Online Gambling & Betting Market - Global Industry Analysis

Online Gambling & Betting Market By Game Form (Poker, Casino, Sports Betting, Bingo, Lottery, and Others). By Device (Desktop, Mobile, and others). By Components (Software and Services). and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022-2028

Published Date: 05-May-2022 Category: Technology & Media Report Format : PDF Pages: 150 Report Code: ZMR-1776 Status : Published

The Online Gambling & Betting Market was worth around USD 61.5billion in 2021 and is estimated to grow to about USD 114.4 billion by 2028, with a (CAGR) of approximately 10.9 percent over the forecast period. this report provides also an online casino, futures, and Capitalization Analysis

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Description

Industry Prospective:

The Online Gambling & Betting Market was worth around USD 61.5billion in 2021 and is estimated to grow to about USD 114.4 billion by 2028, with a compound annual growth rate (CAGR) of approximately 10.9 percent over the forecast period. The report analyzes the Online Gambling & Betting 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 Gambling & Betting Market

Online Gambling & Betting Market: Overview

Online gambling is defined as wagering on casino or sports-type games over the internet. The market demand for digital gambling is being driven by the increasing adoption of smartphones, developments in internet technology, and increased spending power of individuals, among other factors. In addition, players' curiosity will be piqued as online gambling software vendors spend extensively on new technology to improve the user experience. During the forecast period, the online gambling sector is predicted to profit from a rise in female casino patronage as well as the convenience of using a cashless method of payment when gaming. The industry's growth is also being fuelled by the increased development of new technologies such as virtual reality and blockchain. Moreover, operators are generating a number of exciting tournaments and promotions that may be of interest to newcomers, and bonus programs and betting options are rising every day. The market will continue to rise as a result of this. The growing number of sports fans throughout the world has fueled the desire for sports betting. The sector is driven by sports such as boxing, baseball, football, and hockey, which account for the majority of bets.

Covid-19 Impact

The Covid-19 outbreak has wreaked havoc on a number of worldwide industries. The coronavirus outbreak has imposed a slew of limitations on land-based gambling venues. The offline gaming industry has been badly harmed by, among other things, restrictions on public transit, tourism, and public gatherings. This circumstance, on the other hand, is having a favorable impact on the online gaming sector. It has boosted the demand for internet-based gambling in a number of countries. The sector is predicted to grow as a result of university closures and the growing adoption of work-from-home regulations. During the pandemic-induced lockdown, non-essential services were shut down, which drove user adoption of mobile gaming. As a result, the market grew at a phenomenal rate throughout the pandemic crisis. Furthermore, in the post-pandemic phase, the market is predicted to rise at a significant CAGR.

Global Online Gambling & Betting Market

Online Gambling & Betting Market: Driver

Online gambling software market growth will be fuelled by the ease of making payments online.

Payment methods have become easier for users and online gamers as digital and mobile payments have been more widely accepted. Furthermore, online payment services provide a secure and safe way of transaction, which has boosted their use in the online gaming business. Furthermore, the more straightforward and convenient payment options encourage players to participate in the gambling sector. The convenience of remote payments opens up a world of possibilities for online gamblers to promote and drive cash flow. E-wallet services for online gaming are also available from firms like PayPal and Neteller. Furthermore, Neteller offers transactions in 26 different currencies with no transaction fees. As a result, the availability of safe digital payment methods is projected to boost virtual gaming demand.

Online Gambling & Betting Market: Restraint

Increased negative mental health effects and online gambling bans may stifle market growth.

Users' increasing use of internet-based gambling is having negative consequences for their mental health. The user's ability to retain mental equilibrium is being challenged by his or her growing addiction to the readily available internet-based gambling platforms. The number of suicides has been rising year after year as a result of this addiction. Pathological gambling, often known as compulsive gambling, is another addictive gambling impact. The long-term repercussions of this type of gaming could lead to conditions including chronic stress and hypertension. In addition, because to the heightened danger of compulsive gambling behavior, a number of countries have banned gambling websites. Gambling bans have been enacted in countries like Russia, the United Arab Emirates, Qatar, and Poland. Furthermore, certain countries, including India, Singapore, Japan, and others, are likely to prohibit gambling. All of these important concerns are expected to stifle market growth.

