Online Gambling Industry Overview
| Study Period: | 2018 - 2028 |
| Fastest Growing Market: | North America |
| Largest Market: | Europe |
| CAGR: | 11.49 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Online Gambling Market Analysis
The Online Gambling Market is projected to record a CAGR of 11.49% over the next five years.
There has been a rise in the popularity of draw-based and scratch-off instant games, especially across European countries, which may positively impact the growth of the market studied. The increased penetration of smartphones is leading to an increase in several mobile application-based lottery games. The end-user has the convenience and comfort of gambling within the comfort of their own space, which is one of the major drivers of the segment. Casino gambling has been one of the rapidly growing gambling categories, owing to the convenience of usage and optimal user experience.
With the advent of technology, virtual reality, blockchain, and mobile platforms have been widely implemented in the gambling industry worldwide. Owing to this factor, the vendors are utilizing software suppliers, such as NetEntand Evolution Gaming, to integrate and develop the gaming experience of consumers. Furthermore, various companies are concentrating on advancing innovative platforms to cater to several requirements and needs of customers to achieve a competitive edge in the market. For instance, in 2021, Entain PLC declared the launch of Gambling Responsibly America in the United States, a dedicated gaming app. This app has a tool to assist and support consumers. It also has educational resources to help consumers if they face any gambling issues. The above-mentioned factors are expected to benefit the market positively.
Online Gambling Industry Segments
As per the scope of the report online gambling is typically betting on casino or sports-type games over the internet. The online gambling market has been segmented by game type, end user, and geography. On the basis of game type sports betting (football, horse racing, e-sports, and other sports), casino (live casino, baccarat, blackjack, poker, slots, and others casino games), lottery, and bingo. By end user the market is segmented into desktop and mobile. By geography, the market provides an analysis of North America (United States, Canada, Mexico, and Rest of North America), Europe (Germany, United Kingdom, France, Russia, Spain, Italy, and Rest of Europe), Asia-Pacific (India, China, Australia, Japan, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America), the Middle East and Africa (South Africa, Saudi Arabia, and Rest of Middle East and Africa). For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
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Online Gambling Market Trends
This section covers the major market trends shaping the Online Gambling Market according to our research experts:
Various Sponsorships and Convenient Payment Options Driving the Market
The rising adoption of mobile and online payment gateways made payment options convenient for consumers and online players. Online payment provides a safe and secure mode of transaction, which is accepted by the online gaming industry. This factor is boosting the growth of the online gambling market. The online betting segment is predominantly rising with the online sports category, especially in football events, such as the FIFA World Cup and the European championships. Many online sports betting companies are sponsoring different teams as a part of their marketing initiatives by acquiring or merging with several companies for strategic expansions. In August 2021, DraftKings Inc. and Golden Nugget Online Gaming Inc. entered a definitive agreement for DraftKings and acquired Golden Nugget Online Gaming in an all-stock transaction. The acquisition enabled DraftKings to leverage Golden Nugget’s well-known brand’s (iGaming) product experience and the existing database of more than 5 million customers.
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North America Remains the Fastest-growing Region
The current legislative framework for online betting in the United States allows only bookmakers licensed in Nevada, Pennsylvania, and New Jersey to operate legally, as these are the three states where online betting is regulated. Pennsylvania is the fourth and biggest state to legalize and regulate online gambling. There are various types of online casinos, sportsbooks, and online sports betting apps live in New Jersey. New Jersey's Division of Gaming Enforcement oversees and regulates New Jersey's online gaming sites. It handles site licensing, tax revenue collection, and game testing and approval. New Jersey is currently the largest market for regulated online gambling in the United States. Canada is largely an unregulated country in terms of online gaming. At the same time, Mexico is reviewing its gambling laws intending to regulate the online gambling sector to align with the rest of the nation's gambling industry. Therefore, the increasing regularization of online gambling in the North American countries and their respective states is expected to drive the market further.
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Online Gambling Market Competitor Analysis
The casino gambling market is highly fragmented and comprises regional and global players. Key players like Bet365, Entain PLC, Flutter Entertainment PLC, and Kindred Group PLC dominate the market. Major players are focusing on mergers and acquisitions, partnerships, and product innovations to expand their presence in the market and enhance their brand portfolio to cater to consumer preferences. Merger and acquisition is the most preferred strategy in the online gambling market, followed by expansion. Key players compete on various factors, including offerings, quality of gambling content, user experience, brand equity, personalized payoffs, and access to various platforms. Advanced distribution networks and manufacturing expertise give an upper edge to the manufacturers to expand their range of products worldwide.
Online Gambling Market Top Players
Flutter Entertainment PLC
Entain PLC
BETSSON AB
Bet365
Kindred Group PLC
*Disclaimer: Major Players sorted in no particular order
Online Gambling Market Recent Developments
- In August 2022, Gambling.com Group Limited, a top supplier of player acquisition services for the regulated global online gambling sector, announced its plans to offer marketing services to licensed online sports betting operators in Kansas.
- In February 2022, Aristocrat announced its plans to start an online gaming division. The company revealed that it would establish a third operating business to oversee the online RMG space.
- In October 2021, Connecticut completely launched its online casino and sports betting one day after New Jersey declared it was the first state to take in more than USD 1 billion in wagers on sports in a single month. Thousands of wagers were placed in the first few hours.
Online Gambling Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Game Type
5.1.1 Sports Betting
5.1.1.1 Football
5.1.1.2 Horse Racing
5.1.1.3 E-sports
5.1.1.4 Other Sports
5.1.2 Casino
5.1.2.1 Live Casino
5.1.2.2 Baccarat
5.1.2.3 Blackjack
5.1.2.4 Poker
5.1.2.5 Slots
5.1.2.6 Others Casino Games
5.1.3 Lottery
5.1.4 Bingo
5.2 End User
5.2.1 Desktop
5.2.2 Mobile
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Spain
5.3.2.6 Italy
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Australia
5.3.3.4 Japan
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Strategies Adopted by Players
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Betsson AB
6.3.2 888 Holdings PLC
6.3.3 Sport Pesa
6.3.4 Kindred Group PLC
6.3.5 Entain PLC
6.3.6 William Hill PLC
6.3.7 Bet365
6.3.8 LeoVegas AB
6.3.9 Flutter Entertainment PLC
6.3.10 1X Corp. NV
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER
Online Gambling Market Research FAQs
What is the study period of this market?
The Online Gambling Market is studied from 2018 - 2028.
What is the growth rate of Online Gambling Market?
The Online Gambling Market is growing at a CAGR of 11.49% over the next 5 years.
Which region has highest growth rate in Online Gambling Market?
North America is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Online Gambling Market?
Europe holds highest share in 2021.
Who are the key players in Online Gambling Market?
Flutter Entertainment PLC, Entain PLC, BETSSON AB, Bet365, Kindred Group PLC are the major companies operating in Online Gambling Market.
Online Gambling Industry Reports
In-depth industry statistics and market share insights of the Online Gambling sector for 2020, 2021, and 2022. The Online Gambling research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Online Gambling report PDF.
