Latest News
Global Online Gambling Market Size To Worth USD 164.53 Billion By 2033 | CAGR Of 6.85%
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.
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, FranƧaise 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,Ā 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
Browse Related Reports
Global Pregnancy Pillow Market Size, Share, and COVID-19 Impact Analysis, By Product Type (J Shaped, U Shaped, C Shaped, Others), By Material Type (Polyester Fiberfill, Organic Filling, Memory Foam), By End-User (Commercial, Residential, Hospitals, Maternity Homes), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 ā 2033
Global Refrigerated Display Cases Market Size, Share, and COVID-19 Impact Analysis, By Type (Plug-In, Semi Plug-In, Remote), By Design (Vertical, Horizontal, Hybrid), By Application (Retail Stores, Restaurants & Hotels, Others), By End-Users (Supermarkets, convenience stores), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 ā 2033
Global Wearable Solar Technology Market Size, Share, and COVID-19 Impact Analysis, By Component (Solar Cell, Supercapacitors, Solar Panels, Sensors, Others), By Application (Smart watches, Headsets, Fitness Trackers, Smart Glasses, Smart Clothes & Fabrics, Footwear, Others), By End-use (Medical & Healthcare, Consumer Electronics, Textiles, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 ā 2032.
Global Hand Wash Market Size, Share, and COVID-19 Impact Analysis, By Product (Ordinary Hand Wash, Waterless Hand Wash), By End-User (Commercial, Residential, Industrial), By Distribution Channel (Pharmacy Stores, Supermarket/ Hypermarket, E-commerce, Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 203.
Latest News
Jackpot.com Launches in Colorado Providing Consumers Mobile Lottery Access Across the Centennial State
Today, Jackpot.com, the online platform and app that allows individuals to safely and securely order official state lottery tickets and scratchers from their mobile phone and other devices, announced its launch in Colorado. On the heels of the Colorado Lotteryās 40th anniversary last year, the Centennial State will feature both draw games and Scratchers (digital scratch off games).
With Jackpot.com, Colorado players can instantly buy tickets for nationwide games such as Mega Millions and Powerball, as well as their favorite state lottery games, including Cash 5, Pick 3, Lucky 4 Life, and more. The innovative platform purchases tickets on behalf of its customers from an official state lottery retailer, displaying a scan of their ticket and transferring winnings under $600 in real-time to their account. For prizes greater than $600, Jackpot.com securely delivers the ticket to the winning player so they can collect the winnings from the Colorado Lottery.
āAt Jackpot.com, we remain committed to growing the safe and secure access to the lottery across the country and we could not be more excited to add Colorado as our seventh state,ā said Jackpot.com CEO and co-founder, Akshay Khanna. āLast year, the Colorado Lottery reached $4 billion in proceeds and they give back millions of dollars each year to state parks, schools, and various projects. Theyāre also notably invested in responsible gaming, which has been a staple at Jackpot.com since its inception. We canāt wait to become part of the Colorado community and provide an accessible and reliable lottery experience for players.ā
Not only will Colorado residents have access to their favorite state lottery games, theyāll also have access to Scratchers – the digital scratch ticket offering focused on expediting the convenience and the processing times of scratch-off games. Jackpot.com will launch with five of the most popular scratchers in Colorado, including $3,000,000 Supreme, Casino Ca$h Chips, $250,000 ORO, and more. Customers simply have to āscratchā their device screen with their finger or mouse to reveal their scanned ticket and potential winnings. Jackpot.com delivers the industryās fastest online lottery scratch card experience after undergoing a comprehensive business process review by Gaming Laboratories International (GLI), which ensures its method for ordering and processing lottery scratch tickets is accurate and functions as expected for both Jackpot.com and the player.
This year marks the Colorado Lotteryās fourth consecutive year generating a new sales record, amassing over $900 million in revenue. This yearās success translates to more than $196 million in funds allocated to beneficiaries throughout the state. Since its first ticket sale in 1983, the Lottery has allocated over $4.2 billion to good causes across the state.
Jackpot.com has continued to raise the bar for responsible gaming through the integration of modern conveniences and safety guardrails, one of the key distinctive features of digital lottery platforms. The company has significantly invested in responsible gaming protections by allowing customers to set spend limits, setting default limits on daily deposits, providing access to local and national responsible gambling resources, self-exclusion, self-suspension and automated notifications that offer help should problematic behavior be detected. Jackpot.com is the only lottery courier service to launch with iCap certification from the National Council on Problem Gambling.
Fantasy Sports
Will Booth: blending the best of fantasy and sports with PickāEm Player Props
For those that might not know, can you give us a brief overview of PickāEm Player Props?
