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Gambling Global Market Report 2022

Gambling Global Market Report 2022

  • February 2022
  • 300 pages
  • ID: 6236960
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major companies in the gambling market include China Sports Lottery, China Welfare Lottery, Sociedad Estatal Loterías y Apuestas del Estado S.A., Flutter Entertainment plc., Maruhan, The Hong Kong Jockey Club, Tabcorp Holdings Ltd., Penn National Gaming, Inc., Caesars Entertainment Corporation and LAS VEGAS SANDS CORP.

The global gambling market is expected to grow from $287.43 billion in 2021 to $458.93 billion in 2022 at a compound annual growth rate (CAGR) of 59.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $458.93 billion in 2026 at a CAGR of 18.4%.

The gambling market consists of sales of gambling services and related goods by entities (organizations, sole traders and partnerships) that operate gambling facilities, such as casinos, bingo halls, video gaming terminals, lotteries, and off-track sports betting.Gambling is the act of wagering money or something of value on an event with an uncertain outcome that is not under gambler control, with an intent of winning money.

Bingo parlors, coin-operated gambling device concession operators, bookmakers, lottery ticket sales agents, and card rooms are also included in this market. The gambling market also includes sales of gambling services and related goods by entities that operate casino hotels.

The main types of gambling are casino, lotteries, sports betting and other gambling.A lottery is a type of gambling in which numbers are drawn at random for a prize.

The various channels include offline, online, virtual reality (VR) and is used in several end users such as gambling enthusiasts, social exuberant, others.

Asia Pacific was the largest region in the gambling market in 2021.Eastern Europe is expected to be the fastest-growing region in the forecast period.

The regions covered in the gambling market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Changing Consumer Gambling Habits: The demand for gambling is expected to be driven by the changing gambling habits of consumers.The increasing popularity of gambling apps and social gambling will propel the growth of the market going forward.

The global social casino market is reached $4.64 billion in 2020, grew at a CAGR of 5%. The increasing adoption of mobile devices and increasing internet penetration will drive the demand for online gambling, driving market growth.

Coronavirus Pandemic: The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the gambling market in 2020 as governments globally imposed lockdowns and restricted domestic and international travel limiting the need for services offered by these establishments.COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.

The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia.Steps by national governments to contain the transmission have resulted in closure of recreational facilities such as casinos with countries entering a state of ’lock down’ and the outbreak had a negative impact on businesses throughout 2020 and into 2021.

However, it is expected that the gambling market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.

Branded slots are increasingly becoming popular in the gambling industry.Branded slots are licensed online casino games built around universally popular subjects such as movies, TV shows, music or books.

Brand loyalty draws the customers towards trying slot games revolving around their favorite characters.Branded online slot games attract casual bettors, even the ones with little experience and interest in slot machines, as they create a connection with the players due to their familiarity with characters on the slots, increasing the traffic on the slot machines.

Branded slots based on Game of Thrones, Westworld, Batman, and Jurassic Park are some of the most popular branded slot games.

The countries covered in the gambling market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.

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