Report Scope:

Report Attribute	Details
Base Year	2020
Historic Years	2016 - 2020
Forecast Years	2021 - 2028
Segments Covered	By Product Type, By Application, and By End Use
Forecast Units	Value (USD Billion), and Volume (Units)
Quantitative Units	Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered	U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered	10 companies with scope for including additional 15 companies upon request
Report Coverage	Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope	Avail customized purchase options to meet your exact research needs.

Online Gambling & Betting Market: Segmentation

The Online Gambling & Betting Market is segregated based on Game Form, Device, and Component.

By Game Form, the market is classified into Poker, Casino, Sports Betting, Bingo, Lottery, and Others. During the projection period, sports betting is expected to dominate the industry. The increased popularity of online gaming and betting is expected to fuel demand for sports betting. Sponsorships in online sports betting are also expected to increase, which will aid in the growth of this business. Furthermore, in the Asia Pacific, rising disposable income has led to increased spending capacity, which is likely to add to sector growth. Some of the most popular types of internet sports betting include live-action betting and fixed-odds betting.

By Device, the market is classified into Desktop, Mobile, and others. During the forecast period, the desktop is projected to be the most popular because it offers superior graphic design, clear image quality, and more storage space, among other things, which improves the customer experience. These are the primary contributors to growth, which will assist the industry to grow as well. When compared to mobile phones and other devices, PCs have a larger screen size, allowing gamblers to enjoy the game's aesthetics and fine features. For a better gaming experience, desktop performance variables like screen clarity, sound volume, and storage capacity may all be changed. These factors have contributed to the growth of the desktop market.

Recent Developments

In 2021, DraftKings Inc. and Golden Nugget Online Gaming Inc. have agreed to an all-stock deal in which DraftKings will acquire Golden Nugget Online Gaming. As a consequence of the acquisition, DraftKings gained access to Golden Nugget's well-known brand, iGaming product experience, and combined database of more than 5 million consumers.
In 2021, Flutter Entertainment and Playtech have agreed to extend their collaboration for another five years. Playtech will expand its technology to serve Flutter brands such as Paddy Power, Betfair, and Sky Casino under the new arrangement.

Regional Landscape

Europe dominated the market in the forecast period. The legalization of gambling in nations like France, Germany, Spain, Malta, and Italy has fueled the expansion. The increased use of smartphones, the availability of high-speed internet, and the growing popularity of online casinos are all positive factors for market growth. Furthermore, the UK Gaming Commission (UKGC) established the Gambling Act 2005, which allows corporations to advertise their gambling sites, helping the growth of the sector in the region.

Meanwhile, throughout the forecast period, the market in Asia Pacific is predicted to develop due to the increasing use of internet services and the loosening of rules governing online betting and gambling. Furthermore, the rising popularity of bitcoins has led to an increase in the use of digital currency for betting in the region. Over the projected period, the Asia Pacific region's high economic growth, combined with increased expenditure on leisure activities, is likely to drive market expansion.

Competitive Landscape

Some of the main competitors dominating the Online Gambling & Betting Market include - Bet365 Group Ltd., Betfred Ltd., 888 Holdings plc., Paddy Power Betfair plc, GVC Holdings plc, Fortuna Entertainment Group, and Others.

Online Gambling & Betting Market is segmented as follows:

