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Global Online Gambling Market Size To Worth USD 164.53 Billion By 2033 | CAGR Of 6.85%

Published

3 weeks ago

August 28, 2024

The Global Online Gambling Market Size is to Grow from USD 84.79 Billion in 2023 to USD 164.53 Billion By 2033, at a Compound Annual Growth Rate (CAGR) of 6.85% during the projected period.

Online gambling is a game that takes place over the Internet or on mobile devices, with individuals using real money to play fictitious gambling games. The market for online gambling is growing as more individuals use the internet and mobile devices to play online games. Celebrity endorsements, commercial advertising, simple access to accelerate the expansion of online gaming, and legalization all contribute to grow the industry. The rise in online payment gateways, as well as the global use of digital money, are expected to drive industry growth. Operators of various digital platforms are creating a wide range of promotions and tournaments that quickly attract the interest of a new audience, presenting significant growth opportunities for the online gambling industry. The changing legislative landscape for virtual betting, as well as the market’s legalization in emerging countries, are projected to drive industry growth. For example, online gaming has recently been allowed in Goa and Sikkim. Increased global reputation is expected to fuel market growth. However, the increased rate of cybercrime could restrict industry expansion.

Browse key industry insights spread across 207 pages with 110 Market data tables and figures & charts from the report on the “Global Online Gambling Market Size, Share, Growth, and Industry Analysis, By Game Type (Sports Batting, and Casino), By Device Type (Mobile, Desktop, and Tablets), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa) and Forecast to 2033.”

In 2023, the sports betting sector held a 65% share of the market.
Based on game type share, the online gambling market is classified into sports betting and casinos. Among these, the sports betting sector held a 65% share of the market in 2023. The sports betting segment would have the most market share over the projection period. Given the country’s rising interest in sports, there is a considerable demand for sports betting in the online gambling sector among US users. Furthermore, in the sports betting industry, clients are focused on sports for which they have a certain level of knowledge, which allows them to understand the current game and brings them one step closer to profitability. Eventually, new security standards will require consumers to enter their licenses and other documents before beginning to play any game on an online platform. As a result, consumers can secure the security of their money, which is one of the reasons why they prefer online gambling.

The mobile segment led the worldwide online gambling market in 2023, accounting for 87% of the market.
Based on device type share, the online gambling market is classified into mobile, desktop, and tablets. The mobile segment led the worldwide online gambling market in 2023, accounting for 87% of the market. The mobile segment dominated the global online gambling market during the forecast period. It allows gamblers to enjoy the game’s features and graphics. Furthermore, mobile performance characteristics like high-definition audio and video and expandable storage enhance the gaming experience. These factors have all led to the expansion of the mobile-type market. The sophisticated gaming images on smartphones, courtesy of improved mobile technology, have made online gambling more accessible. The segment is growing as a result of the widespread availability of low-cost mobile phones with modern features like enhanced graphics and more storage. Mobile gaming customers can enjoy a variety of benefits, including remote play, loyalty points, additional deposit options, and multiplayer games.

Stake - Best Online Casino & Sports Betting Platform

Europe is expected to hold the largest share of the online gambling market over the forecast period.

The legalization of gambling in several European nations, notably Italy, Spain, France, and Germany, is to blame for this tendency. Other factors driving corporate growth include the availability of high-speed broadband internet, the growing popularity of online casinos, and the widespread use of smartphones. According to a poll done by the European Gaming & Betting Association, sports betting will account for the vast majority of online gambling in 2022. Furthermore, the German online gambling business held the largest market share, while the UK’s online gambling market was the fastest growing in Europe.

Asia Pacific is predicted to grow at the fastest pace in the online gambling market during the projected timeframe. The Asia-Pacific online gambling market is expected to grow significantly throughout the projected period. Increased internet usage and changes to the legislation governing online gambling and betting are likely to drive market growth. Furthermore, China’s online gambling sector held the most market share, while India’s online gambling market was the fastest growing in Asia-Pacific.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the online gambling market Sky Betting and Gaming, Betsson AB, Française des Jeux, Aristocrat, 888 Holdings PLC, The Stars Group Inc., William Hill PLC, Light & Wonder, Kindred Group PLC, Paddy Power Betfair PLC, Las Vegas Sands, Ladbrokes Coral Group PLC, Evolution Gaming, DraftKings, Gaming and Leisure Properties, VGC Holdings PLC, Boyd Gaming, and Others.

Recent Developments

In April 2024, Caesars Entertainment, Inc. announced a significant update to its Caesars Palace Online Casino mobile app for iOS and Android. The new Caesars Palace Online Casino app is now available, and it features an industry-first multi-lobby navigation architecture that transforms the online casino experience by offering curated lobbies dedicated to popular gaming categories such as slots, table games, and Live Dealer.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global online gambling market based on the below-mentioned segments:

Global Online Gambling Market, By Game Type
Sports Batting
Casino
Global Online Gambling Market, By Device Type
Mobile
Desktop
Tablets
Global Online Gambling Market, By Regional

North America
US
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Australia
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
UAE
Saudi Arabia
Qatar
South Africa
Rest of the Middle East & Africa

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Latest News

G2E Las Vegas next stop for Innovative Technology

Published

5 hours ago

September 19, 2024

Adrienn Sarkany

Innovative Technology is preparing for the major gaming show in the US – G2E 2024 – which will take place on October 8th-10th at The Venetian Expo in Las Vegas. Global Gaming Expo (G2E) is a key gambling industry trade show aimed at fostering innovation and driving growth, with industry suppliers and professionals from across the globe gathering together for one exciting week. Innovative Technology, a trusted provider of bill validators and recyclers to the gaming industry, will be showing their latest devices, including their new age & identity verification technology, from booth 2035.

