Dublin, June 10, 2024 (GLOBE NEWSWIRE) -- The "Online Gambling Global Market Opportunities and Strategies to 2033" report has been added to ResearchAndMarkets.com's offering.
The global online gambling market reached a value of nearly $88.7 billion in 2023, having grown at a compound annual growth rate (CAGR) of 10.4% since 2018. The market is expected to grow from $88.7 billion in 2023 to $151.9 billion in 2028 at a rate of 11.4%. The market is then expected to grow at a CAGR of 10.7% from 2028 and reach $252.6 billion in 2033.
Growth in the historic period resulted from the legalization of gambling, adoption of cryptocurrency, increasing adoption of online gaming and strong economic growth. Factors that negatively affected growth in the historic period were high taxation on casinos.
Going forward, the rise in smartphone adoption, increasing internet penetration, integration of artificial intelligence and rising popularity of online casinos will drive the market. Factors that could hinder the growth of the online gambling market in the future include escalation of cybersecurity threats.
The online gambling market is segmented by game type into betting, casino, lottery, poker, bingo and other game types. The betting market was the largest segment of the online gambling market segmented by game type, accounting for 47.3% or $42 billion of the total in 2023. Going forward, the casino segment is expected to be the fastest growing segment in the online gambling market segmented by game type, at a CAGR of 12.7% during 2023-2028.
The online gambling market is segmented by device into desktop, mobile and other devices. The desktop market was the largest segment of the online gambling market segmented by device, accounting for 45.4% or $40.2 billion of the total in 2023. Going forward, the mobile segment is expected to be the fastest growing segment in the online gambling market segmented by device, at a CAGR of 12.7% during 2023-2028.
Western Europe was the largest region in the online gambling market, accounting for 36.2% or $32.1 billion of the total in 2023. It was followed by North America, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the online gambling market will be South America and North America, where growth will be at CAGRs of 13.7% and 12.7% respectively. These will be followed by Africa and Eastern Europe, where the markets are expected to grow at CAGRs of 12.2% and 11.3% respectively.
The global online gambling market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 22.6% of the total market in 2022. Flutter Entertainment Plc was the largest competitor with a 9.2% share of the market, followed by Bet365 Group Ltd with 4.4%, Entain Plc with 3.1%, Kindred Group PLC with 1.4%, Betfred with 1.3%, DraftKings Inc with 1.1%, 888 Holdings PLC with 1%, Betsson AB with 0.7%, Rank Group plc with 0.3% and Pari Mutuel Urbain with 0.1%.
The top opportunities in the online gambling market segmented by game type will arise in the betting segment, which will gain $30.7 billion of global annual sales by 2028. The top opportunities in the online gambling market segmented by device will arise in the mobile segment, which will gain $30.6 billion of global annual sales by 2028. The online gambling market size will gain the most in the USA at $17 billion.
Market-trend-based strategies for the online gambling market include focus on strategic collaborations and sales partnerships, launch of new online sports betting brands, launch of innovative online gaming platforms and increased focus on mobile sports betting platforms.
Player-adopted strategies in the online gambling market include focus on expanding recreational customer base through new product solutions, focus on diversifying businesses by scaling up capabilities through new strategic partnerships and focus on expanding scalability, security and agility through new technology advancements.
To take advantage of the opportunities, the analyst recommends the online gaming companies to focus on online sports betting expansion, focus on innovative online gaming platforms, focus on mobile sports betting platforms, focus on casino segment, focus on mobile segment, focus on strategic partnerships, expand in emerging markets, continue to focus on developed markets, focus on data-driven personalization, focus on responsible gambling advocacy, focus on smartphone users and focus on targeting end users for enhanced engagement.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider online gambling market; and compares it with other markets.
Markets Covered:
1) By Game Type: Betting; Casino; Lottery; Poker; Bingo; Other Game Types
2) By Device: Desktop; Mobile; Other Devices
Key Companies Mentioned: Flutter Entertainment Plc; Bet365 Group Ltd.; Entain Plc; Kindred Group PLC; Betfred
Countries: China; Australia; India; Japan; South Korea; USA; Canada; Brazil; Belgium; France; Germany; Italy; Netherlands; Spain; UK; Sweden; Switzerland; Romania; Greece
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; online gambling indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 293 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $88.6 Billion |
| Forecasted Market Value (USD) by 2033 | $252.5 Billion |
| Compound Annual Growth Rate | 11.0% |
| Regions Covered | Global |
Companies Profiled:
- Flutter Entertainment Plc
- Bet365 Group Ltd.
- Entain Plc
- Kindred Group PLC
- Betfred
- DraftKings Inc.
- 888 Holdings PLC
- Betsson AB
- Rank Group plc
- Pari Mutuel Urbain
- 500.com
- WinZO
- Junglee Games
- Mobile Premier League (MPL)
- Dream Sports
- QQ Lottery
- Las Atlantis
- Sports Toto Malaysia
- Ruby Fortune
- Jackpot City
- SPIN Casino
- 32Red
- Royal Vegas
- Europa Casino
- GVC Group
- Bet.pt
- Pariplay Ltd
- ZEAL
- Gauselmann Group
- BetEnt BV
- QSB Gaming
- Ladbrokes Coral
- Sky Betting & Gaming
- Super slots
- CODERE
- SuperWins
- Bede Gaming
- Betfair
- Buzz Bingo
- 7777 Gaming
- EverBet
- EveryMatrix
- 888.ru
- SuperBet Group
- Gameworld.ro
- GG.BET
- iGaming
- Kings Entertainment Group Inc
- SkillOnNet
- Gambling.com Group Limited
- Evolution Gaming
- Scientific Games- USA
- Buffalo Partners- USA
- Royal Panda- Canada
- Betway-Canada
- LeoVagas.com- Canada
- Bet365 Casino- Mexico
- 22Bet- Mexico
- 1XBet- Mexico
- Inkabet
- Casino.Com
- Slots Million
- Mansion Casino
- Slots Heaven Casino
- Play Frank Casino
- Cherry Casino
- Redbet Casino
- BGO Casino
- BetWarrior
- Lottoland Limited
- NeoGames S.A.
- Emirates Draw
- Mahzooz
- BuyLottoOnline
- SunBet
- BetKing
- Betcoza
For more information about this report visit https://www.researchandmarkets.com/r/46uqnk
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