Online Gambling And Betting Market Growth Analysis: 2023, Ongoing Industry Trends, Business Development and Challenges
Report Ocean recently released a comprehensive report on the Online Gambling And Betting market, offering valuable insights into various factors impacting the market's growth. The report covers crucial information on market restraints, drivers, and opportunities, enabling readers to understand the market dynamics. It also provides a detailed analysis of industry developments and trends that are shaping the Online Gambling And Betting market. Furthermore, the report includes a thorough assessment of the market at both global and regional levels, providing comprehensive insights for businesses and stakeholders.
The global online gambling & betting market size was US$ 61.5 billion in 2021. The global online gambling & betting market is forecast to grow to US$ 171.2 billion by 2030 by registering a compound annual growth rate (CAGR) of 10.9% during the forecast period from 2022 to 2030.
Online gambling & betting refers to the method of gambling or betting over the internet. Just like conventional betting and gambling, online gambling & betting also involves the risk of money or other valuable things that players keep at stake. Some of the widely renowned gambling & betting games include poker, slots, bingo, roulette, lotteries, keno, casinos, etc.
Factors Influencing the Market
Technologies like Virtual Reality (VR) and Augmented Reality (AR) are gaining significant traction, which will bring opportunities for the online gambling & betting market. These technologies are rapidly evolving, gaining a vital place in the online gambling sector to deliver a more immersive and realistic environment for their customers. Through augmented reality, players can even see other players. Thus, the rising demand for the involvement of technology in games to develop more immersive experiences is expected to boost the growth of the online gambling & betting market during the study period. A rising number of interesting commercials will attract more users to online gambling & betting platforms.
Growing internet penetration will propel the online gambling & betting market forward. It is attributed to the growing digitization and legalization of online betting and gambling games. On the flip side, concerns related to cybercrimes may limit the growth of the online gambling & betting market during the study period.
COVID-19 Impact Analysis
Due to the COVID-19 pandemic, the user base on online gambling & betting platforms increased, owing to the sudden rise in internet penetration, growth in the use of mobile phones, and prolonged lockdowns. Apart from that, the sudden shutdown of educational institutions and work-from-home culture further attracted people to online gambling & betting platforms. Recognizing the potential scope, various industry players increased their online gambling offerings. Thus, the overall COVID-19 pandemic has positively affected the online gambling & betting market.
Europe held the largest market share in the online gambling & betting market and is expected to continue to dominate during the study period. It is attributed to the rise in the awareness of gambling and betting and increasing internet penetration in the region.
The large population of Asia-Pacific will bring lucrative opportunities for the online gambling & betting market in the region. Developing economies like India, China, and others are expected to outline the growth prospects of the online gambling & betting market due to rising internet penetration.
Competitors in the Market
? Bet365 Group Ltd? 888 Holdings plc? Betfred Ltd.? Fortuna Entertainment Group? GVC Holdings Plc,? Hong Kong Jockey Club? Kindred Group? mybet Holding? Paddy Power Betfair Plc? Playtech.
? Other Prominent Players
The global online gambling & betting market segmentation focuses on Gaming, Device, and Region. By Gaming Type? Poker? Casino? Sports Betting? Bingo? Lottery? OthersBy Device? Desktop? Mobile
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By Regional Outlook? North Americao The U.S.o Canadao Mexico? Europe Western Europeo The UKo Germanyo Franceo Italyo Spaino Rest of Western Europe Eastern Europeo Polando Russiao Rest of Eastern Europe? Asia Pacifico Chinao Indiao Japano Australia & New Zealando ASEANo Rest of Asia Pacific? Middle East & Africa (MEA)o UAEo Saudi Arabiao South Africao Rest of MEA? South Americao Brazilo Argentina
o Rest of South America
Table of Content
Chapter 1: Global Online Gambling And Betting Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Online Gambling And Betting market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Online Gambling And Betting Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Online Gambling And Betting market Size Forecast (2023-2031).
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Online Gambling And Betting market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
Online Gambling And Betting market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Online Gambling And Betting market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Online Gambling And Betting business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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