27-Mar-2023 | Zion Market Research
The global online poker market size was worth around USD 86.2 Billion in 2022 and is predicted to grow to around USD 237.5 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 13.5% between 2023 and 2030.
Online poker is extremely popular and will only increase in popularity as smartphones become more widely used, Bitcoin and other digital currencies become more widely accepted, and casino websites become more easily accessible. Aiming to promote the desired level of confidence in the online betting business, technological developments coexist with the annual expansion of online poker. In gaming, for example, virtual reality creates a simulation of the surroundings; users can interact with them in real-time using specialized equipment such as gloves equipped with sensors. VR offers a more realistic gaming experience, higher sound quality, and realistic game design, and allows players to interact with other players and merchants. By creating new potential for growth, VR has helped improve the gaming experience in the market.
The proliferation of smartphones and easy access to casino games around the world. In addition, the widespread use of digital currency in online games and the availability of various payment methods are also greatly influencing the growth of the global online poker market. Also, increasing internet density, technological advancement, and easy availability of cost-effective mobile applications for betting are other factors that increase the demand of the online poker market, which in turn increases the growth of the target market.
Additionally, the presence of technologically advanced platforms, rapidly changing gambling habits of consumers, and the legalization of gambling will also boost the growth of the online poker lottery games market during the said forecast period. Similarly, the increasing participation of players during the COVID-19 pandemic will increase the market demand. However, the market for online poker will be constrained during the forecasted period by the various regulatory frameworks and policies put in place against online gambling, as well as regulatory limitations to combat gambling addiction and demographic changes. On the other hand, data security and privacy concerns could pose a threat to the online poker industry's expansion. Furthermore, increasing usage of advanced technologies like virtual reality and augmented reality for online gambling along with heavy government investment to obtain benefits from online gambling tax will provide further growth opportunities for the online poker market during the forecast period.
The global online poker market is segmented based on device type, end-user, and region.
Based on the end-user, the global market is bifurcated into gambling enthusiasts, dabblers, and social exuberant. The gambling enthusiasts segment is anticipated to capture the highest market share over the forecast period. Online casinos allow people to pursue their hobbies right from their homes, from different devices, at any time of the day or night. Gambling enthusiasts who continue to learn the rules of various games like baccarat, poker, and blackjack to name a few can do so by playing free games or small-stakes games on different platforms. Over time, they can greatly improve their skills. Simply put, online casinos are a great option for gambling enthusiasts as they can win real money anytime, anywhere.
Based on the device type, the online poker industry is bifurcated into mobile and desktop. The desktop segment captures the largest market share during the forecast period. When compared to mobile phones and other devices, the desktop has a larger screen area that allows gamblers to appreciate the game's details and graphics. Furthermore, desktops' performance characteristics, such as audio quality, picture quality, and customizable storage capacity, enhance the gaming experience. These reasons have contributed to the expansion of the desktop-type segment.
Europe dominated the global online poker market in 2022. The legalization of gambling in several European countries, notably Italy, Malta, Spain, France, and Germany, is responsible for the development. High-speed internet access, the growing appeal of online casinos, and the increasing use of smartphones are other factors contributing to the market growth. Furthermore, companies can now advertise their gambling websites due to the Gambling Act 2005 implemented by the UKGC (UK Gambling Commission). This contributes to the growth of the market in the region. However, the Asia-Pacific market growth is forecast to be supported over the projection horizon by the increasing use of internet services as well as the easing of regulations on online gaming and betting.
This review is based on a report by Zion Market Research, titled “Online Poker Market By Device Type (Mobile and Desktop), By End-User (Gambling Enthusiasts, Dabblers, and Social Exuberant) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030.”- Report at https://www.zionmarketresearch.com/report/online-poker-market
The global online poker market is dominated by players like:
By Device Type
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