By Game Form

Poker
Casino
Sports Betting
Bingo
Lottery
Others

By Device

Desktop
Mobile
Others

By Component

Software
Services

By Region

North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa

Table Of Content

Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
  - 1.3.1 Market Research Type
  - 1.3.2 Market research methodology
Chapter 2. Executive Summary
- 2.1 Global Online Gambling & Betting Market, (2022 - 2028) (USD Billion)
- 2.2 Global Online Gambling & Betting Market : snapshot
Chapter 3. Global Online Gambling & Betting Market - Industry Analysis
- 3.1 Online Gambling & Betting Market: Market Dynamics
- 3.2 Market Drivers
  - 3.2.1 Online gambling software market growth will be fuelled by the ease of making payments online.
- 3.3 Market Restraints
  - 3.3.1. Increased negative mental health effects and online gambling bans may stifle market growth.
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
  - 3.7.1 Market attractiveness analysis By Game Form
  - 3.7.2 Market attractiveness analysis By Device
  - 3.7.3 Market attractiveness analysis By Component
Chapter 4. Global Online Gambling & Betting Market- Competitive Landscape
- 4.1 Company market share analysis
  - 4.1.1 Global Online Gambling & Betting Market: company market share, 2021
- 4.2 Strategic development
  - 4.2.1 Acquisitions & mergers
  - 4.2.2 New Product launches
  - 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
  - 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
Chapter 5. Global Online Gambling & Betting Market - Game Form Analysis
- 5.1 Global Online Gambling & Betting Market overview: By Game Form
  - 5.1.1 Global Online Gambling & Betting Market share, By Game Form, 2021 and 2028
- 5.2 Poker
  - 5.2.1 Global Online Gambling & Betting Market by Poker, 2022 - 2028 (USD Billion)
- 5.3 Casino
  - 5.3.1 Global Online Gambling & Betting Market by Casino, 2022 - 2028 (USD Billion)
- 5.4 Sports Betting
  - 5.4.1 Global Online Gambling & Betting Market by Sports Betting, 2022 - 2028 (USD Billion)
- 5.5 Bingo
  - 5.5.1 Global Online Gambling & Betting Market by Bingo, 2022 - 2028 (USD Billion)
- 5.6 Lottery
  - 5.6.1 Global Online Gambling & Betting Market by Lottery, 2022 - 2028 (USD Billion)
- 5.7 Others
  - 5.7.1 Global Online Gambling & Betting Market by Others, 2022 - 2028 (USD Billion)
Chapter 6. Global Online Gambling & Betting Market - Device Analysis
- 6.1 Global Online Gambling & Betting Market overview: By Device
  - 6.1.1 Global Online Gambling & Betting Market share, By Device, 2021 and 2028
- 6.2 Desktop
  - 6.2.1 Global Online Gambling & Betting Market by Desktop, 2022 - 2028 (USD Billion)
- 6.3 Mobile
  - 6.3.1 Global Online Gambling & Betting Market by Mobile, 2022 - 2028 (USD Billion)
- 6.4 Others
  - 6.4.1 Global Online Gambling & Betting Market by Others, 2022 - 2028 (USD Billion)
Chapter 7. Global Online Gambling & Betting Market - Component Analysis
- 7.1 Global Online Gambling & Betting Market overview: By Component
  - 7.1.1 Global Online Gambling & Betting Market share, By Component, 2021 and 2028
- 7.2 Software
  - 7.2.1 Global Online Gambling & Betting Market by Software, 2022 - 2028 (USD Billion)
- 7.3 Services
  - 7.3.1 Global Online Gambling & Betting Market by Services, 2022 - 2028 (USD Billion)
Chapter 8. Online Gambling & Betting Market - Regional Analysis
- 8.1 Global Online Gambling & Betting Market Regional Overview
- 8.2 Global Online Gambling & Betting Market Share, by Region, 2021 & 2028 (USD Billion)
- 8.3. North America
  - 8.3.1 North America Online Gambling & Betting Market, 2022 - 2028 (USD Billion)
    - 8.3.1.1 North America Online Gambling & Betting Market, by Country, 2022 - 2028 (USD Billion)
- 8.4 North America Online Gambling & Betting Market, by Game Form, 2022 - 2028
  - 8.4.1 North America Online Gambling & Betting Market, by Game Form, 2022 - 2028 (USD Billion)
- 8.5 North America Online Gambling & Betting Market, by Device, 2022 - 2028
  - 8.5.1 North America Online Gambling & Betting Market, by Device, 2022 - 2028 (USD Billion)
