Stratview Research has published a new report titled “ Online Gambling Market ” which is segmented By Type ( Sports Betting, Casinos, Poker, Bingo, Others ), By Device ( Desktop, Mobile, Others), and By Region (North America, Europe, Asia-Pacific, and the Rest of the World).
As per the study, the market is expected to grow from USD 57.36 billion in 2021 to USD 122.50 billion by 2028 at a healthy CAGR of 11.39% during the forecast period of 2022-2028 .
Online gambling, also referred to as online betting or internet gambling consists of a wide range of online games. It refers to any kind of gambling conducted on the Internet. The players can participate in bets related to living sports or other related events to win prizes or money.
It includes virtual poker, sports betting, and casinos. Online betting platforms, mobile applications, and websites are gaining popularity across the globe.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It thoroughly covers the market segments, including products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
Type Trends
The online gambling market has been categorized into sports betting, casinos, poker, bingo, and others. Among these, the sports segment witnessed the largest market share of 50% of the market in 2021 owing to the rising use of digital platforms among consumers.
Further, growing purchasing power in Asia-Pacific led to increasing spending capacity in online betting in sports, resulting in segment growth.
Which Region is expected to remain the largest market?
The Europe market held the highest market share in 2021 and is estimated to register a robust CAGR during the review period. This is majorly attributed to the legalization of gambling in various countries such as Germany, Spain, Germany, Malta, and Italy.
Favorable factors such as the increasing popularity of online casinos, availability of high-speed internet, and rising use of smartphones further boost regional growth. Also, the Gambling Act 2005 imposed by the U.K. Gambling Commission (UKGC) has allowed companies to advertise their gambling sites, which is also accelerating the growth of the market in Europe.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players acting in the Online Gambling Market:
- Sky Betting Gaming (UK)
- Bet365 Group Ltd. (UK)
- William Hill PLC (UK)
- Paddy Power Betfair PLC (Ireland)
- Betsson AB (Sweden)
- Ladbrokes Coral Group PLC (UK)
- The Stars Group Inc. (Canada)
- 888 Holdings PLC (UK)
- Kindred Group PLC (Malta)
- GVC Holdings PLC (UK)
Key questions answered by the report.
- What is the projected CAGR for revenue from the Online Gambling Market during the forecast period?
- What would the market be valued at by 2028?
- What is a major driving factor for the growth of the market?
- Which region accounts for the largest revenue share in the Online Gambling Market?
- Which are the major market players?
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