The online gambling market refers to the industry that provides gambling services through the internet. Online gambling operators offer a wide range of games, including casino games, sports betting, poker, bingo, and other games of chance. The online gambling market includes both licensed and unlicensed operators, with the former being regulated and licensed by government authorities in various jurisdictions. The online gambling market has grown rapidly in recent years due to the increasing availability of high-speed internet and the growing adoption of smartphones and tablets. The market is also driven by factors such as the convenience of playing from anywhere at any time, the globalization of the industry, and advancements in technology. Online gambling platforms can be accessed from anywhere in the world, making it easier for players to access a wide variety of games and betting options from different regions. The legalization and regulation of online gambling in several countries have created a more favourable environment for online gambling operators, increasing their ability to reach new customers and expand their businesses. Advancements in technology, such as virtual reality, artificial intelligence, and machine learning, have enhanced the user experience and made online gambling more immersive and interactive. Online gambling operators invest heavily in marketing and advertising to reach new customers and increase brand awareness, which has contributed to the growth of the industry. As the global economy continues to improve, more people have disposable income to spend on leisure activities such as online gambling.
According to the research report, “Global Online Gambling Market Overview, 2023-28," published by Bonafide Research, the market is expected to reach a size of over USD 179 Billion, up from USD 94.17 billion in 2022. From 2023 to 2028, the market is expected to grow at an 11.64% CAGR. The growing internet penetration is also likely to drive the use of online gambling platforms across the globe. This contributes to increased investments in online gambling platforms and the number of live casinos worldwide. Furthermore, the growing popularity of the freemium model is expected to fuel market growth over the forecast period. The changing legislative framework for virtual betting and the legalization of the market across emerging nations is anticipated to drive industry growth. For instance, online gambling has recently been made legal in Goa and Sikkim. The increasing credibility globally is further expected to drive market growth. The growing focus of key players such as Kindred, Entain, Bet365, and others towards innovation, partnerships, mergers, and promotion to expand their presence globally is anticipated to drive the industry growth. For instance, in August 2021, DraftKings Inc. acquired Golden Nugget online gaming, enabling DraftKings to leverage the brand's product experience and colossal customer database of over 5 million. Further, in July 2021, FanDuel launched its casino offering in Michigan and New Jersey, adding live dealer blackjack and roulette, among other games for the customers. Recent developments such as these are anticipated to provide lucrative growth opportunities globally.
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A Bonafide Research industry report provides in-depth market analysis, trends, competitive insights, and strategic recommendations to help businesses make informed decisions.
The increasing investments in the online gambling market can be primarily credited to the rising demand for cost-effective payment mechanisms. Another crucial factor favouring investments in online gambling is the introduction of virtual and augmented reality. There are enormous investment opportunities in the market which has influenced professional players to invest in sports betting and stocks of some of the critical online gambling companies. Various new entrants and investors are reaching out to stakeholders in the online gambling market, including operators, suppliers, regulators, and industry-focused legal/ financial advisors. A growing consumer preference for online live casinos over conventional land-based casinos across various countries that have legalized offline and online gambling is strongly favouring market growth. The shifting of players from offline to online gambling has created lucrative growth prospects for online casino operators. Numerous professional players prefer live casinos as they help them track their moves. Besides, they also offer games in real-time with live dealers, a live chat feature, and games that can be played anytime and anywhere. The emergence of live casinos based on advanced technologies is expected to fuel market growth over the forecast period. In 2021, Evolution launched its third live casino studio in Michigan as a part of its business expansion strategy amid the fast development of the US iGaming industry.
The integration of Virtual Reality (VR) and Augmented Reality (AR) technology in online gambling platforms can enhance the user experience by creating a more immersive and interactive environment. Players can enjoy a realistic casino experience from the comfort of their homes. Artificial Intelligence (AI) and Machine Learning (ML) technology can be used to analyse player behaviour and create personalized recommendations, which can enhance the overall user experience. These technologies can also be used to identify and prevent problem gambling behaviours. In addition to that, the integration of crypto currencies such as Bitcoin, Ethereum, and Litecoin can make online gambling transactions faster, more secure, and more anonymous. This can also open up new markets for online gambling, particularly in countries where traditional payment methods are restricted. Further, the increasing popularity of smartphones and tablets has led to a significant increase in mobile gambling. Online gambling operators are likely to continue to invest in mobile platforms to cater to this growing market. On the other hand, esports has gained significant popularity in recent years, and online gambling operators are starting to offer esports betting options. This trend is likely to continue as more people become interested in esports and traditional sports betting becomes more competitive.
