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Online Gambling Market Size to Achieve USD 172 Billion by 2030 growing at 11.6% CAGR due to the Increasing Penetration of Mobile Phones Globally – Exclusive Report by Acumen Research and Consulting
The Global Online Gambling Market Size is expected to reach a market value of around USD 172 billion by 2030 growing with a CAGR of 11.6% over the forecast timeframe, as reported by Acumen Research & Consulting
Online gambling has become one of the world’s fastest-growing sectors in the past 20 years. Every day, millions of people gamble on various platforms. As a result, the revenue generated by these websites is massive, increasing the global online gambling market value. Online gambling which is also known as internet gambling or e-gambling is witnessing a massive demand on account of the growing mobile gambling applications.
Online gambling has changed the industry landscape owing to the rising number of existing as well as new gamblers shifting towards online platforms. The ease of access, convenience, and corporate sponsorship are just a few of the factors that have shifted the focus of gamblers from offline gambling to online gambling. This factor is also expected to boost the worldwide online gambling market growth.
Report Coverage:
Market | Online Gambling Market |
Market Size 2021 | USD 65 Billion |
Market Forecast 2030 | USD 172 Billion |
CAGR During 2022 – 2030 | 11.6% |
Analysis Period | 2018 – 2030 |
Base Year | 2021 |
Forecast Data | 2022 – 2030 |
Segments Covered | By Type, By Device, And By Geography |
Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Key Companies Profiled | 888 Holdings PLC, Bet365, Betsson AB, GVC Holdings PLC, Kindred Group PLC, Ladbrokes Coral Group PLC, Paddy Power Betfair PLC, Sky Betting and Gaming, The Stars Group Inc., and William Hill. |
Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Customization Scope | 10 hrs of free customization and expert consultation |
COVID-19 Impact on the Global Online Gambling Market Value
The COVID-19 pandemic had a positive impact on the market, as consumers turned more to the online platform during lockdowns to overcome their financial, psychological, and social crises. Because of the lockdown measures and work-from-home culture, it was one of the industries that thrived during the COVID-19 pandemic. In addition to that, the various countries’ and governments’ lockdown and social distancing regulations have had an impact on land-based casino operations. As a result, regular traditional gamblers shifted their focus towards online gambling, which again fueled the market demand during the COVID-19 period.
Global Online Gambling Market Growth Aspects
Increasing penetration of Smartphone’s will fuel the global online gambling market share
Mobile gambling is becoming increasingly popular around the world. Although it is constrained alongside online gambling in some states, the mobile gambling market is expected to grow significantly in the coming years. According to gambling regulators, mobile gambling is frequently conducted by younger individuals, who are more susceptible to addiction. Sports betting is the most common form of mobile gambling; despite its association with gambling-related harm, live-action betting is aggressively marketed on mobile gambling applications in areas where betting regulation is more permissive. The introduction of payment options such as Apple Pay, Pay by Phone, and others have made a significant difference. Their withdrawal and deposit times are much shorter. Furthermore, various statistics show that mobile casinos grew in popularity during the lockdown. In some countries, the increase was nearly 100%.
Sports betting will generate the biggest online gambling market revenue in the coming years
According to our sports betting industry analysis, the market is expected to reach around USD 139 billion by 2028, growing at a CAGR of more than 10% between 2021 and 2028. Some of the online gambling market trends include increased connected device penetration and varying regulatory scenarios for the overall gambling industry. Additionally, the introduction of 5G networks, as well as the growing application of artificial intelligence and block chain technologies in the sports betting industry, is expected to generate a variety of growth opportunities over the forecast years. Furthermore, the rising popularity of sports betting gambling on games such as football, cricket, and easy understanding of these gambling among millennials are some of the leading aspects driving the market growth.
Online Gambling Market Segmentation
The global market has been divided into three sections: type, device, and region. The market is divided into five types: casinos, bingo, poker, sports betting, and others. Based on our analysis, the sports betting segment is anticipated to lead the market during the forecasted timeframe from 2022 to 2030. On the other hand, the online casino segment will achieve a substantial share in the coming years.
Furthermore, the device segment is split into desktop, mobile, and others. The desktop segment generated a significant online gambling market share in 2021, owing to the larger screens and easy visibility to enjoy their betting events. However, mobile gambling will grow at the fastest rate due to the increasing global penetration of Smartphone’s and their ease of access to online gambling apps.
Online Gambling Market Regional Outlook
North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa are the regional classification of the global online gambling market. Among all the regions, the Europe region leads the online gambling market with the majority of the share during the forecast timeframe. This could be attributed to the growing sports industry, the presence of leading players, and the ease of regulations.
On the other hand, the Asia-Pacific region is anticipated to attain the fastest growth rate from 2022 to 2030. This is ascribed to the increasing number of Smartphone users in countries such as China and India. Additionally, rapid urbanization, increasing internet penetration, and increasing adoption of crypto currency in online gambling are some of the factors that are supporting the Asia-Pacific online gambling market.
Online Gambling Market Players
Some key online gambling companies covered in the industry include 888 Holdings PLC, Bet365, Betsson AB, GVC Holdings PLC, Kindred Group PLC, Ladbrokes Coral Group PLC, Paddy Power Betfair PLC, Sky Betting and Gaming, The Stars Group Inc., and William Hill.
