Global Online Gambling Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Game Type (Sports Betting, Casino, Lottery, Others), By Platform (Desktop, Mobile), And By Geography - Forecasts From 2022 To 2027
- Published : Aug 2022
- Report Code : KSI061613852
- Pages : 120
The global online gambling market was valued at US$65.316 billion in 2020 and is expected to grow at a CAGR of 10.11% over the forecast period to reach a total market size of US$128.154 billion in 2027.
The growing popularity of betting across different regions around the globe is significantly driving the global online gambling market. According to the American Gaming Association (AGA), around 2,800 sites were active online and offered games and activities, such as poker, lottery, and bingo, as of 2018. The growing adoption of smartphones, coupled with rapid penetration of better internet connectivity across various regions/countries, is supporting easy access to various online gambling platforms. With companies offering freemium models to their customers, the number of people engaged in various types of online gambling is rising at a considerable rate which, in turn, is boosting the growth of the global online gambling market.
An increasing number of cost-effective mobile applications to play different online gambling games on smartphones is also contributing to the market growth of online gambling worldwide. The ease of sports betting using a portable connected device such as a smartphone, laptop, and tablet has increased the number of players in the online gambling industry. Moreover, the proliferation of sports betting along with other online gambling ads is further attracting people to try online gambling, thus positively impacting the market growth during the forecast period. Online agencies, third-party ad servers, and networks and exchanges are used for advertising gambling websites of various companies. Online gambling service providers enter into agreements with individual customers or players to offer betting services for real money, attracting more and more gamers.
The online gambling industry has a vast range of regulatory frameworks in place, which attributes mainly to the market size, the number of participants, and the level of illegal gambling. Legislation for online gambling ranges from licensed markets that are fully open to commercial operators to explicitly prohibited and banned. Tax rates, online penetration, and other regulatory requirements vary widely across geographic regions. As legislation continues to evolve, the regulated markets have a severe impact of increasing costs and barriers to entry which includes consumer protection initiatives and rising gambling taxes. By far, the United Kingdom is the largest regulated online gambling market for many online operators. Other sizeable regulated markets include Sweden, Spain, Italy, and Australia.
However, many countries prohibit the online gambling industry, which is hampering the growth of the global online gambling market. Countries, where online gambling is illegal, include Singapore, the United Arab Emirates (UAE), North Korea, India, and Qatar. In Russia, online gambling is completely banned except for interactive gambling, which includes simulators of slot machines, card games, and casino games. Moreover, countries, where online gambling is allowed have restricted and stringent regulations, which further erodes the growth of this overall online gambling market.
An increasing number of partnerships
The online gambling industry is witnessing ongoing partnerships and collaborations among market players to expand their reach across the globe, which will continue to bolster the growth of the global online gambling market till the end of the forecast period. In July 2020, Pariplay partnered with Grand Casino Baden and entered Switzerland’s iGaming space. This partnership allows the company to expand its footprints to this newly regulated market, following recent moves in Romania and Portugal. Greentube, the NOVOMATIC Interactive division, has also recently signed a distribution deal with the leading operator in Spain- Casino Gran Madrid Online- to extend its footprint in the country. Kambi Group plc recently signed a multi-year agreement in August 2020 with BetAmerica, a subsidiary of Churchill Downs Incorporated (CDI), to become the sportsbook technology and service provider to the sports betting brand. BetAmerica sportsbooks are currently available in Indiana, Pennsylvania, New Jersey, and Mississippi. BonusFinder.com was granted an affiliate license to operate in Tennessee after the sports betting law entered into force in this U.S. state in 2019, expanding further in the burgeoning U.S. online gambling market. BonusFinder.com currently holds licenses in six U.S. states, including West Virginia, Pennsylvania, Indiana, and Colorado. Soft2Bet, the casino platform provider, has recently unveiled Irokobet, an innovative casino, and sportsbook brand. This product offers customers a unique selection of engaging casino games, live casino options, and a whole new experience for its players based in New Zealand and several African markets. Playzido, a B2B gaming platform, signed a partnership agreement with DreamTech Gaming. This partnership incorporates the latter’s rapidly growing portfolio of high-performance casino games onto the Playzido platform. Online Casino and Sportsbook Betzest™ have partnered with casino provider Fortune Factory Studios™ to increase its offering. This partnership includes the latter’s complete collection of games, including Aliyas Wishes, Romanov Riches, and Village People Macho Moves.
Europe holds a significant share in the global online gambling market
By geography, the global online gambling market has been segmented into five major regional markets- North America, South America, Europe, the Middle East and Africa (MEA), and Asia Pacific (APAC). Europe accounted for a substantial share of the global online gambling market in 2019 and will remain at its position until the forecast period. Online gambling is legal in many European countries, which supports the growth of the online gambling market in this region. In the United Kingdom, for example, online gambling is legalized on account of safe practices with strict regulations laid down by the British government. Asia Pacific (APAC) online gambling market is projected to register the highest compound annual growth rate owing to the booming adoption of smartphones and internet penetration, with the younger population inclined towards online gambling services. In New Zealand, the government encouraged TAB and NZ Lotto to offer a collection of services while growing their gaming portfolio. In October 2019, the government of Malaysia announced its plans to implement better online gaming legislation and is looking forward to amending the country’s laws on the gambling industry to include the online segment.
