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The casinos and gambling market size is forecast to increase by USD 132.17 billion, at a CAGR of 10.43% between 2023 and 2028. The global market is witnessing significant growth, driven by the increasing popularity of online gambling and the use of social media marketing by casino operators. Online gambling has gained traction due to its convenience and accessibility, allowing players to enjoy their favorite games from anywhere at any time. Additionally, the socio-economic impact of casinos is a major growth factor, as they contribute significantly to local economies through job creation and tourism. However, challenges such as strict regulations and growing concerns over problem gambling remain, requiring operators to implement responsible gaming measures and adhere to regulatory requirements. Overall, the market is expected to continue its growth trajectory, driven by technological advancements and evolving consumer preferences.
The market encompasses various forms of gambling, including casino games, sports betting, lotteries, horse wagering, and gambling services. Gross gaming revenue from these activities reached billions in recent years. Casinos offer a range of games such as poker, blackjack, roulette, and slot machines, including video gaming terminals and coin-operated gambling devices. Poker, both in card rooms and online poker cardrooms like Pokerstars Exchange, is a significant contributor to the market. Sports betting, both in-person at bookmakers and online betting platforms, continues to gain popularity, with wagering on sporting events and non-athletic events. Live casino offerings and mobile gambling platforms have also emerged, providing consumers with more convenient experiences, such as mixed reality casino offerings.
Online gambling websites, including casino hotels and online casino platforms, have seen significant growth, offering jackpots and various gaming options. Despite the growth, the market faces challenges, including casino breaches and regulatory issues.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The poker segment is estimated to witness significant growth during the forecast period. The Casino Gambling Market experienced substantial growth in 2023, with poker holding a considerable share due to the increasing popularity of online poker. This digital card game, played over the Internet, has attracted a vast number of players worldwide. The rise of online gambling platforms offering a diverse range of casino games, including poker, has fueled the demand. Moreover, live casino games are gaining traction, further boosting the poker segment. Internet penetration and the widespread use of mobile phones have made these games accessible to a larger audience. The gambling industry is also embracing advanced technologies like blockchain technology and cryptocurrency for sports betting and wagering.
Entertainment offerings, such as live shows, concerts, restaurants, and event spaces, continue to attract tourists and gamblers to Casinos and Bingo halls. The emergence of XR Casino, including augmented reality and virtual reality, is set to revolutionize the gambling experience. Other gambling services, such as coin-operated gambling devices, off-track sports betting, card rooms, casino hotels, and female gamblers, also contribute to the market's growth. E-sports and online gambling websites, such as Hard Rock Casino, have further expanded the market's reach. Despite the advancements, casino breaches remain a concern, necessitating stringent security measures.
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The Poker segment accounted for USD 47.06 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market in North America is experiencing significant growth due to the increasing adoption of technology and the relaxation of gambling regulations. Extended reality (XR) and mixed reality technologies are revolutionizing the gambling experience by offering good sporting events, online betting on non-athletic events such as reality show contests and political elections, and live casino offerings. Vendors are expanding their reach through online poker cardrooms like PokerStars Exchange and mobile gambling platforms. The US market, in particular, is diverse, with each state having the authority to regulate its gambling industry. New casinos are emerging, offering jackpots on slot machines and progressive jackpot slots, while offshore betting services and online gambling platforms continue to gain popularity among gambling enthusiasts.
Our casinos and gambling market researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The prevalence of online gambling has seen significant growth in recent years, attracting a large and diverse user base. The Casino Gambling Market is experiencing significant growth due to the increasing popularity of online gambling. This trend can be attributed to the widespread use of the Internet and mobile phones, which has made casino games more accessible than ever before. Traditional casino offerings such as slot games, poker, and table games are now available online, along with new and innovative games. Additionally, the market is expanding to include new forms of gambling, such as sports betting, lotteries, horse wagering, and even e-sports. Entertainment offerings, including live shows, concerts, and restaurants, are also being integrated into online casino platforms to enhance the user experience.
Furthermore, the adoption of advanced technologies like blockchain technology and cryptocurrency is revolutionizing the industry, offering secure and anonymous transactions. Despite these advancements, traditional casinos, including Bingo halls, card rooms, coin-operated gambling devices, and off-track sports betting, continue to thrive. Female gamblers represent a significant demographic, and casinos are catering to their needs with specialized offerings. The market is expected to continue growing, with emerging technologies like augmented reality and virtual reality set to transform the casino experience further.
