Dublin, Nov. 19, 2024 (GLOBE NEWSWIRE) — The “Online Gambling & Betting – Global Strategic Business Report” has been added to ResearchAndMarkets.com’s offering.
The global market for Online Gambling & Betting was estimated at US$81.9 Billion in 2023 and is projected to reach US$156.7 Billion by 2030, growing at a CAGR of 9.7% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
What Are the Emerging Applications of Online Gambling & Betting Across Different Market Segments?
Online gambling and betting are finding expanding applications across various market segments, driven by demand for more interactive and convenient gaming options. In the online casino segment, traditional games like blackjack, roulette, and slot machines have evolved with live dealer features, VR integration, and themed gaming experiences. Players can now enjoy live casino games, where real dealers host games in real-time via video streams, offering a more authentic experience. VR casinos allow users to walk through virtual gaming halls, choose tables, and interact with other players, providing a social component to online gambling that was previously limited to land-based casinos.
In the sports betting segment, the rise of in-play or live betting has revolutionized the way users place bets on events. Live betting allows users to place wagers during a game or event, adjusting their bets as the action unfolds. This has been made possible through advanced data analytics and real-time updates, which provide bettors with up-to-the-minute information on odds, player performance, and game developments. Esports betting, another rapidly growing segment, caters to the younger, tech-savvy audience by allowing them to wager on competitive video gaming tournaments. The inclusion of popular games like League of Legends, Counter-Strike, and Dota 2 in betting markets has expanded the reach of online betting platforms and diversified their user base.
In the lottery and bingo segment, online platforms have introduced innovative features such as syndicate betting, instant win games, and themed bingo rooms. These digital formats make traditional games more appealing to a broader audience by adding social features, chat functions, and faster gameplay. Additionally, the rise of fantasy sports betting has added a new dimension to online gambling, allowing users to create virtual teams and compete based on real-world player performance. Fantasy sports have become popular across regions like North America, Europe, and Asia, offering year-round betting opportunities that go beyond conventional sports seasons.
The expanding applications of online gambling and betting across these market segments highlight its critical role in modern entertainment. By integrating diverse gaming options, real-time interaction, and social features, online platforms provide users with comprehensive, engaging, and flexible gambling experiences, driving user growth and market penetration globally.
What Drives Growth in the Online Gambling & Betting Market?
The growth in the online gambling and betting market is driven by several factors, including increasing internet penetration, widespread smartphone adoption, and evolving regulatory frameworks. One of the primary growth drivers is the global rise in digital connectivity, which has made online gambling more accessible to a larger audience. As high-speed internet becomes more available, even in emerging markets, users are increasingly engaging with online gambling platforms, leading to higher participation rates and revenue growth. The widespread use of smartphones has made mobile gambling one of the fastest-growing segments, allowing users to access gaming platforms anywhere, anytime.
The liberalization of gambling laws and regulatory support in various regions have further fueled demand for online gambling and betting services. Governments in markets such as Europe, North America, and parts of Asia-Pacific are introducing more regulated frameworks that offer better player protection, secure payment systems, and transparent gaming operations. These changes have legitimized online gambling, attracting both domestic and international operators to expand their services. Regulatory measures also ensure that operators adopt responsible gambling practices, enhancing consumer trust and encouraging more users to participate.
Advancements in payment methods, including digital wallets, cryptocurrencies, and secure payment gateways, have contributed to market growth by providing fast, convenient, and secure transactions. Digital payment solutions have made it easier for users to deposit and withdraw funds, enhancing the overall betting experience. Cryptocurrency adoption, in particular, appeals to users seeking anonymity and faster transactions, making it a popular option for tech-savvy gamblers. The integration of advanced fintech solutions with online gambling platforms has improved user convenience, supported global transactions, and expanded the market’s reach.
The growing demand for immersive, real-time gaming experiences has also driven the adoption of online gambling and betting platforms. Live dealer games, esports betting, and fantasy sports offer more interactive and engaging experiences, attracting younger demographics and increasing user engagement. In-play betting, supported by real-time data and AI-driven analytics, has become a popular feature among sports enthusiasts, enhancing the thrill of betting during live events. The rise of social features, such as in-game chat, multiplayer modes, and social media integration, has further enhanced user interaction, fostering a sense of community among players.
With ongoing innovations in gaming technology, regulatory expansion, and growing digital adoption, the online gambling and betting market is poised for continued growth. These trends, combined with increasing demand for convenient, diverse, and immersive gaming options, make online gambling a vital component of the modern entertainment industry, catering to a broad range of users across the globe.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 331 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $81.9 Billion |
| Forecasted Market Value (USD) by 2030 | $156.7 Billion |
| Compound Annual Growth Rate | 9.7% |
| Regions Covered | Global |
Scope of the Study
The report analyzes the Online Gambling & Betting market, presented in terms of market value (US$ Million). The analysis covers the key segments and geographic regions outlined below.
Segments
- Component (Hardware, Software, Service); Game Type (Poker, Casino, Sports Betting, Horse Race Betting, Other Game Types)
Geographic Regions/Countries
- World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Poker segment, which is expected to reach US$68.9 Billion by 2030 with a CAGR of a 11.3%. The Casino segment is also set to grow at 7.3% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $22.8 Billion in 2023, and China, forecasted to grow at an impressive 8.9% CAGR to reach $23.5 Billion by 2030.
Key Questions Answered:
- How is the Global Online Gambling & Betting Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Online Gambling & Betting Market such as 888 Holdings Plc, Betsson AB, Betway Group, Churchill Downs Inc., Entain plc and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 216 companies featured in this Global Online Gambling & Betting Market report include:
- 888 Holdings Plc
- Betsson AB
- Betway Group
- Churchill Downs Inc.
- Entain plc
- Flutter Entertainment plc
- Fortuna Entertainment Group N.V.
- Kindred Group Plc
- Playtech PLC
- The Stars Group
For more information about this report visit https://www.researchandmarkets.com/r/an5u9s
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2024-11-19 17:23:00