Online casino is commonly known as virtual casino. Online casino is an advance version of traditional casino. These casino includes games such as baccarat, poker, bingo, slot machines, keno, blackjack, and roulette. As compared to offline casinos, online casinos offer higher payback percentage and better odds of winning to its players. Online casinos offer various gifts and bonuses which include welcome bonuses, cashback or insurance bonuses, non-cashable bonuses, referral bonuses, compensatory points, and no deposit bonuses. These offers help vendors increase the number of visitors and players to their website. These advantages are expected to propel the global online casino market. There are various regulatory bodies present across the region who permit the legality, and licensing or authorization to online casino vendors. Some policies or Acts include Interactive Gambling Act 2001, The Belgian Gaming Act, Online Casino Legislative 2012, the Gambling Act of 2014, The Unlawful Internet Gambling Enforcement Act of 2006 and others. The above mentioned acts might hinder the growth of the online casino market.
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There are various factors present in the market which plays an important role in driving the global Online casino market such as increasing number of participants across the world, rising standard of living, increasing spending capability of customer, growing urbanization and commercialization are projected to boost the global online casino market. The major factor which is driving the online casino market is the high adoption rate of mobile phone across the region. Furthermore, rapid growth in technology and change in consumer’s offline casino preference are expected to drive the online casino market. Rising number of internet users is creating huge opportunities for the online casino market globally. However, security and authentication related issues is likely to restrain the online casino market and affecting the growth of the market.
The online casino market has been segmented based on type, device, end-user, and geography. In terms of device, the online casino market has been divided into smartphones, laptop, tablet, PC (Personal Computer), and desktop. Based on end-user, the market has been bifurcated into men and women. Based on type, the online casino market has been classified into download-based online casinos, live dealer casino games, web-based online casinos, and virtual casino games. In terms of geography, the global online casino market has been categorized into Europe, Asia Pacific, Middle East & Africa, North America, and South America. Europe holds a major share of the market. Governments are implementing favorable rules and regulations for online casino in countries such as the U.K, Germany, and Italy. This is expected to propel the market in the Europe during the forecast period. The market in North America, followed by Asia Pacific, is anticipated to expand at a healthy growth rate during the forecast period.
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Key players operating in the global online casino market includes 888 Holdings (Gibraltar), Bet-at-home.com, Ladbrokes (U.K), Bwin.Party (Gibraltar), Betfair Online Casino (U.K), Draft Kings (United States), GVC Holdings ( Douglas), MGM Resorts (Las Vegas), Unibet Group (G?ira), NetEnt (Sweden), Paddy Powe ( London), The Stars Group (Canada), William Hill.( United Kingdom), Microgaming (Douglas), Camelot Group (United Kingdom), Rank Group (United Kingdom), Playtech ( Douglas), Gala Coral, Amaya (England), Fan Duel (United States), International Game Technology (England), and Realtime Gaming (Georgia). In the current market scenario, competition among these market players is very high. In order to gain a competitive advantage in the industry, the companies are focused toward technology adoptions and development of their offering. These strategies are expected to help them to get an edge over their competition during the forecasted period.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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