This report describes and explains the online gambling market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global online gambling market reached a value of nearly $88.7 billion in 2023, having grown at a compound annual growth rate (CAGR) of 10.4% since 2018. The market is expected to grow from $88.7 billion in 2023 to $151.9 billion in 2028 at a rate of 11.4%. The market is then expected to grow at a CAGR of 10.7% from 2028 and reach $252.6 billion in 2033.
Growth in the historic period resulted from the legalization of gambling, adoption of cryptocurrency, increasing adoption of online gaming and strong economic growth. Factors that negatively affected growth in the historic period were high taxation on casinos.
Going forward, the rise in smartphone adoption, increasing internet penetration, integration of artificial intelligence and rising popularity of online casinos will drive the market. Factors that could hinder the growth of the online gambling market in the future include escalation of cybersecurity threats.
The online gambling market is segmented by game type into betting, casino, lottery, poker, bingo and other game types. The betting market was the largest segment of the online gambling market segmented by game type, accounting for 47.3% or $42 billion of the total in 2023. Going forward, the casino segment is expected to be the fastest growing segment in the online gambling market segmented by game type, at a CAGR of 12.7% during 2023-2028.
The online gambling market is segmented by device into desktop, mobile and other devices. The desktop market was the largest segment of the online gambling market segmented by device, accounting for 45.4% or $40.2 billion of the total in 2023. Going forward, the mobile segment is expected to be the fastest growing segment in the online gambling market segmented by device, at a CAGR of 12.7% during 2023-2028.
Western Europe was the largest region in the online gambling market, accounting for 36.2% or $32.1 billion of the total in 2023. It was followed by North America, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the online gambling market will be South America and North America, where growth will be at CAGRs of 13.7% and 12.7% respectively. These will be followed by Africa and Eastern Europe, where the markets are expected to grow at CAGRs of 12.2% and 11.3% respectively.
The global online gambling market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 22.6% of the total market in 2022. Flutter Entertainment Plc was the largest competitor with a 9.2% share of the market, followed by Bet365 Group Ltd with 4.4%, Entain Plc with 3.1%, Kindred Group PLC with 1.4%, Betfred with 1.3%, DraftKings Inc with 1.1%, 888 Holdings PLC with 1%, Betsson AB with 0.7%, Rank Group plc with 0.3% and Pari Mutuel Urbain with 0.1%.
The top opportunities in the online gambling market segmented by game type will arise in the betting segment, which will gain $30.7 billion of global annual sales by 2028. The top opportunities in the online gambling market segmented by device will arise in the mobile segment, which will gain $30.6 billion of global annual sales by 2028. The online gambling market size will gain the most in the USA at $17 billion.
Market-trend-based strategies for the online gambling market include focus on strategic collaborations and sales partnerships, launch of new online sports betting brands, launch of innovative online gaming platforms and increased focus on mobile sports betting platforms.
Player-adopted strategies in the online gambling market include focus on expanding recreational customer base through new product solutions, focus on diversifying businesses by scaling up capabilities through new strategic partnerships and focus on expanding scalability, security and agility through new technology advancements.
To take advantage of the opportunities, the analyst recommends the online gaming companies to focus on online sports betting expansion, focus on innovative online gaming platforms, focus on mobile sports betting platforms, focus on casino segment, focus on mobile segment, focus on strategic partnerships, expand in emerging markets, continue to focus on developed markets, focus on data-driven personalization, focus on responsible gambling advocacy, focus on smartphone users and focus on targeting end users for enhanced engagement.
The global online gambling market reached a value of nearly $88.7 billion in 2023, having grown at a compound annual growth rate (CAGR) of 10.4% since 2018. The market is expected to grow from $88.7 billion in 2023 to $151.9 billion in 2028 at a rate of 11.4%. The market is then expected to grow at a CAGR of 10.7% from 2028 and reach $252.6 billion in 2033.
Growth in the historic period resulted from the legalization of gambling, adoption of cryptocurrency, increasing adoption of online gaming and strong economic growth. Factors that negatively affected growth in the historic period were high taxation on casinos.
Going forward, the rise in smartphone adoption, increasing internet penetration, integration of artificial intelligence and rising popularity of online casinos will drive the market. Factors that could hinder the growth of the online gambling market in the future include escalation of cybersecurity threats.
The online gambling market is segmented by game type into betting, casino, lottery, poker, bingo and other game types. The betting market was the largest segment of the online gambling market segmented by game type, accounting for 47.3% or $42 billion of the total in 2023. Going forward, the casino segment is expected to be the fastest growing segment in the online gambling market segmented by game type, at a CAGR of 12.7% during 2023-2028.
The online gambling market is segmented by device into desktop, mobile and other devices. The desktop market was the largest segment of the online gambling market segmented by device, accounting for 45.4% or $40.2 billion of the total in 2023. Going forward, the mobile segment is expected to be the fastest growing segment in the online gambling market segmented by device, at a CAGR of 12.7% during 2023-2028.
Western Europe was the largest region in the online gambling market, accounting for 36.2% or $32.1 billion of the total in 2023. It was followed by North America, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the online gambling market will be South America and North America, where growth will be at CAGRs of 13.7% and 12.7% respectively. These will be followed by Africa and Eastern Europe, where the markets are expected to grow at CAGRs of 12.2% and 11.3% respectively.
