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Online Gambling Market Size, Share & Trends Analysis Report By Type, By Device, By Region And Segment Forecasts, 2023 – 2030

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Reportlinker.com announces the release of the report “Online Gambling Market Size, Share & Trends Analysis Report By Type, By Device, By Region And Segment Forecasts, 2023 – 2030”

Online Gambling Market Growth & Trends

The global online gambling market size is predicted to touch USD 153.57 billion by 2030, recording a CAGR of 11.7% from 2023 to 2030, based on a report. The emergence of freemium modes of online gaming, following the trend of betting applications and websites, is expected to drive market growth. The freemium model generates revenue via users and integrated advertisements.

The increased smartphone and internet penetration and easy access to casino gaming platforms are positively influencing the market.For instance, according to GSMA, the Asia Pacific region will witness 333 million new mobile internet subscribers by 2025.

Moreover, the availability of cost-effective betting applications is expected to favor market growth over the forecast period. According to data published by the New York state government, over 650,000 unique accounts were created on mobile betting apps in 2021.

Online gambling developers have partnered with online casino software suppliers to cater to the demand for immersive casino games. For instance, in April 2022, Real Luck Group Ltd. partnered with Microgaming to create more than 100 casino games with branded titles. Moreover, legacy online gambling platforms are entering new markets through partnerships. For instance, in January 2023, PokerMatch entered the Indian market through a partnership with Playtech plc due to the growing number of online players in the region.

The outbreak of the COVID-19 pandemic played a key role in expediting the online gambling demand as people spent most of their time indoors and opted for online games for their leisure.For instance, in May 2021, a study by the University of Bristol showed regular online gamblers were more than six times more likely to gamble online as compared to pre-pandemic levels.

Besides, the adoption of various options for digital payments with safe payment gateways is also stimulating the adoption of online gambling applications. The market growth will be further accelerated by the increased adoption of digital currency and websites provided by betting and gambling companies.

Online Gambling Market Report Highlights

  • The sports betting type segment is expected to expand at the highest CAGR over the forecast period from 2023 to 2030 as a result of the increasing popularity of professional sports leagues and competitions
  • The mobile device segment is expected to record the highest CAGR over the forecast period from 2023 to 2030 due to the emergence of immersive betting applications and the convenience of gambling via mobile devices
  • The increased advertisement of online gambling websites through online agencies, third-party ad servers, and networks and exchanges is expected to drive market expansion over the subsequent years
  • Europe dominated the online gambling market in 2022 by accounting for a revenue share of around 41.0%, owing to the legalization of online gambling, and the presence of stringent regulations and safe practices in the region
  • Asia Pacific is anticipated to register a CAGR of over 12.0% through 2030 in the market, owing to the increased smartphone usage, a larger population of youngsters, and the legalization of online gambling in the region
  • The major companies operating in the online gambling market include Paddy Power Betfair PLC and William Hill PLC

Industry News

Scientific Games Announces Mike Cardell as Senior Vice President, Americas Systems

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Scientific Games announces the appointment of Mike Cardell as the company’s Senior Vice President of Americas Systems. As the industry’s fastest-growing lottery systems supplier globally, Cardell’s appointment is another example of the company’s continued investments in people and products to innovate for its customers.

Mike Cardell.jpgCardell is an accomplished business technology leader with more than 17 years of experience and a proven track record in innovating technology-based products and services, including enterprise and consumer-facing applications, transaction processing platforms, large-scale IT conversions, strategic growth and impactful results.

He will lead all aspects of the company’s Americas lottery system business, driving incremental revenue and expanding product offerings while nurturing existing client relationships to grow lottery profits responsibly. Cardell will also be executing product and business development strategies as well as overseeing central and regional operations, service and contract management.

John Schulz, President, Americas & Global Instant Products, said, “With a keen understanding of developing strategies for sustainable growth, Mike will be instrumental in growing our systems business and ensuring innovation and operational excellence in our existing system operations. His strategic mindset and leadership experience make him a valuable addition to Scientific Games. We are excited to welcome him to our team.”

Before joining Scientific Games, Cardell spent more than 11 years at Fiserv where he most recently served as the global fintech and payments company’s Vice President and General Manager of Next Gen Solutions: Signature and Cloud Solutions. In this role, he managed the modernization of legacy enterprise account processing software solutions and cloud transformation solutions for large financial institutions and financial technology companies. He also spent five years managing business development and marketing for Hewlett-Packard.

Cardell holds a B.A. in Public Relations from Texas Tech University.

Scientific Games is a trusted partner to 150 lotteries in 50 countries around the globe, providing games, technologies, analytics and services that responsibly drive maximum returns to their beneficiary programs.

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Navajo Gaming Honors 186 Team Members for Employee Milestones

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This month The Navajo Nation Gaming Enterprise (Navajo Gaming) honored 186 of its total 1200 team members for reaching significant employment milestones including 15, 10, and 5 years of service for the enterprise. The event at Twin Arrows Navajo Casino Resort in Flagstaff, Ariz. showcased the impact and journey of each hard-working team member, with a special highlight for 29 employees who have served for 15 years.

Less than 10 years after Navajo Gaming was created by the Navajo Nation and charged with the mission of creating jobs, increasing revenues, and stimulating incremental economic development within the Navajo Nation, the gaming enterprise created over 7425 direct, indirect and induced jobs with an overall economic output of over a billion dollars.

“Navajo Gaming employs 1200 people, 85 percent of whom are Navajo citizens. The award-winning AAA’s coveted Four Diamond Twin Arrows Casino Resort shares Navajo Culture through architectural nuances and local artists. Each of the property dining eateries feature ‘Navajo Beef,’ and traditional cuisine of the Navajo people, and our invitation to stay, play and relax at one of our four properties or Travel Center is an open welcome to the Navajo Nation’s beautiful scenic transformation,” Matthew Shunkamolah, Interim Chief Executive Officer of Navajo Gaming, said.

Team members recognized for 15 years of services have worked their way up to a wide variety of position within the enterprise from General Manager and Executive Director of Slots, to Director of Security, Food and Beverage Supervisor and Executive Director of Government Affairs.

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The International Association of Gaming Advisors (IAGA) Announces 2024 International Gaming Summit in Washington, D.C.

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The International Association of Gaming Advisors (IAGA) will hold its 41st International Gaming Summit Monday, May 27 through Thursday, May 30, 2024 at The Ritz-Carlton Washington, D.C.

As a premier event that brings together leaders from all global gaming sectors, the Summit will provide operators, suppliers, attorneys, investors, bankers, regulators and other advisor delegates with an unparalleled opportunity to meet and discuss the most important issues facing gaming.

“We are looking forward to holding this year’s 41st Annual International Gaming Summit in Washington, D.C., and are pleased to announce an agenda that includes a specific focus on some of the key sports betting issues the rapidly expanding US market is facing. As part of this focus, we will bring together representatives from global sports betting operators, regulatory agencies, professional sports leagues and other experts to discuss how the industry’s sports betting stakeholders can better work together to ensure a sustainable, responsible sports betting environment that is built on best practices lessons learned from other markets,” John Stawyskyj, President of IAGA, said.

“Beyond our sports betting focus, our diverse agenda includes discussions on other issues of importance including the growing impact of fraud and cyber breaches on regulated operators, a look into the federal and state lobbying process, an update on what’s happening in other gaming markets outside North America, a deep dive into new technologies and how they might impact gaming and more. I look forward to welcoming our delegates to Washington and participating with them in lively discussions about these critical issues and more,” Stawyskyj added.

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