Here’s a Look at the Top Trends Shaping the Online Gambling Market
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The global online gambling market is projected to reach USD 158.20 billion by 2028. The market was USD 66.72 billion in 2020.
Slots Heaven Casino, Sky Betting & Gaming, SPIN Casino and DraftKings Inc. are the key players covered in this Market Report. Other players include LeoVegas AB, LeoBetsson AB and Evolution Gaming AB.
Slots Heaven Casino, Sky Betting & Gaming, SPIN Casino and DraftKings Inc. are the top trends shaping the Online Gambling Market.
The global health and economic crisis triggered by the COVID-19 pandemic has led to the quick adoption of virtual platforms. In Canada, spending on online casinos rose by 67% in April 2020. The market is expected to grow at a CAGR of 11.2% and reach a value of USD 74.17 billion in 2021.
The market is divided into sports betting, casinos, poker, lottery, bingo, and others. The lottery segment holds a share of 15.1% in the global market and 15% share in UK market in 2020. On the basis of devices, the market segments include desktop, mobile, and others, by region, North America, Europe, Asia Pacific, Middle East & Africa, South America.
The report offers a granular examination of the various factors shaping the growth trajectory of online gambling market. It also offers an in-depth assessment of individual market segments.
The introduction of advanced technologies in virtual gambling is opening new pathways of development for this market. Edgeless is the first Ethereum-based virtual casino that uses distributed ledger technology to ensure payouts. Tombola is a popular lottery and gambling platform driven by cryptocurrency and other blockchain-enabled tools. Quarter4 uses AI to offer simulations, content and predictions for sports bettors.
Europe is expected to dominate the online gambling market share during the forecast period. In 2020, the Europe market size stood at USD 30.92 billion. North America is second in the market in terms of revenue generation. South America will grow at a faster rate.
Key players in the online gambling market are entering into strategic collaborations with gambling industry giants to deepen their market footprint. BetMGM launched the Bet MGM Casino in Pennsylvania in December 2020. CBS Sports and William Hill inked a deal in February 2020 to integrate sports betting, media and technology to enhance fan engagement.
BetMGM launched the BetM MGM Casino in Pennsylvania in December 2020. CBS Sports and William Hill inked a deal in February 2020 to integrate sports betting, media and technology to enhance fan engagement.