North America is also a growing online gambling market and is projected to witness decent growth during the forecast period. Several U.S. states, such as Pennsylvania, New Jersey, West Virginia, Nevada, and Delaware, offer legal online gambling- online casinos, online poker, and online sports betting. The Michigan governor signed legislation to legalize online gambling in the state on December 20, 2019. The first retail sportsbooks in Michigan went live in March 2020, with online platforms expected to enter the fold as early as October 2020. In Canada, though it is illegal to operate online casinos within the country, players are allowed to gamble at sites located offshore where they can be legally registered to operate. Also, some online casinos in Canada are legal and managed by local governments to generate funding.
Activision Blizzard was acquired by Microsoft for 98 percent of its shares in April 2022. Activision Blizzard benefitted from this acquisition since it will strengthen its position in the game sector and provide new chances for its employees.
Leikir Studio, the developer of Metal Slug Tactics and Rogue Lords, was bought by Focus Entertainment in February 2022. This acquisition solidifies Focus Entertainment's multi-production strategy by making the Leikir studio the company's fifth developing studio.
The ROG FLOW Z13 tablet was released in January 2022 by Republic Of Gamers, an ASUS gaming brand. This tablet comes with an Intel Core i9-12900H processor, a GeForce RTX 3050 Ti Laptop GPU, Dolby Atmos, AI noise-cancelling advancements, Hi-Res certification, and a built-in 3-microphone array, 2-speaker system with Smart Amplifier Technology, as well as a dedicated MUX Switch that supports multiple input types and graphics boost with XG Mobile.
COVID-19 accelerated the growth of the global online gambling market
The recent COVID-19 pandemic has led to a sudden rise in the revenues of online gambling service providers, thus positively impacting the overall market growth. According to Google Trends, gambling has moved online amid the closure of physical gambling venues coupled with the cancellation of various sports events and tournaments. In Australia, the joint study by Australian Credit Bureau Illion and analytics firm AlphaBeta has reported a 67 percent rise in online gambling during the first week of April alone, based on a sample of transactions made by 250,000 Australian consumers, following the recent shutdown of all non-essential services due to coronavirus. The figures show that online gambling has emerged as one of the biggest winners during the shutdown, alongside services such as online retail, food delivery, and subscription services. Similarly, the US-facing online social poker room Global Poker revealed a 43% increase in the use of online poker sites in America since the nationwide lockdown and social distancing measures took effect. In conjunction with this, a 255 percent increase in first-time poker players was witnessed, enjoying poker either live, online, or with friends regularly. In the United Kingdom, search interest in online casinos has also hit an all-time high since the lockdown. However, this increase in revenue is subject to the legalization of certain online gambling services across various countries. For example, although sports betting and wagering are permitted in Australia, online casino gaming and poker are strictly prohibited under the Interactive Gambling Act.
These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the global online gambling market have been covered, along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.
Global Online Gambling Market Scope:
|Market size value in 2020||US$65.316 billion|
|Market size value in 2027||US$128.154 billion|
|Growth Rate||CAGR of 10.11% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Game Type, Platform, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||William Hill Plc, Flutter Entertainment plc, BETSSON AB (publ), BetAmerica, 888 Holdings PLC, Light & Wonder, Inc., Bet365, Kindred Group Plc, Entain plc, LeoVegas Group, Greentube Internet Entertainment Solutions GmbH|
|Customization scope||Free report customization with purchase|
- By Game Type
- Sports Betting
- By Platform
- By Geography
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- South Africa
- Asia Pacific
- North America
Frequently Asked Questions (FAQs)
Q1. What will be the online gambling market size by 2027?
A1. Online Gambling Market is expected to reach a total market size of US$128.154 billion in 2027.
Q2. What are the growth prospects for the online gambling market?
A2. The online gambling market is expected to grow at a CAGR of 10.11% over the forecast period.
Q3. What is the size of the global online gambling market?
A3. The global online gambling market was valued at US$65.316 billion in 2020.
Q4. What factors are anticipated to drive the online gambling market growth?
A4. The growing popularity of betting across different regions around the globe is significantly driving the global online gambling market.
Q5. Which region holds the largest market share in the global online gambling market?
A5. Europe holds a significant share in the global online gambling market.
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Porters Five Forces Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of New Entrants
4.4.4. Threat of Substitutes
4.4.5. Competitive Rivalry in the Industry
4.5. Industry Value Chain Analysis
5. Global Online Gambling Market Analysis, By Game Type
5.2. Sports Betting
6. Global Online Gambling Market Analysis, By Platform
7. Global Online Gambling Market Analysis, By Geography
7.2. North America
7.2.1. United States
7.3. South America
7.4.1. The United Kingdom
7.5. Middle East and Africa
7.5.2. South Africa
7.6. Asia Pacific
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. William Hill Plc
9.2. Flutter Entertainment Plc
9.3. BETSSON AB (publ)
9.5. 888 Holdings PLC
9.6. Light & Wonder, Inc.
9.8. Kindred Group Plc
9.9. Entain plc
9.10. LeoVegas Group
9.11. Greentube Internet Entertainment Solutions GmbH
William Hill Plc
Flutter Entertainment Plc
BETSSON AB (publ)
888 Holdings PLC
Light & Wonder, Inc.
Kindred Group Plc
Greentube Internet Entertainment Solutions GmbH
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