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The Global Online Gambling Market size is estimated to increase by USD 181.47 billion, at a CAGR of 11.96% between 2023 and 2028. Market growth hinges on several factors, including the increasing adoption of digital technologies, the rise in sponsorships, and the availability of convenient payment options. The integration of digital technologies is transforming market dynamics by enhancing operational efficiency and customer engagement across various sectors. Simultaneously, the proliferation of sponsorships provides financial backing and visibility, crucial for driving market expansion. The market segment is rapidly expanding, driven by a multitude of factors. With the convenience of mobile application-based lottery games and the allure of draw-based and scratch-off instant games, digital platforms offer a diverse array of entertainment options. Additionally, the introduction of convenient payment options simplifies transactions and boosts consumer accessibility, thereby fostering market growth. Furthermore, partnerships aimed at launching new games contribute significantly to market development by leveraging combined expertise and resources to innovate and meet evolving consumer demands. These collaborative efforts not only stimulate product diversification but also strengthen market competitiveness. Together, these factors underscore a dynamic landscape where digital innovation, strategic partnerships, and enhanced consumer convenience converge to propel market growth and shape its future trajectory. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the market forecast report includes historic market data from 2018 - 2022.
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The market share growth by the desktop segment will be significant during the forecast period. The primary factor driving the segment growth is that desktop devices offer a better experience as they have bigger display screens compared with mobile devices.
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The desktop segment was valued at USD 108.29 billion in 2018. Most online gambling offerings are web-based, which are better experienced on desktops. Although many vendors have optimized their offerings for mobile devices and have developed apps for mobile platforms, users still prefer desktops for a better experience. Therefore, owing to these factors the segment in the global market will grow during the forecast period.
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APAC is estimated to contribute 40% 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. The market in the region is experiencing rapid growth due to the increasing prevalence of mobile application platforms. The United States plays a pivotal role in leading the market in North America. The surge in online gambling through websites and applications, coupled with the widespread use of smartphones, has facilitated the introduction of online-based gambling by companies. Notably, Lotto.com Inc. unveiled the first digital platform in New Jersey in 2021, allowing lottery ticket purchases from any device without the need for an app or pre-deposited amounts. Similarly, in January 2020, BetAmerica launched an online sports betting platform in Pennsylvania. These developments contribute to the expected growth of the regional market in the forecast period.
Traditional favorites like slots and poker are thriving in the digital realm, especially in regions like Great Britain. Technological advancements such as virtual reality (VR) and blockchain are reshaping the landscape, providing immersive experiences and enhanced security. Major players like Kindred and Betway leverage advanced platforms like OpenSports to deliver diverse gaming experiences. Partnerships with entities like Neteller and Grand Traverse Band of Ottawa facilitate seamless transactions and sponsorships, driving growth and innovation in the digital gambling sector.
The market is experiencing a remarkable surge in digital adoption, driven by advancements in internet infrastructure, mobile connectivity, and sophisticated gaming platforms. This surge has revolutionized how users access and engage with betting and gaming services, reshaping the online gambling landscape. Enhanced internet infrastructure has expanded the reach and reliability of online gambling platforms, facilitating seamless access from various devices regardless of location. Mobile connectivity has further fueled this trend, enabling users to access gambling services on smartphones and tablets, effectively transforming their devices into portable casinos. Leading operators like Betway and 888 Casino offer dedicated apps and mobile-optimized websites, providing users with a diverse range of betting options and casino games. Advanced gaming platforms leverage cutting-edge technologies to deliver immersive experiences, featuring live dealer interactions, high-definition graphics, and seamless gameplay. Integration of VR and AR technologies in online casinos enhances user engagement, offering realistic and interactive gaming environments.
