The global online gambling market size reached US$ 79.8 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 133.9 Billion by 2028, exhibiting a growth rate (CAGR) of 8.5% during 2023-2028.
Online gambling, or virtual gambling, refers to betting on casino or sports-based activities over the internet. In comparison to in-person gambling, online gambling does not involve physical interaction of players and all the sessions are moderated by computer programs. Players can virtually play various games, such as sports betting, blackjack, poker, roulette and slot machines. They can download gambling software on their personal computers or can play through a website. Online gambling offers various benefits, such as cashless transactions, accessibility through any electronic device, customizable budget and real-time gambling experience for the players.
Online Gambling Market Trends:
Rapid urbanization, along with the increasing penetration of the internet across the globe, is one of the key factors driving the growth of the market. Furthermore, legalization and cultural approval of online betting in various developed countries are also providing a boost to the market growth. Online sports companies are also attaining high-profile sponsorships with various football and racing clubs, which helps attract new users. In line with this, convenient access to online casinos that can be used through mobile phones is also creating a positive impact on the online gambling industry.
Various technological advancements, such as the development of virtual reality (VR) and blockchain tools, are acting as another growth-inducing factor. These technologies aid in maintaining the transparency of gambling activities and provide an immersive experience to the player. Other factors, including increasing expenditure capacities of the consumers, along with the advent of bitcoin gambling, are expected to drive the market further.
Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global online gambling market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on game type and device.
Breakup by Game Type:
Breakup by Device:
Breakup by Region:
Middle East and Africa
The global online gambling industry is highly fragmented with the presence of several small and large players. Some of the leading players in the market are:
888 Holdings PLC
Bet365 Group Ltd.
Cherry Spelgladje AB
Flutter Entertainment Plc
Galaxy Entertainment Group
GVC Holdings Plc
Kindred Group Plc
LeoVegas Mobile Gaming Group
MGM Resorts International
Key Questions Answered in This Report
1. What was the size of the global online gambling market in 2022?
2. What is the expected growth rate of the global online gambling market during 2023-2028?
3. What are the key factors driving the global online gambling market?
4. What has been the impact of COVID-19 on the global online gambling market?
5. What is the breakup of the global online gambling market based on the game type?
6. What is the breakup of the global online gambling market based on the device?
7. What are the key regions in the global online gambling market?
8. Who are the key players/companies in the global online gambling market?