Global online gaming market represents one of the fastest growing segments of the gambling industry. Despite the regional and country wise restrictions, in 2018 the market already produced more than US$ 48.9 Bn in worldwide revenue and is projected to grow to over US$ 134.5 Bn by 2027. Relaxation of laws and regulation across the globe for online gambling is anticipated to drive the market. Further, advances in technology and increasing accessibility of the web internet gambling sites with multiple benefits and rewards is attracting among the users. However, Sports betting, casino, and poker is expected to remain competitive during the forecast period from 2019 to 2027.
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The European Gambling & Betting Association has been banging the drum for standard technical requirements for online gambling operators in regulated EU markets. They are expected to continue their efforts in coming years. Moreover, live casino and table games are seeing huge rise in popularity in last few years. Suppliers have bolstered their platforms and studios with upgrades and new features.
In online gambling, companies provide different games, such as, casino, poker, sports betting, lottery, and other games to end-users through an Internet-based digital platform. This allows users to witness and engage in gambling and betting activities in real-time through their Internet-enabled electronic devices. Rise in penetration of Internet-based devices, trust on wagering through online mode of payment, and relaxation of laws have boosted the online gambling & betting market across the globe.
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On the basis of device type, the global online & betting market is divided into mobile, desktop, and tablet. In terms of value, desktop was the largest segment of the online gambling & betting market in 2018. The mobile segment is anticipated to expand at a significant CAGR of around 16 % during the forecast period. Increase in internet users through smartphones is expected to be a key factor in online gambling & betting. Companies are working on to change their business models in order update their system with the demand and regulations. Some of the key players operating in the online gambling & betting market players profiled in the report include
- 888 Holdings plc.
- The Stars Group
- Paddy Power Betfair plc
- Fortuna Entertainment Group
- GVC Holdings Plc.
- Kindred Group.
The global online gambling & betting market is segmented on the basis of gaming type, device type, and region. As per gaming type, the online gambling & betting market is segregated into poker, casino, social gaming, lottery, bingo, sports betting, and fantasy sports. The sports betting segment is expected to expand at a considerable pace owing to the increase in number of sports following. Online casino and poker and lottery seems to be attractive owing to the increase in participation of consumers to earn rewards and offers. Rise in prevalence rate of online gambling is expected to boost social gaming, bingo, and fantasy sports over the next few years. The global online gambling & betting market by gaming type is expected to be dominant by sports betting during the forecast period.
Geographically, the global online gambling & betting market is segmented into five regions namely North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe was a leading the global market in 2018. However, Asia Pacific seem to be lucrative market for online gambling & betting industry. In addition, this has about 2/3rd of global population are inclining towards online gambling & betting with large portion of young population. Increase in number of participants in online gambling & betting site is expected to gain value in developing economies.