In 2022, the sports betting segment held the largest share of the global market. The rising popularity of digital platforms around the world is expected to drive the segment's growth. The increasing spending capacity of the population in emerging economies as per capita income rises is expected to contribute to segment growth. However, the Poker segment is growing at a faster rate than the rest of the market. This can be attributed to a variety of factors, including the enormous popularity of virtual card games and others. One of the primary factors driving the segment's growth is the convenience provided by digital platforms. The majority of websites and platforms accept payments via wallets, credit/debit cards, and cryptocurrencies. Additionally, the availability of a wide range of games for online poker is projected to boost the segment's industry growth.
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Covid-19 Impacts:
The COVID-19 pandemic has had a significant impact on the online gambling market. The economic impact of the pandemic has led to job losses and a decrease in disposable income for some individuals, which may lead to a decrease in spending on online gambling. Furthermore, some regulatory bodies have increased their scrutiny of online gambling operators during the pandemic, with a particular focus on problem gambling and player protection measures. This increased regulation may result in higher compliance costs for online gambling operators and could potentially affect profitability. As many physical casinos and betting shops were forced to close due to lockdowns and social distancing measures, more people turned to online gambling as a form of entertainment. This led to a surge in demand for online gambling services and a significant increase in online gambling revenue. In addition to an increase in demand, the COVID-19 pandemic has also led to changes in player behaviour. With more people working from home and spending more time indoors, there has been a shift towards more casual gambling, such as playing online slot games.
Companies Covered in the report:
Bally's Corporation, Betsson AB, Entain Plc, Firekeepers Casino, Churchill Downs Incorporated, Kindred Group plc, The Stars Group, Sportech PLC, 888 Holdings Plc, Sportpesa
Considered in this report
• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028
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Aspects covered in this report
• Global Online Gambling market with its value and forecast along with its segments
• Regional-wise Online Gambling market analysis
• On-going trends and developments
• Top profiled companies
• Strategic recommendation
Regions Covered in the report:
• North America
• Europe
• Asia-Pacific
• South America
• Middle-East & Africa
By Gaming Type:
• Sports Betting
• Casinos
• Poker
• Bingo
• Lottery
• Others
By Device Type:
• Mobile Devices (phones and tablets)
• Desktop
The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.
Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Online Gambling industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
Companies Mentioned
Bally's Corporation
Betsson AB
Entain Plc
Firekeepers Casino
Churchill Downs Incorporated
Kindred Group plc
The Stars Group
Sportech PLC
888 Holdings Plc
Sportpesa
Table of Contents
Table of Content
1. Executive Summary
2. Market Dynamics
2.1. Market Drivers
2.2. Challenges
2.3. Opportunity
2.4. Restraints
2.5. Market Trends
2.6. Covid-19 Effect
2.7. Supply chain Analysis
2.8. Policy & Regulatory Framework
2.9. Industry Experts Views
3. Research Methodology
3.1. Secondary Research
3.2. Primary Data Collection
3.3. Market Formation & Validation
3.4. Report Writing, Quality Check & Delivery
4. Market Structure
4.1. Market Considerate
4.2. Assumptions
4.3. Limitations
4.4. Abbreviations
4.5. Sources
4.6. Definitions
5. Economic /Demographic Snapshot
6. Competitive Landscape
6.1. Competitive Dashboard
6.2. Business Strategies Adopted by Key Players
6.3. Key Players Market Share Insights and Analysis, 2022
6.4. Key Players Market Positioning Matrix
6.5. Consolidated SWOT Analysis of Key Players
6.6. Porter's Five Forces
7. Global Online Gambling Market Outlook
7.1. Market Size By Value
7.2. Market Size and Forecast, By Geography
7.3. Market Size and Forecast, By Game Type
7.4. Market Size and Forecast, By Device Type
8. North America Online Gambling Market Outlook
8.1. Market Size By Value
8.2. Market Share By Country
8.3. Market Size and Forecast By Game Type
8.4. Market Size and Forecast By Device Type
9. Europe Online Gambling Market Outlook
9.1. Market Size By Value
9.2. Market Share By Country
9.3. Market Size and Forecast By Game Type
9.4. Market Size and Forecast By Device Type
10. Asia-Pacific Online Gambling Market Outlook
10.1. Market Size By Value
10.2. Market Share By Country
10.3. Market Size and Forecast By Game Type
10.4. Market Size and Forecast By Device Type
11. South America Online Gambling Market Outlook
11.1. Market Size By Value
11.2. Market Share By Country
11.3. Market Size and Forecast By Game Type
11.4. Market Size and Forecast By Device Type
12. Middle East & Africa Online Gambling Market Outlook
12.1. Market Size By Value
12.2. Market Share By Country
12.3. Market Size and Forecast By Game Type
12.4. Market Size and Forecast By Device Type
13. Company Profile
13.1. Bally's Corporation
13.1.1. Company Snapshot
13.1.2. Company Overview
13.1.3. Financial Highlights
13.1.4. Geographic Insights
