Online Gambling Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 93.26 Billion |
| Market Size (2029) | USD 153.21 Billion |
| CAGR (2024 - 2029) | 10.44 % |
| Fastest Growing Market | North America |
| Largest Market | Europe |
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*Disclaimer: Major Players sorted in no particular order |
Online Gambling Market Analysis
The Online Gambling Market size is estimated at USD 93.26 billion in 2024, and is expected to reach USD 153.21 billion by 2029, growing at a CAGR of 10.44% during the forecast period (2024-2029).
Increasing internet penetration has a direct impact on the growth of the online gambling industry. According to the International Telecommunication Union (ITU), the number of internet users globally was 5,300 million in 2022. The increased penetration of smartphones further leads to an increase in several mobile application-based lottery games as they provide end-users the convenience and comfort of gambling within their own space. Casino gambling has been one of the rapidly growing gambling categories, owing to the convenience of usage and optimal user experience. To meet different player interests, online gambling companies provide various games, such as slots, poker, and sports betting.
Sports betting is popular in Asia-Pacific. Moreover, online gambling statistics point towards a rise in the popularity of draw-based and scratch-off instant games, especially across European countries, which positively impacts the growth of the online gambling industry. Online gambling gross win in Europe was EUR 29.3 billion in 2022, according to the European Gaming & Betting Association. With the advent of virtual reality and blockchain, various online casino companies are focusing on advancing innovative platforms to cater to the requirements and needs of customers and achieve a competitive edge in the market. For instance, in July 2023, Kindred, an online gambling company, launched a proprietary tech platform in Pennsylvania, United States. The company offers access to Unibet Casino and Sportsbook apps on the Kindred platform.
Online Gambling Market Trends
Various Sponsorships and Convenient Payment Options are Driving the Online Gambling Industry
Online gambling statistics show an increased penetration of mobile phones, the Internet, and convenient online payment gateways leading to online gambling services easily accessible. Moreover, online betting is predominantly rising in the online sports category, especially in football events like the FIFA World Cup and the European championships. Many online gambling companies are focusing on sports betting and are sponsoring different teams as a part of their marketing strategy and acquiring or merging with several companies for strategic expansions. For instance, in September 2022, BC. GAME signed a sponsorship agreement with the Argentine Football Association.
The Argentine team had BC. GAME's support during the FIFA World Cup matches in Qatar. Operators of online casinos also sponsor films, television programs, or streaming content to promote their brands and attract viewers. The casino industry trends show that major athletic events, such as football championships and horse racing contests, are ideal platforms for online gambling businesses to advertise and attract sports bettors. For instance, in December 2022, a leading global online betting and gaming company Betway signed a multi-year title sponsorship with SA20, a Twenty20 franchise cricket tournament in South Africa.
North America is the Fastest-Growing Market
The current legislative framework for online betting in the United States allows only bookmakers licensed in Nevada, Pennsylvania, and New Jersey to operate legally, as these are the three states where online betting is regulated. Pennsylvania is the fourth and biggest state to legalize and regulate online gambling. New Jersey has various types of online casino companies, sportsbooks, and sports betting apps. New Jersey's Division of Gaming Enforcement oversees and holds New Jersey's online gaming sites.
It handles site licensing, tax revenue collection, and game testing and approval. New Jersey is the largest market for regulated online gambling in the United States. Canada is an unregulated country in terms of online gaming. Mexico is reviewing its gambling laws, intending to regulate the online gambling sector to align with the rest of the region's gambling industry. Therefore, the increasing regularization of online gambling in North American countries and their respective states is expected to drive the online betting market further.
As per online gambling statistics, technological advancements, such as augmented reality (AR) and virtual reality (VR), are incorporated into online gaming experiences to increase player engagement. Mobile gambling has increased dramatically due to the widespread use of smartphones and tablets, which enable bets to be placed at any time and almost anywhere. For instance, the number of mobile phone users in Mexico was 93.08 million in 2022, according to the National Institute of Statistics and Geography.
Online Gambling Industry Overview
The online betting market is highly fragmented and comprises regional and global players. Online gambling companies such as Bet365, Entain PLC, 888 Holding PLC, Flutter Entertainment PLC, and Kindred Group PLC dominate the market. Major players are focusing on mergers and acquisitions, partnerships, and product innovations to expand their presence in the market. They also compete on various factors, including offerings, quality of gambling content, user experience, brand equity, personalized payoffs, and access to multiple platforms. Apart from this, advanced distribution networks and manufacturing expertise give an upper edge to players to expand their range of products globally.
Online Gambling Market Leaders
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Flutter Entertainment PLC
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Entain PLC
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Bet365
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Kindred Group PLC
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888 Holding PLC
*Disclaimer: Major Players sorted in no particular order
Online Gambling Market News
- In September 2023, Bet365 partnered with mobile-focused gaming content provider Gaming Realms. Following the agreement, Gaming Realms provides Bet365 with its online gaming content selection. Slingo Rainbow Riches and Slingo Lobstermania are included in the provider's collection.
- In June 2023, Groupe Partouche and Betsson AB partnered to launch online casino services in Belgium. The collaboration leverages Groupe Partouche's dominance in the market for traditional casinos and Betsson's expertise in the online gaming industry to produce enticing online casino offerings suited explicitly for the Belgian market.
- In June 2023, Bet365 officially launched in Iowa, a midwestern US state. With the help of a long-term collaboration with Casino Queen Marquette, Bet365 made its debut in the state of Iowa.
