Global Online Gambling Market Report and Forecast 2024-2032

Global Online Gambling Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global online gambling market size attained a value of nearly USD 64.27 billion in 2023. Aided by the accelerated adoption of digital platforms and the increasing legalisation of online gambling across various countries, the market is further expected to grow at a CAGR of 11.40% during the forecast period of 2024-2032 to attain a market size of about USD 122.84 billion by 2032.

Online gambling, encompassing sports betting, casino games, poker, and various other gaming forms, has witnessed a surge in popularity due to its convenience, accessibility, and the diverse range of options it offers. The proliferation of internet services and the growing use of smartphones have significantly contributed to the accessibility and popularity of online gambling platforms.

One of the primary drivers of the online gambling market growth is the increasing digitalisation of the gambling industry. Traditional gambling venues are progressively expanding their operations online, thereby broadening their customer base and enhancing user experience with innovative technology. The integration of live streaming with online betting, virtual reality casinos, and the use of blockchain for secure and transparent transactions are some examples of technological advancements propelling the market growth.

Another significant factor contributing to the online gambling market demand is the evolving regulatory landscape. Several countries are revising their gambling laws to include provisions for online gambling, thereby creating a more structured and safer environment for consumers. This regulatory shift is not only legitimising online gambling but also helping in curbing illegal gambling activities.

The variety of gaming options available online is a substantial draw for consumers. From traditional casino games like blackjack and roulette to sports betting on global events, online platforms cater to a wide array of interests and preferences. The introduction of esports betting has further influenced the online gambling market outlook, tapping into a younger demographic and expanding the consumer base.

The social aspect of online gambling also plays a crucial role in its growth. Many platforms offer interactive features like live dealers, chat rooms, and multiplayer games, creating a community atmosphere that attracts users. This social dimension, combined with the convenience of gambling from home, makes online platforms more appealing than traditional gambling venues.

Market Segmentation

The market can be divided based on type, device, and region.

Market Breakup by Type

• Sports Betting
• Casinos
• Poker
• Bingo
• Others

Market Breakup by Device

• Desktop
• Mobile
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global online gambling market. Some of the major players explored in the report by Expert Market Research are as follows:

• bet365
• Flutter Entertainment plc
• 888 Holdings Plc
• Kindred Group plc
• Entain plc
• WHG (International) Limited
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.