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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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Endorphina has entered into a partnership with Luckia, a leading company in the gaming sector. Combining Endorphina’s passion for slots with Luckia’s innovative spirit, this partnership is set to provide incredible gaming experiences to all iGaming enthusiasts.
Endorphina’s Senior Partnership Manager, Zdenek Llosa, shared his excitement about the partnership: “We are thrilled to join forces with Luckia, a respected and influential operator in Colombia, Spain, Mexico, and Portugal. This partnership is a significant step forward in our global expansion strategy, allowing us to reach new players and markets. We are confident that Luckia’s players will appreciate the quality and diversity of our games, and we look forward to a fruitful and enduring collaboration.”
Luckia is a commercial brand of Luckia Gaming Group that combines offline and online gaming, including traditional businesses such as gaming machines in bars and restaurants and gaming arcades, new online gaming activities, and land-based sports betting. By advancing the current concept surrounding gaming, Luckia aims to provide an extensive entertainment experience, democratizing gaming and making it a social, accessible, and trust-inspiring activity.
Eloy Fernandez, Head of Product at Luckia, said: “We’re thrilled to announce our new partnership with Endorphina, with Mexico being the first market to go live with their creative slot content on Luckia’s platform! Endorphina’s distinctive games will not only enhance our offering but also provide a fresh and engaging experience for our Mexican players. Their unique approach aligns with our mission to elevate entertainment and optimize our services in key markets.”
eCOGRA, a leading international authority in Testing, Inspection and Certification services for the iGaming industry, has secured new regulatory approvals across three key jurisdictions: Arizona, Indiana and Panama. With these developments, eCOGRA strengthens its position in the U.S. and Latin American markets, offering excellence in compliance through their Quality, Speed, and Service promise.
This strategic expansion allows eCOGRA to conduct independent compliance audits and certification services in each region, addressing the growing demand for rigorous regulatory oversight in the fast-evolving global iGaming industry.
Securing approval in Arizona, where eCOGRA has now been licensed as an Event Wagering Ancillary Supplier, enables the International Testing Laboratory (ITL) to audit event wagering licensees in line with Arizona’s expanding regulatory landscape. Indiana, which introduced online sports betting in September 2019, has authorised eCOGRA to perform regulatory compliance audits, providing licensed operators with crucial assurance in meeting the state’s high standards.
In Panama, the Board of Gaming Control officially recognised eCOGRA as an Authorised Entity for Compliance Certification, specifically for slot machines and gaming software. This endorsement reinforces eCOGRA’s role as a trusted partner for operators seeking to meet stringent regulatory requirements in Latin America’s emerging iGaming sector.
“Our recent approvals in Indiana, Arizona, and Panama underline our dedication to continually expand our offering, to support our growing portfolio of clients with their global growth plans. We are committed to ensuring that we bring the same quality, speed and service that marks us out to both our clients and regulators in these dynamic markets,” said Will Shuckburgh, Group CEO of eCOGRA.
Bradley Khoury, Chief Technology Officer at eCOGRA, said: “Securing licensure as an Event Wagering Ancillary Supplier in Arizona and an Authorised Entity in Panama underscores our dedication to supporting responsible and sustainable iGaming operations. We are committed to driving trust and accountability within the industry by providing compliance solutions that uphold the highest standards.”
Aposta Ganha, the fastest growing Brazilian sports betting and casino site in Brazil, has launched its Black Friday promotion with its newest ambassador Luva de Pedreiro, AKA Bricklayer’s Glove.
With over 21 million followers on Instagram, the digital influencer and social media phenomenon will strengthen the brand’s presence in the market and shake up Black Friday with a campaign full of special offers for bettors.
Known for his catchphrase “Receeeeba!” and his irreverent personality, Luva de Pedreiro will be the main face of the campaign, creating a direct connection with the public, football fans and social media enthusiasts. The partnership aims to increase Aposta Ganha’s visibility in the market, attract new bettors and offer an even more dynamic experience.
Aposta Ganha is taking advantage of Black Friday to reinforce its commitment to ethical and transparent operations in the market. The platform complies with the new regulations of the Federal Government and invests in education and awareness initiatives, ensuring a safe experience for its users. Vitor Paulin, Chief Marketing and Growth Officer at Aposta Ganha, said: “Signing an ambassador like Luva de Pedreiro is a huge milestone for Aposta Ganha. His authenticity and connection with the public make him the ideal partner to boost our brand and make the betting experience even more exciting.”
Aposta Ganha’s Black Friday brings unmissable offers for all types of bettors. One highlight is that bettors will receive 10% cashback on the amount lost in the Aviatrix game and daily offers for sports betting. The promotions will be valid from November 21 to 30, with exclusive advantages in selected games each day.
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