In simple terms, the new PickāEm Player Props product from WA.Technology is almost like a hybrid between fantasy sports and sports betting. In the same vein as traditional player props products that you see in traditional sports, players can select markets on individual players ā we have just taken that model and elevated it.
During the game, players can make between two and six bet selections. For example, will Erling Haaland score more or less than 2.5 shots? The number of bet selections the player makes then determines their multiplier. By allowing bettors to unleash their sporting knowledge and provide engaging games for them to play, we are helping our operator partners to not only engage with a wider player base but also to fuel long-term retention. It really is a one-of-a-kind product and one weāre incredibly excited about. Itās already proving to be a top performer in LatAm.
Why has now been the right time to unveil PickāEm Player Props?
Over the last few years, weāve seen significant growth in the number of player proposition products. There are several reasons for that. Sports fans have shown a growing affinity for individual players rather than a team. They follow players on social media and engage with content featuring that player.
This reflects the wider trend weāre seeing: the new generation of fans is more in love with the players than the team itself. A great example of this is both Lionel Messi and Cristiano Ronaldo. Bettors worldwide would wager on either of those players and engage with their content regardless of which team they played for or what club they supported.
The appetite for player-driven betting is increasing dramatically, resulting in a greater demand for products specifically tailored to individual athletes.
With more traditional sportsbooks, however, weāve found that there isnāt as much depth of product regarding player propositions ā aside from goal scorer markets. We wanted to change that ā we wanted to deliver a fun, engaging product that helps build a sense of community among players.
Since PickāEm Player Props is also a hybrid of fantasy and sports, it can act as an attractive tool to facilitate new market entries, as fantasy sports are not regulated like sportsbooks or iGaming. Take the US for example. In most states, operators do not need a licence to offer a fantasy sports product. This is the case for many markets around the world, too. I believe this will be an attractive proposition for operators looking to expand their international footprint, and as a truly global provider, weāre here to make that happen.
In your view, what differentiates WA.Technologyās PickāEm Player Props from other player props products on the market?
Currently, we are the only B2B provider to offer a player propositions product that combines sports and fantasy. A handful of companies in the US offer something similar, but they are all B2C companies ā we are bringing something totally unique to the B2B space.
Fantasy Sports have always been popular in the US. But over the last 18 months, weāve seen a meteoric rise in the demand for player proposition markets; we wanted to develop a product that caters to that growth in demand and delivers something unique for our partners.
For other player props products on the market, something that is worth noting is that the design and UX are doing little to engage Millennial/Gen Z bettors. This audience demands a streamlined UX that is easy to use. Our PickāEm version has been specifically designed with this demographic in mind, although we have been careful not to disenfranchise other age groups. We have kept the design sleek, streamlined and easy to use to deliver that. Itās extremely well-designed compared to what you might see in a more traditional sportsbook.
The game is straightforward to understand because we have fixed multipliers. This decision differentiates us from more traditional products, where the multipliers vary depending on how many bets you place. It also makes the product much more accessible for players who might otherwise not be familiar with fantasy or player props.
Another major defining factor is that we have ensured players can add multiple bets from different markets together. On most sports betting sites out there, you cannot combine player props markets. You couldnāt, for example, have a bet slip combining Erling Haaland’s Over/Under Shots and Kevin De Bruyneās Shots on Target. We know this is frustrating for many bettors. We wanted to eliminate that barrier and elevate sports fans’ experience.
How does the level of data granularity influence the design and effectiveness of player proposition betting products, particularly in terms of player engagement and personalised betting options?
We are very fortunate that the data feed we use for our player props markets is the best. We have a wide range of insights and data analytics available, giving us an edge over other companies within the space ā this is a serious differentiator.
The enhanced data range means we can deliver many more bespoke, personalised betting options to players while also getting more granular with the markets we can offer.
Our Managed Services Team, which oversees all things trading, also closely monitors the markets that are most popular with players. For example, if we see an influx in bets on āshots on targetā, we know how to create more promotions around this particular market. We can tailor the CMS to engage better with players and create a more personalised experience.
Players can also āfavouriteā particular players and clubs. Any market featuring that player will automatically appear when the PickāEm Player Props application loads up.
Are there any markets where you believe PickāEm Player Props will prove to be particularly popular? If so, why?
In all honesty, I canāt think of a market where this wonāt be popular! Regions such as LatAm present an enormous opportunity for the growth of player proposition markets. I believe we can really plug a gap in the products currently offered to bettors.
Across the continent, weāve seen players show a real passion for player-focused markets, and weāre here to capitalise on that. In Brazil, for example, if we were to create markets on Neymar, Iād anticipate this would gain much traction!