Online Gambling Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Market Drivers
- 4.1.1 Aggressive Advertisement And Promotional Activities
- 4.1.2 Advancement In Security, Encryption, And Streaming Technology
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4.2 Market Restraints
- 4.2.1 Regulatory and Legal Challenges
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4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Game Type
- 5.1.1 Sports Betting
- 5.1.1.1 Football
- 5.1.1.2 Horse Racing
- 5.1.1.3 Tennis
- 5.1.1.4 Other Sports
- 5.1.2 Casino
- 5.1.2.1 Live Casino
- 5.1.2.2 Baccarat
- 5.1.2.3 Blackjack
- 5.1.2.4 Poker
- 5.1.2.5 Slots
- 5.1.2.6 Others Casino Games
- 5.1.3 Lottery
- 5.1.4 Bingo
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5.2 End User
- 5.2.1 Desktop
- 5.2.2 Mobile
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.1.4 Rest of North America
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Sweden
- 5.3.2.5 Spain
- 5.3.2.6 Italy
- 5.3.2.7 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 Oceanic Countries
- 5.3.3.2 Rest of Asia-Pacific
- 5.3.4 Rest of the World
- 5.3.4.1 South America
- 5.3.4.2 Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Strategies Adopted by Players
- 6.2 Market Share Analysis
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6.3 Company Profiles
- 6.3.1 Betsson AB
- 6.3.2 888 Holdings PLC
- 6.3.3 Kindred Group PLC
- 6.3.4 Entain PLC
- 6.3.5 Bet365
- 6.3.6 Flutter Entertainment PLC
- 6.3.7 22bet
- 6.3.8 Mgm Resorts International
- 6.3.9 Draftkings Inc.
- 6.3.10 Super Group (sghc Limited)
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityOnline Gambling Industry Segmentation
Online gambling is typically betting on casino or sports-type games over the internet. The online gambling market is segmented by game type, end user, and geography. Based on game type, the online gaming market share is segmented into sports betting, casino, lottery, and bingo. Sports betting is further segmented into football, horse racing, tennis, and other sports. Casinos are further segmented into live casinos, baccarat, blackjack, poker, slots, and other casino games. Based on end users, the market is segmented into desktop and mobile. The market is segmented based on geography into North America, Europe, Asia-Pacific, and the Rest of the World. The online gambling market size has been done in value terms in USD for all the above-mentioned segments.
| Game Type | Sports Betting | Football |
| Horse Racing | ||
| Tennis | ||
| Other Sports | ||
| Game Type | Casino | Live Casino |
| Baccarat | ||
| Blackjack | ||
| Poker | ||
| Slots | ||
| Others Casino Games | ||
| Game Type | Lottery | |
| Bingo | ||
| End User | Desktop | |
| Mobile | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Rest of North America | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Sweden | ||
| Spain | ||
| Italy | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | Oceanic Countries |
| Rest of Asia-Pacific | ||
| Geography | Rest of the World | South America |
| Middle East and Africa |
Online Gambling Market Research FAQs
How big is the Online Gambling Market?
The Online Gambling Market size is expected to reach USD 93.26 billion in 2024 and grow at a CAGR of 10.44% to reach USD 153.21 billion by 2029.
What is the current Online Gambling Market size?
In 2024, the Online Gambling Market size is expected to reach USD 93.26 billion.
Who are the key players in Online Gambling Market?
Flutter Entertainment PLC, Entain PLC, Bet365, Kindred Group PLC and 888 Holding PLC are the major companies operating in the Online Gambling Market.
Which is the fastest growing region in Online Gambling Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Online Gambling Market?
In 2024, the Europe accounts for the largest market share in Online Gambling Market.
What years does this Online Gambling Market cover, and what was the market size in 2023?
In 2023, the Online Gambling Market size was estimated at USD 83.52 billion. The report covers the Online Gambling Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Online Gambling Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Which emerging technologies will shape the future of Online Gambling Market?
The potential of VR/AR, blockchain & artificial intelligence to enhance player engagement & security are the emerging technologies shaping the future of Online Gambling Market.
What are the future growth drivers for the online gambling market?
The future growth drivers for the online gambling market are a) Increasing internet penetration and b) Legalization in new markets
Virtual Gambling Industry Report
The global online gambling market is experiencing significant growth, driven by increasing internet penetration, mobile phone usage, and cultural acceptance. The market encompasses various segments, including sports betting, casinos, poker, and bingo, with sports betting leading due to its widespread popularity. Technological advancements such as VR and blockchain are enhancing the user experience, contributing to the market's expansion.
The market size and market share of the online gambling industry are on an upward trend. Industry growth is evident as more users engage with online platforms. Industry statistics indicate a steady increase in user participation and revenue generation. The industry worth is projected to rise, supported by favorable market conditions and technological innovations.
The market analysis reveals that North America is poised for significant growth, driven by regulatory changes and technological advancements. The industry analysis shows a competitive landscape where key players are engaging in strategic mergers and innovations. The industry outlook remains positive, with a promising future ahead.
Market leaders in the online gambling sector are continuously exploring new opportunities to maintain their competitive edge. The market forecast suggests continued growth, and market trends indicate a shift towards mobile platforms. The market value is expected to increase, reflecting the industry's robust health.
Industry research highlights the importance of understanding market segmentation and target market dynamics. The industry reports provide valuable insights into market data, market review, and market predictions. The report example and report pdf offer a comprehensive overview of the industry's current state and future prospects.
In summary, the online gambling market is set for substantial growth, with market growth driven by technological advancements and regulatory changes. The market overview and market outlook remain optimistic, supported by positive industry trends and robust market data. The industry information and industry statistics underscore the market's potential, making it an attractive sector for investment and development.
