Global Online Casino Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Online Casino Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Online casinos are online versions of traditional casinos. Online casinos enable gamblers to play and wager on casino games through the Internet. It is a prolific form of online gambling.

Market Overview:

The latest research study on the global Online Casino market finds that the global Online Casino market reached a value of USD 24984.34 million in 2022. It’s expected that the market will achieve USD 56921.42 million by 2028, exhibiting a CAGR of 14.71% during the forecast period.

Market Drivers

The increasing popularity of smartphones is driving the online casino market. With every person having their mobile device, both mobile and social gaming have a huge impact on the online casino world. There has been an increase in people choosing to use their phones for gaming. Take Japan as an example, after years of lagging behind major world markets, smartphone penetration in Japan has taken off, and significantly so, from just 15 percent of the population in 2011 to more than 75 percent today, according to the Japan Communications and Information Network Association. The proliferation of handheld devices has paved the way for an explosion in mobile app development in recent years, profoundly affecting online casino industry. Besides, in recent years, electronic payment systems have swept the world. Online casinos that support a diverse range of payment systems will also benefit.
The online casino business has changed their business model to adapt to the demands and new regulations. We can notice many innovative blockchain technologies in the online casino industry which help eliminate any fraud or detectable duplication in the gambling industry by creating a reliable decentralized random number generator (dRNG) using blockchain technology. This solution can be used for any random number that needs to be true, fair, reliable and verifiable, thus increasing customer trust and commitment. Businesses will be able to verify all transactions, as well as review the dRNG algorithm for every bet, game or business activity in any online gambling industry. These impressive speeds and quantities generate highly transparent random numbers that build trust with players and therefore increase their market share. This also optimizes bureaucracy as online gambling operators do not have to deal with a large number of authorities such as government agencies and private organizations. Near-zero transaction fees and proven solutions for generating fair and impartial public random numbers based on blockchain technology will become the new standard. The application of new technologies will help in the expansion of the online casino market.

Region Overview:

Europe had the highest growth rate of all regions.

Company Overview:

The top three companies are Entain PLC (GVC), The Stars Group and Kindred with the revenue market share of 5.27%, 5.13% and 4.32% in 2020.

GVC Holdings has changed name to Entain PLC in 2020. Entain plc is one of the world's largest sports betting and gaming groups operating in the online and retail sector. They offer sports betting, casino, poker and bingo online and operate some of the industry's most iconic brands including Ladbrokes, Coral, BetMGM, bwin, Sportingbet, Eurobet, partypoker, partycasino, Gala and Foxy Bingo.

The Stars Group is a provider of technology-based product offerings in the global gaming and interactive entertainment industries. Its brands have millions of registered customers globally and collectively are leaders in online and mobile betting, poker, casino and other gaming-related offerings.

Segmentation Overview:

By type, Slots segment accounted for the largest share of market in 2021.

Application Overview:

By application, the Desktops and Laptops segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Online Casino market covered in Chapter 3:

888 Holdings PLC
William Hill
Flutter Entertainment
Kindred
Entain PLC (GVC)
The Stars Group
NetEnt
Betsson AB

In Chapter 4 and Chapter 14.2, on the basis of types, the Online Casino market from 2018 to 2029 is primarily split into:

Slots
Jackpots
Table Games

Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Online Casino market from 2018 to 2029 covers:

Desktops and Laptops
Mobiles & Tablets

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)