13.1.5. Business Segment & Performance
13.1.6. Product Portfolio
13.1.7. Key Executives
13.1.8. Strategic Moves & Developments
13.2. Betsson AB
13.3. Entain Plc
13.4. Firekeepers Casino
13.5. Churchill Downs Incorporated
13.6. Kindred Group plc
13.7. The Stars Group
13.8. Sportech PLC
13.9. 888 Holdings Plc
13.10. Sportpesa
14. Strategic Recommendations
15. Annexure
15.1. FAQ`s
15.2. Notes
15.3. Related Reports
16. Disclaimer
List of Tables
Table 1: Global Online Gambling Market Snapshot, By Segmentation (2022 & 2028) (in USD Billion)
Table 2: Influencing Factors for Global Online Gambling Market, 2022
Table 3: Top 10 Counties Economic Snapshot 2020
Table 4: Economic Snapshot of Other Prominent Countries 2020
Table 5: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 6: Global Online Gambling Market Size and Forecast, By Geography (2017 to 2028F) (In USD Billion)
Table 7: Global Online Gambling Market Size and Forecast, By Game Type (2017 to 2028F) (In USD Billion)
Table 8: Global Online Gambling Market Size and Forecast, By Device Type (2017 to 2028F) (In USD Billion)
Table 9: North America Online Gambling Market Size and Forecast By Game Type (2017 to 2028F) (In USD Billion)
Table 10: North America Online Gambling Market Size and Forecast By Device Type (2017 to 2028F) (In USD Billion)
Table 11: Europe Online Gambling Market Size and Forecast By Game Type (2017 to 2028F) (In USD Billion)
Table 12: Europe Online Gambling Market Size and Forecast By Device Type (2017 to 2028F) (In USD Billion)
Table 13: Asia-Pacific Online Gambling Market Size and Forecast By Game Type (2017 to 2028F) (In USD Billion)
Table 14: Asia-Pacific Online Gambling Market Size and Forecast By Device Type (2017 to 2028F) (In USD Billion)
Table 15: South America Online Gambling Market Size and Forecast By Game Type (2017 to 2028F) (In USD Billion)
Table 16: South America Online Gambling Market Size and Forecast By Device Type (2017 to 2028F) (In USD Billion)
Table 17: Middle East & Africa Online Gambling Market Size and Forecast By Game Type (2017 to 2028F) (In USD Billion)
Table 18: Middle East & Africa Online Gambling Market Size and Forecast By Device Type (2017 to 2028F) (In USD Billion)
List of Figures
Figure 1: Global Online Gambling Market Size (USD Billion) By Region, 2022 & 2028
Figure 2: Market attractiveness Index, By Region 2028
Figure 3: Market attractiveness Index, By Segment 2028
Figure 4: Competitive Dashboard of top 5 players, 2022
Figure 5: Market Share insights of key players, 2022
Figure 6: Porter's Five Forces of Global Online Gambling Market
Figure 7: Global Online Gambling Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 8: Global Online Gambling Market Share By Region (2022)
Figure 9: North America Online Gambling Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 10: North America Online Gambling Market Share By Country (2022)
Figure 11: Europe Online Gambling Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 12: Europe Online Gambling Market Share By Country (2022)
Figure 13: Asia-Pacific Online Gambling Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 14: Asia-Pacific Online Gambling Market Share By Country (2022)
Figure 15: South America Online Gambling Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 16: South America Online Gambling Market Share By Country (2022)
Figure 17: Middle East & Africa Online Gambling Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 18: Middle East & Africa Online Gambling Market Share By Country (2022)
Market Research FAQs
The global online gambling market refers to the market for online gambling activities, which includes online betting, casino games, poker, bingo, and lottery games. This market includes all forms of online gambling, from desktop and mobile devices, across various regions around the world.
The key drivers of the global online gambling market growth include the increasing adoption of smartphones and mobile devices, rising internet penetration, increasing demand for online betting and gambling activities, and the growing number of online gambling companies.
The types of online gambling include online sports betting, online casino games, online poker, online lottery games, and online bingo. Online sports betting is the largest segment of the online gambling market.
The major regions for online gambling include Europe, Asia-Pacific, North America, Latin America, and the Middle East & Africa. Europe is the largest market for online gambling, followed by North America and Asia-Pacific.
The major companies in the global online gambling market include Bet365 Group Ltd., Betsson AB, 888 Holdings PLC, GVC Holdings PLC, William Hill PLC, Kindred Group PLC, Paddy Power Betfair PLC, and The Stars Group Inc.
The challenges faced by the global online gambling market include regulatory restrictions in some countries, concerns about online security and safety, and the risk of gambling addiction. Additionally, the industry is becoming increasingly competitive, with many new players entering the market.
The global online gambling market is expected to continue to grow over the coming years, driven by increasing demand for online betting and gambling activities, rising internet penetration, and the growing number of online gambling companies. However, regulatory restrictions and concerns about online safety and security may also impact the market's growth in some regions.
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