The global online gambling market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 22.6% of the total market in 2022. Flutter Entertainment Plc was the largest competitor with a 9.2% share of the market, followed by Bet365 Group Ltd with 4.4%, Entain Plc with 3.1%, Kindred Group PLC with 1.4%, Betfred with 1.3%, DraftKings Inc with 1.1%, 888 Holdings PLC with 1%, Betsson AB with 0.7%, Rank Group plc with 0.3% and Pari Mutuel Urbain with 0.1%.
The top opportunities in the online gambling market segmented by game type will arise in the betting segment, which will gain $30.7 billion of global annual sales by 2028. The top opportunities in the online gambling market segmented by device will arise in the mobile segment, which will gain $30.6 billion of global annual sales by 2028. The online gambling market size will gain the most in the USA at $17 billion.
Market-trend-based strategies for the online gambling market include focus on strategic collaborations and sales partnerships, launch of new online sports betting brands, launch of innovative online gaming platforms and increased focus on mobile sports betting platforms.
Player-adopted strategies in the online gambling market include focus on expanding recreational customer base through new product solutions, focus on diversifying businesses by scaling up capabilities through new strategic partnerships and focus on expanding scalability, security and agility through new technology advancements.
To take advantage of the opportunities, the analyst recommends the online gaming companies to focus on online sports betting expansion, focus on innovative online gaming platforms, focus on mobile sports betting platforms, focus on casino segment, focus on mobile segment, focus on strategic partnerships, expand in emerging markets, continue to focus on developed markets, focus on data-driven personalization, focus on responsible gambling advocacy, focus on smartphone users and focus on targeting end users for enhanced engagement.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Online Gambling Market - Macro Economic Scenario
9 Global Market Size and Growth
10 Global Online Gambling Market Segmentation
11 Online Gambling Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Global Competitive Landscape and Company Profiles
21 Other Major and Innovative Companies
24 Key Mergers and Acquisitions
25 Opportunities and Strategies
26 Online Gambling Market, Conclusions and Recommendations
27 Appendix
Executive Summary
Online Gambling Global Market Opportunities and Strategies to 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global online gambling market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 19 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for online gambling? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The online gambling market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider online gambling market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by game type and by device.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario - The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the online gambling market.
- Global Market Size and Growth - Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis - Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by game type and by device in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth - Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies - Details on the company profiles of other major and innovative companies in the market
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities and Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and Strategies to be followed in those markets.
- Conclusions and Recommendations - This section includes recommendations for online gambling providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) By Game Type: Betting; Casino; Lottery; Poker; Bingo; Other Game Types2) By Device: Desktop; Mobile; Other Devices
Key Companies Mentioned: Flutter Entertainment Plc; Bet365 Group Ltd.; Entain Plc; Kindred Group PLC; Betfred
Countries: China; Australia; India; Japan; South Korea; USA; Canada; Brazil; Belgium; France; Germany; Italy; Netherlands; Spain; UK; Sweden; Switzerland; Romania; Greece
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; online gambling indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Flutter Entertainment Plc
- Bet365 Group Ltd.
- Entain Plc
- Kindred Group PLC
- Betfred
- DraftKings Inc.
- 888 Holdings PLC
- Betsson AB
- Rank Group plc
- Pari Mutuel Urbain
- 500.com
- WinZO
- Junglee Games
- Mobile Premier League (MPL)
- Dream Sports
- QQ Lottery
- Las Atlantis
- Sports Toto Malaysia
- Ruby Fortune
- Jackpot City
- SPIN Casino
- 32Red
- Royal Vegas
- Europa Casino
- GVC Group
- Bet.pt
- Pariplay Ltd
- ZEAL
- Gauselmann Group
- BetEnt BV
- QSB Gaming
- Ladbrokes Coral
- Sky Betting & Gaming
- Super slots
- CODERE
- SuperWins
- Bede Gaming
- Betfair
- Buzz Bingo
- 7777 Gaming
- EverBet
- EveryMatrix
- 888.ru
- SuperBet Group
- Gameworld.ro
- GG.BET
- iGaming
- Kings Entertainment Group Inc
- SkillOnNet
- Gambling.com Group Limited
- Evolution Gaming
- Scientific Games- USA
- Buffalo Partners- USA
- Royal Panda- Canada
- Betway-Canada
- LeoVagas.com- Canada
- Bet365 Casino- Mexico
- 22Bet- Mexico
- 1XBet- Mexico
- Inkabet
- Casino.Com
- Slots Million
- Mansion Casino
- Slots Heaven Casino
- Play Frank Casino
- Cherry Casino
- Redbet Casino
- BGO Casino
- BetWarrior
- Lottoland Limited
- NeoGames S.A.
- Emirates Draw
- Mahzooz
- BuyLottoOnline
- SunBet
- BetKing
- Betcoza
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 293 |
| Published | May 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 88.6 Billion |
| Forecasted Market Value ( USD | $ 252.5 Billion |
| Compound Annual Growth Rate | 11.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 77 |
