Online gambling

Global Online Gambling Market Report 2022: Growing Smartphone Adoption and Industry Fueling Rapid Internet Penetration – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The report “Global Online Gambling Market – Forecast 2022 to 2027” has been added to from ResearchAndMarkets.com offer.

The global online gambling market was valued at US$65.316 billion in 2020 and is expected to grow at a CAGR of 10.11% during the forecast period to reach a total market size of US$128.154 billion Americans in 2027.

The growing popularity of betting in different parts of the world is significantly boosting the global online gambling market. According to the American Gaming Association (AGA), approximately 2,800 sites were active online offering games and activities, such as poker, lottery and bingo, in 2018.

The growing adoption of smartphones, coupled with the rapid penetration of better internet connectivity in various regions/countries, is facilitating access to various online gambling platforms. With companies offering freemium models to their customers, the number of people engaged in various types of online gambling is increasing at a tremendous rate which, in turn, is driving the growth of the global gambling market on line.

Growing number of profitable mobile applications for playing different online gambling games on smartphones is also contributing to the growth of the online gambling market worldwide. The ease of sports betting using a connected portable device such as smartphone, laptop and tablet has increased the number of players in the online gambling industry.

Additionally, the proliferation of sports betting as well as other online gambling advertisements is making people more likely to try online gambling, which is positively impacting the growth of the market over the course of the forecast period. Online agencies, third-party ad servers, and networks and exchanges are used to advertise the gambling websites of various companies. Online gambling service providers are entering into agreements with individual customers or players to offer real-money betting services, attracting more and more players.

The online gambling industry has a wide range of regulatory frameworks in place, which are mainly attributed to the size of the market, the number of participants and the level of illegal gambling. Online gambling legislation ranges from licensed markets fully open to commercial operators to explicitly prohibited and banned markets. Tax rates, online penetration, and other regulatory requirements vary widely by geographic region. As legislation continues to evolve, regulated markets have a significant impact on rising costs and barriers to entry, including consumer protection initiatives and increased gambling taxes. By far, the UK is the largest regulated online gambling market for many online operators. Other important regulated markets include Sweden, Spain, Italy and Australia.

However, many countries prohibit the online gambling industry, which hinders the growth of the global online gambling market. Countries where online gambling is illegal include Singapore, United Arab Emirates (UAE), North Korea, India, and Qatar. In Russia, online gambling is completely prohibited, with the exception of interactive gambling, which includes slot machine simulators, card games and casino games. Moreover, the countries where online gambling is allowed have restricted and strict regulations, which further erodes the growth of this overall online gambling market.

Segmentation

By type of game

  • sports betting

  • Casino

  • Lottery

By platform

By geography

  • North America

  • United States

  • Canada

  • Mexico

  • South America

  • Brazil

  • Argentina

  • Europe

  • UK

  • Germany

  • Spain

  • Italy

  • France

  • Middle East and Africa

  • Nigeria

  • South Africa

  • Kenya

  • Asia Pacific

  • Japan

  • China

  • India

  • Philippines

  • Vietnam

  • Taiwan

Main topics covered:

1. Introduction

2. Research methodology

3. Executive Summary

4. Market dynamics

5. Global Online Gambling Market Analysis, By Game Type

6. Global Online Gambling Market Analysis, By Platform

7. Global Online Gambling Market Analysis, By Geography

8. Competitive environment and analysis

9. Company Profiles

Companies cited

  • William Hill Plc

  • Flutter Entertainment Plc

  • BETSSON AB (ed.)

  • BetAmerica

  • 888 Holdings PLC

  • Light and Wonder, Inc.

  • bet365

  • Kindred Group Plc

  • Entain plc

  • LeoVegas Group

  • Greentube Internet Entertainment Solutions GmbH

For more information about this report visit https://www.researchandmarkets.com/r/rxoq5o