Compliance Updates
Why stakeholders must be vocal as part of UKGC consultation on gaming machines
As the UK Gambling Commission announces the launch of its consultation on proposed new rules for gaming machines, Nick Arron, lead partner for the Gambling Team at Poppleston Allen urges stakeholders to ensure they are heard
The UK Gambling Commission this week announced the launch of a 16-week consultation, seeking input on proposed new rules for gaming machines in retail venues.
The consultation focuses on technical standards and related testing strategy and aims to improve consumer protection through a number of proposed changes. The consultation is due to end on May 20.
Nick Arron, lead partner for the Betting and Gambling Team at Poppleston Allen, encouraged stakeholders such as operators and licensees to have their say on what impact these proposed changes will have, including the potential costs.
He said: “Robust stakeholder engagement is an important part of this progress. It’s important that operators have their say so that the regulatory framework balances both consumer safety and industry sustainability.
“Changes will require affected businesses to update their processes and technologies to ensure that any changes are not only implemented by the required date but also properly enforced.
“As this consultation progresses, operators will need to weigh the implications of adopting these new standards, not least the cost. While the intention is to enhance consumer protection, businesses must carefully assess the operational and financial implications of the proposed changes.
“While the Gambling Commission’s initiative is a positive step in prioritising consumer safety, the real challenge will be ensuring that the proposed regulatory adjustments are manageable for businesses already operating under thin margins.”
Tim Miller, Gambling Commission executive director for research and policy, said: “We recognise that regulatory changes that impact the design of machines can come with considerable costs.
“We are encouraging consumers, gambling businesses and other interested groups to share evidence that will assist us in measuring both the likely regulatory impacts of the proposed changes and the likely costs of implementing them.
“This evidence will be invaluable to helping make a robust assessment on whether the benefits to consumers are proportionate to the costs involved.”
The post Why stakeholders must be vocal as part of UKGC consultation on gaming machines appeared first on European Gaming Industry News.
Balkan's
Pateplay’s newest partner in Bosnia and Herzegovina
Pateplay is thrilled to unveil its latest strategic partnership with WWin, a premier online operator in Bosnia and Herzegovina.
Martin Yonovski, BDM & CMO at Pateplay, on the collaboration: “Partnering with WWin is a significant step forward for Pateplay. We’re eager to combine our strengths and expertise, and we’re confident this collaboration will open new doors for growth and huge success for both parties”.
Through this alliance, Pateplay is further accelerating its global expansion efforts, poised to achieve extraordinary milestones and deliver unparalleled experiences to players worldwide.
The post Pateplay’s newest partner in Bosnia and Herzegovina appeared first on European Gaming Industry News.
Compliance Updates
GoldenRace fuels growth in Europe with renewed MGA certification
GoldenRace, leading provider of award-winning Virtual Sports and betting solutions, is thrilled to announce the renewal of its Maltese certification, successfully tested by BMM lab and approved by the Malta Gaming Authority (MGA). This renewed certification keeps unlocking opportunities in Romania, Poland, Serbia and other MGA-regulated territories, giving operators a golden ticket to tap into new revenue streams in highly regulated markets.
In Romania, where 88% of the population has internet access, the online gambling market is thriving, offering significant opportunities for operators to attract a tech-savvy audience. Serbia, ranked 8th in Europe for gambling revenue, continues its rapid expansion with over 2,200 betting shops and a flourishing online gambling sector. Meanwhile, Poland’s well-regulated and mature market is a compelling destination for operators seeking sustainable growth.
Any games that have been approved under its newly recertified license in Malta, are also eligible for inclusion under its Class II license in Romania, upon the successful completion of the ONJN approval process. While this certification eases the path in these markets, local regulators may require additional approvals. Operators are advised to present these certifications to their respective regulatory authorities to ensure seamless compliance.
Markets on the rise demand winning content
Compliance may open the door, but content is what keeps players loyal. GoldenRace is helping operators target new demographics and grow market share by offering an incredible portfolio of certified games.
In markets such as Romania and Serbia, football is the main revenue force. GoldenRace continues to dominate this space with its newly certified football games, including its most new football format and games such as Football League, World Cup, Euro tournaments (Champions League & Euro League), La Libertadores and Single Soccer.
With online sports betting making up 58% of Romania’s gambling market and Serbia’s sports betting sector projected to grow by 4.93% between 2025 and 2029, GoldenRace has certified games such as Penalt2Win, Basketball 3×3, Horse and Greyhound racing, MMA (Single & Tournament) and several thrilling motor racing titles, such as Grand Prix Indianapolis 60, Motorbike and Speedway racing.
Eastern Europe’s enduring love for number-based games creates another profitable avenue for operators. Certified games such as Keno & Keno Deluxe, Spin2Win (Royale & American) and Perfect6 are designed to meet the unique preferences of players in these regions.
Insights show that players in Poland and neighboring regions prioritise financial rewards, with 56% listing it as their top motivator for gambling. For those players seeking big payouts potential, Crash Games are leading the charge. After a stellar debut in GoldenRace’s Crashmas campaign, games like Jet Escape, Boom Ball Juggle, Fire Crash, Bank Run and Meteoroid are now part of the certified portfolio.
The post GoldenRace fuels growth in Europe with renewed MGA certification appeared first on European Gaming Industry News.
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