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, 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
Emerging Startup Adventura Gaming to Launch New Casino Table Game, Penn & Teller Casino Monte
Adventura Gaming, a new boutique gaming company pioneering branded casino games that blend world renowned celebrities and brands with cutting-edge gameplay, is launching its casino table game, Penn & Teller Casino Monte, on March 3 at Rio Hotel & Casino. Creating an innovative table game experience with the beloved and iconic Penn & Teller, the game is poised to attract valuable new audiences to casinos as the first celebrity branded casino table game of its kind.
âWe couldnât be more proud to officially announce Adventura Gaming to the industry with the launch of our Penn & Teller Casino Monte, a groundbreaking table game that merges entertainment, innovation and the magic of one of the worldâs most iconic duos,â said David Anthony, president and cofounder at Adventura Gaming. âBy combining engaging gameplay with a celebrity brand that resonates with audiences outside of slot machines, weâre creating a fresh and exciting experience for players while delivering added value to casino operators,â added Cinnamon Booth, Adventura Gamingâs executive vice president and cofounder.
âCasino Monte is a brand-new table game thatâs fiendishly fun,â remarked Penn Jillette, one half of the storied Penn & Teller duo. âWhen Adventura introduced us to this new casino table game concept, it quickly became clearânot only could we learn it and play it, but it was genuinely fun. I thought if we can learn it, anyone can, and theyâll have a great time doing it.â
As soon as they saw its engaging mechanics, Adventura Gaming was immediately captivated by its potential, and moved decisively to license and refine the game. Anthony and Booth said they’ve âloved the idea of Penn & Teller going all the way back to their three-card game shenanigans in Run DMCâs Tricky music video. So of course, we knew right away they were the only ones we wanted to partner with.â
Drawing in an audience with internationally recognized celebrity magicians Penn & Teller, and its original patented gameplay, Penn & Teller Casino Monte allows players to place a bet on âPenn,â â&â or âTellerâ and the higher the card, the better the chances to win.
Offering 13 rooftop pickleball courts, the most of any Las Vegas resort, the Plaza Hotel & Casino in downtown Las Vegas will host a three-day Nike Pickleball Camp led by nationally-ranked professional pickleball player Rick Witsken, Friday, March 14 through Sunday, March 16, from 1 to 4 p.m. each day.
Open to players 18 years or older and at any skill level (beginner, intermediate, or advanced), the weekend camp gives participants the option to attend one, two, or three days of pickleball lessons and play that are designed to address specific needs, increase knowledge of the game, and help improve play in a fun and friendly environment.
The Nike Pickleball Camp will be led by Rick Witsken, a top ranked senior pro and co-founder of the National Pickleball League (NPL). Previously world-ranked on the Association of Tennis Professionals (ATP) in both singles and doubles play and currently ranked #1 on the Association of Pickleball Players (APP) Senior Pro Menâs standings, Witsken has won more than 100 senior and open pro medals and has served as director of over 50 camps. He currently hosts the âRipSken Pickleballâ podcast and posts instructional videos online via the Midwest Pickleball club. He also founded the first public scholastic middle school pickleball team at Zionsville Middle School in Whitestown, Indiana.
The first day of the camp will focus on short and soft game skills, like dinks and drops. The second day highlights aggressive game skills, including drives, serves, returns, speed ups. The final day will culminate with strategy and positioning lessons.
All camp participants will receive a Nike Pickleball Camp t-shirt and prizes with their registration. They must bring their own pickleball paddle, athletic shoes, and water bottle. Upon arrival, all participants are evaluated by camp staff so that their personal instructional needs can be addressed throughout the weekend. Participants are grouped by ability first then by age per the camp director’s discretion, and adjustments are made as needed during camp.
The Michigan Gaming Control Board (MGCB) has issued a cease-and-desist order to BetNow.eu Sportsbook, Casino, and Racebook (BetNow), an offshore online casino operating illegally within the state. The site offers a range of casino games, including slots, poker, and live dealer options such as blackjack, roulette, and craps, as well as betting services for sports events and horse races.
âThis unlicensed operator not only violates Michigan law, but also exposes consumers to significant risks. Our job is to protect Michigan residents by ensuring that all online gambling is conducted legally and responsibly,â MGCB Executive Director Henry Williams said.
BetNow offers numerous payment options for player deposits, including Visa, Mastercard, American Express, Zelle, Apple Pay, Google Pay, PayPal, Bitcoin, Ethereum, Litecoin, Tether, Bitcoin Cash, CashMG, and bank transfers. However, players must wager their entire initial deposit before becoming eligible to withdraw any winnings.
The MGCBâs investigation found that BetNow is in violation of several key state laws, including:
⢠Lawful Internet Gaming Act: Only licensed operators are permitted to offer internet gaming. Only Michigan-licensed casinos and federally authorized tribal casinos can apply for a gaming license under state law.
⢠Michigan Gaming Control and Revenue Act: Operating an unlicensed gambling business is a felony in Michigan, carrying penalties of up to 10 years in prison, a fine of up to $100,000, or both.
⢠Michigan Penal Code: Gambling, which involves payment based on the outcome of an uncertain event, is prohibited under state law. Accepting money with the understanding it will be paid based on a game of chance is illegal.
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