The real selling point for PickāEm Player Props here is that we offer an extensive range of sports and markets that cater to a broad audience ā but within that, we can personalise sports and bet selections not to overwhelm the player. Iād expect that markets on football will perform exceptionally well across Africa and LatAm, while countries such as South Africa may have a stronger preference for Rugby or Cricket.
Ultimately, itās about understanding the unique preferences of players within each jurisdiction our partners operate in and tailoring the product accordingly. With teams based in various markets worldwide, we can get to grips with the local knowledge and fully understand what resonates with bettors.
In your view, what are some of the factors behind the growth of player props products in the last 12 months?Ā Ā
Most definitely shows how sports media companies are incorporating more player-specific content into their roster. This already has a huge impact, and I canāt see it changing anytime soon.
Whether itās interviews with specific players, post-match analytics on performance or even the inherent growth of social media, the balance is undoubtedly tipping more towards the player rather than the team.
Personalisation will also have a considerable knock-on effect on the growth of player propositions. Bettors want more bespoke offers, specific bet suggestions and more instant content tailored to their unique playing habits. With a product like PickāEm Player Props, you can personalise that betting experience to your heartās content.
It also becomes much easier for sportsbooks to align with a specific userās interests when we deliver unmatched data analytics and levels of personalisation that are available via WA.Technologyās product suite.
In short, PickāEm Player Props gives operators the tools they need to create wide-ranging engagement opportunities without sticking to the rigid sporting calendar, where sometimes you might have to wait several days between a game. By incorporating fantasy sports, we can deliver round-the-clock content much faster, therefore meeting the demands of players. If you want to find out more ā make sure to stop by Stand 1095 at SiGMA!
Latest News
Golden Matrix Group Inc. Reports Strong Q3 2024 Earnings and Continued Operational Growth
-
Revenue Growth: Q3 2024 consolidated revenue increased by 85% to $41 million, with year-to-date revenue up 55% to $105.3 million, driven by consistent performance across key markets.
-
Gross Profit Increase: Gross profit grew 39% in Q3 to $22.4 million, with year-to-date gross profit rising 24% to $61.8 million, reflecting improvements in operational efficiency and product margins.
-
AEBITDA: Adjusted EBITDA for Q3 reached $4.3 million, reflecting resilient performance across multiple revenue channels with marginal impacts from currency fluctuations across subsidiaries.
-
Balance Sheet Strength: As of September 30, 2024, Golden Matrix maintained a robust financial position with over $38.4 million in cash and equivalents and short-term debt of $17.5 million. Shareholder equity also grew 60% to $94 million, reinforcing the Companyās ability to pursue strategic growth initiatives.
-
Meridianbet Strong Growth Continues: Meridianbetās Q3 revenue grew 16% YoY, led by a 19% online increase and 6% in retail. Deposits rose to $61.9M (+13% QoQ), with new registrations up 23% to 125K. Online casino GGR margin hit 3.37% (+21% turnover), sports betting rose 7.4% YoY with GGR at 9.5%, retail sports GGR at 10.3% (record 14.1% in August), and retail slots up 17.5% YoY.
-
Expansion of GMAG Platform: The GMAG B2B aggregator platform saw substantial growth, with wagering volume increasing 84% to $1.4 billion. Enhanced customer retention tools and the addition of high-margin games have driven engagement and profitability.
-
Classics for a Cause Acquisition: This newly acquired Australian business added $2.1 million in revenue and $503,000 in EBITDA within two months, expanding Golden Matrixās market reach and contributing to overall profitability.
-
Mexplay Growth: Mexplay, the Companyās online casino in Mexico, reported a 56% increase in active players and a rise in gross gaming revenue to $15 million, underscoring growth potential in Latin America.
-
Latest News7 days ago
Great River Entertainment Converts from Viz Explorer to Quick Custom Intelligenceās (QCI) Enterprise Platform
-
awards6 days ago
Vibra Gaming win double awards at SBC LatAm 2024 – āBingo & Lottery Supplier of the Yearā AND silver for āCasino & iGaming Supplierā
-
Canada7 days ago
INTRALOT Announces New Project with the British Columbia Lottery Corporation for Online Lottery Platform
-
Gambling in the USA3 days ago
Wind Creek Chicago Southland to Open to the Public on November 11
-
Gambling in the USA2 days ago
Snoqualmie Casino Announces Exciting Rebranding to Snoqualmie Casino & Hotel Ahead of Major Expansion
-
Gaming Awards7 days ago
Groove Wins SBC Award for Women’s Empowerment Initiative of the Year 2024
-
Latest News7 days ago
Accel Entertainment Announces Expansion into Louisiana
-
awards7 days ago
Betsson Group Celebrates Prestigious Wins at SBC Awards LatinoamƩrica 2024