Global Online Gambling Market - Market Size & Forecast To 2032

GLOBAL ONLINE GAMBLING MARKET - MARKET SIZE & FORECAST TO 2032

The global online gambling market is estimated to be worth of usd 65.2 billion in 2023 and is growing at a CAGR of 12.8% during the forecast period from 2023 to 2032. The online gambling market research report discusses the importance of the segments as well as the regional markets. An accurate overview for different segments and regions has been prepared on the basis of the market size as well as the growth rate (CAGR). The market research offers a growth map of the global online gambling market to help clients design the required strategies to meet their business goals.

Online gambling is any kind of gambling conducted on the internet. Any individual or entity engaged in the business of accepting, placing, receiving or otherwise knowingly transmitting a bet or wager by any means which involves the use, at least in part, of the Internet, and would include online businesses offering sports betting, online poker or other games of chance.

Legalization of online gambling has been a major growth factor towards online gambling across globe. Legalization has resulted in emergence of many startups and global players providing online gambling services. For instance, in May 2022, Governor Janet Mills signed LD 585 into law, legalizing sports betting in Maine, USA. The law gives sports betting exclusively to the state’s Native American tribes and grants broad power to the state regulator to decide what sports betting will look like in the state.

Additionally, rise of smartphone and internet penetration has subsequently resulted in online gambling growth. Furthermore, corporate sponsorships and celebrity endorsements are also expected to trigger market growth during the review period.

Key market players profiled for Online Gambling are BET365 (UK), Casino International (roar) (US), Caesars Entertainment (US), Draftkings Inc. (US), Entain Plc (Isle Of Man), Flutter Entertainment Plc (Ireland), 888 Holdings (gibraltar), Light & Wonder, Inc.( US), Ladbrokes Coral Group Plc (UK), Las Vegas Sands Corporation (US), Ladbrokes Coral Group Plc (UK), Penn National Gaming (US), Sugarhouse Casino (us), Score Media And Gaming Group (Canada), Sky Betting And Gaming (UK), Kindred Group Plc (Malta), William Hill (UK), Wynn Resorts Holdings (US), and 0thers

Based on type, the market is segregated into poker, casino, sports betting and lottery.

Poker, casino, sports betting and lottery are some of the most popular forms of online gambling. Within poker, there are different forms such as 7 card stud, omaha and many among others. Casino game is bifurcated into slots, blackjack, roulette, others. Sports betting is bifurcated into boxing & ufc, esports, football, formula1, cricket, and others. Lottery segment is bifurcated into scratch-offs, state lotteries, bingo, and many among others.

Global online gambling is primarily driven by growth of online sports betting across regions. Technological innovations have let sports betting more diverse, with provisions of more opportunities to bet on where an individual interest lies in. Availability of different types of sports have led towards its popularity. Gamblers who prefer traditional sports can opt for sports such as cricket, football, basket ball and other. Whereas, young population can opt for modern eSports such as formula1 etc.

On the basis of device, the market is bifurcated into desktop, mobile and others.

Convenience while gambling has been a major growth factor in recent years. In many countries, gambling is still not socially accepted. Technological advancement has made the gambling industry more convenient and straightforward. Gamblers can now play games sitting at home which has resulted in making gambling easily accessible across different age groups. Desktops and mobiles are anticipated to create substantial growth for online gambling in near future.

Based on region, the online gambling market has been segmented into North America, Europe, Asia pacific, Africa, and South America. In 2022, the Europe accounted for the significant share xx.xx% in the global online gambling market. This region was valued at usd xx.xx million in 2022, and it is projected to grow at a CAGR of xx.xx% during the forecast period, reaching USD xx.xx million by 2032.

Europe holds the biggest portion of the online gambling market and is expected to remain dominant during the forecasted period. UK laws regarding online gambling are friendly and lenient. This has resulted in emergence many many online gaming service provider from UK alone. Withing Europe, UK, France & Germany are some of the biggest markets for online gambling.

Asia Pacific region is expected to rapidly grow during the forecasted period. Growth of smartphone adoption across Asia Pacific countries, rising internet connectivity along with emergence of online gambling service providers are some of the key driving factors towards its growth during the forecast period.