Global online gambling and betting markets were valued at $ 47.2 billion in 2017 and are expected to reach $ 107.2 billion by 2026, representing a CAGR of 9.54% over a forecast period.
The aim of the report is to present a comprehensive market assessment that includes thought-proves, facts, historical data, industry-validated market data and forecasts using appropriate assumptions and methods. The report also helps to understand global online gambling and betting market dynamics by identifying and analyzing market segments and projecting global market size. In addition, the report also focuses on the competitive analysis of key players by product, price, financial condition, product portfolio, growth strategies and regional presence. The report also features PEST analysis, PORTER ™ analysis, SWOT analysis to answer shareholder questions in order to prioritize efforts and investments in the near future to the emerging portion in the global online gambling & betting market.
Gambling can be defined as risk for money or anything of material value for unsafe outcomes. The original intention is to gain extra money or material goods. Online gambling games, usually known as internet gambling, are usually betting on casino or sports games over the internet.
The constant evolution of the Internet infrastructure, coupled with the strong penetration of mobile devices, increasing urbanization and disposable incomes, the increasing use of the Internet, is driving the growth of the global online gambling and betting market. Virtual Reality Headphones create a better environment for online gambling and betting. Crypto-currency and the increasing acceptance and popularity of Internet-based devices are growing the market for online gambling and betting. The simple comfort of these games and the lure of simple money are the key factors driving the global growth of online gambling and betting.
However, the inclusion of live streaming with online gambling and the development of online gambling and betting sites with innovative technology in line with end-user requirements may open up new market opportunities.
It is estimated that sports betting holds the largest market share over the forecast period. Increasing popularity of sport and supporters of sports around the world will boost the market. The growing enthusiasm for youth sports is growing in the sports betting market. It is estimated that mobile holds the largest market share over the forecast period. The increasing use of smartphones and the penetration of the Internet is a growing part of the market. Growing trust as an online operator, as well as an increase in mobile games.
The software segment is expected to account for the largest share of the online gambling and betting market over the forecast period as various online payment options are available. In addition, the online gambling and betting market is subdivided on the basis of game type into poker, casino, sports betting, bingo, lottery, horse betting and others. It is expected that the poker segment will hold a significant share over the forecast period.
The legalization of online gambling and betting in Europe is estimated to be the largest market share in this region. The UK is the first country to be legalized for online gaming and betting, and also legalize various countries for online gaming and betting such as Italy and Spain. However, Asia-Pacific is estimated to generate the highest CAGR in the forecast period as increasing penetration of the Internet and relaxation of rules regarding online gaming and betting in this region. Also, North America is estimated to grow at a significant pace on the global online gambling betting market meanwhile it is the technically most developed region. It is expected that the US will be an important contributor to the region.