|Market Size in 2022||Market Forecast in 2030||CAGR (in %)||Base Year|
|USD 86.2 Billion||USD 237.5 Billion||13.5%||2022|
Online Poker Market
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. The report analyzes the global online poker market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the online poker industry.
A deck of cards is used in the well-known card game of poker, in which players fight against one another by placing bets based on the card values in their distinctive poker hands. Players have two options after the poker game is over: they can exchange their chips for cash or use a formula to decide the winner. Players use coins to place wagers. Since it was first created and was originally played traditionally, poker has changed. Players can now play poker from the comfort of their homes on a variety of online poker gaming sites. Live Dealer Poker games are gaining recognition and attracting a lot of players due to their distinctive and captivating playing styles.
The appeal of live poker games, such as 2 Hand Casino Hold'em, Texas Hold'em Bonus Poker, Live Caribbean Stud Poker Evolution, Live Casino Hold'em Evolution, etc., has grown significantly in recent years. Poker players consistently seem to find it exciting & comfortable to play against live dealers while seated in the comfort of their homes in a realistic casino gaming environment.
Increasing adoption of smartphones and rising internet penetration drives market
The increasing adoption of smartphones and rising internet penetration is expected to drive the growth of the market during the forecast period. For instance, according to the GSMA, a mobile phone is now used by more than two-thirds of the world's population, with 5.44 billion "unique" mobile users in January 2023. The number of cellular connections connected to smartphones is growing, and the most recent statistics show that smartphones now make up about 4 in 5 of the mobile phones currently in use worldwide. Similarly, according to the same source, by the beginning of 2023, 5.16 billion people will be using the internet worldwide, or 64.4 percent of the world's population. Internet users continue to grow too, with the latest data indicating that the world’s connected population grew by close to 100 million users in the 12 months to January 2023. Thus, the aforementioned facts support the global online poker market growth during the forecast period.
Adverse impact on mental health impedes the market growth
Online gambling is becoming more and more popular, which is having a negative impact on mental health. The growing addiction to widely accessible online gambling platforms makes it difficult for users to keep their mental equilibrium. Owing to this addiction, the number of suicide cases has been increasing year after year. Thus, this is expected to act as a major restraining factor for the online poker industry expansion over the forecast period.
Adoption of blockchain technology
The adoption of blockchain technology has also had a big impact on the global online poker market expansion. In addition to conventional payment methods, blockchain payments are now being accepted by gambling apps and websites. For instance, BitStarz, a site for bitcoin gambling, has about 4 million regular users. The blockchain can ensure secure payments with transparency in gambling activity through blockchain ledgers. Gambling through cryptocurrency offers vast opportunities as they are fast and safe transactions. With fewer regulations and restrictions for cryptocurrency transactions, they are now widely used by users in online gambling. Thus, the adoption of blockchain technologies is expected to provide an attractive opportunity for market expansion over the forecast period.
Bans on online gambling pose a major challenge
The bans on online gambling are expected to pose a major challenge to the market growth over the forecast period. Due to the increased risk of problematic gambling behavior, many nations have outlawed gambling websites. Countries such as Russia, UAE, Qatar, and others have imposed bans on gambling. Thus, acting as a major challenge.
The global online poker industry is segmented based on device type, end-user, and region.
Based on the device type, the global market 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.
On the other hand, the mobile segment is expected to grow at the highest CAGR over the forecast period. Advanced mobile phone technologies have resulted in realistic gaming visuals in smartphones, resulting in greater access to internet gambling via mobile phones. For example, betting apps such as Khelo365, Spartan Poker, Replay Poker, and others are available on iOS and Android devices. The segment's development is aided by the widespread availability of low-cost mobile phones, as well as modern features such as improved graphics and expandable storage capacity. Mobile gambling offers numerous benefits to users, including remote play, loyalty points, additional deposit options, and multiplayer gaming options. Thus, this is expected to drive the growth of the segment.