The market has witnessed a significant uptick in collaborative efforts aimed at introducing new games, highlighting a strategic partnership among industry players to diversify the range of gaming options available. This trend reflects the industry's dedication to innovation, inclusivity, and elevating user experiences, as evidenced by various collaborations focused on introducing a broad spectrum of engaging games to the online gambling arena. For example, in June 2023, Betsson AB partnered with Groupe Partouche to launch online casino services in Belgium, leveraging Groupe Partouche's market dominance in traditional casinos and Betsson's online gaming expertise to tailor offerings specifically for the Belgian market with desktop. Similarly, Bet365 Group Ltd entered partnerships with Casino Queen Marquette and Gaming Realms plc to introduce Bet365 in Iowa and integrate Gaming Realms' online gaming content, respectively. Furthermore, strategic alliances have extended to the incorporation of branded and themed games, resulting in the introduction of slot games inspired by popular movies, television shows, and cultural phenomena.
The market faces significant challenges due to the increasing issues in online data security, hampering its growth. It encounters security and credibility concerns, including the absence of proper dispute resolution frameworks, lack of transparency in cash prize payouts, and insufficient fair and responsible casino gaming standards. These factors diminish the credibility of gambling operators and platform providers, adversely affecting the expansion of the casino business and deterring new users from participating in gambling activities like casinos and poker.
Additionally, online gambling websites are susceptible to cyber threats, with attackers targeting vital user information such as bank details and credit card numbers. The lack of advanced cybersecurity technologies in some offshore-run internet casinos further heightens the risk of cyberattacks. Consequently, these issues are anticipated to impede the global market's growth in the forecast period.
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.
Betsson AB - The company offers online gambling that includes gambling products such as casinos, poker, bingo, sports betting, and scratch cards.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market 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 increasing adoption of internet technology and rising internet penetration rates worldwide are expanding the user base for online gambling platforms. This trend is further fueled by the convenience and accessibility offered, allowing users to access a wide range of games, including slots, poker, and sports betting, from the comfort of their own homes or on the go via mobile devices. Moreover, the emergence of innovative technologies such as virtual reality (VR), augmented reality (AR), and blockchain is revolutionizing the experience, and enhancing user engagement and immersion. Integration of artificial intelligence (AI) algorithms improves user experience through personalized recommendations and predictive analytics, while blockchain technology ensures transparency and security in transactions. Furthermore, strategic partnerships and sponsorships with prominent sports organizations and events, such as the FIFA World Cup and European Championships, enhance brand visibility and attract a larger audience to online gambling platforms. Additionally, continuous product innovation software providers, such as 888 Holding PLC and Groupe Partouche, introduce new games and features, driving user retention and revenue growth.
However, the online gambling market also faces challenges, including regulatory restrictions, gambling bans, and concerns about pathological gambling and mental health issues. Regulatory frameworks and compliance measures imposed by government authorities, such as the European Gaming & Betting Association and Telecommunications Regulatory Authority, impact market dynamics and require online gambling operators to adhere to strict regulations to ensure responsible gambling practices and consumer protection. Overall, the market is expected to continue its growth trajectory, driven by technological advancements, expanding user base, strategic partnerships, and product innovations, while facing regulatory challenges and addressing concerns about responsible gambling and consumer welfare.
Additionally, the convergence of land-based casinos, virtual reality, and blockchain technologies has revolutionized the casino gambling industry, while the Argentine Football Association and films continue to captivate local culture and entertainment. In Crete, the integration of mobile gambling, online payment methods, and popular games like Slingo Rainbow Riches and Slingo Lobstermania intersect with concerns about chronic stress, hypertension, and the pervasive influence of streaming content and television programs.
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Market Scope |
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Report Coverage |
Details |
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Page number |
164 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 11.96% |
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Market Growth 2024-2028 |
USD 181.47 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
10.15 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 40% |
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Key countries |
US, Canada, China, UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
1XBet, 888 Holdings Plc, Ballys Corp., Bet365 Group Ltd., Betfred Group, BetOnline, Betsson AB, Camelot UK Lotteries Ltd., Cherry Spelgladje AB, Churchill Downs Inc., Entain Plc, Flutter Entertainment Plc, Fortuna Entertainment Group AS, INTRALOT SA, Kindred Group Plc, MGM Resorts International, Rank Group Plc, Scientific Games LLC, Sportech Plc, Sportpesa, Super Group SGHC Ltd., The Stars Group Inc., Winamax, and Galaxy Entertainment Group Ltd. |
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Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Device
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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