Global online gambling and the betting market was valued US$ 47.2 Bn in 2017 and is expected to reach US$ 107.2 Bn by 2026, at a CAGR of 9.54% during a forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global online gambling and betting market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTERâ€™s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global online gambling and betting market.
Gambling can be defined as risking money or anything of material value for uncertain results. The initial intent is to win additional money or material goods. Online gambling, more usually known as Internet gambling, is typically betting on casino or sports type games over the Internet.
Constant development in the internet infrastructure along with the strong penetration of mobile devices, rising urbanization & disposable incomes, increasing usage of the internet is driving the growth of the global online gambling and betting market. Virtual reality headphones are created a better environment for online gambling and betting. Crypto-currency and increased adoption and popularity of Internet-based devices are growing the market of online gambling and betting. Easy convenience of these games and the lure of easy money are the key factors powering global online gambling and betting market growth.
However, incorporation of live streaming with online gambling and development of online gambling & betting sites with innovative technology as per requirement of end-users are expected to generate new opportunities in the market.
Sports betting is estimated to hold the largest share of the market during the forecast period. Rising the popularity of sports and followers of sports among the globe will boost the market. Increased craze regarding sport in youth is growing the market of sports betting. Mobile is estimated to hold the largest share of the market during the forecast period. Rising usage of the smartphones and penetration of internet is a growing share of the market. Rising trust being online operators, as well as an increase in mobile gaming.
Software segment is projected to hold the largest share of the online gambling & betting market during the forecast period owing to the availability of various online payment options. Additional, the online gambling & betting market is divided on the basis of gaming type into poker, casino, sports betting, bingo, lottery, horse race betting, and others. Poker segment is expected to hold a notable share during the forecast period.
Legalization for online gambling and betting in Europe region is estimated to hold the largest share of the market in this region. The UK is the first country which one is legalized for online gaming and betting and also various countries are legalizing for online gaming and betting such as Italy and Spain. However, Asia Pacific is estimated to generate the highest CAGR in the forecast period as increasing penetration of internet and relaxation of regulations regarding online gaming and betting in this region. Also, North America is estimated to grow at a substantial rate in the global online gambling & betting market meanwhile it is the most technically developed region. The U.S. is expected to be a key contributor in the region.
Scope of the Global Online Gambling and Betting Market
Global Online Gambling and Betting Market by Gaming Type
Global Online Gambling and Betting Market by Device Type
Global Online Gambling and Betting Market by Component
Global Online Gambling and Betting Market by Geography
Middle East & Africa
Key Players in Global Online Gambling and Betting Market