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.
|Report Attributes||Report Details|
|Report Name||Online Poker Market Research Report|
|Market Size in 2022||USD 86.2 Billion|
|Market Forecast in 2030||USD 237.5 Billion|
|Compound Annual Growth Rate||CAGR of 13.5%|
|Number of Pages||197|
|Key Companies Covered||The 888 Group, PokerStars, GGPoker, Partypoker, Ignition Casino, Tencent, Playtika LTD, Zynga Inc., Arkadium, Baazi Games, Quadrific Media Pvt Ltd., Pocket52, BLITZ POKER, Americas Cardroom, BetOnline, Every game, True Poker, Bovada and Juicy Stakes among others.|
|Segments Covered||By Device Type, By End-User, And By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2017 to 2021|
|Forecast Year||2023 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Europe is expected to dominate the market during the forecast period
Europe is expected to dominate the market during the forecast period. The growth in the region is attributed to the legalization of gambling games such as poker, sports betting, and others. These games are very popular in countries including Spain, Italy, France, and Germany. Moreover, the presence of high-speed internet coupled with the growing penetration of smartphones is another important factor that propels the market expansion in the region. For instance, as per Eurostat, the European Commission established a 2030 goal to have gigabit connectivity in every EU home and 5G coverage in every populated region.
The rollout of fixed very high-capacity network (VHCN) networks across the EU has already made major progress. Compared to 2013, only 16% of EU homes had access to high-speed internet in 2021. Low-density regions saw an improvement in VHCN connectivity as well. In the EU, the percentage of households with fixed VCHN connections grew from 4% to 37% between 2013 and 2021 in low-density areas. Despite these advancements, entry levels vary considerably between EU Member States as well as within many Member States depending on population density. In addition, according to the GSMA, Mobile technologies, and services contributed 4.6% of Europe's GDP in 2020, adding more than €740 billion in worth to the economy.
The mobile ecosystem also contributed significantly to the financing of the public sector, raising €84 billion in tax revenue, and supporting about 2.4 million employment (directly and indirectly). Up until 2030, 5G technologies will significantly boost the region's economy and affect important sectors like industry and public administration. Thus, these facts support the market expansion over the forecast period.
North America is expected to grow significantly during the forecast period. The regional growth is attributed to the growing digitalization and secure mobile solutions. In the US, three states, namely, Nevada, Pennsylvania, and New Jersey have gambling regulations, which are driving the market app demand. For instance, in July 2021, "Gambling Responsibly America," a responsible gaming software, was released by Entain PLC. The program was created by EPIC Risk Management and RG24/7. The app will give users access to tools for assistance and education for anyone who may be having problems with gambling. Thereby, driving the market growth over the forecast period.
The Asia Pacific is expected to grow at the highest CAGR during the forecast period. The expanded use of internet services, the increasing number of smartphones, and the easing of regulations governing betting online and gambling. For instance, according to the World Economic Forum, Smartphone usage is quite widespread in the majority of emerging countries. Smartphone penetration is higher in countries like Singapore (87%), Malaysia (83%), and Thailand (75%). However, the Philippines will see the largest rise in the smartphone market in 2020—more than 90%. Similarly, by 2025, the amount of mobile data consumed in South and Southeast Asia will triple, from 9.2 GB to 28.9 GB per person per month, according to the GSMA. Additionally, the use of cryptocurrencies for gambling has also increased as a result of the acceptance of bitcoins. Increased spending on leisure activities is expected to drive market growth over the forecast period, along with Asia Pacific's strong economic growth.
The global online poker market is dominated by players like:
By Device Type
A deck of cards is used in the well-known card game of poker, in which players fight against one another by placing bets based on the card values in their distinctive poker hands. 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.
Expanding internet penetration, as well as an increase in the number of people using their mobile phones to play online games both at home and in public, are driving the industry. Furthermore, factors such as legal and societal acceptance, easy access to internet gambling, celebrity endorsements, and corporate sponsorships are encouraging industry growth.
According to the report, the global market size was worth around USD 86.2 billion in 2022 and is predicted to grow to around USD 237.5 billion by 2030.
The global online poker market is expected to grow at a CAGR of 13.5% during the forecast period.
The global online poker market growth is expected to be driven by Europe. It is currently the world’s highest revenue-generating market owing to the increasing penetration of smartphones along with high-speed internet infrastructure.
The global online poker market is dominated by players like GGPoker, the 888 Group, PokerStars, Partypoker, Ignition Casino, Tencent, Playtika LTD, Zynga Inc., Arkadium, Baazi Games, Quadrific Media Pvt Ltd., Pocket52, BLITZ POKER, Americas Cardroom, BetOnline, Every game, True Poker, Bovada and Juicy Stakes among others.