Online Gambling Market 2021 Change in Investors Trends, Preferences, and Budget Impact due to COVID-19
The online gambling industry is anticipated to grow at a faster pace due to favorable government regulatory environment.
Dallas, United States – April 26, 2021 /MarketersMedia/ —
The global online gambling market size is estimated to reach up to USD 80.65 billion by 2025 mainly driven by rising internet penetration and growing adoption for smartphones and tablets amongst generation X and millennials. Moreover, online gaming platforms offers various forms of online gambling games such as online poker, sports betting, online bingo, online lottery and casino game. These games has brought huge switch from traditional to online gambling platform.
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The report also throws light on various aspects of the online gambling industry by assessing the market using value chain analysis. The report covers several qualitative aspects of the online gambling industry in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.
The current consumer landscape suggests that consumers are preferring online gambling over offline mode of gambling. Hence, online gaming products are expected to offer new revenue opportunities for online gaming service providers.
In product type segment, the market for casino sub-segment is estimated to grow at the CAGR 10.2% during the forecast period. This growth is primarily driven by the increase in streaming over the internet and stability of the servers, which enable the companies to offer real time experience and comfort to the players. There has been significant demand for online casino by millennials, which is expected to further drive the market.
In 2018, mobile the sub segment of the device segment dominated the global online gambling market. The segment accounted USD 26.99 billion and is expected to grow at a CAGR of 12.0% over the forecast period. The enhanced convenience offered by mobile phones which allows the gamblers access to their favorite gambling websites and app from anywhere anytime is expected to boost the market. In 2018, the mobile devices occupied a share of 64.40%. Advances in mobile phone technology and explosion of mobile gambling into the online gaming industry has made the entire gambling process easy and user friendly for those who choose smartphones over desktop or tablets.
Geographically, Asia Pacific is leading the global online gambling market driven by increasing population across the demographics, and newly developing markets such as India, Singapore, Thailand and Indonesia due to internet penetration. Europe and North America held the first and second largest market value shares respectively. Other developing markets in countries such as Brazil and Argentina are going to drive the market for South America which is the second fastest growing markets globally.
Williamhill, Bet365, PP+B, Betsson, Ladbrokes, Amaya, GVC Holdings, 888 holdings, Skybetting & gamimg and Unibet(Kindred Group) are the leading players present within the global online gambling market.
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Key segments of the global online gambling market
Type Overview, 2015-2025 (USD million)
Sports Betting
Casinos
Poker
Bingo
Others
Device Overview, 2015-2025 (USD million)
Mobile
Desktop
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