Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2020 |
| Fastest Growing Market: | North America |
| Largest Market: | Europe |
| CAGR: | 11.94 % |
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Market Overview
The online gambling market is expected to register a CAGR of 11.94% during the forecast period, 2021-2026.
The COVID-19 pandemic positively impacted the market, as consumers turned more toward the online platform to bridge their financial, social, and psychological crisis during lockdowns. One of the research conducted by the Lund University, Sweden, found that due to restrictions in sports events due to lockdowns, consumers have surged their interest in online gambling platforms.
Online betting is expected to be the fastest-growing segment during the forecast period. Artificial intelligence, Chabot, and machine learning have taken over the market. The rise in the number of the female population in casinos and the convenience of the cashless mode of payment during gaming are likely to boost the online gambling market during the forecast period.
Online gambling companies are likely to expand their sport betting options after sports betting was legalized in the United States by the Supreme Court in 2018, which is further supporting the market’s growth. However, stringent regulations related to online gambling are expected to hinder the market growth rate.
Scope of the Report
Online gambling is typically betting on casino or sports-type games over the internet. The temperament of gambling may vary from sports bets to casino-style games. Some examples are roulette, poker, slots, lotteries, bingo, and keno. The market has been segmented by game type, end user, and geography. By game type, the market studied has been segmented into sports betting, casino, lottery, and bingo. By sports betting, the market studied has been segmented into football, horse racing, e-sports, and other sports bettings. By casino, the market studied has been segmented into the live casino, slots, baccarat, blackjack, poker, and other casino games. By end user, the market studied has been segmented into desktop and mobile. By geography, the market covers major countries in North America, Europe, Asia-Pacific, and the Rest of the World. For each segment, the market sizing and forecasts have been done on the basis of value (in USD billion).
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Key Market Trends
Football Betting Holds a Prominent Share
The online betting segment is predominantly applied in the sports category, especially in football events, such as FIFA World Cup and European Championships. Many of the online sports betting companies are sponsoring different teams as a part of their marketing initiatives and strategic expansions. For instance, the Bwin brand, a pioneering online sports brand across Continental Europe, attained global recognition through high-profile sponsorships with football clubs, such as Real Madrid and AC Milan. Additionally, companies are focusing on developing innovative platforms to cater to various customer requirements and achieve a competitive advantage in a highly competitive market.
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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. The new law allows for online casinos, online poker, sports betting, and more. New Jersey is currently the largest market for regulated online gambling in the United States. There are a number of sportsbooks, and online sports betting apps live in the state. Canada is largely an unregulated country in terms of online gaming. At the same time, Mexico is reviewing its gambling laws with the aim to regulate the online gambling sector to bring it in line 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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Competitive Landscape
The market for online gambling is a highly competitive market, and companies operating in this market do not have a dominant position, as most of the European companies operate in the domestic market and establish monopolies in the respective countries. The market is dominated by key players, like bet365, Entain (PLC), The Stars Group Inc., Flutter Entertainment PLC, and Kindred Group PLC. Many online gambling companies rely on third-party providers, such as Playtech, for software solutions. However, some companies choose to backward integrate with the technology providers.
Major Players
Recent Developments
In January 2019, GVC Holdings PLC (Entain PLC) launched two of its most popular brands, bwin and Partypoker, in the Swedish market. Both brands offer dedicated websites under these extensions. An Android mobile app is also available, with an iOS version expected to follow over the coming days.
In October 2019, Ted Leonsis, a United States sports entrepreneur, signed a deal with the UK bookmaker William Hill to provide sports betting in Washington DC stadium, as European gambling companies expand in the United States. It will be the first “sportsbook,” the US equivalent of a betting shop built in a professional stadium in the United States.
In January 2019, LeoVegas AB launched Swish, a payment service for the Swedish market. With the launch of Swish, the transaction costs in the Swedish market are expected to decrease significantly.
Table of Contents
1. INTRODUCTION
1.1 Study Deliverables and Study Assumptions
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 By 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 By End User
5.2.1 Desktop
5.2.2 Mobile
5.3 By 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 Russia
5.3.2.4 France
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 Oceanic Countries
5.3.3.2 Rest of Asia-Pacific
5.3.4 Rest of the World
5.3.4.1 South America
5.3.4.2 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Strategies Adopted by Players
6.3 Most Active Companies
6.4 Company Profiles
6.4.1 Betsson AB
6.4.2 888 Holdings PLC
6.4.3 The Stars Group Inc.
6.4.4 The Kindered Group
6.4.5 Entain PLC
6.4.6 William Hill PLC
6.4.7 Bet365
6.4.8 LeoVegas AB
6.4.9 Flutter Entertainment PLC
6.4.10 Vera&John
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Online Gambling Market market is studied from 2016 - 2026.
What is the growth rate of Online Gambling Market?
The Online Gambling Market is growing at a CAGR of 11.94% over the next 5 years.
Which region has highest growth rate in Online Gambling Market?
North America is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Online Gambling Market?
Europe holds highest share in 2020.
Who are the key players in Online Gambling Market?
Cherry AB, 888 Holdings Plc, BETSSON B, William Hill Plc, Entain plc are the major companies operating in Online Gambling Market.
