms have started functioning efficiently. This factor has assisted in augmenting the expansion of the market. Online gambling companies are spending enormously to innovate the platform.
Key Players
The forefront players of the global online gambling market are The Stars Group (Canada), International Game Technology PLC (US), Betsson AB (Sweden), Net Entertainment (Sweden), Kindred Group Plc (Malta), Paddy Power Betfair PLC (Ireland), Ladbrokes Betting & Gaming Ltd.(UK), 888 Holdings PLC (UK), Bet-at-home.com (UK), Betfair Group plc. (UK), Bwin. Party Digital Entertainment (Austria), William Hill Plc (UK), bet365 (UK), Scientific Games (US), VGC Holdings PLC (Isle of Man), Betway (Europe), Spin Inc. (US), and Royal Panda (Europe).
Market Segmentation
The global online gambling market can be segregated on the basis of device type, end-user, game type, and regions.
On the basis of device type, the global online gambling market can be classified into mobile and desktop.
On the basis of end-users, the global online gambling market can be classified into social exuberant, gambling enthusiasts, and dabbles.
On the basis of game type, the global online gambling market can be classified into the casino, betting, poker, online bingo, lottery, and others.
On the basis of region, the global online gambling market can be classified into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.
Type Insights
The online gambling market segmentation, based on type, is online bingo, betting, lottery, casino, and poker. The segment responsible for the biggest market share, betting, is anticipated to expand at a CAGR of 12.5% during the projection period. The rise of the sports betting industry is driven by the effective use of computers and cell phones to place wagers on sporting events. The second-largest segment is casinos. The main driver of the market is the rising popularity of social gambling and gambling apps.
End User Insights
The online gambling market segmentation, based on end user, is dabblers, gambling enthusiasts, and social exuberant. The online gambling market growth was prominently high among gambling enthusiasts. With the growing number of online gambling platforms and their ease of availability, gambling enthusiast helps the market to grow. However, in 2021, the social exuberant helped the market grow significantly due to the lockdown imposed by Covid-19.
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Regional Analysis
The geographical analysis of Asia-Pacific, North America, Europe, the Middle East & Africa, and South America has been conducted. As per the analysis by the MRFR, Europe dominates the global market in terms of market share since the companies established in the region are technically advanced. Besides that, governments of the region have implemented supportive rules and regulations, which further propels the market. Additionally, the largest global online gambling companies are situated in the European region. On the other hand, the APAC region is estimated to record the highest CAGR during the forecast period. There has been sudden popularity of mobile gambling and an increase in foreign investment, which further propels the APAC market.
However, there has been a change in market dynamics due to the outbreak of COVID-19. The countries which have benefitted during the pandemic are Spain, Italy, the Philippines, the US, India, and Georgia.
Industry News
May 2020
The Ukrainian court has ordered internet service providers (ISPs) to block access to 59 online gambling websites based on the evidence provided by the Security Service of Ukraine (SBU).
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