- 8.6 North America Online Gambling & Betting Market, by Component, 2022 - 2028
  - 8.6.1 North America Online Gambling & Betting Market, by Component, 2022 - 2028 (USD Billion)
- 8.4. Europe
  - 8.4.2 Europe Online Gambling & Betting Market, 2022 - 2028 (USD Billion)
    - 8.4.2.1 Europe Online Gambling & Betting Market, by Country, 2022 - 2028 (USD Billion)
- 8.4 Europe Online Gambling & Betting Market, by Game Form, 2022 - 2028
  - 8.4.1 Europe Online Gambling & Betting Market, by Game Form, 2022 - 2028 (USD Billion)
- 8.5 Europe Online Gambling & Betting Market, by Device, 2022 - 2028
  - 8.5.1 Europe Online Gambling & Betting Market, by Device, 2022 - 2028 (USD Billion)
- 8.6 Europe Online Gambling & Betting Market, by Component, 2022 - 2028
  - 8.6.1 Europe Online Gambling & Betting Market, by Component, 2022 - 2028 (USD Billion)
- 8.5. Asia Pacific
  - 8.5.3 Asia Pacific Online Gambling & Betting Market, 2022 - 2028 (USD Billion)
    - 8.5.3.1 Asia Pacific Online Gambling & Betting Market, by Country, 2022 - 2028 (USD Billion)
- 8.4 Asia Pacific Online Gambling & Betting Market, by Game Form, 2022 - 2028
  - 8.4.1 Asia Pacific Online Gambling & Betting Market, by Game Form, 2022 - 2028 (USD Billion)
- 8.5 Asia Pacific Online Gambling & Betting Market, by Device, 2022 - 2028
  - 8.5.1 Asia Pacific Online Gambling & Betting Market, by Device, 2022 - 2028 (USD Billion)
- 8.6 Asia Pacific Online Gambling & Betting Market, by Component, 2022 - 2028
  - 8.6.1 Asia Pacific Online Gambling & Betting Market, by Component, 2022 - 2028 (USD Billion)
- 8.6. Latin America
  - 8.6.4 Latin America Online Gambling & Betting Market, 2022 - 2028 (USD Billion)
    - 8.6.4.1 Latin America Online Gambling & Betting Market, by Country, 2022 - 2028 (USD Billion)
- 8.4 Latin America Online Gambling & Betting Market, by Game Form, 2022 - 2028
  - 8.4.1 Latin America Online Gambling & Betting Market, by Game Form, 2022 - 2028 (USD Billion)
- 8.5 Latin America Online Gambling & Betting Market, by Device, 2022 - 2028
  - 8.5.1 Latin America Online Gambling & Betting Market, by Device, 2022 - 2028 (USD Billion)
- 8.6 Latin America Online Gambling & Betting Market, by Component, 2022 - 2028
  - 8.6.1 Latin America Online Gambling & Betting Market, by Component, 2022 - 2028 (USD Billion)
- 8.7. The Middle-East and Africa
  - 8.7.5 The Middle-East and Africa Online Gambling & Betting Market, 2022 - 2028 (USD Billion)
    - 8.7.5.1 The Middle-East and Africa Online Gambling & Betting Market, by Country, 2022 - 2028 (USD Billion)
- 8.4 The Middle-East and Africa Online Gambling & Betting Market, by Game Form, 2022 - 2028
  - 8.4.1 The Middle-East and Africa Online Gambling & Betting Market, by Game Form, 2022 - 2028 (USD Billion)
- 8.5 The Middle-East and Africa Online Gambling & Betting Market, by Device, 2022 - 2028
  - 8.5.1 The Middle-East and Africa Online Gambling & Betting Market, by Device, 2022 - 2028 (USD Billion)
- 8.6 The Middle-East and Africa Online Gambling & Betting Market, by Component, 2022 - 2028
  - 8.6.1 The Middle-East and Africa Online Gambling & Betting Market, by Component, 2022 - 2028 (USD Billion)
Chapter 9. Company Profiles
- 9.1 Bet365 Group Ltd.
  - 9.1.1 Overview
  - 9.1.2 Financials
  - 9.1.3 Product Portfolio
  - 9.1.4 Business Strategy
  - 9.1.5 Recent Developments
- 9.2 Betfred Ltd.
  - 9.2.1 Overview
  - 9.2.2 Financials
  - 9.2.3 Product Portfolio
  - 9.2.4 Business Strategy
  - 9.2.5 Recent Developments
- 9.3 888 Holdings plc.
  - 9.3.1 Overview
  - 9.3.2 Financials
  - 9.3.3 Product Portfolio
  - 9.3.4 Business Strategy
  - 9.3.5 Recent Developments
- 9.4 Paddy Power Betfair plc
  - 9.4.1 Overview
  - 9.4.2 Financials
  - 9.4.3 Product Portfolio
  - 9.4.4 Business Strategy
  - 9.4.5 Recent Developments
- 9.5 GVC Holdings plc
  - 9.5.1 Overview
  - 9.5.2 Financials
  - 9.5.3 Product Portfolio
  - 9.5.4 Business Strategy
  - 9.5.5 Recent Developments
- 9.6 Fortuna Entertainment Group
  - 9.6.1 Overview
  - 9.6.2 Financials
  - 9.6.3 Product Portfolio
  - 9.6.4 Business Strategy
  - 9.6.5 Recent Developments