Commenting on Innovative’s participation, Lauren Fabbri, Business Development Manager for North America said, “We can’t wait to show G2E visitors our latest technology. This is always an exciting show for us and presents an ideal platform to network with customers and suppliers in this vibrant market. We are experiencing huge growth across North America – with our NV200 casino grade, field-proven bill validator. With its “easy to retrofit” design, we are seeing a significant demand from operators who are upgrading their existing machines to the NV200. We’ll also be demoing all of our latest bill recyclers in the booth, including the new NV4000 which is ideal for redemption terminals due to its large multi-bill recycling capacity, NV22S for a compact bill recycling solution, and the Spectral Payout for superior mixed denomination recycling with advanced validation technology.”

Lauren continued, “We also supply a range of coin validation products to the gaming sector. The SMART Coin System (SCS) is an “all-in-one” bulk coin validator, hopper and recycler which eliminates coin starvation and the need for multiple hoppers. The coin elevator is an add-on module for the SCS that dramatically reduces the distance between coin entry and exit points to improve customer experience. Come and see us at the booth and let us showcase how these products can improve efficiency and significantly reduce operator collection costs.”

Concluding Lauren said, “We can’t wait to show G2E visitors our latest AI-powered age and identity verification technology too. These products can be used to stop minors from accessing age restricted goods or services and are ideal to help prevent underage gambling. MyCheckr, with an integrated camera and screen, can be used at entrances to prevent minors entering age-restricted gaming zones and ICU Lite can be fully integrated within an individual gaming machine to give an automated age-check at the machine prior to game play initiating. The technology operates completely anonymously and does not store any data or require any previous personal details so there’s no need to worry about data privacy and security. The team will be happy to answer any questions and demonstrate our products on booth 2035 – see you in Las Vegas next month!”

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Props.Cash Bolsters RG Offering with Birches Health Partnership

Published

8 hours ago

September 19, 2024

Niji Narayan

Leading sports gaming research platform Props.Cash is expanding its responsible gaming efforts by partnering with Birches Health, a national provider of gaming education resources and support services. As Responsible Gaming Education Month continues, Props.Cash and Birches Health have announced plans for a dedicated integration of custom educational content and resources for responsible play on Props.Cash platforms. In line with the company ethos of helping educate and inform bettors, the partnership aims to instill and encourage sustainable, healthy behaviors.

“This partnership aligns with our unwavering commitment to our community by offering another ‘tool in the belt’ to ensure sports betting remains fun and safe. At the core, all of us at Props.Cash are sports enthusiasts, and it is imperative to have partners like Birches Health in order to make sure the joy of being a sports fan is always at the forefront, and there is a resource at anyone’s disposal to tap into should that enjoyment or relationship with sports betting ever come into question. Companies like Birches Health are creating accessibility and support for those in our industry who may need it, and we are proud to call them a partner,” said Michael Sansom, Vice President of Marketing at Props.Cash.

“We are excited to partner with a company like Props.Cash that over the years has developed a reputation for putting its customers first. Their research tools are impressive, and we’re looking forward to supplementing the offering with new elements that promote Responsible Gaming best practices,” Birches Health founder Elliott Rapaport said.

Latest News

PURE KICK Energizes Gamers Nationwide Promotion with New Warcraft Rumble Unite Promotion

Published

8 hours ago

September 19, 2024

Niji Narayan

PURE KICK, the number one powdered hydration and energy drink mix in the Value Channel, announced its first co-branded promotional partnership with Blizzard Entertainment’s popular mobile game Warcraft Rumble. The collaboration offers players a new way to power up their gameplay with PURE KICK’s zero-sugar, energy-boosting drink mixes, all while unlocking exclusive in-game bonuses and rewards.

Starting September 1, gamers who purchase PURE KICK products—including Strawberry Watermelon Hydrate, Concord Grape Hydrate, Citrus Hydrate, and the Energy and Hydrate 30ct Variety Pack—can redeem their receipts to access up to four in-game content bundles. Each bundle offers $5 worth of special in-game rewards, adding value to their purchase and enhancing their Warcraft Rumble experience.

“We are thrilled to collaborate with Blizzard Entertainment for this exciting promotion. The synergy between Warcraft Rumble and PURE KICK is undeniable—both cater to the needs of gamers who are always on the move, offering the perfect blend of energy and excitement anytime, anywhere. This partnership marks our first venture into gaming and launches our broader strategy focused on creating innovative licensing and promotional programs that resonate with the gaming community,” said Amy Pagels, VP of Licensing and Partnerships at The Jel Sert Company.

Warcraft Rumble, available on iOS and Android, is an action-packed mobile strategy game that invites players to collect and assemble armies of iconic characters from the Warcraft universe and battle it out in unique missions designed to test their tactical wits. Players can experience multiple game modes, including the single player campaign, co-op challenges, epic PvP battles, and more.

Players can purchase PURE KICK’s 6-count Hydrate line at retail stores such as Dollar General, Dollar Tree, Walgreens, HEB, and more. The PURE KICK Energy and Hydrate variety pack will be available on Amazon. Gamers can redeem up to four in-game content bundles by purchasing PURE KICK products and uploading their receipts to www.purekick.com/rumble.