Report Scope & Overview:
The Online Gambling & Betting market size was valued at USD 2.78 Bn in 2021 and is expected to reach USD 123.30 Bn by 2028, and grow at a CAGR of 71.9% over the forecast period 2022-2028.
The term "online gambling," often known as "online betting" or "internet gambling," refers to a variety of online activities. It refers to any type of gambling that takes place through the internet. Players can place bets on live sports or other connected events in order to win prizes or money. Virtual poker, sports betting, and casinos are all included. Online betting platforms, mobile apps, and websites are becoming increasingly popular throughout the world.
The Online Gambling & Betting market consists of the sale of gambling activities over the internet by entities (organizations, sole traders, or partnerships) that operate Online Gambling & Betting facilities such as online casinos, online bingo, online lotteries, online poker, online video games, and sports betting, among other things. Users may bet real money while playing remotely or from anywhere in the world using these services. The Online Gambling & Betting market covers the sale of gaming services via mobile, desktop, and other platforms.
Following are observations and trends for the online gambling industry that may be expected over the forecasting period, which can, by the way, tremendously assist you in understanding the Online Gambling and Betting Market.
1. Bitcoin and other cryptocurrencies
2. For bookmakers and gamblers, e-sports betting will be a game-changer.
3. Virtual and Augmented Reality, since gamblers want more and better visuals at the same time.
4. Smartwatches are becoming increasingly popular. It should come as no surprise that numerous online gaming companies are developing wearables and smartphone apps for various operating systems.
Raising online gaming investment.
The ever-increasing number of live casinos throughout the world.
Cybercrime is on the rise.
Software hacking and phony programs are used to manipulate signals.
Because cryptocurrency is quick and secure, gambling with it opens up a world of possibilities
Gambling has been permitted in a number of nations throughout the world due to job opportunities.
Cryptocurrency transactions are subject to a number of regulations.
App-based theft is becoming more prevalent in the online gaming industry.
IMPACT OF COVID-19:
The COVID-19 epidemic slowed the market's expansion. Land-based casino businesses have been impacted by the various nations' and governments' lockdown and social distancing restrictions. Several land-based gambling establishments were compelled to close, including bingo halls, casinos, clubs, pubs, horseracing tracks with electronic gambling machines (EGMs), betting shops, poker rooms, and lottery merchants. Due to the lockout, many gambling market players have turned to internet gaming. Many people have turned to internet gambling as a result of having more free time and boredom. Gambling activity on internet platforms has decreased as major sporting events have been canceled or postponed. However, following COVID-19, the sector has seen a spike in online gambling as a result of the relaxation of lockdown restrictions and the restoration of live sports events throughout the world.
In 2021, the sports betting category held the greatest proportion of the worldwide market. The segment's growth is expected to be fueled by the increasing popularity of digital platforms throughout the world. The sector growth is likely to be aided by the increased spending ability of the people in emerging countries as per capita income rises. The Poker category, on the other hand, is growing at a steady rate in the total market. This can be attributed to a variety of things, such as the enormous popularity of virtual card games and others. One of the primary aspects driving the segment's growth is the convenience provided by digital platforms. Wallets, credit/debit cards, and cryptocurrencies are all accepted by the majority of sites and platforms. Furthermore, the availability of a diverse choice of online poker games is expected to enhance the industry's growth.
In 2021, the desktop category had the most revenue share, and it is likely to continue to lead the market in the next years. The enhanced capabilities supplied by PCs for virtual betting are responsible for the segment's significant rise. The desktop includes a large screen that allows the gambler to see all of the game's detailed nuances. Other computer settings, like as graphics, picture quality, and loudness, can also improve the whole experience. The mobile category is also expected to increase significantly over the world. Globally, this rise can be ascribed to rising smartphone and internet adoption. Furthermore, several advantages such as the ease of access provided by mobile phones, the mobility provided, and the enhanced deposit possibilities, among others, are likely to present the market with significant development opportunities. The growing availability of numerous low-cost and freemium mobile applications is likely to promote the segment's growth. Fake mobile apps and app-based hacking, on the other hand, are expected to stifle the segment's growth.
KEY MARKET SEGMENTS:
On The Basis of Type
On The Basis of Device
Furthermore, several advantages such as the ease of access provided by mobile phones, the mobility provided, and the enhanced deposit possibilities, among others, are likely to present the market with significant development opportunities. The growing availability of numerous low-cost and freemium mobile applications is likely to promote the segment's growth. Fake mobile apps and app-based hacking, on the other hand, are expected to stifle the segment's growth.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
The major key players are William Hill, Bet365, Paddy Power Betfair PLC, Betsson AB, Ladbrokes Coral Group PLC, The Stars Group Inc., 888 Holdings PLC, Sky Betting, and Gaming, Kindred Group PLC, GVC Holdings PLC.
|Market Size in 2021||US$ 2.78 Bn|
|Market Size by 2028||US$ 123.30 Bn|
|CAGR||CAGR of 71.9% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Type (Sports Betting, Casinos, Poker, Bingo, Others)
• By Device (Desktop, Mobile, Others
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||William Hill, Bet365, Paddy Power Betfair PLC, Betsson AB, Ladbrokes Coral Group PLC, The Stars Group Inc., 888 Holdings PLC, Sky Betting, and Gaming, Kindred Group PLC, GVC Holdings PLC.|
|Key Drivers||• Raising online gaming investment.
• The ever-increasing number of live casinos throughout the world.
|Market Challenges||• Cryptocurrency transactions are subject to a number of regulations.
• App-based theft is becoming more prevalent in the online gaming industry.
Frequently Asked Questions (FAQ) :
Ans: - The Online Gambling & Betting market size was valued at USD2.78 Bn in 2021.
Ans: - Raising online gaming investment and the ever-increasing number of live casinos throughout the world.
Ans: - Bitcoin and other cryptocurrencies and for bookmakers and gamblers, e-sports betting will be a game-changer.
Ans: - The major key players are William Hill, Bet365, Paddy Power Betfair PLC, Betsson AB, Ladbrokes Coral Group PLC, The Stars Group Inc., 888 Holdings PLC, Sky Betting, and Gaming, Kindred Group PLC, GVC Holdings PLC.
Ans: - The study includes a comprehensive analysis of Online Gambling & Betting Market trends, as well as present and future market forecasts. DROC analysis, as well as impact analysis for the projected period. Porter's five forces analysis aids in the study of buyer and supplier potential as well as the competitive landscape etc.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of the Ukraine- Russia war
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Online Gambling & Betting Market Segmentation, by Type
8.1 Sports Betting
9. Online Gambling & Betting Market, by Device
10. Regional Analysis
10.2 North America
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4.2 South Korea
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.3 South Africa
10.6 Latin America
10.6.3 Rest of Latin America
11. Company Profiles
11.1 William Hill
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.3 Paddy Power Betfair PLC
11.4 Betsson AB
11.5 Ladbrokes Coral Group PLC
11.6 The Stars Group Inc.
11.7 888 Holdings PLC
11.8 Sky Betting and Gaming
11.9 Kindred Group PLC
11.10 GVC Holdings PLC
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
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