Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2021 |
| Fastest Growing Market: | North America |
| Largest Market: | Europe |
| CAGR: | 11.49 % |
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Market Overview
The online gambling market is expected to register a CAGR of 11.49% 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. Moreover, in response to the closure of many gambling establishments, several operators went digital. Many players expanded their online gambling offerings, and bingo operators moved their offerings online, which positively impacted the market.
Over the medium term, online betting is expected to be the fastest-growing segment. 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. Furthermore, operators are creating a variety of interesting tournaments and promotions, which might be interesting to beginners. Bonus programs are growing every day, along with more betting opportunities.
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, the increasing presence of online casino scams, and stringent regulations in certain countries of the world 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 report on the global online gambling market (henceforth referred to as the market studied) offers an in-depth analysis on the growth prospects of the market, along with an emphasis on the current and upcoming trends and opportunities in the market studied.
The online gambling 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. In terms of sports betting, the market studied has been further segmented into football, horse racing, e-sports, and other sports bettings. By casino, the market studied has been further bifurcated into live casino, slots, baccarat, blackjack, and other casino games. Based on the end user, the market studied has been segmented into desktop and mobile. In terms of geography, the market covers major countries in North America, Europe, Asia-Pacific, and Rest of the World. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
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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 global casino gambling market is a highly fragmented market and comprises of regional and global players. The market is dominated by key players, like Bet365, Entain PLC, The Flutter Entertainment PLC, and Kindred Group PLC. Major players are focusing on mergers and acquisitions, partnerships, and product innovation to expand their presence in the global market and to enhance their brand portfolio to cater to various preferences of the consumers. Merger and acquisition is the most preferred strategy followed by expansion, in the online gambling market, globally. Key players compete on various factors, including offerings, quality of gambling content, user experience, brand equity, personalized payoffs, and access to various platforms.
Major Players
Recent Developments
In September 2021, LeoVegas Group launched a new layer of AI-powered messaging to scale up the Group’s Safer Gambling offering. Customers in the United Kingdom will be the first to receive the onsite messages with individualized content based on their behavior and risk profile that educate and provide information on safer gambling.
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, iGaming product experience and existing combined database of more than 5 million customers.
In July 2021, FanDuel Group, part of Flutter Entertainment PLC, launched its FanDuel Casino offerings in New Jersey and Michigan. FanDuel Casino has added live dealer blackjack, roulette, and baccarat games for customers.
In March 2021, Playtech extended its partnership deal with Flutter Entertainment for five further years. Under the new agreement, Playtech will extend its technology to support Flutter brands such as Paddy Power, Betfair, and Sky Casino.
In March 2021, Entain PLC’s brand BetMGM announced a multi-year deal with Audacy, formerly Entercom Communications Corp., designating the market-leading sports betting and gaming platform as a preferred sports betting partner of Audacy across its best-in-class sports broadcast stations, the Audacy and Bet QL apps and digital platforms, and the “BetQL Audio Network.
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 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 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 Sport Pesa
6.4.4 Kindred Group plc
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 1X Corp NV
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
9. DISCLAIMER
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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 11.49% over the next 5 years.
Which region has highest growth rate in Online Gambling Market?
North America is growing at the highest CAGR over 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?
Flutter Entertainment PLC, Entain PLC, BETSSON AB, Bet365, Kindred Group plc are the major companies operating in Online Gambling Market.