Table Of Figures

1. Market research Type
2. Market research methodology
3. Global Online Gambling & Betting Market, 2022 - 2028 (USD Billion)
4. Porter’s Five Forces Analysis
5. Global Online Gambling & Betting Market attractiveness, By Game Form
6. Global Online Gambling & Betting Market attractiveness, By Device
7. Global Online Gambling & Betting Market attractiveness, By Component
8. Global Online Gambling & Betting Market share by Game Form, 2022 and 2028 (USD Billion)
9. Global Online Gambling & Betting Market by Poker, 2022 - 2028 (USD Billion)
10. Global Online Gambling & Betting Market by Casino, 2022 - 2028 (USD Billion)
11. Global Online Gambling & Betting Market by Sports Betting, 2022 - 2028 (USD Billion)
12. Global Online Gambling & Betting Market by Bingo, 2022 - 2028 (USD Billion)
13. Global Online Gambling & Betting Market by Lottery, 2022 - 2028 (USD Billion)
14. Global Online Gambling & Betting Market by Others, 2022 - 2028 (USD Billion)
15. Global Online Gambling & Betting Market share by Device, 2022 and 2028 (USD Billion)
16. Global Online Gambling & Betting Market by Desktop, 2022 - 2028 (USD Billion)
17. Global Online Gambling & Betting Market by Mobile, 2022 - 2028 (USD Billion)
18. Global Online Gambling & Betting Market by Others, 2022 - 2028 (USD Billion)
19. Global Online Gambling & Betting Market share by Component, 2022 and 2028 (USD Billion)
20. Global Online Gambling & Betting Market by Software, 2022 - 2028 (USD Billion)
21. Global Online Gambling & Betting Market by Services, 2022 - 2028 (USD Billion)
22. Global Online Gambling & Betting Market share, by Region, 2022 and 2028
23. North America Online Gambling & Betting Market, 2022 - 2028 (USD Billion)
24. Europe Online Gambling & Betting Market, 2022 - 2028 (USD Billion)
25. Asia Pacific Online Gambling & Betting Market, 2022 - 2028 (USD Billion)
26. Latin America Online Gambling & Betting Market, 2022 - 2028 (USD Billion)
27. The Middle-East and Africa Online Gambling & Betting Market, 2022 - 2028 (USD Billion)