Casino operators have observed a growing trend towards integrating social media marketing into their marketing strategies. This approach allows them to engage with their audience in a more personal and interactive way, fostering a stronger online presence and community. By utilizing social media platforms, casino operators can reach a larger and more diverse audience, as well as respond to customer inquiries and feedback in real time. This digital marketing strategy has become an essential tool for casinos looking to expand their customer base and enhance their brand image. The Casino Gambling Market encompasses various forms of gambling, including land-based casinos, bingo halls, card rooms, off-track sports betting, coin-operated gambling devices, and online gambling websites. Gross gaming revenue in the market is driven by tourists seeking entertainment in the form of casino games such as poker, lotteries, horse wagering, sports betting, and gambling services. Casinos offer additional attractions like restaurants, live shows, concerts, and event spaces to enhance the overall experience. The advent of technology has significantly impacted the Casino Gambling Market. With increasing Internet penetration and mobile phone usage, online gambling has gained popularity. Vendors are leveraging blockchain technology and cryptocurrency for secure and anonymous transactions.
Augmented reality and virtual reality are being explored to offer XR Casino experiences. Social media marketing is a key strategy for attracting customers, with platforms like Facebook, Twitter, Pinterest, Instagram, and YouTube being widely used for promotions. Female gamblers represent a growing demographic, with e-sports and betting on events like the Olympics and World Cup gaining traction. Despite the benefits, there are concerns regarding casino breaches and the potential for addiction.
Casinos have significant socio-economic effects, providing employment opportunities, generating revenue for local governments, and potentially contributing to the development of tourism industries. However, they also pose challenges, such as increased crime rates, social issues, and potential addiction among some patrons. It is essential to carefully consider these impacts and implement regulations to mitigate any negative consequences. The Casino Gambling Market encompasses various forms of wagering, including poker, lotteries, horse wagering, sports betting, and gambling services provided in Casinos, Bingo halls, and card rooms. Gross gaming revenue from this market is significantly driven by tourists seeking entertainment in the form of live shows, concerts, restaurants, and event attendance. With the increasing penetration of internet and mobile phones, online gambling websites have gained popularity. Blockchain technology and cryptocurrency have also entered the scene, enabling digital transactions and enhancing security. However, concerns regarding the social and economic impact of gambling remain. Winning large sums of money can lead to extreme emotions, while losing can result in financial and mental health issues.
Regulatory authorities and the public are increasingly focused on addressing these concerns. The market further includes off-track sports betting, coin-operated gambling devices, bookmakers, and casino hotels. Female gamblers and the emergence of e-sports and XR Casinos using augmented reality and virtual reality technologies add to the market's diversity. Despite the risks, the allure of casino games continues to attract a large and diverse audience.
The casinos and gambling market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bufalo Partners - The company provides a diverse range of casino and gambling services under the subsidiary brand, Mummys Gold.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is a significant global industry, generating substantial gross gaming revenue each year. Tourists are a major demographic, drawn to casinos for their restaurants, entertainment offerings, and live shows. The market caters to various forms of gambling, including casino games like poker and lotteries, horse wagering, sports betting, and wagering on events. Internet penetration and mobile phones have expanded the market's reach, with online gambling websites becoming increasingly popular. Innovations like blockchain technology and cryptocurrency are reshaping the industry, offering secure and anonymous transactions. Female gamblers are an emerging market segment, with the intent to increase.
Casinos offer various services, including bingo halls, video gaming terminals, card rooms, casino hotels, and off-track sports betting. Gambling services extend to coin-operated gambling devices, bookmakers, and even e-sports. The market faces challenges, such as casino breaches and the emergence of augmented reality and virtual reality XR casinos. Despite these challenges, the casino gambling market continues to evolve, offering new experiences and opportunities for gamblers.
Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.43% |
Market growth 2024-2028 |
USD 132.17 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
9.5 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 37% |
Key countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Bufalo Partners, Caesars Entertainment Inc., Cher Ae Heights Casino, DraftKings Inc., Flutter Entertainment Plc, Galaxy Gaming, Gambling.Com Group Ltd., Konami Group Corp., Luxury Casino, Marina Bay Sands Casino, MGM Resorts International, NOVOMATIC AG, Selina, SJM Holdings Ltd., Sky City Auckland Casino, Table Trac inc., Thinamy Entertainment Ltd., Wynn Resorts Holdings LLC, CT Gaming, and Motion JVco Ltd. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Platform
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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