Online Gambling Market by Game (Bingo, Casino/Poker, Lottery), Device (Desktop, Mobile), Payment Mode - Global Forecast 2024-2030

Online Gambling Market by Game (Bingo, Casino/Poker, Lottery), Device (Desktop, Mobile), Payment Mode - Global Forecast 2024-2030

The Online Gambling Market size was estimated at USD 79.80 billion in 2023 and expected to reach USD 88.33 billion in 2024, at a CAGR 10.57% to reach USD 161.32 billion by 2030.

Online gambling encompasses the remote gaming activities offered through the internet, which includes online betting, casino games, poker, lotteries, and other gambling services. The accessibility of internet services globally, the convenience of online platforms, and the widespread use of smartphones and other devices foster the growth of the market and provide diverse ways for consumers to participate in gambling activities. Applications for online gambling extend across various digital platforms, including desktop and mobile devices. Growing innovations in mobile technology and user experience with increased acceptance and cultural changes toward gambling are driving the growth and demand for online gambling. However, regulatory constraints in various jurisdictions, cybersecurity threats, and concerns related to the social impact associated with gambling addiction hamper the growth of the market. Key players are exploring advanced encryption technologies to promote data security and mitigate privacy issues associated with online gambling. Furthermore, the growing use of augmented reality (AR) and virtual reality (VR) to enhance user engagement and AI to personalize gaming experiences can provide new avenues of growth for the online gambling market.

Regional Insights

The online gambling market in the Americas is rapidly growing due to favorable governmental legalization frameworks, a growing potential consumer base, and high internet penetration. The move toward legalizing gambling throughout most of America's economies is gaining momentum. Technological innovations such as AR/VR technologies and integration with AI have driven consumer preference for online gambling. The online gambling market in the APAC region is presenting lucrative growth opportunities. The competitive landscape in the region is quite fragmented and unclear regarding restricted legal access to online gambling websites. Europe represents a strong demand for online gambling due to high smartphone and internet penetration with diverse regulatory frameworks for online gambling platforms. Favorable legislation and legalization have played an essential role in opening more legal spaces for online gambling. The Middle East online gambling market is regulated by Arabic gambling laws that vary by country, and a few countries have legal gambling; however, online gambling is still illegal throughout the Middle East. There are liberalized laws for lottery sales and sports betting in Israel, Lebanon, and Morocco.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Online Gambling Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Increasing smartphone adoption coupled with the high internet penetration
    • Gradual legalization of online gambling and relaxation of government regulations & policies
    • Market Restraints
      • Cybercrime & hacking issues related to the online gambling platform
      • Market Opportunities
        • Technology advancements in online gambling platforms
        • Adoption of virtual currencies and blockchain for payment processing
        • Market Challenges
          • Cultural barriers & rising addiction behavior issues
          • Slow adoption of online gambling in favor of land-based casinos
          • Market Segmentation Analysis
            • Game: Growing popularity of casino/poker such as slots, blackjack, and roulette
            • Device: Significant adoption of desktops for online gambling as it provides a stable and enriched gaming experience
            • Payment Mode: Rising potential of virtual money among risk-averse audience
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Online Gambling Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Online Gambling Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Strategic Alliance between STICPAY and Bojoko Enhances Online Casino Payment Solutions
              
              STICPAY, a player in e-wallet services, and payment solutions, has announced a strategic partnership with Bojoko, a leading online casino comparison platform. This collaboration is aimed at enhancing the online gambling experience by integrating STICPAY’s reliable and secure payment methods into the Bojoko platform. This partnership showcases both companies' commitment to improving service delivery for global online gaming enthusiasts by facilitating informed decision-making and offering efficient transactional solutions.
              
              Enhanced Bingo Offerings through QTech Games and S4Gaming Partnership
              
              QTech Games has strengthened its bingo portfolio by enhancing its alliance with S4Gaming, incorporating a new selection of non-jackpot bingo games into its offerings. This strategic partnership broadens QTech Games' product range and also facilitates S4Gaming's expansion into emerging markets across Asia and Latin America. This collaboration underscores a commitment to diversifying gaming content and reaching a broader costumer base in various regions.
              
              Innovations in Mobile Sports Betting: Launch of BetMGM Nevada App
              
              BetMGM has launched a redesigned mobile sports betting app in Las Vegas, which was developed in collaboration with Entain. This upgraded platform introduces a vast array of betting options, including numerous prop and parlay wagers. Enhanced with live streaming features, the app also facilitates streamlined digital transactions, allowing users to handle deposits and withdrawals electronically. These advancements aim to enrich the sports betting experience, responding to the growing consumer demand for accessible and dynamic online gambling solutions.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Online Gambling Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Online Gambling Market, highlighting leading vendors and their innovative profiles. These include 1xBet, 888 Holdings PLC, Action Network, Inc. by Better Collective A/S, beBettor Limited, Bet365 Group Ltd., Betsson AB, Blaze by Prolific Trade N.V., Bovada, Caesars Entertainment, Inc., Dafabet, Entain PLC, Evolution Gaming Group, Flutter Entertainment PLC, Fortuna Entertainment Group A.S., Gamesys Group PLC by Bally's Corporation, Genius Sports Group, Huddle Gaming Inc., Huuuge, Inc., Jackpocket, Inc., Kindred Group PLC, Light & Wonder, Inc., MGM Resorts International, Playstar Gaming Group, Practice Ignition Group, Rush Street Interactive, Inc., SGHC Limited, SportPesa, The Hong Kong Jockey Club, and Zodiac Casino by Casino Rewards.
            
            Market Segmentation & Coverage
            
            This research report categorizes the Online Gambling Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Game
              • Bingo
              • Casino/Poker
              • Lottery
              • Social Gaming
              • Sports Betting
              • Device
                • Desktop
                • Mobile
                • Payment Mode
                  • Real Money
                  • Virtual Money
                  • Region
                    • Americas
                      • Argentina
                      • Brazil
                      • Canada
                      • Mexico
                      • United States
                        • California
                        • Florida
                        • Illinois
                        • New York
                        • Ohio
                        • Pennsylvania
                        • Texas
                        • Asia-Pacific
                          • Australia
                          • China
                          • India
                          • Indonesia
                          • Japan
                          • Malaysia
                          • Philippines
                          • Singapore
                          • South Korea
                          • Taiwan
                          • Thailand
                          • Vietnam
                          • Europe, Middle East & Africa
                            • Denmark
                            • Egypt
                            • Finland
                            • France
                            • Germany
                            • Israel
                            • Italy
                            • Netherlands
                            • Nigeria
                            • Norway
                            • Poland
                            • Qatar
                            • Russia
                            • Saudi Arabia
                            • South Africa
                            • Spain
                            • Sweden
                            • Switzerland
                            • Turkey
                            • United Arab Emirates
                            • United Kingdom
                            
                            
                            Please Note: PDF & Excel + Online Access - 1 Year