Table Of Tables

1. Global Online Gambling & Betting Market: Snapshot
2. Drivers of the Online Gambling & Betting Market: impact analysis
3. North America Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
4. North America Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
5. North America Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
6. U.S. Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
7. U.S. Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
8. U.S. Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
9. Canada Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
10. Canada Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
11. Canada Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
12. Europe Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
13. Europe Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
14. Europe Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
15. Germany Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
16. Germany Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
17. Germany Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
18. France Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
19. France Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
20. France Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
21. U.K. Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
22. U.K. Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
23. U.K. Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
24. Italy Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
25. Italy Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
26. Italy Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
27. Spain Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
28. Spain Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
29. Spain Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
30. Rest of Europe Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
31. Rest of Europe Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
32. Rest of Europe Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
33. Asia Pacific Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
34. Asia Pacific Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
35. Asia Pacific Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
36. China Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
37. China Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
38. China Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
39. Japan Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
40. Japan Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
41. Japan Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
42. India Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
43. India Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
44. India Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
45. South Korea Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
46. South Korea Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
47. South Korea Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
48. South-East Asia Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
49. South-East Asia Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
50. South-East Asia Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
51. Rest of Asia Pacific Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
52. Rest of Asia Pacific Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
53. Rest of Asia Pacific Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
54. Latin America Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
55. Latin America Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
56. Latin America Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
57. Brazil Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
58. Brazil Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
59. Brazil Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
60. Mexico Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
61. Mexico Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
62. Mexico Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
63. Rest of Latin America Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
64. Rest of Latin America Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
65. Rest of Latin America Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
66. The Middle-East and Africa Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
67. The Middle-East and Africa Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
68. The Middle-East and Africa Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
69. GCC Countries Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
70. GCC Countries Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
71. GCC Countries Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
72. South Africa Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
73. South Africa Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
74. South Africa Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)
75. Rest of Middle-East Africa Online Gambling & Betting Market revenue, By Game Form, 2022 - 2028 (USD Billion)
76. Rest of Middle-East Africa Online Gambling & Betting Market revenue, By Device, 2022 - 2028 (USD Billion)
77. Rest of Middle-East Africa Online Gambling & Betting Market revenue, By Component, 2022 - 2028 (USD Billion)

Methodology

Free Analysis

Online gambling is known as internet gambling, it makes use of an online platform for various games and betting such as poker, blackjack, roulette, sports betting, race betting, lottery, bingo, etc. Money is transferred by credit & debit cards, electronic check, money orders, and cryptocurrencies.

The online gambling and betting market is expected to propel owing to its legalization in the U.S., the UK, France, Poland, Italy, Czech Republic, Malta, and the other European nations. Further, proposals are being raised in parliaments of the Netherlands, Russia, Germany, Asia Pacific countries to legalize online gambling. Increase in the number of internet users is driving the online gambling & betting market. In 2016, about 46% of the global population had access to the internet as compared to 43.5% in 2015. The number is anticipated to rise due to digitalization in the Asia Pacific region. Thus, the growth of the online gambling & betting market is evident in the near future.

Global Online Gambling Betting Market

Technological developments are anticipated to fuel the growth of online gambling & betting market. Adoption of the ”Virtual Reality (VR)” headsets by various casinos to provide a better experience in online gambling is propelling the market growth. In 2015, Slots Million online casino was one of the first to use VR technology. With the rising investments in VR technology, it is imminent that the online gambling market will propel during the forecast period. However, rising cyber attacks can prove to be a restraining factor to the growth of online gambling & betting market. The attack on E-Sports Entertainment Association in 2016 resulted in 1.5 million profiles being hacked. It is evident that cybersecurity is essential for online gambling.

The online gambling & betting market is segmented into game form, component, and region. Based on game form, the global online gambling & betting market is divided into poker, casino, sports betting, bingo, lottery, horse racing betting, and others. Poker segment is projected to grow at a substantial rate during the estimated period owing to the rise of social gaming.

North America is expected to hold a substantial share in the global online gambling & betting market during the projected timeframe. As North America is the most technologically advanced region the market growth is evident. Further, the U.S. was one of the first nations to legalize online gambling in some cities. Thus, it is anticipated that North America will make a noteworthy contribution to the rise of global online gambling & betting market during the forecast period.

Some of the top players in the online gambling & betting market are Bet365 Group Ltd., Betfred Ltd., 888 Holdings Plc, Paddy Power Betfair Plc, GVC Holdings Plc, Fortuna Entertainment Group, The Stars Group, The Betway Group, William Hill Plc, Kindred Group, Rank Group, Playtech, William Hill Plc, Hong Kong Jockey Club, and mybet Holding, among others.

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FrequentlyAsked Questions

Which key factors will influence Online Gambling & Betting Market growth over 2022-2028?

The market demand for digital gambling is being driven by the increasing adoption of smartphones, developments in internet technology, and increased spending power of individuals, among other factors. In addition, players' curiosity will be piqued as online gambling software vendors spend extensively on new technology to improve the user experience.

What will be the value of the Online Gambling & Betting Market during 2022-2028?

According to the Market Research report, the Online Gambling & Betting Market was worth about 61.5 (USD billion) in 2021 and is predicted to grow to around 114.4 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 10.9 percent.