Online Gambling & Betting Market Size 2022 Share, Growth 2030 Forecast Research Report
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
• Other Prominent Players
The global online gambling & betting market segmentation focuses on Gaming, Device, and Region.
By Gaming Type
• Sports Betting
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By Regional Outlook
● North America
o The U.S.
▪ Western Europe
o The UK
o Rest of Western Europe
▪ Eastern Europe
o Rest of Eastern Europe
● Asia Pacific
o Australia & New Zealand
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Rest of South America
What is the goal of the report?
1.The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
2.During the forecast period, the report analyzes the growth rate, market size, and market valuation.
The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
3.The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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