Casinos Market to Grow with Sustainable CAGR During 2022
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The global online gambling market will grow to about $172 billion by 2030. This growth represents a CAGR of 11.6% in the same period. Online gambling has been arguably the fastest growing industry globally in last decade.
Mobile gambling is the most preferred gambling mode globally. Mobile payment methods like Pay by Phone, Apple Pay, and others have contributed to the industry’s growth. Online casino operators have developed mobile apps and mobile-optimized websites to cater to mobile gamblers” needs.
Sports betting industry is projected to grow to around $139 billion by 2028. Live sports action is now available daily, so bettors have events to wager on every day. There is a World Cup this year and soccer is the most wagered sport globally. Other sports that have become popular among bet takers are basketball, tennis, American football, and horse racing.
The global gambling market is divided into five categories: type, device, and region. Sports betting is expected to lead the market in 2022. The desktop segment generated considerable online gambling activity in 2021. Mobile gambling is still expected in the coming days due to smartphone penetration.
The online gambling market is divided into five types: casinos, sports betting, bingo, poker, and others. The device segment is broken into desktop, mobile and other.
Europe is the leading region in online gambling activities. Asia-Pacific is projected to register the fastest growth between 2022 and 2030. The growth is attributed to the increased smartphone penetration in China and India. Also, rapid urbanization and increased internet penetration are contributing factors.
The casinos market is one of the most lucrative industries globally. Competition is a blessing in disguise for the gamblers. Online gambling industry is expected to grow at unprecedented rates in 2022.
