Online Gambling Market Projected to Hit USD 165.3 Billion at a 11.30% CAGR by 2030 – Report by Market Research Future (MRFR)
Mar 27, 2023
Market Research Future Highlights
The online gambling market has seen significant growth in recent years, driven by a combination of factors including increased internet penetration, the rise of mobile devices, and the growing acceptance of online gambling as a form of entertainment. According to market research reports, the global online gambling market size was valued is expected to reach USD 165.3 billion by 2030, growing at a CAGR of 11.30% during the forecast period.
The online gambling market is diverse and includes a wide range of activities such as online sports betting, casino games, poker, bingo, and lottery. The market is also segmented by device, with desktop and laptop computers being the most popular devices for online gambling, followed by smartphones and tablets.
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The online gambling market is highly competitive, with a large number of players operating in different regions. Here are some of the key players in the global online gambling market:
- Bet365 Group Ltd.
- Flutter Entertainment plc
- Kindred Group plc
- 888 Holdings plc
- GVC Holdings plc
- William Hill plc
- The Stars Group Inc.
- Betsson AB ,Ladbrokes Coral Group plc. Paddy Power Betfair plc
Market Report Scope:
Revenue Forecast in 2030:
USD 165.3 Billion
CAGR of 11.30% from 2022 to 2030
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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The online gambling market is a diverse and complex market that can be segmented in various ways. Here are some of the most common ways in which the online gambling market is segmented:
By Type: The online gambling market can be segmented by type, including sports betting, casino games, poker, bingo, lottery, and others.
By Device: The market can be segmented by device, including desktop/laptop, mobile, and tablet.
By Payment Method: The online gambling market can be segmented by payment method, including debit/credit card, e-wallet, and others.
By Geography: The market can be segmented by geography, including North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
By Age Group: The market can be segmented by age group, including under 18, 18-35, 36-50, and over 50.
By Gender: The market can be segmented by gender, including male and female.
By Revenue Model: The online gambling market can be segmented by revenue model, including subscription, free-to-play, and pay-to-play.
By Regulation: The market can be segmented by regulation, including countries with well-established regulatory frameworks and those with limited or no regulation.
Segmentation allows companies to identify the specific needs of different customer groups and design targeted marketing and product development strategies that are more likely to resonate with those groups. This ultimately leads to a better understanding of the market and more effective engagement with customers.
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The online gambling market is a global market with diverse players and varying degrees of regulatory frameworks across different regions. Here is a brief regional analysis of the online gambling market:
North America: The North American online gambling market is one of the most significant regions globally. The US, the largest market in North America, is witnessing an increase in the number of states legalizing online gambling. The market is estimated to grow at a CAGR of 12.3% from 2021 to 2028.
Europe: Europe is a mature market for online gambling, with well-established regulatory frameworks in place. The UK is the largest market in Europe, followed by Germany and France. The market is projected to grow at a CAGR of 10.6% from 2021 to 2028.
Asia Pacific: Asia Pacific is expected to witness significant growth in the online gambling market. Countries such as China, India, and Japan are expected to contribute significantly to market growth due to the increasing adoption of mobile devices and high internet penetration rates. The market is expected to grow at a CAGR of 13.3% from 2021 to 2028.
Latin America: Latin America is an emerging market for online gambling, with Brazil being the largest market in the region. The market is expected to grow at a CAGR of 12.7% from 2022 to 2030.
Middle East and Africa: The Middle East and Africa region are currently witnessing slow growth in the online gambling market due to stringent regulations and limited internet penetration. However, the market is expected to grow at a CAGR of 12.5% from 2021 to 2028 due to the increasing adoption of mobile devices and internet penetration.
Overall, the online gambling market is a dynamic and rapidly evolving market with different regions experiencing varying degrees of growth and regulatory frameworks.
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